Specialty Business Banking Associate

Company: Park State Bank
Location: Duluth
Posted on: April 1, 2025

Job Description:

Description:CORE VALUES: Park State Bank's Core values are GROWTH, TEAMWORK, RESPONSIVE, TRANSPARENT, and INNOVATIVE. We endeavor to live by these values in all that we do!
MISSION: The mission of Park State Bank is to deliver exceptional client service, strategic banking solutions and a community-friendly experience.
POSITION SUMMARY:The Specialty Business Banking Associate will be an integral part of Park State Bank's specialty business development. This role will be the frontline liaison between Park State Bank and cannabis-related businesses, providing unparalleled service and support. The Specialty Business Banking Associate is responsible for providing exceptional customer service to clients within the cannabis industry. This role primarily involves assisting clients with their banking needs, addressing inquiries, resolving issues, and ensuring compliance with regulatory requirements specific to the cannabis sector. It may also serve to grow this new banking sector through attending industry or legislative events, learning about and creating business opportunities.
PRIMARY RESPONSIBILITIES AND ACCOUNTABILITIES:

• Client Support: Serve as the primary point of contact for cannabis industry clients, addressing their inquiries and requests promptly and professionally.
  
  • Account Management: Assist clients with opening and managing accounts, including guiding them through the application process, explaining account features, and ensuring compliance with regulatory requirements. Provides key support by maintaining a client focus with an awareness and understanding of implementing products and services.
    
    • Compliance Oversight: Ensure adherence to all regulatory requirements related to cannabis banking, including Customer Identification Program (CIP) (BO) procedures, Know Your Customer (KYC), Anti-Money Laundering (AML) regulations, and the Bank Secrecy Act (BSA). Maintain a thorough understanding of regulatory guidelines and compliance requirements specific to the cannabis industry, ensuring that all banking activities adhere to legal and institutional standards. Collaborating with the Compliance Department and BSA Officer to navigate the unique challenges of the cannabis industry within the financial sector.
      
      • Risk Management: Manage all regulatory license requirements through bank defined operating systems. Complete client site visits on an ongoing basis. Work with BSA Analyst to ensure that client risk, compliance alerts and data points are addressed.
        
        • Relationship Building & Cross-Selling: Cultivate strong relationships with cannabis industry clients, demonstrating empathy, integrity, and a commitment to their success while fostering trust and loyalty. Responsibilities include identifying new business opportunities, managing client portfolios, and identifying opportunities to promote additional banking products and services that align with the needs and goals of cannabis businesses.
          
          • Team Collaboration: Collaborates closely with the Cannabis Related Business team. This includes but is not limited to the banks CRB Officer, Business Banking, Compliance department and Operations.
            
