What are the responsibilities and job description for the Vice President, Cash Management position at Lake Elmo Bank?
Lake Elmo Bank, an independent community bank, has an immediate opening for a Vice President, Cash Management. (On site only-Lake Elmo, MN)
The Vice President, Cash Management will be primarily responsible for the development, implementation, and ongoing operation of all digital products for both commercial and consumer clients of the bank. Additionally, this role provides leadership and management of the support functions tied to these digital products.
Employment Type:
Full -Time Salaried Exempt; (not eligible for overtime)
Education and Experience:
- Bachelor’s degree in accounting, finance, business administration or related field is preferred.
- 5 years of progressive experience in cash management, treasury services and/or commercial banking.
- Demonstrated leadership experience managing teams and cross-functional initiatives.
- Experience with Jack Henry highly preferred.
Knowledge, Skills and Abilities:
- Ability to multi-task, prioritize, meet deadlines, and work in a fast paced environment.
- An aptitude for technology and technical troubleshooting skills.
- Proficient with Microsoft Office including Outlook, Word and Excel.
- Excellent written, oral, and interpersonal skills.
- Enjoy working in a group environment and respects the opinions of others.
- Detail oriented with high level of accuracy.
- Demonstrate initiative and resourcefulness.
- Familiarity with general banking regulations.
- Strong analytical skills that can be used to solve and resolve complex financial decisions.
Major Area’s of Responsibility
- Development and management of Cash Management Services, including Cash Management Online Banking, ACH, Remote Deposit Capture, RemitPlus, SmartPay Express, lockbox services, fraud prevention products, and reciprocal deposit programs. Serve as senior escalation point for complex cash management relationships and implementations. Support commercial calling efforts through joint client meetings, account analysis, and pricing recommendations. Ensure consistent delivery of proactive and responsive customer service.
- Provide in-person training and support for ACH and Remote Deposit customers. Complete annual audits to ensure the business customer is following procedures outlined in the agreements and are in compliance with all regulatory requirements.
- Create, maintain, & enhance policy, process and procedures and conduct required risk assessments, audits and disclosures, to protect customer security and satisfy regulatory requirements.
- Oversee the online banking products for consumers and small business customers including: bank-to-bank transfers, bill payment, mobile deposit, e-Statements, real time payments, small business accounting and invoicing solutions, fraud detection, etc.
- Responsible for management of the Debit Card program, including Instant Issuance and in‑house card printing. Oversees card stock inventory for both internal issuance and vendor‑printed monthly expiring cards. Accountable for card product growth and financial performance. Analyzes fraud trends and implements controls to mitigate losses. Oversees the cardholder dispute process and provides employee training.
- Manage the Bank’s ATMs. Work closely with vendors, management and regulatory authorities regarding ATM’s. Make sure they are compliant, systems are updated, patches are being applied and cash loads are sufficient. Train staff for balancing and replenishing cash loads.
- Work with the Federal Reserve Bank with ACH and Fedline Advantage services.
- Oversee Bank credit card issuance program and merchant processing program. Provide employee training and ongoing support to customers.
- Assist in the support of Bank software products, and manage strategic alliances with various bank vendors.
- Work with Marketing in the planning of ads and content on related products for the webpage.
- Assist in analyzing, developing, and implementing new products, and alternative delivery channels.
- Participates as a member of the bank’s Management Team, a leader in the operations department, and collaborates with all areas of the bank as needed.
- Responsible for supervision and development of the Digital Banking Specialist(s), that includes fostering a cohesive team, annual reviews and suggesting salary adjustments.
Benefits Information: Medical, Dental, Vision; Bank paid Life Insurance, Long Term Disability; Holiday, Floating Holiday time, vacation and sick time; 401(k); Employee Stock Ownership Plan. The annual salary for this position is $90,300-$150,000 depending on experience and qualifications.
Lake Elmo Bank is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodation is available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact the human resources department.
About Our Organization:
Lake Elmo Bank was chartered on August 1, 1911 and has built its tradition on a personal approach to banking. We get to know our customers so that we understand each customer's unique needs with the intent of building long-term financial relationships. This goal has been the foundation of our business for over 100 years.
Today, with assets over 500 million dollars, Lake Elmo Bank is among the larger community banks in the State of Minnesota. Because of its unique history and the bank's commitment to community service, Lake Elmo Bank has successfully served the residents and businesses of the east metro area with a continued commitment to its tradition of service. Lake Elmo Bank has been voted "Best Bank" for more than 10 years by the Stillwater Gazette Readers' Choice Awards
Salary : $90,300 - $150,000