CFO partners with the CEO in providing strategic leadership for the Credit Union. In addition, the CFO directs and manages all Finance and Accounting functions including Financial Reporting, Asset Liability Management, Investment Portfolio Management, Policy Management, Budget Reporting and the coordination of all Internal, External and Regulatory exams and audits. Oversight of Compliance, Human Resource and Deposit Operations units ensuring effective and compliant operations.
Essential Duties and Responsibilities include the following. Other duties may be assigned.
- Serves as a member of the Executive Management Team.
- Ensure the accurate and timely preparation of all internal and regulatory financial reporting.
- Oversee the preparation of all financial reports, including the financial statements, budget variance reports, monthly Board reports, and regulatory call reports.
- Oversee, prepare, present and maintain the annual budget including alignment with strategic initiatives and variance analysis and reporting.
- Manage the Investment Portfolio, including overnight funds, to maximize returns within our established risk tolerances. This includes maintaining relationships with outside investment brokers, analyzing potential investments, recommending investment purchases, and participating in the decision-making process.
- Serve as Chairperson of the Asset Liability Management (ALM) Committee including preparation of ALM Reports, analyzing, interpretation and presentation of ALM data at quarterly (or more frequent) meetings. Identify and recommend Interest Rate Risk (IRR) strategies as appropriate to maintain a strong balance sheet and controlled IRR.
- Play a key role in the strategic plan development and execution process. Provide support and expertise to the Board of Directors and Management Team on the financial impact of strategic initiatives.
- Maintain ALM, Concentration, Liquidity and Investment Policies in accordance with prudent business practice, industry standards and all regulatory requirements.
- Act as a liaison for the Supervisory Committee including scheduling of audits, preparation of reports and tracking of audit related initiatives.
- Oversee all Accounting records including the General Ledger and supportive schedules and reconciliations.
- Member of the Business Loan Committee.
- Administers the Policy Management function for the Credit Union.
- Oversee the Human Resource function of the Credit Union including payroll processing, benefit administration, performance management, policy formation and maintenance.
- Oversee the Compliance function of the Credit Union including quality control, financial platform audit report review, BSA education and compliance, Policy formation and review, regulatory compliance and vendor management oversight.
- Oversee the Deposit Operations function of the Credit Union including plastic card, Share Draft, ACH, mobile deposit and wire transfer processing and posting.
- Maintain and create an environment of efficiency, ownership and accountability.
- Performs personnel actions including performance appraisals, disciplinary actions, and interviewing candidates for employment.
Education and/or Experience
Candidates should possess a minimum of 10 years of experience in Financial Management in a Banking or Credit Union environment. At least five years of this experience should be at the executive level.
The CFO should possess a Bachelor’s Degree in Finance, or Accounting.
Further qualifications include the ability to lead, organize, direct, and control a multi-functional operation; strong research, analytical, and problem-solving skills; a solid understanding of computerized accounting systems within a digital, network environment.