Banim, 41, made his name as a prolific goalscorer and became joint manager of the Robins in September 2016.
He led the club to promotion to National League North in 2017/18, but they made an immediate return to the NPL.
They have managed just four wins from 14 league games this season and Banim's last game in charge was a 4-0 home defeat to Nantwich Town on Saturday.
A club statement said: "The club wishes to place on record our thanks to Jody for his commitment and work over the past few years, both as a player and manager, especially in achieving promotion to The National League North.
"We wish him all the very best for the future."
Keep up-to-date with our exclusive email newsletters.
Subscribe