Minnesota Bank & Trust
Consumer Line of Business CFO
Minnesota Bank & Trust growing dynamic organization with many locations offering uniquely different banking and financial solutions for businesses and personal clients. As a performance driven company, we strive to create a culture of excellence with high standards, and high values while providing outstanding growth and involvement opportunities for employees. Join a team that makes "Great Things Happen!"
The Consumer Line of Business CFO is the lead financial manager for the Retail and Private Banking Lines of Business including the support of the Member Banks for both segments. This position is responsible to support the strategic direction of the Retail and Private Banking Lines of Business as well as consumer products including mortgage, credit card and consumer lending to ensure that financial objectives are achieved. In addition, this position will work with the EVP Head of Consumer, Member Bank Presidents and Wealth Management Regional Market Leaders to develop and deliver a management reporting structure which includes monthly close reporting, quarterly forecasting, an annual plan and strategic plan. The Consumer Line of Business CFO will develop key business metrics aligned with business drivers and financials to support management decisions. This role will also design and maintain financial analysis for the Consumer Line of Business to achieve growth goals while managing risk.
- Serves as the financial strategic partner to the EVP Head of Consumer, Member Bank Presidents and Wealth Management Regional Market Leaders.
- Partners with the EVP Head of Consumer and Wealth Management Regional Market Leaders to develop the short-term and long-term strategic vision/direction for the Consumer Line of Business across the member banks, considering economic trends, and estimating capital and human resource requirements associated with both business expansion opportunities and process improvement initiatives.
- Provides recommendations to strategically enhance financial performance and business opportunities.
- Contributes to the development and execution of Retail and Private Banking business plans, models and initiatives across the Member Banks in support of Consumer Bank strategic initiatives.
- Accountable for the financial management of the Consumer business.
- Establishes and achieves top quartile financial performance objectives and goals.
- In conjunction with the Corporate Budget Process, oversees the annual budget preparation for the Consumer Line of Business, including the Member Banks, to ensure proper alignment with strategic goals and market opportunities, and incorporates appropriate input from all Heartland functional units.
- Interprets and communicates monthly financial statements and other financial data by offering compelling insights and ideas to enhance and drive revenue growth, reduce costs and improve the overall financial performance of the Consumer business.
- Creates forecast projections aligned with current performance and taking market conditions into consideration. Identifies areas of risk and opportunity within forecast and partners with the EVP Head of Consumer, Member Bank Presidents and Wealth Management Regional Market Leaders while partnering with Regional CFOs to ensure financial objectives are achieved.
- Builds and maintains a FP&A infrastructure for the Consumer Line of Business to provide analysis to meet financial objectives.
- Creates consistent Retail and Private Banking financial statement balance sheet and P&L reports for close and forecast that are standardized across all business units within the Consumer Line of Business.
- Owns and is responsible for ensuring entity, account, product hierarchy structure with appropriate roll ups for close, forecast and plan are maintained with the key financial reporting systems and data warehouse.
- Identifies business key performance metrics that are drivers of financial performance. Integrates key metrics into reporting environment. Owns and is responsible for defining and ensuring that the data governance needs of the Consumer Line of Business are met and delivered through the data warehouse to ensure consistency across the organization.
- Partners with Corporate Treasury to develop, manage and deliver Funds Transfer Pricing methodology for Consumer loan and deposit products for accurate net interest margin.
- Defines management reporting requirements that support effective decision making for the Consumer Line of Business.
- Manages changes to reports, ensuring that changes become standardized and are integrated into the controlled production reporting environment.
- Leads the analysis of the Consumer Line of Business and for Consumer Products in the Member Banks.
- Proactively partners with EVP Head of Consumer, Member Bank Presidents and Wealth Management Regional Market Leaders to increase shareholder value by (1) identifying opportunities to improve net income, (2) developing financial methodologies and tools for use in loan and deposit pricing, budgeting and planning, and (3) interpreting and assisting to drive accountability to achieve goals at the bank, branch, product, and officer levels.
