Going Above and Beyond

It is hard not to be concerned when you come across headlines like, “Global Banking Crisis” and not worry about your financial assets and bank.

When it comes to protecting our customers and their financial assets, Home State Bank doesn’t cut any corners. Our customers are always at the forefront of our business decisions, ensuring we never put them or our bank in any risky situations.

And rest assured, you won’t need to worry about headlines like these when you choose Home State Bank. Not only because of our general banking procedures and customer-focused decisions, but also because we proactively take risk management seriously.

We care about avoiding risk so much, that we even have a special position, Enterprise Risk Manager, led by Tiffany Sohm. This is a unique position, and Tiffany has unique experience that differentiates Home State Bank from other banks.

Meet Tiffany

I started my career in banking as a summer intern at Home State Bank in 2007, while home from college one summer. I assisted on the teller line and with many other bank projects.

I enjoyed banking, so I pursued an internship at the Federal Deposit Insurance Corporation (FDIC) as a bank examiner. I held this position for two years before I became a full-time FDIC employee after graduation from college in May 2008. 

I experienced the financial crisis during my internship, which continued for several years until the economy began to improve. In 2010, I spent nine weeks working with the FDIC’s Division of Resolutions and Receiverships, which is the department that handles all bank failures. I participated in two bank closings and spent a week at each closing helping to value the assets that were transferred to the purchasing bank. 

Working with failed and problem banks during the early years of my career allowed me to learn so much about banking and risk management, and created a passion for identifying, measuring, monitoring, and controlling risk. 

What Does Tiffany Do as an Enterprise Risk Manager?

When I received the opportunity to join Home State Bank in 2019, I was excited to apply my knowledge to one bank instead of doing exams on banks across Iowa. 

As the Enterprise Risk Manager, I am responsible for oversight of all risks present across the bank. Other responsibilities include:

• Attending committee meetings for Loans, Asset/Liability Management, Information Technology, and more in order to stay informed about potential risk.
• Identifying areas I need to review further. 
• Completing several internal audits and managing required external audits.
• Handling correspondence with our regulators, the Iowa Division of Banking and the FDIC.
• Leading preparations for bank examinations.. 
• Regularly meet with the Board Audit Committee, which keeps our directors informed of any issues or concerns. 

In addition to the above responsibilities, the staff here at Home State Bank can utilize me as a resource to review their work or research items whenever they need!

Tiffany’s role is a unique position for a bank of our size. This is a testament to the dedication of our senior management, board of directors, and our ownership to protecting our depositors and ensuring continued strength as a community bank for years to come. 

While you can rest easy knowing your deposits and financial assets are safe with Tiffany’s expertise keeping a watchful eye, you can also always contact Home State Bank if you ever have any questions or worries.

Member FDIC and Equal Housing Lender