Director of Cash Management

Description

POSITION SUMMARY:  This position is responsible for supporting the growth of the Bank’s deposit portfolio through direct oversight of the Bank’s cash management division. The incumbent will lead the strategic direction, design, development, implementation and delivery of cash management solutions. Responsibilities will include leading the cash management team and fostering their development; driving deposit growth and revenue generation; managing risk and ensuring regulatory compliance of cash management processes; and monitoring market activity and reporting insight on industry trends. 

KEY RESPONSIBILITIES:

Team Leadership and Development: Lead, manage, and mentor a team of cash management professionals, fostering a culture of collaboration, excellence, and customer centric service. Establish performance and customer service standards and objectives for the cash management team. Oversee the sales activities of the team; assist them with cross selling the Bank’s products and services as well as referrals to other business lines as appropriate to meet or exceed annual performance goals and business objectives. Achieve business deposit growth through the accomplishment of individual goals and by coaching the cash management team to success. Conduct annual performance appraisals and salary reviews and recommend personnel action as appropriate.

Deposit Growth and Revenue Generation: Support the growth of deposits by building and maintaining strong relationships with business customers, offering tailored cash management solutions that meet each customer’s unique business needs. Serve as a trusted advisor to customers on best practices in cash flow management, payment solutions, and liquidity optimization. Identify opportunities for cross-selling additional products and services. Responsible for a Book of Business consisting of the Bank’s largest and most complex commercial customers. Collaborate closely with business bankers, commercial bankers, and branch managers to provide cash management solutions to the Bank’s prospects and grow relationships with the bank’s existing customers. Meet or exceed budgeted deposit and income growth objectives.

Risk Management and Compliance: Ensure that cash management processes comply with regulatory requirements and internal policies. Work closely with the Chief Risk Officer, the Chief Banking Operations Officer, Regulatory Counsel, and the Chief Retail Banking Officer to implement robust risk management strategies to mitigate financial risk. Collaborate with all stakeholders to ensure proper customer education is provided. 

Market and Industry Insight: Monitor market trends relating to competition, banking deposit products, cash management solutions, deposit rates, advertising programs, and technological advancements in the Bank's market area. Report market trends and insight to the Chief Retail Banking Officer and make recommendations as appropriate.

Support Bank products/services: Maintain knowledge of current KSB products and services including business deposit, loan, cash management and investment products and services. Actively utilize as many Bank products and services as possible to fully understand their features and benefits and to be able to communicate effectively with customers and prospective customers. Ensure the cash management team has ongoing knowledge of the bank’s products and services as new options are introduced.

Talk to customers and coach the cash management team on customer discovery to determine needs; suggesting Bank products/services to customers to meet their needs; making referrals to other Bank personnel as appropriate. 

Lead by example with all aspects of the Bank’s sales and referral activities. Direct the cross-selling efforts of staff members.

Community/public relations: Actively participate in community organizations and events. Represent the Bank in the community.

Other duties: Demonstrate reliable attendance and punctuality. Handle telephone inquiries and provide information to customers, vendors and other departments in a professional and courteous manner. Attend and participate in Bank meetings. Attend internal and external training to improve skills and knowledge relevant to the Director of Cash Management position. 

Understand and fully comply with Kennebec Savings Bank’s Core Values.

Perform other duties as required. 

POSITIONS REPORTING TO THIS POSITION:

• Business Relationship Manager
• Business Account Manager

Requirements

EDUCATION/EXPERIENCE REQUIRED:

• Bachelor’s degree with concentration in business or finance and/or equivalent work experience.
• 10 to 15 years of banking experience with progressively more experience in cash management banking and business development.
• Experience leading a team and effective staff management and development.
• Sales and business development experience, along with skills in product development and alternative delivery systems.
• Experience managing Customer Relationship is necessary.
• Demonstrated knowledge of cash management products and operations is required.
• Must have strong written and oral communications skills, including proposal and report-writing capabilities.
• Strong presentation skills; must be comfortable and effective in meetings with and presenting to a wide variety of customers (including 
• Bookkeepers, Treasurers, CFOs, Owners, CEO’s etc.).
• Demonstrated in-depth knowledge of retail and business banking products and services.
• Must have strong analytical and critical thinking skills.
• Adaptability to changing priorities and business needs.
• Computer literate, with specific experience and proficiency in word processing and spreadsheet applications, cash management systems and banking software, Microsoft Office suite of products; experience with CRM systems is desirable.

OTHER REQUIREMENTS:

• Must possess a valid driver’s license, the use of a serviceable automobile that is properly registered and proper liability automobile insurance as required by state law.
• Must be able to lift files and other documents of approximately 20 pounds.
• Must be able to read and work with printed reports.
• Must be able to stand or sit for extended periods of time.
• Must be able to spend extended periods of time working on a computer.
• Must be able use the telephone; must be able to communicate clearly by telephone; must have good listening ability and skills.
• Must be able to prioritize and organize workflow; must have good attention to detail; must be able to handle multiple jobs.
• Must have the ability to think through a problem, following proper steps in finding resolution.
• Must have a high degree of ethics and maintain confidentiality of customers and accounts.
• Must be friendly, courteous and sensitive to the needs of customers and coworkers.