Dacotah Banks Inc.
Executive Vice President & Chief Financial Officer
Dacotah Banks Inc., Aberdeen, South Dakota, United States, 57401
Job Category : ExecutiveRequisition Number : EXECU002515Apply nowPosted: September 9, 2024Full-TimeLocations
Showing 1 locationResponsible for all financial management and strategy aspects of the Company’s operations and development and expansion of the Company’s fiscal capacity. Provide leadership and coordination of the accounting, asset and liability management, budgeting and business planning efforts of the Company. Mentor and develop employees, peers, leaders, and board members shaping the future of the Company’s financial success.Essential FunctionsFinancial Management.
Create, coordinate and evaluate financial programs and supporting information systems of the Company to include budgeting, tax planning, real estate, and conservation of assets. Prepare all financial reports, including income statements and balance sheets, that accurately reflect the financial condition of the Company. Identify opportunities for the appropriate and cost-effective investment of financial resources in the Bank’s systems and resources, including staffing, sourcing, purchasing, and in-house development. Establish and maintain appropriate internal control safeguards. Create and monitor appropriate hedging strategies to ensure appropriate management of the Bank’s balance sheet. Effectively manage the Accounting and Finance Department of the bank by providing direction, support, feedback and coaching to ensure the departments provide superior customer service and consistently adhere to established bank policies and procedures. Monitor and analyze related metrics activity against budget or goals and provide executive level reports to management and the Boards of Directors.Forecasting and Modeling.
Forecast and model the capital and liquidity needs of the Company consistent with its strategic objectives; coordinate efforts to raise additional capital; and provide recommendations and consistent feedback on capital and liquidity needed for growth. Oversee the Company’s Capital Planning Policy, capital risk profile and growth strategies. Establish and monitor capital limits that reflect the Company’s current and prospective risk profile, forward looking capital forecasts and verification of capital contingency sources. Enhance the Company’s stress testing to ensure forward-looking analysis of lending concentrations, adequate levels of capital and the allowance for credit losses. Quantify the impact of changing economic conditions on the Company’s asset quality, earnings and capital. Regularly perform operational and business line analysis and model scenarios that assess the viability of locations, products and services, and the optimal deployment of employees and capital.Legal and Regulatory Compliance.
Ensure compliance with local, state and federal reporting requirements. Oversee the approval and processing of revenue, expenditures, department budgets and general ledger. Interact with other managers to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations, including the identification of best practices within the Company and the application of the same to other markets or departments. Execute ongoing modeling of Company performance and economic trends, providing alternate scenarios and guidance to Board members, management and shareholders. Ensure financial records systems are maintained in accordance with Generally Accepted Accounting Principles (“GAAP”). Oversees completion of all required bank and holding company regulatory reports.Insurance and Bonding.
Process annual directors and officers, financial institution, and real and personal property insurance and bonding coverages.Senior Management.
Work with the Boards of Directors (including service as a liaison to the Dacotah Banks, Inc. Financial Performance Committee), management and staff, outside consultants, and federal, state, and local legal and regulatory officials to help ensure the effective operation of the Company and compliance with all laws and regulations pertaining to the Company; and advise on policy questions, business development, staff requirements and other administrative matters. Serves as a member of the Steering, Asset and Liability Management (Chair), Culture, Investment, Sales and Marketing and Talent Management Committees, and the Executive and Presidents Councils. Keep current with trends and issues in the financial services industry and advise, counsel, and educate management on the Company’s competitive position. Perform other duties as assigned by the chief executive officer.Strategic Planning.
Serve as an active member of senior management in the design, development and communication of the Company’s Strategic Plan and work with management to maintain a planning model that supports the Company's Mission based on internal and external needs assessments. Monitor the external environment and identify opportunities to fulfill the Strategic Plan by identifying and implementing strategies designed to grow and enhance the financial performance of the Company, including proactively seeking out, identifying and completing comprehensive due diligence of potential acquisition or de novo opportunities and presenting the same to management and the Boards of Directors. Assess current models of business operations and recommend modifications of the same or appropriate new models as needed. Prepare and assist with the business and strategic plan of each business line and the Bank.Community and Professional Involvement.
Maintain an active role in community and professional relations including involvement in local, state, and national charitable and professional organizations. Provide policy direction and lead efforts to promote Company perspectives to local, state and federal legislators and regulatory agencies, and the general public.Education, Skill, & ExperienceMaster’s degree in accounting or finance with ten years of progressively responsible experience in senior-level accounting or finance roles; or bachelor’s degree in accounting or finance with 15 years of progressively responsible experience in senior-level accounting or finance roles, and proven ability to build an effective team and develop, coach, and manage a staff.Certified Management Accountant (CMA) or Certified Public Accountant (CPA) certification and direct experience, knowledge and training in the financial management of a full-service commercial bank are desired, but not required.Critical Attributes for Success:Communication and Executive Presence.
