Understand Tech
Washington Trust Bank, Spokane, Wash.
$5.3 billion of assets
"You need to marry your business education with information management systems. The complexity of those systems is dramatically different from when I entered the industry. You don't have to be a computer scientist, but you have to be able to manage those types of systems."
Work on Communication
Pinnacle Financial Partners, Nashville, Tenn.
$8.7 billion of assets
"The CFO has to have a much deeper understanding of the bank's business model and be able to communicate the key metrics that make the franchise more valuable compared to other franchises."
Be Willing to Adapt
Morganton Savings Bank, Morganton, N.C.
$80 million of assets
"Adaptability to a constantly changing landscape with regards to compliance, banking regulation and accounting pronouncements is important. A well-rounded background in all areas of banking is a plus, along with understanding all departments and their interrelationships."
Step Up as Needed
Columbia Banking System, Tacoma, Wash.
$8.9 billion of assets
"Always be willing to work on projects that need to be completed without regard for functional ownership. It will enhance your understanding of how banks operate, build your network across the various areas of the organization, and cultivate your leadership skills."
Broaden Your Horizons
First State Bank, Wrens, Ga.
$103 million of assets
"Don't focus on simply one thing. Banking is still largely a people business and I don't see that changing even with millennials joining the team. Keep your eyes open for opportunities and be open to taking risks because the financial industry is changing and we have to change with it."
Pay Attention to Details
First Foundation, Irvine, Calif.
$2.6 billion of assets
"Take time to understand the nuts and bolts of the financial process so you can develop an ability to be an essential part of any management team as they meet the nonstop challenges provided by any business."
Learn from the Past
Comerica, Dallas (left to become CFO of Medtronic)
$69 billion of assets
"One aspect of my job that I have come to appreciate is learning from the past to continually improve upon the future. You're constantly looking back and forward in finance; it's part of the daily routine. Ultimately, it gives you a better appreciation for history while enlightening you to make informed decisions that impact the future."
Learn to Delegate
New Hampshire Mutual Bancorp, Concord
$1.5 billion of assets
"Don't be a control nut. Train and mentor your employees to develop a trusted working relationship, then let them start making decisions at appropriate levels. Over time, and with a little luck, you may cultivate the next generation of leaders in your company. We encourage people to bring fresh ideas into the banking industry to foster innovation."
Know Your Customers
Preferred Bank, Los Angeles
$2.6 billion of assets
"Today's CFO must have a keen understanding of the client base, as well as the markets the bank serves, in order to develop initiatives and recommend strategies that will further the bank's financial goals. As the bank's primary investor relations contact, it is imperative that I can intelligently discuss our customer base so investors understand our business well enough to make their investment decision."
Chart You Own Path
Touchmark National Bank, Alpharetta, Ga.
$196 million of assets
"I believe the keys to being a successful CFO are having a good team behind you, making decisions that are best for your bank and not trying to replicate another bank that has a different business model, and always adapting to the ever-changing banking market."