- Provides financial leadership and guidance to EVP Head of Consumer, Member Bank Presidents and Wealth Management Regional Market Leaders including benchmarks regarding the Consumer Line of Business revenue and cost structure to driving efficiencies and top quartile performance.
- Manages Consumer deposit pricing partnering with EVP Head of Consumer, Member Bank Presidents, Wealth Management Regional Market Leaders, Regional CFOs and Treasury to support deposit growth.
- Creates alignment between Corporate Finance, Heartland functional units, LOBs and the member Banks on Consumer Line of Business analysis standards.
- Branch distribution analysis using branch profitability and market information to evaluate closure and expansion decisions.
- Manages Wealth Management personal net asset flows and pricing for volume and rate changes including understanding the client level changes and impact to the P&L.
- Manages Mortgage production, P&L gain/loss and mortgage servicing rights business measurements and related impacts on balance sheet and P&L.
- Leads and drives the implementation of agreed upon changes.
- Supports Retail and Private Banking Compensation Plan financial calculations and metrics.
- Coordinates and assists Corporate ALCO in the preparation and analysis of quarterly interest earnings simulation and net economic value sensitivity forecasts. Utilizes the forecasts to set the strategic direction of the Consumer Line of Business for earnings, liquidity and capital.
- Communicates complex financial issues in a clear and concise manner to ALCO, executive management, senior managers, member Bank boards, regulators and both internal and external auditors.
- Completes annual E-Learning Plan and Bank Secrecy Act (BSA) training as assigned and keeps up-to-date knowledge of BSA as it relates to the job function.
- Performs other duties as assigned.
- Works with department staff on individual professional development and career development opportunities. Facilitates team members in creating individual goals and development plans that align with the department goals.
- Works with Heartland Financials Talent Acquisition team to identify and hire the most qualified and talented individuals to fill open positions.
- Provides information and on-going feedback to department staff regarding expectations and performance, salary adjustments and/or promotions.
- Addresses and resolves all performance concerns and issues in a timely manner.
- Prepares and conducts annual performance reviews within established deadlines.
- Directly supervises a staff of up to 3 Financial Analysts.
- Bachelors Accounting, Business Administration/Management, Finance required
- Masters Finance preferred
- 10+ years accounting and finance experience with financial leadership role(s) in banking required
- 7-10 years experience with budgeting, forecasting and financial reporting required
- Knowledge of Consumer banking operations and FDIC regulations required
- Strong understanding of bank products, cash flow, and risk attributes
- Proficient with Microsoft Office Suite
Scheduled Weekly Hours:40
Time Type:Full time
At Minnesota Bank & Trust, we are committed to attracting, retaining and empowering talented professionals who aim to be a part of our thriving team and cultivate our diverse workforce. We recognize and value the importance of providing a positive and professional work environment. We are a diverse and inclusive workplace creating an environment where work feels like a second home.
Our Leaders are actively engaged with our employees. Our commitment to our employees is supported by a leadership team that is dedicated to help you grow your career as far as you would like to take it. We work closely with our employees to strategize individual professional development plans, performance goals and professional development opportunities. In addition to a competitive benefits package that includes a health and retirement plans; we also offer tuition reimbursement, student debt assistance, pet insurance and much more!
As a team, we strive to make significant impacts in our communities. We contribute to serve locally! We love our neighbors and our track record shows it. Since 2019, our employees volunteered over 520 hours to 39 local organizations, and Minnesota Bank & Trust has contributed more than $225,000 in sponsorships and donations. To help give back to our community, each employee is provided volunteer hours with a non-profit organization of their choice. We understand the importance of having a strong community and our role in contributing to the communities we serve. We know how important is it to give back and we do our part with pride!
Our employees are what drives our banks success and longevity. We strive build the best team possible to live our mission statement every day. We are enriching lives one customer, employee and community at a time.EOE/AA Employer M/F/Disabled/VetMember FDIC Equal Housing Lender
Employment at Heartland Financial USA, Inc. is employment at will