            • Specialty Banking Education: Develop and maintain knowledge necessary to have a thorough understanding of the cannabis industry and banking. This includes but is not limited to attending seminars, educational training and webinars, & networking events and industry expos on an as needed basis.
              SECONDARY RESPONSIBILITIES AND ACCOUNTABILITIES:Acts as support and back-up to the Business Banking Associate department. Performs all activities related to the opening, closing, and servicing of various types of time and demand deposit accounts; including certificates of deposits, checking accounts, and savings accounts. Perform a wide range of services including, servicing and maintenance for, debit cards, CDs, HSAs, IRAs, safe deposit boxes, including address changes, stop payments, transfers, and processes check orders.
              • Handles basic to intermediate Treasury Management related problems and delegate more complex issues to the appropriate channel.
              • Initiate wire transfers. Ensures applicable regulations, disclosures, policies, and procedures are followed and is trained on depository compliance regulations.
              • May process client transactions such as loan payments and cashier's checks.
              • May assist with overseeing Merchant Card Processing portfolio for existing and new clients.
              • May function as a point person for client on suspected or real fraud on businesses deposit accounts.
              • May assist with answering branch phone calls.
              • Prepare and send client statements and tax information, as requested.
              • May contribute to overall office administration.
              • Other duties as may be assigned.Other Skills and Abilities
                • Belief in and dedication to Park State Bank Core Values, Mission and Core Focus - To be The Best Bank!
                • Comfortable greeting and working with customers
                • Ability to work independently as well as part of a collaborative team environment
                • Flexibility to adapt to changing regulatory requirements and industry dynamics
                • Commitment to upholding confidentiality, integrity, and ethical standards in all interactions
                • Strong communication skills
                • Client service focused
                • Resourceful, well organized and can manage distractions/interruptions easily
                • Effective problem-solving and decision-making skills
                • Strong attention to detailPERFORMANCE MEASURES:
                  • Timely execution of Rocks, To-Dos, active participation in L10 meetings
                  • Demonstration of Core Values
                  • Meets or exceeds annual goals as pre-established by immediate supervisor
                  • Maintains confidentiality of client account information
                  • Follows established policies and procedures in responding to inquiries and requests
                  • Willingly participates in bank training, including sales and service training
                  • In compliance with all regulations related to job duties
                  • Effectiveness of communications and development of good working relationships with co-workers and clients
                    WORKING CONDITIONS:Must be able to meet deadlines and adjust priorities independently. Frequently communicates with employees, clients and vendors.
                    Will need to function in a very fast-paced environment while remaining calm and precise. Must have excellent interpersonal and organizational skills and enjoy working with the public. Will need to communicate in a clear, concise, and pleasant manner.
                    May, on occasion, have to work longer hours than scheduled.
                    Must be able to meet deadlines, multi-task and adjust priorities as necessary. Must possess strong organizational, analytical, communication, and interpersonal skills, including the ability to work with all levels of management and the Bank's vendors. Will have access to and knowledge of all client information, and the bank's finances, so the ability to keep information confidential is extremely important.
                    The employee will be working in an indoor office setting in a light work situation (exerting up to 20 lbs. of force frequently, and/or a negligible amount of force constantly to move objects). Must be able to remain in a stationary position 50% of the time and be able to occasionally move about inside the office to access file cabinets, office machinery, etc. Constantly operates a computer and other office productivity equipment. Employee frequently communicates with employees, clients and vendors. Must be able to exchange accurate information both orally and written in English. Employee will be required to travel to branches located within the region so must have a valid driver's license and reliable transportation. Serves as a representative of the Bank at appropriate functions.
                    Despite ongoing security training, there is always the possibility of a bank robbery.
                    GENERAL NOTICE:This description is not designed to cover or contain a comprehensive list of activities, duties or responsibilities that are required of the employee. Other duties may be assigned as necessary.
                    This position description describes the general nature and level of work performed by the employee assigned to this position and should not be interpreted as all inclusive. It does not state or imply that these are the only duties and responsibilities assigned to the position. The employee may be required to perform other job-related duties. All requirements are subject to change and to possible modification to reasonably accommodate individuals with a disability.
                    • This position description does not constitute an employment agreement between the Bank and employee and is subject to change by the employer as the needs of the Bank and requirements of the position change.ROLE QUALIFICATIONS:Experience
                      • 3-5 years retail or business banking experience required.
                      • Prior experience in customer service, preferably in a banking or financial services industry.
                      • Knowledge of banking operations, regulations, and compliance requirements, with specific understanding of the legal framework surrounding the cannabis industry being a significant advantage.
                      • Excellent communication skills, both verbal and written, with the ability to effectively convey complex information and resolve issues with professionalism and diplomacy.
                        Requirements:
                        • High school diploma
                        • Some post-secondary education desired
                          
                          
                          
                          Compensation details: 21-29 Hourly Wage
                          
                          
                          
                          PIa50ec50d2235-37248-37206812

Keywords: Park State Bank, Duluth , Specialty Business Banking Associate, Accounting, Auditing , Duluth, Minnesota