Demo
Salary Resume Critique Job Openings

Chief Financial Officer

First National Bank of Milaca
Milaca, MN Full Time
POSTED ON 2/8/2025
AVAILABLE BEFORE 5/7/2025

Job Purpose :

The Chief Financial Officer (CFO) is responsible for the Bank’s financial planning and management and is a member of the bank’s executive team. The CFO should have a strong background in finance, accounting, or business and have extensive educational or work experience in one of these areas. They are responsible for financial planning, budgeting, risk management, capital structure, cash flow, reporting and regulatory compliance as it relates to the bank financials.

Essential Duties / Responsibilities :

Bank Operations

  • Daily monitoring of Fed Funds & Fed Reserve balances and daily cash limits at all branches
  • Daily General Ledger (GL) recon
  • Daily Balancing / Monitoring GL to Applications
  • Daily Review of Statement of Condition
  • Daily Monitoring of Interest Accrual & Interest Paid
  • Daily Tracking of Specific GL accts – Charge-offs, Recoveries, Fee Accts, Other Real Estate Owned (OREO), Profit & Loss Accts
  • Daily Balancing Accrued Expense / Expenses
  • Daily Review of various reports for loans, deposits, county funds, etc.
  • Back-up to COO for Daily Balancing of correspondent bank accounts
  • Weekly Review and Sign Expense Checks
  • Monthly Balancing Federal Home Loan Bank (FHLB)
  • Backup for Fixed Assets and Prepaid Expenses Procedures

Investment Operations

  • Daily Operational Postings to GL, Monthly Income, and Monthly Mark-to-Market postings
  • Analyze, Track & Monitor bank funds and rates for investment decision-making
  • Monthly Balancing Investment Portfolio to GL
  • Postings and tracking for purchases, sales, maturities and calls
  • Analysis of Municipal purchases
  • Posting, Tracking, and Paperwork for new pledges or pledge changes
  • Handles verification requests from public entities
  • Asset Liability Committee (ALCO) meeting notes, Annually Review & Update ALCO Policy

    • Prepare financial documents such as business reports and financial calculations

  • Monthly Board of Director (BOD) reports –established list
  • Monthly Interest reports
  • Quarterly Allowance for Credit Losses (ACL) & Current Expected Credit Losses (CECL) Calculation and Reporting Package
  • Other Quarterly Reports and Calculations-established list
  • Quarterly FHLB Submissions
  • Annual Policy Exception Tracking to BOD
  • Develop / Create Cognos Reports as needed

    • Audit in Financial Area

  • Call Report Preparation & Submission quarterly
  • FHLB MVC Audit
  • Supplies pertinent information for Regulatory Examinations
  • Supplies pertinent information for Compliance Audits

    • Tax Preparation

  • Oversees Fixed Assets, Annual Review & Update Fixed Asset Policy
  • Oversees Bank Expenses
  • Assist in determining compliant GL transactions using legal and regulatory guidance
  • Year End Submission- ACL info, OREO, Repo Assets, Investments

    • Budget Preparation

  • Supervises Fiscal Financial Budgeting
  • Monthly Budget Tracking information
  • Annual budget preparation and continuing process
  • Monitor expenses and offer recommendations to cut costs
  • Monitor Income streams and offer recommendations to add new or increased revenue
  • Budget Analysis to include a back test of our scenarios

    • Knowledge / Skill / Ability Requirements :

  • College degree or equivalent Experience (5-7 years working in audit or finance)
  • Strong aptitude for problem solving
  • Strong analytical skills
  • Ability to interpret regulations and laws relating to Financials
  • Ability to multi-task and organize priorities
  • Level of computer literacy with knowledge of Word, Excel, and other applications
  • Strong written and verbal communication skills
  • Maintain confidentiality
  • Maintain a high level of focus and accuracy
  • Proven teamwork skills
  • Ability to work well on your own without management guidance
  • Ability to develop and interpret reports and inform management
  • Maintain a focused, helpful, friendly and polite attitude
  • Present a conservative, neat and professional appearance in dress and action
  • Follow the First National Bank of Milaca Code of Ethics and other related policies and regulations and ethical standards at all times

    • If your compensation planning software is too rigid to deploy winning incentive strategies, it’s time to find an adaptable solution. Compensation Planning
    Enhance your organization's compensation strategy with salary data sets that HR and team managers can use to pay your staff right. Surveys & Data Sets

    What is the career path for a Chief Financial Officer?

    Sign up to receive alerts about other jobs on the Chief Financial Officer career path by checking the boxes next to the positions that interest you.
    Income Estimation: 
    $173,200 - $238,103
    Income Estimation: 
    $183,855 - $273,017
    Income Estimation: 
    $74,109 - $90,005
    Income Estimation: 
    $93,957 - $114,874
    Income Estimation: 
    $110,891 - $149,476
    Income Estimation: 
    $131,172 - $174,437
    Employees: Get a Salary Increase
    View Core, Job Family, and Industry Job Skills and Competency Data for more than 15,000 Job Titles Skills Library

    Not the job you're looking for? Here are some other Chief Financial Officer jobs in the Milaca, MN area that may be a better fit.

    Chief Financial Officer

    Mille Lacs Health System, Onamia, MN

    Credit Officer

    Magnifi Financial, Sartell, MN

    View More Jobs

    AI Assistant is available now!

    Feel free to start your new journey!