VP, Digital Growth - MJK Connections LLC

MJK Connections LLC is excited to work with SLFCU to hire a VP, Digital Growth.  In this role you will work with a great leader, be part of a fantastic culture and be put in a position where you can use your skills to have an incredible impact on the Credit Union's future.

About the job:

Sandia Laboratory Federal Credit Union (SLFCU) is seeking a Vice President of Digital Growth. Reporting directly to the Chief Digital Officer (CDO), this individual will build and manage new lines of business that contribute to deposit capture, loan originations, and income growth. This includes generating deposit and loan growth with existing and new members, growing non-interest income, consulting on the launch of a new digital bank under a separate brand, and exploring fintech partnerships that generate banking-as-a-service revenue.

What you will do:

• Team building and people management. You will hire and manage a growth-oriented digital product manager. We want you to attract new talent and put your stamp on the teams culture.

• Achieving growth targets. You will set and manage growth targets for the digital business, including growth in members, deposits, loans, and income. You will partner with finance, operations, marketing, and product management to enable your growth goals.

• Digital business KPIs. You will be the primary owner of KPIs for the digital business and will report on these KPIs to inform your own growth roadmap as well as the roadmap for Digital Products & Experiences. When necessary, you will work with marketing, product management, data, and finance to establish measurement capabilities, reports, and dashboards.

• Digital strategy development. In collaboration with the CDO, you will own the refinement, socialization, and implementation of the companys digital strategy. The digital strategy includes our 10-year objectives, strategic pillars, 3-year focus areas, enabling capabilities, key performance indicators (KPIs), and a set of high-profile strategic initiatives.

• Ongoing new venture development and management. In collaboration with our New Venture Manager, you will build a pipeline of income-generating opportunities that can be enabled through digital channels. These may include fintech partnerships, as-a-service business models, and additional digital banks.

• Customer research. For each new venture you propose, you will oversee primary research (customer interviews), prototyping, and concept testing to document personas, identify human needs, and codify jobs.

• Business case development. For each growth initiative, marketing campaign, and new venture you propose, you will develop financial models and build business cases to explain the impact of the initiative on our income statement and balance sheet.

• Market research and digital trends monitoring. You will conduct secondary research, monitor market trends, and attend industry events as needed to keep your finger on the pulse of our competitors, partners, and potential partners activities.

• User experience (UX) design. You will partner with the Senior Director of Digital Products & Experiences to bring your initiatives to life visually through user experience and user interface designs, journey maps, and personas.

• Cross-functional collaboration. You will work closely with VPs and Chief X Officers across our business to bring your ideas to life. Your primary collaborators will include the retail organization (branches, contact center, deposit operations), lending, technology, marketing, financial products, data, and the enterprise project management office (PMO). You will also manage and grow relationships with the external partners that enable your new ventures.

• Budget management. You will develop and manage a budget allocated to digital growth, including compensation and benefits for your employees, strategic initiative capital expenses, vendor and platform fees, consulting spend, and other miscellaneous operating expenses.

What you bring to the table:

• 10+ years of experience in the financial services industry, ideally in a digital organization

• A background in profit & loss (P&L) management, fintech, consulting, or startups

• A bachelors and/or masters degree, most likely in business or a STEAM field (Science-Technology-Engineering-Arts-Math)

• While not required, we anticipate many top candidates will possess an MBA

• A demonstrated ability to manage people and to attract, develop, and retain top talent

• A track-record of launching and scaling startups or new lines of business in financial services

SLFCUs digital organization KPIs:

• Net Promoter Score (NPS)

• Digital Active Users

• Digital CAC vs. LTV

• Growth in members, deposits, loans, and income through digital channels

• Operating Return on Average Assets (OROAA)

• Strategic initiative completion

• Profitability (managing digital as a profitable business line for the credit union)

• Note: You will evolve and define our KPIs as the organization grows

Physical Requirements:

Prolonged periods of sitting at a desk and working on a computer.

Must be able to lift 5 pounds at times.

Why SLFCU:

This is an exciting time in the organizations 75-year history. Under the guidance of a new management team, the credit union has made a strategic pivot by broadening our addressable market. Our strategy is to be the economic engine of the Southwestern United States. We have a serious growth ambition, and were just getting started. This is an opportunity to come in on the ground floor and make an outsized impact.

We strive to offer benefits that help our team maintain a healthy work-life balance, including:

• Signing bonus and/or moving allowance

• Target annual performance bonus: 10% - 20% of base salary

• 401(k) plan + employer match $0.67 of every $1 contributed, up to 6% of your salary

• Cash balance pension plan 5% of your salary plus interest for each year of service

• Three (3) health insurance plan options, plus vision & dental insurance

• $500 Lifestyle Spending Account (LSA)

• Basic life insurance at no cost to you, 3x your annual salary up to $400,000

• 15-25 days of PTO + bank holidays + 1 day of paid volunteer time per year

• 4 weeks of paid parental leave (eligible after 1 year of employment)

• 12 weeks of FMLA + short-term disability based on years of employment

About SLFCU:

We are $4 billion in assets and growing. Our team is 500+ employees and 140,000+ members strong. We are headquartered in Albuquerque, New Mexico and have a presence in Northern California as well. Our strategy and vision is to be the economic engine for the entire Southwestern United States.