Director, Deposit Strategy & Sales

About Locus:

At Locus, we know communities thrive when they have equitable access to capital. We collaborate with stakeholders across the community development ecosystem to invest in communities with strong aspirations, while addressing challenges like a shortage of affordable housing, limited access to fresh food, a lack of quality jobs, and clean energy innovation. We believe a capital system that centers community input and impact is essential to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving places. 

Locus is the parent organization for a family of community development enterprises, which includes a nonprofit CDFI loan fund, a CDFI bank, a fund management practice, and a national guarantee program. With offices in Christiansburg and Richmond, Virginia, Locus offers innovative and flexible financing tools and strategic consulting services to individuals and organizations in underestimated and excluded communities, most of which are low-to-moderate income. Alongside our many partners, Locus has generated over $2 billion dollars in total impact.  

Locus is a nonprofit holding company regulated by the Federal Reserve. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Position Overview:

The Director of Deposit Strategy & Sales is primarily responsible for driving forward deposit alliances, cultivating existing deposit relationships, and developing and advancing deposit strategy, including product offerings, delivery channels, sales and operational strategy. This position is responsible for developing, recommending, and executing strategic initiatives for Locus’ deposit portfolio that will drive growth, meet sustainability goals, and deliver a mission-driven partner experience. 

• Lead deposit strategy, product development and sales efforts in support of company goals to increase deposit growth. Drive prioritization, development, and launch of enhanced deposit strategy for the organization.
• Collaborate with our External Relations, Lending, Place-Based and Specialized Sector Teams to enhance and grow existing deposit relationships. The Deposit Strategy and Sales Manager will actively support client and prospect calling efforts to grow and develop new relationships and will be personally capable of leading sales efforts across the deposit portfolio to sophisticated clients and prospects. 
• The Deposit Strategy & Sales Manager will champion deposit strategy, products and services throughout the organization, and will collaborate with marketing, operations, policy, and risk management to ensure a comprehensive model for deposit sales and service. 
• Conduct market research among peer organizations for pricing, rates, and terms for deposit products and services.  
• Make recommendations to the Asset and Liability Committee (ALCO) for our prices and rates. 
• Collaborate with Deposit Operations team to create, prototype and test new deposit products and services, including assessing the overarching infrastructure and operational strategy to support our deposit offerings.
• Design and continuously improve the end-to-end customer experience for deposit clients, leveraging human-centered design, lean techniques, and digital tools.
• Establish key performance indicators for measuring and managing the effectiveness of deposit strategies and initiatives.
• Build strong, transparent, and collaborative relationships with business groups and their leaders across the enterprise, particularly as it relates to forecasting deposit growth and improvements to sales experience. 
• Provide sophisticated analysis of complex market, industry, and internal business information and make comprehensive recommendations to management, including executives and board members.

Management Responsibilities:

• Recruits, interviews, hires, trains, and manages staff through a hybrid remote working environment. 
• Provides constructive and timely performance evaluations. 
• Oversees discipline and termination of employees in accordance with company policy. 
• Participate in and lead culture-building efforts with direct reports and across the department. 

Qualifications

Experience/Education/Certifications:

• A combination of 7-10 years' experience in deposit strategy development, deposit and treasury sales, client relationship management, deposit product development, and leadership is required.
• Background/knowledge of regulated financial products, mainly deposits, cash management, and treasury products and services. Understanding of financial product pricing and terminology.
• Experience in leading the development of a financial product from research and design/concept to final sales process, while working across the company with other departments on implementation.
• Experience in financial product sales utilizing technology and in-person selling techniques. Experience building sales tools as necessary and training across the company. 
• Demonstrated experience in understanding total funding cost, wholesale, and retail funding outlets, and building a strategy to grow and lower the price of deposits for the organization. Demonstrated ability to implement the strategy and sales goals of financial products.
• Demonstrated ability to drive innovation across areas of responsibility, apply expert interpersonal, communication, and problem-solving skills.
• Physical/Sensory Demands: Fast-paced working environment, requiring quick decisions within areas of responsibility.

Computer/Technology:

• Excellent Word, Excel, and Windows file management skills are mandatory
• Strong technical experience with Salesforce or other CRM tools
• Demonstrated web research skills
• Familiarity with Outlook or similar network-based email and calendar software
• Extensive computer usage and Microsoft Teams communication
• Must be able to work independently in a stable remote environment

Communication:

• Ability to communicate verbally across all levels of the organization in a clear, concise, and confident manner
• Ability to write accurate, clear, and organized communications, incorporating a range of information and analysis. Ability to document workflow and procedures

Compensation and Benefits:

• $127,000 - $147,000 annual salary, depending on skills and experience 
• Annual bonus opportunity 
• 18-days of PTO per year
• 13-paid holidays per year 
• Medical, dental, vision, short- and long-term disability insurance 
• Life Insurance 
• Paid Family Leave options 
• 401k savings plan with employer match 

Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or status as a veteran.