Chief Revenue Officer - Insurance

First Mid-Illinois Bancshares, Inc.; Rockford (IL); On-site; USD 180,000 - 220,000; Full time

Benefits offered by this job

Health benefits

401(k) with employer match

Paid time off

Job summary

First Mid Bancshares, Inc. is seeking a Chief Revenue Officer to align insurance and banking services, drive revenue growth, and deepen client relationships across the bank’s ecosystem.

The CRO will oversee insurance sales, partnerships, and a cross-sell strategy, while ensuring regulatory compliance and operational excellence within a community banking framework.

Qualifications

• Bachelor’s degree in Business, Finance, or related field (MBA preferred).
• 10+ years of leadership experience in insurance, banking, or a combined financial services environment.
• Proven success in driving revenue growth within a relationship-based, referral-driven model.

Responsibilities

• Develop and execute a revenue growth strategy aligned with insurance agency and parent bank objectives.
• Directly manage and develop insurance team members, implementing sales processes.
• Identify opportunities to expand insurance offerings within the bank’s customer base.
• Partner with executive leadership to drive integrated financial services solutions.
• Build partnerships with banking and wealth management teams to drive referrals and cross-sell.
• Lead agency sales across lines (P&C, benefits, life) and oversee performance and pipeline.
• Oversee hybrid distribution model leveraging bank referrals and agency production.
• Ensure compliant and ethical sales practices across banking and insurance activities.

Skills

Revenue growth

Leadership presence

Strategic mindset

Cross-functional partnerships

Integrity

Education

Bachelor’s degree in Business/Finance

MBA preferred

Job description

At First Mid, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of discretionary short-term incentives (i.e. bonus, incentives, and/or commission). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, tuition reimbursement, an Employee Stock Purchase Plan, and a 401K plan with company match. Incentives and benefits are subject to eligibility requirements.

The Chief Revenue Officer (CRO) for the First Mid Insurance Group is a strategic leader responsible for organic growth and for driving revenue growth across the insurance agency while aligning closely with the community bank’s overall financial, customer, and relationship strategies. This role ensures seamless integration between banking and insurance services, maximizing cross-sell opportunities, deepening client relationships, and enhancing the overall customer experience.

Responsibilities include, but is not limited to:

• Develop and execute a revenue growth strategy aligned with both the insurance agency and parent bank’s strategic objectives.
• Directly manage and develop insurance team members, implementing sales processes to ensure a high level of success.
• Identify opportunities to expand insurance offerings within the bank’s customer base.
• Partner with executive leadership to drive integrated financial services solutions.
• Build strong partnerships with retail banking, commercial banking, and wealth management teams to drive referral pipelines.
• Design and implement cross-sell strategies that embed insurance solutions into the bank’s customer lifecycle.
• Establish processes, training, and incentives to support banker engagement in insurance referrals.
• Lead agency sales and sales talent acquisition across all lines (e.g., commercial property & casualty, personal lines, employee benefits, life).
• Oversee producer performance, pipeline management, and sales effectiveness.
• Optimize a hybrid distribution model leveraging both bank referrals and independent agency production
• Champion a relationship-first approach that aligns with community banking values.
• Drive client retention, satisfaction, and lifetime value through personalized service models.
• Ensure a consistent and high-quality experience across both bank and agency touchpoints.
• Strengthen the agency’s presence within local communities served by the bank.
• Identify opportunities for growth in key markets and customer segments.
• Represent the organization in community and industry engagements to build brand awareness.
• Cultivate relationships with carriers, wholesalers, and strategic partners to enhance product offerings and competitiveness.
• Evaluate acquisition opportunities and partnerships that align with growth objectives.
• Support integration efforts for newly acquired agencies or teams.
• Establish and track key performance metrics tied to revenue growth, cross-sell success, and client retention.
• Provide regular reporting and insights to executive leadership and the board.
• Drive accountability across sales and relationship teams.
• Ensure all revenue-generating activities comply with banking and insurance regulations.
• Partner with compliance and risk teams to maintain adherence to applicable laws and internal policies.
• Promote ethical sales practices consistent with the bank’s reputation and values.
• Serves in a senior management role within FMIG. In this capacity may be responsible for other management responsibilities including personnel decisions, budgeting, P&L responsibility, decisions with regards to talent recruitment/termination, strategic planning, employee engagement initiatives and other high-level management projects and initiatives.

Qualifications

Education/Experience

• Bachelor’s degree in Business, Finance, or related field (MBA preferred).
• 10+ years of leadership experience in insurance, banking, or a combined financial services environment.
• Proven success in driving revenue growth within a relationship-based, referral-driven model.

Skills

• Deep understanding of insurance products (P&C, benefits, life) and community banking operations.
• Demonstrated ability to build and sustain cross-functional partnerships.
• Strong leadership presence with the ability to influence both bank and agency teams.
• Strategic mindset with hands‑on execution capability.
• High level of integrity and commitment to customer‑centric service.

Total Rewards

• Competitive health, dental & vision coverage with HSA match
• 401(k) with employer match + Employee Stock Purchase Plan
• Generous PTO, paid holidays & parental leave
• Tuition reimbursement & performance-based bonuses
• Visit our Total Rewards page to see our full list of benefits

First Mid Bancshares, Inc. is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, gender identity, sexual orientation, protected veteran status, or any other applicable federal or state-protected classification.

THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT

Pay Range: $200,000 plus incentive compensation