Director BaaS at Midland States Bank
Rockford, IL 61101
About the Job
Salary Range: $147,000-$200,000 annuallyAt Midland States Bank, base salary is one component of our Total Rewards program.
Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience.
This position offers additional compensation in the form of short-term incentives (i.e.
bonus and/or commission) and may include long-term incentives (i.e.
stock awards).
Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off.
Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan.
Incentives and benefits are subject to eligibility requirements.Position SummaryReporting to the Chief Digital Officer (CDO), the Director of Banking as a Service (BaaS) will provide strategic leadership working alongside Executive Management to create and execute on the BaaS technologies, partnerships, vision and product roadmap.
This leadership role will serve as the senior operating manager for the BaaS Operating team and Committee.
They will lead a delivery and oversight team to innovate and build new methodologies, relationships and products to continuously iterate and expand upon the experience in our digitally focused channels.
They will be charged with working directly with the Chief Information Officer (CIO), CDO and BaaS Committee to foster and monitor the development of new and ongoing relationships and technologies with industry leading BaaS aggregators and Fintechs.In this highly visible role, you will act as a liaison between the Bank’s business units, Fintechs, and BaaS Operating Committees.
You’ll manage the portfolio of systems and applications used by our BaaS partners and ensure our partners and internal teams are using them effectively and refining them over time.
The Director will meet these objectives through project management and planning, research, data analysis, report development, system parameter setting and functional requirements documentation.Primary AccountabilitiesPeopleManages a team of professionals in a customer-centric culture to excel in a fast-paced environment.Coaches, develops, and conducts performance management activities with direct and indirect reports.Identifies high-potential employees for advanced training and development opportunities.Effectively manages poor performers.Provides leadership and promotes Midland States Bank Core Vision and Values.Grows and develops talent to build, maintain and effectively lead a diverse, high performing team to meet current and future business needs.Strategic Partnership Development and Due DiligenceWorks alongside the CIO and CDO & Key Business Partners in attracting and developing relationships with industry leading Fintechs.Responsible for coordinating Fintech due diligence and onboarding.Assists vendor and Fintech managers with the conduct of initial and ongoing due diligence and vendor or Fintech risk assessment tasks.Oversees and performs evaluation of third-party and Fintech engagements and ongoing reviews to identify and manage vendor risk which may include completion of inherent and overall risk assessments. Responsible for ongoing systems management associated with all BaaS platforms.Responsible for exception reporting and monitoring of Fintechs usage of platforms to be aligned with bank and contractual covenants. Coordinates sessions and content for the BaaS operating committee and Board.Maintains a well-defined direct and indirect Fintech pipeline.Responsible for ensuring that products and solutions delivered by Fintech meet the needs and requirements contractually established.Responsible for clearly understanding the BaaS vision and assisting in defining future vision.Coordinates with the CDO and the BaaS Operating Committee the production of Executive and Board level Risk, Compliance, Exception and Key Performance Indication Reporting.Systems Management and Process ImprovementResponsible for coordinating the needs, tasks, vision, and requirements with the BaaS Operating Committee members.Ensures Fintech delivery teams and BaaS Operating Committee have appropriate expectations on deliverables and timelines.Works with senior management to define success and use these definitions to translate to Fintech requirements and pipeline needs.Responsible for building a 18+ month roadmap that translates the BaaS Operating Committee vision and goals.Project ManagementConducts necessary research to understand Fintechs in the pipeline.Manages large projects through formal project management techniques.Leads and facilitates meetings to perform assigned tasks (e.g.
requirements gathering).Proactively keeps stakeholders, dependencies, and managers updated on progress and any risks/roadblocks.Assists with new systems research and evaluations.Ability to map bank and Fintech business processes.Assists with workflow design and process improvement.Stays abreast of legal, regulatory, market, industry, and environmental changes impacting Midland States Bank’s third-party risk landscape.OtherAssists with writing and coordinating Requests for Proposals.Assists Risk Management to identify and report residual exposure.The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.May require work in a Midland office to ensure collaboration and support of internal and external customers. Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).Other duties as assigned. Position QualificationsEducation/Experience:Master’s degree in Computer Science, Marketing, Finance, or related field. 10+ years of experience in IT, Digital or Fintech Solutions Development with a strong technical background.
Minimum of 5 years of experience leading teams with demonstrated success coaching and motivating team members.
Extensive project management methodology background, including cost, schedule, scope, issue, risk, and change management experience. Demonstrated experience in helping translate functional ask to technical work.
Demonstrated experience and understanding of prioritization of work.
Adaptable, juggling multiple and sometimes changing priorities.
Ability to explain different software development lifecycle strategies and when to use them.
Possess a solid understanding of Agile, Lean and Scrum principles.
Has led meetings of 15+ with experience demonstrating technical features or functions.
Ability to think creatively and recognize and encourage creativity in others.
Self-motivated with the aptitude to work independently with minimal supervision.
Capable of communicating appropriate level of process and technical detail across different organizations and hierarchies.Excellent oral, written, and interpersonal communication skills with the ability to instruct others, interpret documents, and write reports and correspondence. Excellent organizational and time management skills. Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.Competencies: Business insightCultivates innovationDrives resultsMakes sound decisionsBeing a brand championCollaboratesCommunicates effectivelyCustomer focusBeing AuthenticEmotional IntelligenceSelf developmentBeing flexible and adaptableAt Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company.
