Chief Operating Officer

ABOUT BENEFICIAL STATE BANK

Beneficial State was founded on a hunch that something is terribly wrong in the financial services industry and the outcomes it produces.  We were created to prove that banking could be materially better. More sustainable.  More inclusive.  More transformational.  More accountable.  While some banks have philanthropic arms, we have a philanthropic heart.  Our mission: to help more people and help people more, in harmony with nature.  We do not lend ANY money to special interests that are “contra mission,” such as fossil fuels, private prisons, weapons manufacturing, or predatory/discriminatory practices.

Beneficial State Bank (Beneficial State) is a state-chartered, federally insured bank with Branches and virtual banking in California, Oregon, and Washington.  As of the end of 2021, we had over $762MM in mission aligned lending, representing over 75% of our lending portfolio.  Since opening our doors in 2007, we have financed over 10,000 affordable housing units, helping to address the housing crisis that plagues our Pacific Coast cities; over $270MM in loans to nonprofits which support so many of our communities; $165MM in fair auto loans and refinances (including electric vehicles); and $144 MM in renewable energy loans to reverse climate change.  We are now over $1.5B in assets with capital to grow threefold within the next five years.

The bank’s unique ownership structure supports our impact commitments.    We are owned by not-for-profit entities that are governed in the public interest. We graded our portfolio using the Global Alliance for Banking on Values methodology and 84% of our loan portfolio was considered “triple bottom line” – serving people, planet, and prosperity.  We once again received a CRA rating of “Outstanding,” demonstrating our commitment to meeting the needs of our communities.  In 2021 BSB also completed its second JUST disclosure to assess and report on our commitment to being a socially just and equitable organization.  We are a founding signatory of the UN’s Principles for Responsible Banking, a member of the Global Alliance for Banking on Values, and as a CDFI, we have committed to investing in low-income communities. As a B-Corp, we are committed to social equity, environmental sustainability, and economic prosperity for our communities, and have been recognized by B Corp as “Best for the World” status every year since 2012.  Together, we are part of the solution.  Learn more about our impact on our Foundation’s impact site.  

POSITION OVERVIEW

Beneficial State Bank is embarking on a transformational journey.  This exciting period of growth brings with it a need for strategic vision and operational acumen.  The Chief Operating Officer (COO) role was developed to help us not only effectively scale, integrate and innovate our operations, but to help us deliver a remarkable experience to all of our customers – each and every day. 

The COO is a member of the Bank’s executive leadership team, reports directly to the bank’s CEO, and holds a key role within the organization.  The COO will lead the deployment and integration of centralized services across the enterprise, overseeing the day-to-day operations of Beneficial State Bank, managing operational risk, and driving operational efficiency and effectiveness.  Leads a variety of key operational functions including, but not limited to, Technology, Deposit/Central Operations, Customer Care Centers, Channel & Delivery, Enterprise Project Management, Business Process Improvement and Facilities.  Working closely with the CEO, Bank leadership, Board and other stakeholders, the COO will help to develop and implement strategic plans, policies, and procedures to ensure continued organizational success and growth.  The COO plans and oversees the implementation of projects across functions that support the scaling and development of the Bank’s operations functions.
 

ESSENTIAL DUTIES

·       Serves as key advisor to CEO and Bank management on all aspects of operational strategy, providing overall direction and leadership in the management of BSB operations.

·       Sets the operating agenda for the operational support groups to support the success of client teams; designs and manages processes and cross-departmental/cross-functional coordination to deliver maximum mission impact, an exceptional client experience and operational effectiveness.

·       Provides leadership and oversight to the Bank’s operations teams, including but not limited to deposit operations, loan servicing, customer care center, retail branches, channel & delivery, technology, MIS, business process improvement, technology, and enterprise project management.

·       Acts as a change agent by identifying opportunities, translating vision into strategy, bringing stakeholders along in the process, and turning strategies into specific action plans in order to create a culture that is open to change.

·       Analyzes and advises Bank leadership on operational issues impacting the organization.  Develops and implements organizational changes to maximize operational consistency, efficiency, and effectiveness.

·       Leads efforts to design and implement a road map for operational success, and ensures it is followed and updated consistently.

