Head of Embedded Banking - Piermont Bank : Job Details

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About Us:

Piermont Bank is a digital commercial bank with a mission to serve fast growing companies at the speed they need. Entrepreneur-led and tech-forward, we offer a fully digital experience coupled with meaningful banker relations. We believe in being a partner for enterprising companies, acting as a funding catalyst for mid-market innovation and growth. Piermont's financial solutions and expertise empower our business community to thrive. At Piermont, we are purpose-driven, responsive and practical, delivering integrated and flexible solutions that create value for clients in today's fast-changing economy. For more information, visit www.piermontbank.com.

The Role:

The Head of Embedded Banking will report directly to the Chief Banking Officer and will be responsible for overseeing the development, implementation, and growth of the banks embedded banking offering. The Head of Embedded Banking will lead strategy, product development, business development, partnerships, and operations to ensure seamless integration of banking features within third party platforms, while maintaining regulatory compliance and maximizing customer experience.

Responsibilities:

• Define the overall vision and strategy for embedded banking initiatives, aligning with the company's broader business objectives.
• Identify market opportunities and potential partners to integrate banking services into relevant third-party platforms and lead end-to-end sales/business development efforts to grow the bank's embedded banking portfolio while maximizing line of business profitability.
• Develop business plans and financial models for embedded banking products and services.
• Lead the design and development of new embedded banking products, including deposit accounts payments, and other financial services products.
• Collaborate with technology and risk teams to ensure seamless integration of banking functionalities within third party partner platforms.
• Monitor market trends and customer feedback to continuously improve product offerings.
• Build and manage relationships with key partners, including technology providers, fintech companies, and non-financial businesses looking to embed banking services.
• Negotiate contracts and service level agreements with partners to ensure smooth integration and proper regulatory compliance oversight.
• Oversee the day-to-day operations of the embedded banking platform, including onboarding, transaction processing, and first line risk management.
• Ensure adherence to all regulatory requirements and compliance standards related to banking services
• Build and lead a high-performing team of embedded banking specialists, including product managers, developers, and program managers.
• Foster a culture of innovation and continuous improvement within the embedded banking team.

Qualifications:

• Deep understanding of the banking industry, including regulations, product offerings, and technology landscape.
• Expertise in fintech and embedded finance solutions, including APIs, processors, and other integration platforms.
• Strong business development skills with experience in partnerships, negotiation, and strong revenue growth.
• Proven track record of leading product development teams and delivering successful financial services.
• Excellent communication and stakeholder management abilities to collaborate with cross-functional teams.
• Strong analytical skills to assess market opportunities and evaluate business performance

The hiring range for this position is $200,000 to $250,000 per year. The base pay actually offered will take into account internal equity and also may vary depending on the candidate's job-related knowledge, skills, and experience, among other factors. A bonus and/or incentives may be provided as part of the compensation package, in addition to the full range of medical, dental, vision, 401k, and other benefits.

Piermont Bank is an equal-opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We do not discriminate based upon race, religion, color, national origin, political affiliation, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, height, weight, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

Seniority level

• Seniority levelDirector

Employment type

• Employment typeFull-time

Job function

• Job functionManagement, Business Development, and Strategy/Planning
• IndustriesBanking

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Inferred from the description for this job

Medical insurance

Vision insurance

401(k)

Pension plan

Paid paternity leave

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