Exceptional communication skills and a commanding executive presence to inspire confidence among customers, Board members, leadership, employees, and regulatory agencies. Exceptional leadership presence, professionalism and the ability to engage effectively with a diverse range of stakeholders. Additionally, must leverage sophisticated reporting to clearly communicate the Company’s focus areas and drive strategic conversations. Reports should be designed to be self-explanatory, fostering understanding, trust, and action across all audiences.Proactive, Strategic Modeling and Ideation Partner.
Crucial in shaping the Company’s future through advanced financial modeling and strategic scenario development. Produce accurate reports and use sophisticated models to anticipate market changes, preparing the leadership team for complex situations. Drives high-level discussions, guides strategic decisions and identifies opportunities for growth. Provide essential financial insights and foster informed conversation to enhance decision-making quality while collaborating with senior leadership.Visibility and Relationship Building.
Highly visible and accessible, collaborating closely with senior leadership to address business issues, explore opportunities and build high-trust relationships. Excels in relationship building and stakeholder management, ensuring effective communication and engagement with Board members, peers, employees, auditors, regulators, and other external stakeholders to drive the business forward and achieve strategic goals.Other Preferred Leadership Qualities and ExperiencesActive partner in operational efficiencies examples including but not limited to engaging with regional presidents leveraging financial ratios and deeper understanding of performance and practices relative to other regions. Support leaders and act as a thought partner to make more informed decisions with bottom-line implications. An actively engaged contributor to strategy including financial modeling, a thought partner to chief strategy officer and other senior leaders and advance experimentation of new technology or products and services to markets. Strong coach and developer of talent within the accounting and finance team. Has an overall deep curiosity for fintech, cryptocurrency, and AI. High involvement in making community connections and engagement in community and industry-related matters.Previous financial institution experience is preferred and an expectation for employment in the role for no fewer than five to seven years.Candidate Location:
We are open for the successful candidate to live in any of our communities. Should the successful candidate live outside of Aberdeen, candidate will be expected to travel and work in Aberdeen and other specified locations as many as eight days per month.Qualifications
Skills
Behaviors
:Motivations
:Education
Experience
Licenses & Certifications
Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThe contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
#J-18808-Ljbffr
Showing 1 locationResponsible for all financial management and strategy aspects of the Company’s operations and development and expansion of the Company’s fiscal capacity. Provide leadership and coordination of the accounting, asset and liability management, budgeting and business planning efforts of the Company. Mentor and develop employees, peers, leaders, and board members shaping the future of the Company’s financial success.Essential FunctionsFinancial Management.
Create, coordinate and evaluate financial programs and supporting information systems of the Company to include budgeting, tax planning, real estate, and conservation of assets. Prepare all financial reports, including income statements and balance sheets, that accurately reflect the financial condition of the Company. Identify opportunities for the appropriate and cost-effective investment of financial resources in the Bank’s systems and resources, including staffing, sourcing, purchasing, and in-house development. Establish and maintain appropriate internal control safeguards. Create and monitor appropriate hedging strategies to ensure appropriate management of the Bank’s balance sheet. Effectively manage the Accounting and Finance Department of the bank by providing direction, support, feedback and coaching to ensure the departments provide superior customer service and consistently adhere to established bank policies and procedures. Monitor and analyze related metrics activity against budget or goals and provide executive level reports to management and the Boards of Directors.Forecasting and Modeling.
Forecast and model the capital and liquidity needs of the Company consistent with its strategic objectives; coordinate efforts to raise additional capital; and provide recommendations and consistent feedback on capital and liquidity needed for growth. Oversee the Company’s Capital Planning Policy, capital risk profile and growth strategies. Establish and monitor capital limits that reflect the Company’s current and prospective risk profile, forward looking capital forecasts and verification of capital contingency sources. Enhance the Company’s stress testing to ensure forward-looking analysis of lending concentrations, adequate levels of capital and the allowance for credit losses. Quantify the impact of changing economic conditions on the Company’s asset quality, earnings and capital. Regularly perform operational and business line analysis and model scenarios that assess the viability of locations, products and services, and the optimal deployment of employees and capital.Legal and Regulatory Compliance.
