Chief Financial Officer

Foresight Financial Group Inc.(FFG), in Northern Illinois, is a community multi-bank financial holding company of approximately $1.5b in assets and is seeking an experienced leader for the position of Chief Financial Officer. 

‘Community Building through Community Banking’ is why our company exists.  The holding company CFO serves on the Executive Team and works closely with the President/CEO, subsidiary bank President/CEO’s and bank teams to establish and support the strategic direction and operations of the company.  This critical position provides leadership and guidance throughout the company that is fostered by strong relationships and outstanding communication skills.  

The CFO oversees the Controller and Accounting/Finance team that provides shared services to our subsidiary banks and seek to magnify  our collective strengths  to satisfy customers, empower employees and enhance value for the communities and shareholders we serve.  Our culture is driven by our collective shared values which focus on strong personalized relationships, unparalleled service and the pursuit of excellence in all areas of internal and external client engagements.

The ideal candidate has a minimum fifteen years in a leadership role in banking and has knowledge of all aspects of a community bank.  The candidate must have demonstrated success in a matrixed organization and have strength in balancing the autonomy of independent entities while ensuring a unified strategic direction that maximizes efficiency and effectiveness.  Must have a depth of experience in finance, accounting, investments, banking regulations, income tax law, budgeting, project management and strategy.  Experience with mergers and acquisitions strongly preferred.  Must be an outstanding communicator and ability to build trust through honing relationships internally and externally.

Candidates from outside the northern Illinois Communities will be required to relocate within reasonable distance.

Organization Overview:

Foresight Financial Group, Inc., an Illinois corporation founded in 1986, is a bank holding company established under the Federal Reserve with fifteen offices in the Northern Illinois counties of Winnebago, Stephenson and Kankakee. Holdings of the Foresight Financial Group, Inc. include German American State Bank located in German Valley, Pecatonica, Belvidere and Winnebago; State Bank of Davis located in Davis; State Bank located in Freeport and Bradley; Lena State Bank located in Lena; Northwest Bank located in Rockford, Loves Park and Machesney Park; and State Bank of Herscher located in Herscher and Kankakee.

Position Summary:  

The CFO is responsible for providing strategic and operational leadership and oversight direction of the fiscal functions of the corporation in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board, the Securities and Exchange Commission, and other regulatory and advisory organizations and in accordance with financial management techniques and practices appropriate within the industry. Serves as a member of the corporate executive management team and company leadership team, providing guidance to the organization in achieving short and long term strategic objectives.  Provides oversight to the Accounting and Finance team to ensure service delivery per the Service Level Agreement.

Primary Responsibilities:

1. Collaborate with peers at corporate and subsidiary banks to provide leadership to the organization in achieving strategic objectives.
2. Serve as senior advisor and counsel on all financial aspects of the company, building and maintaining trusted relationships with bank Presidents, executive teams and other key leaders at the holding company and subsidiary banks.
3. Direct the preparation of regulatory filings and reporting for the holding company and subsidiary banks.
4. Coordinate with subsidiary banks, regulatory agencies, internal audit and external audit firms, managing request lists and responses.
5. Ensure compliance with public listing platform requirements.
6. Collaborate with the CEO and leadership team  in the development of corporate strategy and ensure functional alignment.
7. Conceptualize and coordinate financial future and develop accurate financial models and forecasts to represent the impact of various alternatives on financial situation.
8. Maintain ownership of the periodic financial position and an intimate knowledge of the general ledger, keeping the Board and leadership team informed.
9. Ongoing Appraisal of the organization’s financial position and issue periodic reports on the company’s financial stability, liquidity, and growth including the preparation and issuance of the corporation’s annual report in conjunction with the FFG Executive Management team.
10. Analyze tax consequences of various business scenarios, develop effective tax strategies, and direct tax reporting programs.
11. Partner with the Director of Human Resources to provide accounting and financial support relative to benefits.
12. Direct and oversee budgeting, tax, accounting, negotiating vendor contracts, long range forecasting and insurance activities for the holding company and subsidiary banks.  Direct other financial activities such as custodian of funds, securities and asset management.
13. Oversee the financial processes, procedures and finance-related technology necessary to improve efficiency, maintain proper records and to support robust internal controls.
14. Analyze operational opportunities and issues impacting functional groups, including the holding company and subsidiaries, and determines their financial impact.
15. Analyze general economic, business, and financial conditions and their impact on the holding company and subsidiaries’ policies, operations and profitability.
16. Participate in due diligence, acquisition, and integration activities.
17. Establish satisfactory performance ratios in relation to the Corporate Standards, industry and economic trends.
18. Establish and maintain relationships with shareholders, the investment community, and industry influencers.
19. Evaluate and recommend business partnering opportunities.
20. Manage investment portfolio of the organization, Chair the corporate level investment committee and serve as a member of the subsidiary bank ALCO committees.
21. Responsible for oversight of the corporate finance/accounting department, providing direct support and mentoring to VP Controller to achieve department and individual goals and develop professionally.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Competencies:

Finance: Extensive expertise of banking theory, techniques, practices and procedures; advanced knowledge of finance service operations, economics and financial reporting.

Accounting: Advanced comprehension of Generally Accepted Accounting Principles.  Deep capacity for assessing and interpreting numerical data, and describing effectively in narrative format.

Leadership: Advanced knowledge and skills in leading an organization with a strategic vision and achieving such through empowerment, collaboration, communication, team building and mentoring.

Communicator:  Superior interpersonal and project management skills, oral and written communication and ability to anticipate and guide the impact of effective internal and external communication strategies on the organization.

Project Management:  Ability to work on multiple projects simultaneously, managing time and resources to ensure work is completed efficiently and within established timeframes.

Planning: Can establish a systematic course of action for self in order to accomplish objectives in an organized manner; determines priorities and allocates resources effectively.  Navigates the organization to accomplish objectives effectively.

Analytical Thinking:  Strong complex analytical skills including the ability to address situations by using a logical, systematic, sequential approach.

Professionalism: Consistent demonstration of behaviors, appearance, and communication with full knowledge and consideration of the effect on internal and external stakeholders.

Integrity: Instills mutual trust and confidence, fosters a culture of compliance and high ethics and confidentiality, advanced demonstration of corporate responsibility and fair treatment of others.

Technical:  Advanced knowledge of banking regulations and income tax law including but not limited to state and federal regulations and statutes and the relative external and internal governance thereof.     Fluency in Microsoft 365 and Office (Word, Excel and PowerPoint).  Sophisticated knowledge of Jack Henry and ancillary systems, banking products, services, policies, and procedures.

Performance Standards:

ROE per annual target

Efficiency Ratio per annual target

Capital Growth per annual target

Satisfactory or above results on the annual SLA survey

Performance Weightings:

50% Competencies

50% Position Performance Standards and Personal Goals

Qualifications:

Bachelor degree in accounting, finance or related field required; CPA and Master degree preferred.  Minimum fifteen years of relevant experience with at least ten years in the financial industry or the equivalent combination of education and experience.  Significant experience successfully serving in a senior management/executive level position of a complex, matrixed organization.  Previous experience in managing direct reports and mergers and acquisitions preferred.