Possess a solid financial knowledge of treasury, budgeting, taxes, accounting, asset and liability management, and financial control activity. This Officer plans, directs, and controls the organization’s overall financial plans and policies, accounting practices, and relationships with lending institutions, shareholders, and the financial community. Develops and coordinates necessary and appropriate accounting and statistical data and reports. Counsels management on fiscal control and profitability. Responsible for the fair measurement and presentation of the company’s financial results and condition under U.S. GAAP, and for the safeguarding and optimum use of the organization’s assets in order to maximize return. The CFO directs the accounting and treasury functions providing leadership, training and supervision while ensuring compliance with company policies and procedures, applicable state and federal banking regulations and laws.
Communicates with the Board of Directors, President, Strategic Committee, management staff and individual customers regarding strategic recommendations, financial results and policies which effect the organization to assure that they are timely, accurately and adequately informed about matters which affect the financial institution.
Monitors interest rate, credit and portfolio risk status and set limitations as required for Asset/Liability Management. Identify ways to reduce interest rate risk and sensitivity. Provide detailed ALCO and Investment reports to Board and Executive Management. Updates the ALM policy in accordance with governing rules and regulations.
Directs the activities related to compliance/internal audit to ensure compliance with Bank policies and regulations determined to be of greater risk by the audit committee within the internal audit program. Direct the reporting to the regulatory authorities and to the Board.
Manage and optimize the investment and borrowing portfolios of the company in order to achieve above average earnings and safeguard the assets of the financial institution for the customers.
Oversee budget planning, preparation and administration processes to control operating expenses and achieve the company’s strategic objectives.
Serves on several committees as required, such as Asset-Liability Committee, Compliance Committee, and Audit Committee.
Oversees all required regulatory reporting to assure compliance in the most cost-effective manner and minimize legal liabilities.
Manage the financial institution’s Risk Management program; acquire adequate and appropriate casualty and liability insurance coverage to adequately protect the financial institution from various types of exposure.
Serve as trustee for the Employee’s Pension Plan representing the plan participants’ best interest in a manner that assures accurate accounting and compliance with all pertinent regulations.
Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Ten years of accounting, finance, banking experience in financial reporting, and compliance or other similar activity. Experience in investment strategies and management of liquidity and investment portfolios. A post graduate degree in accounting/finance (similar to a CPA, or MBA).
Experience in generally accepted accounting principles and all State and Federal regulations, including those of the Financial Accounting Standards Board, affecting the company’s finance function. Experience in budget forecasting and regulatory reporting. Knowledge of income tax regulations and requirements for banks.
All employees are expected to actively promote Legacy Bank to existing and prospective customers in order to obtain and build the Banks customer base and thereby enhance Legacy Banks growth and profitability.
Nothing in this position description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
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Legacy Bank has been recognized as a strong community bank serving the financial needs of the greater Sedgwick County area communities since opening for business on February 22, 1886 as the “Bank of Colwich” in Colwich, Kansas. (Re-chartered “The State Bank of Colwich” in 1891, and later renamed “Legacy Bank” in 2000). Legacy Bank is guided by a rich heritage built on integrity, honesty and soun...d business practices.
Clemens Suellentrop purchased major interest in the Bank in 1911 and the Suellentrop Family has maintained ownership and leadership since that time.
Frank A. Suellentrop is currently the fourth generation chairman and president (since 1991) taking the Bank from $48 million in assets to $353 million today. There are now seven Legacy Bank locations and 85 dedicated employees with a shared Vision – “Building a LEGACY through relationships, service and solutions”.