{"id":25242,"date":"2022-07-11T06:00:24","date_gmt":"2022-07-11T11:00:24","guid":{"rendered":"https:\/\/bankbeat.biz\/?p=25242"},"modified":"2022-07-12T08:46:02","modified_gmt":"2022-07-12T13:46:02","slug":"rising-stars-2022-lynn-rhodes","status":"publish","type":"post","link":"https:\/\/bankbeat.biz\/rising-stars-2022-lynn-rhodes\/","title":{"rendered":"Rising Stars 2022: Lynn Rhodes"},"content":{"rendered":"
\"\"<\/a>
Lynn Rhodes<\/figcaption><\/figure>\n

As both a hiker and a banker, Lynn Rhodes is conditioned to navigate rocky terrain. After 15 years in banking, Rhodes has navigated the ups and the downs of the industry while working at a number of banks, including one that failed.\u00a0<\/span><\/p>\n

Rhodes is now on steady ground as executive vice president of risk management at Flagship Bank Minnesota, Wayzata. She is one of eight bankers honored by BankBeat as a \u201c2022 Rising Star in Banking.\u201d<\/a><\/span><\/p>\n

Rhodes was cautioned early in her career that working in risk management can often be a thankless position. The warning came from a chief financial officer of a Twin Cities community bank that later failed. At the time, Rhodes was an intern in the lending department.<\/span><\/p>\n

\u201cIt\u2019s not a position you want to see any bank go through again,\u201d Rhodes said of the experience. With early exposure to the downside of risk, Rhodes learned the importance of nuanced communication amid great challenges. \u201cI learned a lot about how important oversight and management is in the entire banking process.\u201d\u00a0<\/span><\/p>\n

As the executive vice president of risk management, Rhodes not only oversees the compliance program for the $330 million Flagship Bank, but also for its $728 million sister organization Security Bank & Trust Company in Glencoe, Minn.\u00a0<\/span><\/p>\n

\u201c[Rhodes] has been critical in building and overseeing a strong audit, compliance, CRA and BSA program for both banks, and has helped successfully guide both banks through examinations with multiple agencies as well as numerous independent audits,\u201d said Brian Wagner, president of Flagship.\u00a0<\/span><\/p>\n

While the positive exam and audit results speak for themselves, Wagner said, \u201ca less measurable but equally important aspect of her impact is the positive and collaborative approach she takes with her peers.\u201d\u00a0<\/span><\/p>\n

Though her position is less customer-facing in nature, Rhodes\u2019 communication skills have proven vital to the institutions\u2019 healthy management. This leadership and comprehensive risk management experience has led to growth, success, and \u201cwill continue to be a huge asset for both organizations,\u201d Wagner said.\u00a0\u00a0<\/span><\/p>\n

Overseeing the two banks\u2019 compliance programs has meant understanding and navigating their distinctions. While Security Bank & Trust has a predominantly consumer and rural customer base, Flagship largely serves commercial and urban customers.\u00a0<\/span><\/p>\n

\u201cThey\u2019re totally different markets,\u201d said Jackie Herman, chief operating officer at Flagship. \u201cWorking with each of those unique personalities, she\u2019s able to communicate at different levels \u2026 depending on her audience.\u201d<\/span><\/p>\n

Rhodes administers all things compliance, which often means that \u201cno news is good news in that type of role,\u201d Herman said. Rhodes, however, has honed the ability to communicate with colleagues in a way that is delicate, honest and constructive. Rhodes enjoys explaining difficult concepts in a way that\u2019s understandable and relevant to those in different banking sectors, ultimately contributing to the bank\u2019s culture of transparency and trust.\u00a0<\/span><\/p>\n

\u201cDifferent aspects of banking can get really complicated really fast, especially in regulations,\u201d Rhodes said. Oftentimes regulations are muddled by complicated language, \u201cbut if you break down and simplify it, then it resonates.\u201d<\/span><\/p>\n

When Herman conducted the interview that led to Rhodes\u2019 hiring at Flagship in 2017, she recognized in Rhodes traces of maturity and grit. During interviews, Herman typically looks for three qualities: Intelligence, drive and integrity. The greatest of the three, Herman said, is integrity.\u00a0<\/span><\/p>\n

Herman considered the personality of a hiker \u2014 someone who can maintain mental sharpness under the pressure of less oxygen \u2014 and noticed a parallel to Rhodes\u2019 even-keeled inclination in the comparably high-stakes banking environment of risk management.\u00a0<\/span><\/p>\n

\u201c[Rhodes] has naturally mastered being analytical, being organized, and being personable, all at the same time,\u201d Herman said.<\/span><\/p>\n

Rhodes has a \u201cbig picture\u201d vantage point hoisted by her team-oriented focus and profound industry acumen, which \u201callows her to apply sound banking and compliance practices while assisting bankers in providing a simple and straightforward approach to banking,\u201d Wagner said.<\/span><\/p>\n

Rhodes considers both Herman and Wagner to be friends and mentors. As she looks forward and continues her career ascent, she reflects on the trail of teachable experiences, former colleagues and counselors \u2014 including the CFO who mentally prepared her for banking compliance\u2019s rough terrain.\u00a0<\/span><\/p>\n

The advice to which Rhodes recurrently holds fast is: \u201cTo learn from people who are willing to teach you.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As both a hiker and a banker, Lynn Rhodes is conditioned to navigate rocky terrain. After 15 years in banking, Rhodes has navigated the ups and the downs of the industry while working at a number of banks, including one that failed.\u00a0Rhodes is now on steady ground as executive vice president of risk management at Flagship Bank Minnesota, Wayzata. [Continue] <\/a><\/p>\n","protected":false},"author":6,"featured_media":25237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"generate_page_header":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[5],"tags":[112,54],"yoast_head":"\nRising Stars 2022: Lynn Rhodes - BankBeat<\/title>\n<meta name=\"description\" content=\"After 15 years in banking, Rhodes has navigated ups and the downs. 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