Position Purpose:
- The Chief Revenue Officer, alongside the Chief Financial Officer – First Carolina Financial Services, Inc. (FCFS) & Chief Risk Officer – FCFS and First Carolina Bank (FCB), will be responsible (as this is a new position in FCFS/FCB) for developing and implementing the financial reporting and budgeting/forecasting framework for FCFS, FCB and its subsidiary, BM Technologies, Inc. (BM Tech). In addition, the incumbent will make the Bank more profitable and efficient by interpreting data to create information transparency for our business unit leaders to provide clarity on actions to be taken.
Primary Responsibilities:
- Validate and improve upon current pricing methodologies and introduce new revenue and monetization strategies across all current and proposed products and services in FCB and BM Tech. The Chief Revenue Officer will participate in the digital strategies of the Bank including developing the framework for risk/reward decisions. The incumbent will develop effective measurements to improve performance accountability throughout the Bank. The position will make heavy use of data to quantify prospective risk, return, opportunity, and customer segmentation to provide optimal financial outcomes.
- Play a leadership role in a possible initial public offering process (IPO) for FCFS/FCB.
- Build new financial reporting and budgeting/forecasting framework in keeping with the new complexity and size of FCFS/FCB.
- Conduct market analysis, competitive assessment, and industry benchmarking to identify trends and opportunities for growth/efficiencies in BM Tech.
- Complete full pricing review of BM Tech products and services and assessment of fraud practices and performance.
- Partner with senior leaders across FCB and BM Tech to ensure full working knowledge of pricing and product profitability/contribution.
- Facilitate cross-functional collaboration to drive alignment and integrate strategic financial priorities across departments.
- Identify and implement potential cost-saving opportunities and enhance operational efficiency.
- Enhance the Bank's efficiency ratio.
- Monitor industry trends and regulatory changes to ensure the Bank remains responsive and competitive.
- Drive executive collaboration to craft a cohesive corporate, line of business and supporting functional strategic plan to guide enterprise growth.
- Work in partnership with the Bank’s Chief Information Officer and Chairman – BM Technologies as well as the Chief Digital Officer to integrate the two companies’ core, products, and future strategies.
- Oversee the development and monitoring of financial performance indicators to track the success of all Bank products and business line strategic initiatives.
- Monitor industry and market trends to develop and maintain Pricing Model for deposit rates, loan rates, capital, and fees.
- Special projects and other tasks as assigned.
Authority, Impact, Risk:
- Liaison with internal, external, and Regulatory audit functions
- Board reporting and presentations; member of ALCO.
Key Relationships:
- Chief Information Officer & Chairman – BM Tech, Chief Risk Officer / CFO FCFS, President & Chief Executive Officer, Chief Banking Officer, President – Real Estate Banking, President – BM Tech & Chief Digital Officer, Chief Operating Officer
- CFO FCB, Chief Accounting Officer & CFO BM Tech, and Chief Compliance Officer
- Digital Banking/Business Line, Risk Oversight and Audit Committees of the Board
- Key Strategic Partners and Customers
Managerial Accountability:
Working Conditions:
- Ability to read and interpret complex documents and to respond effectively to sensitive inquires or complaints
- Working knowledge of conventional audit practices and structures
- Work under tight deadlines
- Regular communication both written and verbal, across all job functions and with the Bank’s Board of Directors
- Timely and accurate analysis completion
- Confidence in presentations and recommendations as well as discretion with sensitive Bank information
Time Allocation:
- Financial Framework and Data Research……………….....................................…….50%
- Pricing/Revenue Strategies…………………………………….......……..40%
- IPO Process…………………………………………….10%
Job Specifications:
Position adheres to confidentiality policy, code of ethics and knowledge of Bank Secrecy Act and best practices and other pertinent Regulatory laws and regulations.
Required:
- Bachelor’s degree in finance, accounting, or similar discipline
- 20+ years of progressive financial experience as well as exposure to all facets of lending, deposit gathering, payments, fraud management and consumer relationship development strategies
- Strong analytical and problem-solving skills with the ability to synthesize complex information.
- Knowledge of regulatory frameworks and compliance issues affecting the banking industry.
- Strong familiarity with best practices
- Excellent verbal and written communication skills
- Excellent quantitative, analytical, and financial skills
- Advanced experience with Microsoft Excel, Word, and PowerPoint
Preferred:
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Experience with digital transformation strategies and innovative banking solutions is a plus
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Proven track record of leading successful strategic initiatives and driving organizational change.
Risk Management Requirements:
Understands and adheres to Workplace Policies, Code of Conduct, privacy, and information security guidelines. Understands and adheres to Anti-Money Laundering, Bank Secrecy Act, and Compliance with the USA PATRIOT Act policies and procedures applicable to position, completing any supporting requirements within defined timeframes. Acts within authorized limits and delegated authorities and role applicable policies and procedures. Follows processes and controls to protect shareholder interests. Mitigates risk to the bank and customers by following all applicable security procedures.
Equal Opportunity Employer including Veterans/Disabilities
