Saturday, February 23, 2013

Job Description: EVP of Distribution and Service Excellence

Figures don't lie. Financial Institution (FI) customers interface with us online far more frequently than in person. Has our organizational structure evolved to meet this challenge? I think not.

This post is geared toward drafting a job description of an FI EVP of Distribution and Service Excellence. Flowery name, I know. I also look at names such as Chief Experience Officer with extreme skepticism. But this position is different. And it's not my idea. I first wrote of such a position based on an idea posed by a student in my class at the North Carolina School of Banking.  I envision the person occupying this role to be a savvy marketer with strong IT skills, as well as senior leadership abilities. Here is my job description for such a position. 

EVP of Distribution and Service Excellence

Summary of ResponsibilitiesMember of Senior Management... As a member of senior management, this person participates in setting and executing the FIs strategy. Ensure compliance with all industry laws and regulations. Assist the Board in setting organizational policy and develop procedures to follow policy. Run the FI in a safe and sound manner. Participate in community events and represent the FI within the community. Join one community organization consistent with FI strategy and employee interests/values and be active in the organization's leadership. Participate in trade association(s) and assume a leadership position in at least one industry trade association.

Marketing and Product Development... Direct supervision of the Marketing and Product Development department. The department's responsibilities are to collaborate with business line leadership in developing tactics to deepen existing relationships and win new relationships with customers consistent with strategy. Develop and support a brand that is consistent with strategy, including traditional and non-traditional advertising, social media, and service excellence criteria. Develop products and product packages consistent with customer wants and needs and FI strategy.

Information Technology (IT)... Direct supervision of the IT department. The department's responsibilities are to implement and manage a stable core processing system and ancillary systems. Maintain system security. Evaluate existing and prospective systems that are consistent with strategy and safe and sound operations. Implement selected systems. Manage technology driven distribution such as online banking, mobile banking, automated teller machines (ATMs), automated teller stations, ACH, or other distribution systems that evolve. Manage relationships with technology vendors. Collaborate with other departments to ensure competitive technology driven distribution channels.

Human Resources (HR)... Direct supervision of the Human Resources department. Develop compensation, incentive, and benefits programs to attract and retain high quality employees with the greatest potential to successfully execute the FIs strategy. Ensure compliance with all HR related laws and regulations. Establish employee review program that encourages positive performance, professional growth and expertise, and remediation for low performing employees. Assist supervisors to positively influence employees, recognize superior performance, remediate poor performance, and remove employees with little chance to add to organizational growth. 

Training... Direct supervision of the Training department. Collaborate with department supervisors to develop development plans by position that focuses on skills consistent with the FIs strategy, technical, and compliance training. Develop leadership and supervision training so supervisors have the skills to motivate employees, identify high performing employees, coaching, and improve overall team performance. Manage the training aspect of FIs Succession and Executive Development plan. Be the champion to expose high performing employees to different disciplines within the FI. Ensure compliance training is consistent with industry standards.

Other duties as assigned.

Is it time to elevate technology from the current bits and bytes mentality, which in my opinion is why IT ends up reporting to an operations officer?

~ Jeff


  1. Great Jeff minds think alike? My first name is Jeff. I proposed a similar position for a bank I used for a graduate school of banking project Strategic Bank Marketing class. The difference is yours is more centered in IT and mine was more centered in Customer Service; however, there was a huge amount of crossover. I really like what you did here.

  2. Jeff,

    The invisible hand profit motive, when broken into centers at financial institutions, can be an effective means to keep the Online/Mobile (even Call Center) profit center focused on a user experience that promotes deeper customer relationships and acquires new customers. Right now, as I see it, the technology function is centered more on greasing gears than building a cool car that everyone wants to ride.

    Thank you for the comment!

    ~ Jeff