Stearns Bank N.A.

Chief Financial Officer

Stearns Bank N.A.

full-time

Posted on:

Location Type: Office

Location: St. Cloud • Minnesota • United States

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Salary

💰 $170,000 - $400,000 per year

Job Level

Lead

About the role

  • Serves as the Bank’s lead financial executive overseeing and representing the Bank’s Accounting Department and all financial and accounting operations of the Bank.
  • Develops sound, progressive and effective programs in the areas of funding, investments, cash management, forecasting, budgeting, and similar activities within guidelines established by the Bank and the Board of Directors; provides supervision, mentorship, and support to all assigned areas of department operations where service or assistance is needed.
  • Participates and assists the Bank in formulating and meeting overall strategic business plans and goals, including the Bank’s annual operating budget, capital plan and budget, and interest rate risk (IRR) strategy; at the direction of the President & CEO coordinates the preparation and execution of the Bank’s strategic business plan; develops strategies and tactical business plans to help achieve organizational objectives; participates in the development and implementation of both short and long range financial plans; recommends new efforts to improve ROE/ROA; determines the appropriate allocation of resources to ensure maximum profits commensurate with the best interests of shareholders, customers and employees; and provides expert financial advice and input to board of directors and senior management, contributing to their overall business planning strategy.
  • Serves as chairperson of the Bank’s Asset/Liability Committee (ALCO) and coordinates the Bank’s asset/liability management programs to facilitate the assessment and control of interest rate risk and ensures compliance with Bank financial objectives.
  • Plans, coordinates, and executes effective processes related to the Bank’s capital and asset and liability structure by evaluating the structure position and strategies in order to maximize the Bank’s interest margin and overall profitability while managing the Bank’s interest rate risk position in a safe and sound manner, including, but not limited to, the review of the Bank’s loan portfolio for pricing and maturity distribution, the review of the Bank’s investment portfolio to ensure adequate pre-purchase analysis is performed on all investment securities and that investments are performing as expected, the review of the Bank’s deposit pricing and maturity stratification, and that adequate liquidity is maintained via line of credit or liquid investments.
  • Conducts financial and management reporting processes; prepares forecasting and budgeting plans, and conducts regular and ad-hoc financial reporting as required by the Board of Directors, President, CEO, shareholders, and other members of Senior Management, including, but not limited to, production reporting, financial analysis at the product and cost center level, and expense control.
  • Communicate with President and CEO regarding overall financial soundness of organization.
  • Coordinates the requirements and activities of external auditors and examiners during audits and examinations.
  • Assures audit compliance and procedure quality control are maintained for the department and Bank; reviews, recommends and initiates corrective action(s); oversees certification and audit activities for all branches and departments; ensures department is in compliance with established bank policies, procedures, and state and federal regulations.
  • Assures that all regulatory, industry, internal and other external financial and operating reports are prepared in an accurate and timely manner.
  • Assure smooth flow of information throughout the organization and coordinate the various functional operations.
  • Research, develop, and implement new strategies for profitability and operating efficiency.
  • Maintain a working knowledge of all legal and regulatory compliance issues as they pertain to this position.
  • Develops, implements, and monitors accounting policies, procedures, practices, and internal controls; establishes and maintains accounting, and fiscal controls and the preparation and interpretation of internal and external financial reports; conducts business line and product profitability analysis; works with the Chief Credit Officer in the calculation and methodology of the Bank’s allowance for loan and lease losses /current expected credit losses.
  • Participates in the evaluation of potential merger and acquisition (M&A) candidates and coordinates the preparation of M&A financial projections.
  • Manages the application of funds transfer pricing to assets and liabilities and risk-adjusted return on capital calculations in connection with the evaluation of commercial loan opportunities.
  • Supervises various accounting functions, including but not limited to, general ledger, accounts payable and receivable, payroll, and benefits administration, maintenance and storage of proper financial records, and computation of Federal Reserve Bank reserves.
  • Studies long-range economic trends and project company prospects for future growth in overall sales and market share, opportunities for acquisitions or expansion into new product areas, and estimates requirements for capital, land building, and workforce increases.
  • Loss prevention and security as applicable for this position.
  • Maintain a working knowledge of all legal and regulatory compliance issues as they pertain to this position.
  • Perform other duties as necessary for the efficient operations of the department and organization. Complete required training.

Requirements

  • Bachelor's degree (B.A.) in finance/accounting or related major from a four-year college or university required; Masters Degree in finance/accounting or related major preferred.
  • CPA certification preferred
  • 15+ years related experience required
  • Excellent computer skills required.
  • Experience with Profit Star, FiServ systems preferred.
  • Excellent organizational & communication skills
  • Flexible
  • Creative
  • Innovative
  • Ambitious
  • Proactive
  • Collaborative
Benefits
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Applicant Tracking System Keywords

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Hard Skills & Tools
financial reportingbudgetingforecastingasset/liability managementfinancial analysisprofitability analysisinternal controlscash managementinvestment analysismerger and acquisition (M&A) analysis
Soft Skills
organizational skillscommunication skillsflexibilitycreativityinnovationambitionproactivitycollaborationmentorshipleadership
Certifications
Bachelor's degree in finance/accountingMaster's degree in finance/accountingCPA certification