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Bell Bank Appoints Chief Risk Officer in Prep for $10B Asset Threshold

New Executive to Lead Risk Management for One of Nation’s Largest Privately Held Banks

Minneapolis (November 10, 2020) — Bell Bank has hired Jesse Schwab as executive vice president/chief risk officer, with oversight of all non-credit related risk management for Bell Bank and its divisions. Schwab has joined Bell’s executive leadership team and has offices at Bell’s Minneapolis – Colonnade and Bloomington – Bell Plaza locations.

“We’re excited to have Jesse join our growing Bell team,” said Michael Solberg, Bell’s president and CEO. “His experience in this arena will help us implement additional risk management processes and policies. Jesse’s role is particularly important as Bell Bank approaches the $10 billion asset threshold, which will make us subject to additional regulations.”

“Bell Bank’s core values align with my Midwestern roots and what I see as crucial in our industry,” Schwab commented. “These values of family, service and giving back will serve as the foundation of an expanded risk management program that will support Bell’s continued growth. Our risk management team is a partner across the company, helping achieve strategic goals while ensuring proper guardrails and controls are in place to protect the bank and ensure it is strong, safe and equitable for all.”

Schwab spent the past 6 years at TCF Bank, where he held leadership roles in both risk management and compliance. In his banking career, Schwab has combined understanding of business approaches and goals with an appreciation of the supervisory processes and expectations of regulatory agencies. After establishing TCF’s Regulatory Affairs Office, Schwab served as TCF’s chief compliance officer and director of regulatory affairs, overseeing the bank’s regulatory relationships and corporate compliance program – including consumer compliance, fair lending practices, and obligations under the Community Reinvestment Act. Prior to his work in the banking field, Schwab was a private practice attorney with a focus in consumer protection and bankruptcy matters; he held roles with both the Colorado Office of the State Auditor and the Chile Public Prosecutor’s Office.

Originally from Bismarck, N.D., Schwab graduated from the University of North Dakota with a degree in political science and earned his juris doctorate from California Western School of Law in San Diego, Calif.  He currently resides in Edina, Minn., with his wife and 2-year-old daughter.

Founded in 1966 in Fargo, N.D., Bell Bank is one of the nation’s largest independently owned banks, with full-service banking locations in Minnesota, North Dakota and Arizona and more than $8 billion in assets. The company provides a broad range of financial services, including personal and commercial banking, wealth management, mortgage and insurance. Bell opened its first full-service Twin Cities banking location west of downtown Minneapolis in 2012, adding full-service banks in Woodbury, Stillwater, Maple Grove and Forest Lake, and loan production/deposit production offices in Bloomington and White Bear Lake.

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