We’re proud to be an Equal Opportunity and Affirmative Action employer.
At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at
Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience.
This position offers additional compensation in the form of short-term incentives (i.e.
bonus and/or commission) and may include long-term incentives (i.e.
stock awards).
Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off.
Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan.
Incentives and benefits are subject to eligibility requirements.Position SummaryReporting to the Chief Digital Officer (CDO), the Director of Banking as a Service (BaaS) will provide strategic leadership working alongside Executive Management to create and execute on the BaaS technologies, partnerships, vision and product roadmap.
This leadership role will serve as the senior operating manager for the BaaS Operating team and Committee.
They will lead a delivery and oversight team to innovate and build new methodologies, relationships and products to continuously iterate and expand upon the experience in our digitally focused channels.
They will be charged with working directly with the Chief Information Officer (CIO), CDO and BaaS Committee to foster and monitor the development of new and ongoing relationships and technologies with industry leading BaaS aggregators and Fintechs.In this highly visible role, you will act as a liaison between the Bank’s business units, Fintechs, and BaaS Operating Committees.
You’ll manage the portfolio of systems and applications used by our BaaS partners and ensure our partners and internal teams are using them effectively and refining them over time.
The Director will meet these objectives through project management and planning, research, data analysis, report development, system parameter setting and functional requirements documentation.Primary AccountabilitiesPeopleManages a team of professionals in a customer-centric culture to excel in a fast-paced environment.Coaches, develops, and conducts performance management activities with direct and indirect reports.Identifies high-potential employees for advanced training and development opportunities.Effectively manages poor performers.Provides leadership and promotes Midland States Bank Core Vision and Values.Grows and develops talent to build, maintain and effectively lead a diverse, high performing team to meet current and future business needs.Strategic Partnership Development and Due DiligenceWorks alongside the CIO and CDO & Key Business Partners in attracting and developing relationships with industry leading Fintechs.Responsible for coordinating Fintech due diligence and onboarding.Assists vendor and Fintech managers with the conduct of initial and ongoing due diligence and vendor or Fintech risk assessment tasks.Oversees and performs evaluation of third-party and Fintech engagements and ongoing reviews to identify and manage vendor risk which may include completion of inherent and overall risk assessments. Responsible for ongoing systems management associated with all BaaS platforms.Responsible for exception reporting and monitoring of Fintechs usage of platforms to be aligned with bank and contractual covenants. Coordinates sessions and content for the BaaS operating committee and Board.Maintains a well-defined direct and indirect Fintech pipeline.Responsible for ensuring that products and solutions delivered by Fintech meet the needs and requirements contractually established.Responsible for clearly understanding the BaaS vision and assisting in defining future vision.Coordinates with the CDO and the BaaS Operating Committee the production of Executive and Board level Risk, Compliance, Exception and Key Performance Indication Reporting.Systems Management and Process ImprovementResponsible for coordinating the needs, tasks, vision, and requirements with the BaaS Operating Committee members.Ensures Fintech delivery teams and BaaS Operating Committee have appropriate expectations on deliverables and timelines.Works with senior management to define success and use these definitions to translate to Fintech requirements and pipeline needs.Responsible for building a 18+ month roadmap that translates the BaaS Operating Committee vision and goals.Project ManagementConducts necessary research to understand Fintechs in the pipeline.Manages large projects through formal project management techniques.Leads and facilitates meetings to perform assigned tasks (e.g.
requirements gathering).Proactively keeps stakeholders, dependencies, and managers updated on progress and any risks/roadblocks.Assists with new systems research and evaluations.Ability to map bank and Fintech business processes.Assists with workflow design and process improvement.Stays abreast of legal, regulatory, market, industry, and environmental changes impacting Midland States Bank’s third-party risk landscape.OtherAssists with writing and coordinating Requests for Proposals.Assists Risk Management to identify and report residual exposure.The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.May require work in a Midland office to ensure collaboration and support of internal and external customers. Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).Other duties as assigned. Position QualificationsEducation/Experience:Master’s degree in Computer Science, Marketing, Finance, or related field. 10+ years of experience in IT, Digital or Fintech Solutions Development with a strong technical background.
Minimum of 5 years of experience leading teams with demonstrated success coaching and motivating team members.
Extensive project management methodology background, including cost, schedule, scope, issue, risk, and change management experience. Demonstrated experience in helping translate functional ask to technical work.
Demonstrated experience and understanding of prioritization of work.
Adaptable, juggling multiple and sometimes changing priorities.
Ability to explain different software development lifecycle strategies and when to use them.
Possess a solid understanding of Agile, Lean and Scrum principles.
Has led meetings of 15+ with experience demonstrating technical features or functions.
Ability to think creatively and recognize and encourage creativity in others.
Self-motivated with the aptitude to work independently with minimal supervision.
Capable of communicating appropriate level of process and technical detail across different organizations and hierarchies.Excellent oral, written, and interpersonal communication skills with the ability to instruct others, interpret documents, and write reports and correspondence. Excellent organizational and time management skills. Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.Competencies: Business insightCultivates innovationDrives resultsMakes sound decisionsBeing a brand championCollaboratesCommunicates effectivelyCustomer focusBeing AuthenticEmotional IntelligenceSelf developmentBeing flexible and adaptableAt Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company.
We’re proud to be an Equal Opportunity and Affirmative Action employer.
At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at
HR@midlandsb.com.THIS
JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT