Position Summary:

The First National Bank in Sioux Falls is seeking a strategic and visionary Chief Financial Officer (CFO) to lead our financial strategy and operations. As a key member of the executive leadership team, the CFO will oversee financial planning, risk management, compliance, and enterprise risk, ensuring sustainable growth and profitability.

In this role, the CFO will:

• Drive investment strategy and portfolio management
• Collaborate with business unit leaders to align financial strategies with organizational objectives
• Utilize data-driven insights to identify opportunities, mitigate risks, and enhance decision-making
• Serve as Chair of the Asset Liability Committee (ALCO)
• Lead the Enterprise Risk Management and Compliance functions

At its core, this position demands exceptional Leadership, Management, and Accountability (LMA) to drive measurable results and inspire organizational success.

In addition, our FIRST Values apply to all teammates without exception.

FIRST Values

• Family – We support, trust, and respect each other, our customers, and our shareholders.
• Independence & Innovation – We embrace change as vital to our success.
• Relationships – We build relationships that are based on strong character, mutual loyalty, trust, and respect.
• Stewardship – We take care of ourselves so we can take care of others.
• Teamwork – We help each other grow and succeed.

Who we are:

The First National Bank in Sioux Falls began its long-term commitment to the Sioux Falls area in 1885. The oldest bank in Sioux Falls owes its longevity to a combination of service, stability, innovation, and family involvement. Over the past 140 years, The First National Bank in Sioux Falls has worked diligently to promote the growth and vitality of our city and the surrounding area. The Bank strives to continually be recognized as a community leader by reinvesting financial resources back into the communities it serves and encouraging active employee involvement in community volunteer organizations.

The First National Bank Way, which is a blend of our Mission Statement and FIRST Values, serves as the foundation of our culture. It is a gift that has been passed down to us and is the legacy that we will protect and preserve. Nothing is more important to us – it is the cornerstone of our success.

Our culture is driven by integrity, service, and strong values; nothing has shaped it more than our FIRST Values.

Our FIRST Values are not just words; they are truly felt by our employees, customers, shareholders, and communities. They tell us who we are as a business and guide our behaviors and decisions as we move forward and build successful relationships.

Although banking has evolved over the years, our mission and values have not and will not change.

What will you do:

Accountabilities

Leadership, Managing, Accountability (LMA)

• Leadership:
  • Demonstrate Executive Presence, leading with confidence, professionalism, and ethical integrity, fostering trust among stakeholders while upholding the highest standards of financial stewardship and corporate governance.
  • Set a clear vision for the Bank’s financial strategy and inspire teams to achieve organizational goals.
  • Promote alignment with the Bank’s mission, vision, and core values across all teams and departments.
  • Provide strategic leadership to managers with the ability to delegate, motivate and empower teammates to turn strategic initiatives into actionable and accountable behaviors.
• Management:
  • Lead, mentor, and oversee the performance of the finance, enterprise risk, compliance, and accounting teams.
  • Implement effective tools and processes to optimize financial operations.
  • Ensure consistent and clear communication of priorities, goals, and expectations.
• Accountability:
  • Establish and monitor performance metrics, KPIs, and reporting systems for financial operations.
  • Take ownership of financial strategies, creating accountability for results within teams.
  • Results-oriented mindset, setting goals and holding teammates accountable for reaching them.

Strategic Financial Leadership

• Financial Strategy and Planning:
  • Advise the CEO and Board on financial planning, budgeting, and capital needs.
  • Assess financial performance, market trends, and economic conditions for strategic decisions.
  • Use data to enhance forecasting, resource allocation, and efficiency.
  • Advocate for new financial technologies to improve reporting accuracy and decision-making.
  • Create clear presentations for stakeholders using data visualization tools.
  • Develop financial strategies aligned with the Bank's goals, including due diligence for acquisitions and potential new lines of business
  • Use complex financial models for strategic decisions, forecasting, valuation, scenario analysis, and risk assessment.
  • Oversee stock redemption processes to ensure compliance with shareholder agreements.
  • Execute capital planning initiatives for long-term stability and growth.
  • Ensure financial statements comply with GAAP and regulatory standards.
• Investment Strategy and Management:
  • Develop and oversee the bank’s investment strategy to achieve optimal returns while managing risk.
  • Monitor and manage the bank’s investment portfolio, ensuring compliance with regulatory guidelines, risk appetite, and internal policies.
  • Stay informed about market trends, economic conditions, and interest rate forecasts to make informed investment decisions.
  • Partner with external advisors or stakeholders as needed to optimize portfolio performance.
  • Provide regular investment performance updates and strategic recommendations to the Executive Team and Board of Directors.
• Collaboration with Business Units:
  • Develop a deep understanding of individual business units’ operations, goals, and financial needs, providing financial insights for growth and profitability. Advise leaders on financial challenges and opportunities.
  • Partner with business unit leaders to align financial planning and analysis with their strategic objectives.
  • Ensure financial strategies enhance operational efficiency and align with overall Bank goals.
• Asset Liability Committee (ALCO) Leadership:
  • Chair the Asset Liability Committee (ALCO), leading discussions and decisions related to interest rate risk, liquidity management, and balance sheet strategy.
  • Analyze and interpret balance sheet data to assess financial risks and opportunities.
  • Provide recommendations to optimize asset-liability management in alignment with the bank’s risk appetite and financial objectives.
  • Ensure compliance with regulatory requirements and ALCO-related policies.

Risk Management

• Enterprise Risk Management and Compliance Oversight:
  • Oversee the Bank's Enterprise Risk Management and Compliance Departments to ensure effective identification, assessment, and mitigation of risks.
  • Ensure adherence to all regulatory requirements, internal policies, and risk management frameworks.
  • Effectively assess financial risks and make calculated recommendations or decisions based on those assessments.
  • Collaborate with department leaders to maintain a proactive approach to risk and compliance challenges.
  • Lead risk management initiatives to safeguard the Bank’s financial health.
  • Ensure compliance with all banking regulations.
  • Build relationships with external auditors, regulators, and financial institutions.
  • Oversee the Bank’s capital structure, ensuring optimal liquidity and profitability.

Qualifications

• Bachelor’s degree in Finance, Accounting, Economics, or related field. Master’s degree or professional certifications (CPA/CFA) preferred.
• 10+ years of progressive financial leadership, with demonstrated success in banking or financial services, including an emphasis in the areas of accounting, investments, liquidity management, interest rate risk management, leadership, and management functions.

Skills and Abilities

• Exceptional analytical, decision-making, and communication skills.
• Experience facilitating change and innovation in a $1.5B+ community bank and balancing the need for change with preservation of culture and focusing on the achievement of long-term goals.
• Extensive knowledge of the Bank balance sheet management and demonstrated financial acumen.
• The ability to nurture and develop financial talent.
• Open communicator, providing a free flow of information and communication throughout the organization, listens actively, and encourages and demonstrates open expression of ideas and opinions.
• Excellent verbal and written communication skills.
• Ability to work as a facilitator, coach and/or mentor to others.
• Ability to conduct relationships in a manner that ensures integrity, cooperation and positive results.
• Excellent organizational skills and attention to detail. High degree of accuracy required.
• Critical thinking skills, including strategic thinking and effective analysis of data.
• Ability to adapt to the needs of the organization and teammates.

What’s in it for you?

• Health Insurance
• Dental & Vision Insurance
• Profit Sharing
• Paid Vacation & Holidays
• Company paid Short- and Long-Term Disability
• Tuition Reimbursement Program
• Teammate Banking Perks
• Community Volunteer Time
• And More!