Chief Operating Officer

Job Description

Job Description

About Minnwest: Minnwest is a family owned, community bank based in Minnesota and South Dakota. We believe our success is measured by the extent in which we have a positive impact on the communities we serve. We are committed to building strong, vibrant communities through our core values:

• The customer is the first priority.
• We will keep all of the commitments we make.
• We are the people who get things done.
• We will work together as a team.

Location(s) Availability: Eagan, Minnetonka, or Sioux Falls

Job Summary: Lead the planning and development of the organization's operational policies and related execution under the direction and guidance of the CEO. Develop recommendations and oversee the execution of operational plans aligned to mission critical short and long-term goals. Direct the organization's functional capacity to produce sustainable growth and minimize risk, drive operational excellence and ensure the bank delivers consistent, high-quality experiences to customers. In collaboration with executive management, define operating goals and develop budgets to support business objectives and direction.

Duties and Responsibilities (including but not limited to):

• Provide leadership and direction for studying and optimizing organizational business processes focused on improving operational efficiencies, quality, service, and profitability.
• Partner with executive leadership to translate strategic vision into operational goals and measurable outcomes
• Execute and manage multiple highly complex initiatives to optimize business operations in alignment with organizational objectives.
• Drive the in-depth analysis of existing workflows, identifying areas needing improvement, and execution of identified priorities. Engage cross-functional groups for input and execution as appropriate.
• Oversee and plan organizational resource deployment with the knowledge and capacity to evaluate alternative software and hardware configurations for applicability, efficiency, and economic performance.
• Fully understand and accesses the risks embedded in areas for which responsible and communicates those assessments to auditors, regulators, senior management, and BOD.
• Direct the development of the organization's functional capacity that will produce sustainable growth and minimize risk.
• Establish processes and tools used to collect and measure relevant data, identify key performance indicators (KPI)s, and produce a data-driven analysis of business performance metrics and process improvements.
• Develop operating budgets. Establish effective operational policies and procedures under guidance from the CEO.
• Provide strategic oversight to change management initiatives and implementation of new business processes ensuring successful roll-out and readiness.
• Maintain a working knowledge of existing business processes to understand the impact of changes.
• COO will be a member of all senior-level bank governing committees: Funds Management, Risk Management, Planning, Technology Steering Committee, Product Team, Program Management and Bank Management.
• Performs other duties as assigned.

Minimum Requirements:

• Bachelor's degree in business, finance, operations, IT or related field
• 8 - 10 years related experience
• Banking experience
• Strong background in operations with progressive leadership experience
• Resource Planning
• Regulatory environment and risk management experience
• Demonstrated success leading organizational change management and operational improvement initiatives
• Operational planning and policy development expertise
• Ability to work with senior managers, supervisors, and coworkers
• Ability to lead collaboratively

Preferred Qualifications:

• Master's degree in business, finance, operations, IT or related field
• Working knowledge of payment systems, processing, and the associated controls
• Experience in a community bank or similar sized institution
• Familiarity with core banking systems and digital banking platforms
• Strong digital transformational experience
• Organizational goal planning and objective setting experience
• Ability to think holistically across departments and teams to find solutions to complex problems
• Demonstrated experience in continuous improvement and operational excellence
• Extensive knowledge of work process design and process improvement

Schedule: Monday – Friday: 8:00 a.m. – 5:00 p.m.

Workplace Environment:

• Requires face-to-face interaction and coordination of work with other employees and departments, and in-person interaction.
• Working at a computer and utilizing a telephone
• Occasionally lifting up to 50lbs

Salary Range: $190,000 - $300,000 annually, plus 15% bonus target

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. The salary range represents anticipated base pay for this role. The actual pay offered will consider internal equity and may vary based on factors including but not limited to work location, candidate’s job-related knowledge, skills, and experience, among other factors.

Minnwest Benefits: In addition to salary, Minnwest Bank offers a comprehensive benefits package, including incentive and recognition programs. Minnwest Bank is focused on taking care of our employees and their families, and supporting their health and financial well-being, including:

• Comprehensive Medical, Vision and Dental Insurance
• Retirement savings including 401(k) with Employer Match and Employee Stock Ownership Plan (ESOP)
• Paid Holidays and Competitive Paid Vacation Days
• Paid Parental Leave
• Short- and Long-Term Disability
• Life, Critical Illness, and Accidental Insurance
• Tuition Reimbursement and Career Development Opportunities
• Employee Assistance Program (EAP)
• Paid Time Off to volunteer in your community
• Opportunities to connect with others through our diversity and inclusion focused Employee Resource Group

All benefits are subject to eligibility requirements.

A full background check, including federal, state, county, and civil, and general financial credit check will be conducted on the final candidate for this position. Candidate must pass the background check and financial credit check in order to obtain employment with Minnwest. Failure to meet any of the requirements may result in a rescission of your offer of employment.

EEO: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.