Head of Deposit Program

Merrick Bank • South Jordan, UT

1d • Onsite

About The Position

The Head of Deposit Program is responsible for the strategic and day-to-day management of the Bank’s deposit operations and deposit channel capabilities, with primary responsibility for time-deposit products (Certificates of Deposit) administered through digital/online channels and supporting operational workflows. Reporting to the SVP, Treasury, this role partners across Treasury, Finance, Operations, Compliance, Risk, Internal Audit, Marketing, and Technology to ensure deposit account lifecycle processing is executed efficiently, accurately, and in compliance with applicable regulations and internal control standards. As an online-focused, FDIC-insured bank, the deposit operating model relies on strong digital channel execution, robust data governance, and effective vendor/system oversight to support account origination, servicing, and maturity processing. This role has supervisory responsibilities and leads a team whose size and composition may evolve with product strategy, operating model changes, and regulatory expectations.

Requirements

• Bachelor’s degree required; related field preferred.
• 7+ years of experience in deposit operations or treasury support.
• Leadership experience required.
• Deep understanding of deposit operations and CD lifecycle processing.
• Ability to maintain strong controls and audit readiness.
• Strong analytical and problem-solving skills.
• Effective communication and stakeholder engagement capability.
• High integrity, judgment, and confidentiality.

Nice To Haves

• Experience with core deposit systems and digital channels preferred.
• Familiarity with treasury operations and ALCO support preferred.
• ACH/FedLine operational familiarity preferred.

Responsibilities

• Provide oversight of the Bank’s online deposit origination and servicing capabilities supporting CD/time-deposit products.
• Provide strategic operational support for new deposit products such as high-yield savings accounts working with marketing and senior-level managers to expand origination and servicing capabilities.
• Provide deposit-related expertise to support FP&A in cost analyses and work with marketing to advise the Treasurer on deposit pricing.
• Own deposit channel operational readiness including controls, documentation, and exception handling.
• Partner with Technology and vendors to support platform reliability, change management, and secure customer experiences.
• Lead continuous improvement initiatives to enhance deposit channel efficiency and scalability.
• Oversee accurate, timely deposit account setup, maintenance, and lifecycle processing within the core system.
• Implement deposit account operational parameters for new deposit products.
• Establish quality controls to ensure accuracy, data integrity, and strong operational discipline.
• Manage time-deposit lifecycle events including maturities, renewals, interest disbursements, and early withdrawal handling.
• Ensure accurate posting of interest, fees, and penalties consistent with disclosures and product terms.
• Serve as escalation point for operational exceptions and ensure proper remediation.
• Ensure Truth in Savings/Reg DD disclosures are accurate and delivered timely.
• Maintain working knowledge of deposit regulations and partner with Compliance on updates.
• Ensure processes align with policy requirements and support exam/audit expectations.
• Coordinate audit/exam responses, documentation, and corrective actions.
• Support Treasury with deposit analytics and reporting for liquidity planning and daily cash positioning.
• Prepare deposit inputs for ALCO including trend analysis, maturity ladders, and sensitivity insights.
• Provide operational insights to inform balance sheet strategy.
• Support ad hoc liquidity, cash management, and deposit strategy analyses.
• Maintain strong internal controls, documentation, approvals, and monitoring practices.
• Identify and escalate operational risks and compliance concerns.
• Partner with Risk, Compliance, and Audit to strengthen governance.
• Support remediation of audit/exam findings.
• Provide leadership and performance management to assigned staff.
• Support onboarding, coaching, and capability development.
• Drive a culture of service excellence, control discipline, and continuous improvement.
• Ensure proper coverage, cross-training, and succession planning.
• Maintain heightened security awareness and ensure adherence to information security standards.
• Ensure access rights, system roles, and data handling practices meet policy expectations.
• Promote secure operational practices.
• Responsible for complying with all of the Bank’s internal control policies and procedures.
• Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
• Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.
• Perform other duties as assigned by senior management.
• Maintain ethical standards, judgment, and confidentiality in all matters.

Benefits

• Competitive Pay
• Bonus Target or Variable Pay Incentive Program
• Medical, Dental, and Vision
• 401(k) Plan with Company Match
• Short- & Long-Term Disability
• Wellness Programs
• Group Life and AD&D Insurance
• Paid Vacation, Sick Days and bank Holidays
• Employee Engagement Activities including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, Service Recognition

What This Job Offers

• Job Type: Full-time
• Career Level: Manager