Ensure compliance with local, state and federal reporting requirements. Oversee the approval and processing of revenue, expenditures, department budgets and general ledger. Interact with other managers to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations, including the identification of best practices within the Company and the application of the same to other markets or departments. Execute ongoing modeling of Company performance and economic trends, providing alternate scenarios and guidance to Board members, management and shareholders. Ensure financial records systems are maintained in accordance with Generally Accepted Accounting Principles (“GAAP”). Oversees completion of all required bank and holding company regulatory reports.Insurance and Bonding.
Process annual directors and officers, financial institution, and real and personal property insurance and bonding coverages.Senior Management.
Work with the Boards of Directors (including service as a liaison to the Dacotah Banks, Inc. Financial Performance Committee), management and staff, outside consultants, and federal, state, and local legal and regulatory officials to help ensure the effective operation of the Company and compliance with all laws and regulations pertaining to the Company; and advise on policy questions, business development, staff requirements and other administrative matters. Serves as a member of the Steering, Asset and Liability Management (Chair), Culture, Investment, Sales and Marketing and Talent Management Committees, and the Executive and Presidents Councils. Keep current with trends and issues in the financial services industry and advise, counsel, and educate management on the Company’s competitive position. Perform other duties as assigned by the chief executive officer.Strategic Planning.
Serve as an active member of senior management in the design, development and communication of the Company’s Strategic Plan and work with management to maintain a planning model that supports the Company's Mission based on internal and external needs assessments. Monitor the external environment and identify opportunities to fulfill the Strategic Plan by identifying and implementing strategies designed to grow and enhance the financial performance of the Company, including proactively seeking out, identifying and completing comprehensive due diligence of potential acquisition or de novo opportunities and presenting the same to management and the Boards of Directors. Assess current models of business operations and recommend modifications of the same or appropriate new models as needed. Prepare and assist with the business and strategic plan of each business line and the Bank.Community and Professional Involvement.
Maintain an active role in community and professional relations including involvement in local, state, and national charitable and professional organizations. Provide policy direction and lead efforts to promote Company perspectives to local, state and federal legislators and regulatory agencies, and the general public.Education, Skill, & ExperienceMaster’s degree in accounting or finance with ten years of progressively responsible experience in senior-level accounting or finance roles; or bachelor’s degree in accounting or finance with 15 years of progressively responsible experience in senior-level accounting or finance roles, and proven ability to build an effective team and develop, coach, and manage a staff.Certified Management Accountant (CMA) or Certified Public Accountant (CPA) certification and direct experience, knowledge and training in the financial management of a full-service commercial bank are desired, but not required.Critical Attributes for Success:Communication and Executive Presence.
Exceptional communication skills and a commanding executive presence to inspire confidence among customers, Board members, leadership, employees, and regulatory agencies. Exceptional leadership presence, professionalism and the ability to engage effectively with a diverse range of stakeholders. Additionally, must leverage sophisticated reporting to clearly communicate the Company’s focus areas and drive strategic conversations. Reports should be designed to be self-explanatory, fostering understanding, trust, and action across all audiences.Proactive, Strategic Modeling and Ideation Partner.
Crucial in shaping the Company’s future through advanced financial modeling and strategic scenario development. Produce accurate reports and use sophisticated models to anticipate market changes, preparing the leadership team for complex situations. Drives high-level discussions, guides strategic decisions and identifies opportunities for growth. Provide essential financial insights and foster informed conversation to enhance decision-making quality while collaborating with senior leadership.Visibility and Relationship Building.
Highly visible and accessible, collaborating closely with senior leadership to address business issues, explore opportunities and build high-trust relationships. Excels in relationship building and stakeholder management, ensuring effective communication and engagement with Board members, peers, employees, auditors, regulators, and other external stakeholders to drive the business forward and achieve strategic goals.Other Preferred Leadership Qualities and ExperiencesActive partner in operational efficiencies examples including but not limited to engaging with regional presidents leveraging financial ratios and deeper understanding of performance and practices relative to other regions. Support leaders and act as a thought partner to make more informed decisions with bottom-line implications. An actively engaged contributor to strategy including financial modeling, a thought partner to chief strategy officer and other senior leaders and advance experimentation of new technology or products and services to markets. Strong coach and developer of talent within the accounting and finance team. Has an overall deep curiosity for fintech, cryptocurrency, and AI. High involvement in making community connections and engagement in community and industry-related matters.Previous financial institution experience is preferred and an expectation for employment in the role for no fewer than five to seven years.Candidate Location:
We are open for the successful candidate to live in any of our communities. Should the successful candidate live outside of Aberdeen, candidate will be expected to travel and work in Aberdeen and other specified locations as many as eight days per month.Qualifications
Skills
Behaviors
:Motivations
:Education
Experience
Licenses & Certifications
Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThe contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
#J-18808-Ljbffr