·       Ensures that operational processes and procedures are well articulated, fully documented, easily accessible and consistently implemented.  Fosters a culture where processes and procedures are consistently maintained, reviewed, revised, and communicated to support operational effectiveness and scalability.

·       Leads assigned teams in the continuous evaluation of processes and systems to identify opportunities for improvements to operational structure, policies and procedures, and workflows to increase automation and efficiency.

·       Oversees operational processes and procedures making certain adequate systems and internal controls are in place to appropriately mitigate risks in an ever changing corporate and regulatory compliance environment.

·       Directs the development and implementation of performance dashboards for the Bank’s business lines and enterprise.

·       Leads, develops, and motivates operations teams by managing key objectives and the performance of team members through agreed upon KPIs and scorecards. 

·       Participates in discussions as part of the executive management team and makes recommendations regarding a variety of policy decisions related to the Bank’s operations.

·       Works closely with the Chief Technology Officer to establish a clearly defined technology roadmap that includes the identification of resources and key milestones.

·       Spearheads efforts to unify the Bank’s digital platforms across groups and client segments.

·       Collaborates with functional leaders to ensure appropriate teams are staffed appropriately to support growth, with a focus on identifying, developing, and retaining talent to not only ensure critical roles are filled, but to support a comprehensive succession strategy.

·       Monitors industry trends and identifying opportunities to increase the Bank’s operational effectiveness and competitive position within our markets.

·       Fosters a culture of innovation and continuous improvement, encouraging teams to think creatively and pursue new ideas and ways of doing business.

·       Establishes and maintains strong relationships with key external stakeholders, such as regulators, auditors, vendors, and customers.

·       Represents the Bank and its mission in a variety of public forums, such as industry conferences, media interviews, and community events.

·       Performs other duties as assigned.

SUPERVISORY RESPONSIBILITY

MINIMUM QUALIFICATIONS

·       Values-driven leader that is bold and kind, with a demonstrated commitment to operational excellence.

·       Bachelor’s degree in business administration, finance, or a related field; a master’s degree is preferred.

·       Ten (10) years of relevant experience in banking operations with at least five (5) years in a senior strategic leadership role.

·       Expert knowledge of banking regulations and compliance requirements, with deep understanding of industry best practices.

·       Demonstrated experience leading change utilizing Six Sigma, Lean or Agile management approaches (or any combination thereof) strongly preferred.

·       Proven track record of successfully developing and implementing operational strategies that drive business results.

·       Demonstrated experience as an effective strategist and cross-functional collaborator.

·       Excellent organizational and analytical skills, with the ability to use data to create business cases.

·       Strong project management skills with the ability to manage multiple priorities simultaneously and meet established deadlines.

·       Excellent verbal and written communication skills.  Strong presentation skills.

·       Excellent interpersonal skills, with the ability to work effectively with a diverse range of individuals, teams, leaders, and external stakeholders to establish and achieve common goals.

·       Highly organized, with a research mindset and a focus on results.

·       Ability to focus on details without losing sight of the big picture.

·       Advanced proficiency in PowerPoint and Excel.

·       Demonstrated track record of tenacity when faced with ambiguity, changing priorities, or challenges.

What is the benefit package for this role? Beneficial State Bank’s benefits include a comprehensive package designed to support you and your eligible dependents. We focus on the holistic health of our team members and promote work-life balance.

Our benefit package includes:

• Medical / Dental / Vision / Basic Life / STD / LTD
• Vacation Days: 2-4 weeks depending on role
• Sick Days: 12 days per year
• Holidays: 11 days per year
• 401(K) / ROTH / FSA / HSA / EAP
• Education and Adoption Assistance
• Bank-Wide Annual Discretionary Bonus Program
• Production-based incentive program available for some roles.
• Paid Volunteer Time: 4 days per year / annual match of qualifying employee donations
• Paid Sabbatical Program after 5 years of service
• Pet Benefits

For detailed information about our benefits, please visit http://www.beneficialstatebank.com/about-us/careers

You are welcome here at Beneficial State Bank. We are an equal opportunity employer and all qualified applicants will receive consideration for employment regardless of race, color, religion, sex, sexual orientation, national origin, gender identity, disability or veteran status.