Practice Finance/Private Banking Officer

Deerwood Bank is seeking a dedicated and professional Practice Finance/Private Banking Officer to join our Waite Park, MN or Sartell, MN location. This position is responsible for identifying and developing new client relationships while maintaining existing relationships with high-net-worth clients, independently developing referral business through intermediaries (consultants, attorneys, accountants, brokers, and realtors), analyzing client financial statements and product needs, and implementing appropriate sales strategies to achieve production goals. Provide advice on a variety of financial matters, promoting business and consumer banking products and services and ensuring client satisfaction. Our ideal candidate will have strong interpersonal skills, a deep understanding of financial products and services, and proven experience in a practice finance/private banking setting.

Major Responsibilities and Duties:

1. Develop, maintain, and grow relationships with Professional Practice (i.e., doctors, lawyers, accountants) clients to understand their financial needs and goals.
2. Analyze clients’ financial situations and credit tailored financial plans.
3. Monitor clients’ portfolios and make recommendations for adjustments as needed.
4. Retain and grow existing high-net-worth customers’ deposit and loan relationships.
5. Prospect new clients and centers of influence.
6. Utilize sales strategies and market analysis to achieve production goals.
7. Identify drivers of profitability and cashflow and be able to conduct an analysis from different financial statements.
8. Generate new deposit accounts and cross-sales of other ancillary products and services.
9. Collaborate with other team members to ensure all clients’ needs are satisfied.
10. Participate in various professional associations and community activities to enhance the Bank’s visibility and to further personal and professional development.
11. Maintain information security, including compliance with policies and standards which protect sensitive information.

Regulatory Compliance Requirements:

The incumbent will be responsible for meeting the requirements for all statutes/regulations pertaining to or governing the position/department, which includes conducting activities consistent with established Deerwood Bank policies, procedures and systems, the Bank Secrecy Act, and all applicable state and federal laws and regulations.

Core Competencies

• Business Acumen
• Business Development
• Client Relationship Management
• Relationship Building
• Financial Analysis
• Sales Strategy
• Credit Documentation Requirements

Required Qualifications:

• Experience working with Professional Practice clients in a trusted advisor role.
• 5+ years of financial services sales experience with strong working knowledge of credit and lending fundamentals
• Full knowledge of commercial and retail banking services and be able to refer clients to the appropriate areas.
• Excellent verbal and written communication skills
• Initiative-taking and result oriented.
• Strong people skills
• Candidate must have or be able to obtain an active NMLS license.
• Proficiency with Excel, Word, PowerPoint, Outlook, Teams, SharePoint.
• Ability to always present a professional and positive image to clients.
• Ability to be flexible with schedule and prioritize a variety of tasks.
• BS/BA in Business, Finance, or relevant field

Starting Pay Rate

• $90,000 - $120,000 per year, depending on qualifications.

Benefits are available to employees working 30 or more hours per week on the first of the month following date of hire.

• Medical insurance, including virtual telemedicine and mental health counseling
• Health Savings Account
• Flexible Spending Account (health, limited purpose health, and dependent care)
• Dental insurance
• Vision insurance
• Life insurance (basic and voluntary)
• Short-term disability insurance
• Long-term disability insurance
• Long-term care insurance
• Adoption Assistance Program
• Employee Assistance Program
• PTO
• Paid Volunteer Time Off
• Paid holidays
• 401(k) with company match (eligible on the first of the month following 2 months of employment)
• Financial wellness education
• Free or reduced fees for banking products and services
• Employee Referral Bonus