Executive Vice President & Chief Financial Officer

Dacotah Bank - Aberdeen, SD

Full-time - Executive

Aberdeen, SD

Credit Intermediation and Related Activities

About the position

The Executive Vice President & Chief Financial Officer (CFO) is a pivotal role responsible for overseeing all financial management and strategic aspects of the Company's operations. This position entails the development and expansion of the Company's fiscal capacity, ensuring that financial programs and supporting information systems are effectively created, coordinated, and evaluated. The CFO will prepare comprehensive financial reports, including income statements and balance sheets, that accurately reflect the financial condition of the Company. This role also involves identifying opportunities for cost-effective investments in the Bank's systems and resources, establishing internal control safeguards, and monitoring hedging strategies to manage the Bank's balance sheet effectively. In addition to financial management, the CFO will be responsible for forecasting and modeling the capital and liquidity needs of the Company, coordinating efforts to raise additional capital, and providing recommendations on capital and liquidity for growth. The role includes overseeing the Company's Capital Planning Policy and ensuring compliance with local, state, and federal reporting requirements. The CFO will interact with other managers to provide consultative support to planning initiatives and execute ongoing modeling of Company performance and economic trends. The CFO will also play a significant role in senior management, working closely with the Boards of Directors and other stakeholders to ensure effective operation and compliance with laws and regulations. This includes serving on various committees and keeping current with trends in the financial services industry. The position requires active participation in strategic planning, including the design and communication of the Company's Strategic Plan, and identifying opportunities for growth through comprehensive due diligence of potential acquisitions. Community involvement is also a key aspect of this role, as the CFO will maintain an active presence in local, state, and national charitable and professional organizations, providing policy direction and promoting the Company's perspectives to legislators and regulatory agencies.

Responsibilities

• Create, coordinate and evaluate financial programs and supporting information systems of the Company.
• 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.
• 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.
• Monitor and analyze related metrics activity against budget or goals and provide executive level reports to management and the Boards of Directors.
• Forecast and model the capital and liquidity needs of the Company consistent with its strategic objectives.
• Oversee the Company's Capital Planning Policy, capital risk profile and growth strategies.
• Enhance the Company's stress testing to ensure forward-looking analysis of lending concentrations, adequate levels of capital and the allowance for credit losses.
• Ensure compliance with local, state and federal reporting requirements.
• Interact with other managers to provide consultative support to planning initiatives through financial and management information analyses.
• Execute ongoing modeling of Company performance and economic trends, providing alternate scenarios and guidance to Board members, management and shareholders.
• Process annual directors and officers, financial institution, and real and personal property insurance and bonding coverages.
• Work with the Boards of Directors and management to ensure effective operation of the Company and compliance with all laws and regulations.
• Serve as an active member of senior management in the design, development and communication of the Company's Strategic Plan.
• Monitor the external environment and identify opportunities to fulfill the Strategic Plan.
• Maintain an active role in community and professional relations.

Requirements

• Master'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.
• Proven ability to build an effective team and develop, coach, and manage a staff.
• Certified Management Accountant (CMA) or Certified Public Accountant (CPA) certification is desired, but not required.
• Direct experience, knowledge and training in the financial management of a full-service commercial bank.

Nice-to-haves

• Previous financial institution experience is preferred and an expectation for employment in the role for no fewer than five to seven years.
• Strong coach and developer of talent within the accounting and finance team.
• High involvement in making community connections and engagement in community and industry-related matters.
• Deep curiosity for fintech, cryptocurrency, and AI.