Langley Federal Credit Union is currently hiring for a Full Time Vice President of Accounting and Corporate Controller to work in person from our City Center Headquarters located in Newport News, VA.Job Summary:The Vice President of Accounting and Corporate Controller ensures the integrity of the general ledger and the accuracy and timeliness of both internal and external financial reporting. This role oversees the design and operation of the accounting control environment. It directs all accounting operations, including financial close processes, consolidations, regulatory reporting, the allowance for credit losses, subsidiary and foundation accounting, tax compliance, and the establishment of accounting policies for a complex, growth-oriented institution with multiple wholly owned and minority-interest subsidiaries (CUSOs) and an affiliated charitable foundation. The Corporate Controller serves as a senior technical accounting resource for the Credit Union, advancing the consistent application of U.S. GAAP throughout the organization, including CECL. Additionally, this position serves as a key point of contact for external auditors, the Supervisory Committee, and NCUA examiners on accounting and financial reporting matters.
Essential Functions, Duties, and Responsibilities:Accounting Operations and Financial Close
- Directs all general ledger operations, including chart of accounts governance, journal entry standards, account ownership, and month-end, quarter-end, and year-end close. Drives the close calendar to a consistent, documented timeline with clear escalation paths.
- Owns account reconciliation and certification programs across all accounts, with risk-based frequency, aging standards, and independent review requirements.
- Oversees accounting for loans (including purchased and participated loans), investments, deposits, borrowings, derivatives and hedging, leases, fixed assets, prepaid and accrual accounts, and employee benefit plan obligations. Directs accounts payable, purchasing card, and disbursement operations in accordance with the Purchasing and Accounts Payable Policy, including segregation-of-duties and payment fraud controls.
- Continuously improves close efficiency through automation, standardization, and elimination of manual processes.
Financial Reporting
- Produces accurate, timely monthly financial statements and supporting analytics for the ELT, ALCO, and Board of Directors.
- Prepares annual audited financial statements and footnote disclosures in accordance with U.S. GAAP, coordinating all supporting schedules and disclosure checklists.
- Owns the NCUA 5300 Call Report end-to-end: preparation, review, certification support, cross-validation to the general ledger, and remediation of any edit or accuracy findings. Maintains documented Call Report mapping and change control.
- Contributes to capital reporting and monitoring under NCUA Part 702, including risk-based capital / CCULR computations and the interaction between the allowance, capital, and earnings.
- Partners with Financial Planning & Analysis on management reporting, cost center and profitability reporting, and the integrity of data feeding forecasting and ALM models.
CECL and Allowance for Credit Loss
- Owns the ACL process across all portfolios - consumer, indirect auto, real estate, commercial/member business, investments (AFS/HTM), and off-balance-sheet exposures - including model execution, qualitative factor framework, individually evaluated loans, and reasonable and supportable forecast selection.
- Serves as management's lead for allowance governance, including preparation of ACL documentation packages for the Credit Reserves Committee and presentation of results, sensitivity analyses, and back-testing.
- Maintains CECL model documentation, assumption inventories, and change control consistent with model risk management expectations; coordinates independent model validation and remediates findings.
- Ensures charge-off, recovery, and non-accrual practices conform to GAAP, NCUA requirements, and internal policy, and reconciles credit data between servicing systems, the data warehouse, and the general ledger.
Subsidiary, CUSO, and Foundation Accounting
- Directs accounting and consolidation for all wholly owned and minority-interest subsidiaries, including intercompany transactions, eliminations, and stand-alone subsidiary reporting where required.
- Oversees accounting, financial reporting, and audit/tax support for the affiliated charitable foundation, and Form 990 compliance.
- Contributes to corporate development activity, including CUSO formations, dissolutions, restructurings, and potential mergers, purchase accounting, and post-transaction reporting.
Internal Controls, Audit, and Examination Management
- Designs, documents, and maintains the internal control environment over financial reporting, including key control identification, segregation of duties, and control testing coordination; remediates control deficiencies on committed timelines.
- Serves as management's liaison to the external audit firm: planning, PBC management, technical accounting positions, audit adjustments, and management letter responses.
- Provides the Supervisory Committee with direct, transparent reporting on financial reporting risk, audit results, and control matters.
- Leads accounting responses to NCUA examinations, including document production, examiner inquiries, and remediation of Documents of Resolution or examiner findings touching accounting and reporting.
Technical Accounting and Policy
- Serves as a senior technical resource on U.S. GAAP for the Credit Union. Monitors FASB standard-setting and NCUA accounting guidance; assesses, documents, and implements new standards with formal adoption memos and Board/committee education as needed.
- Owns the accounting policy library: written policies for the allowance, investments, derivatives, capitalization, leases, intangibles, revenue and fee recognition, and non-routine transactions, reviewed on a defined cycle.
- Prepares technical accounting whitepapers for significant or judgmental transactions (e.g., loan participations and sales treatment under ASC 860, hedge designation, CUSO investment structures, subordinated debt) suitable for auditor and examiner review.
Tax and Regulatory Compliance
- Directs all tax compliance for the Credit Union and related entities, including Form 990 and 990-T (unrelated business income tax) analysis and filings, payroll and information reporting oversight, state and local filings, and property/sales tax where applicable.
- Monitors UBIT exposure from CUSO activities, wealth management, and other non-core revenue streams; documents positions and coordinates with external tax advisors.
Leadership and Team Development
- Builds, leads, and develops a high-performing accounting organization with clear ownership, documented procedures, and cross-training that eliminates single points of failure.
- Establishes succession depth for critical roles (Call Report, ACL, consolidations) and a talent pipeline including CPA development support.
- Leads accounting workstreams for finance systems initiatives - general ledger modernization, financial performance management platforms (FTP, cost center reporting), reconciliation automation, and data warehouse integration.
Qualifications:- Bachelor's degree in accounting, Finance, or a related field required; master's degree or MBA preferred.
- Active Certified Public Accountant (CPA) license in good standing in at least one U.S. state is required.
- Minimum 10 years of progressive accounting experience in financial institutions, including:
- Five or more years in a controllership or senior accounting leadership role.
- Demonstrated technical command of US GAAP for financial institutions, with hands-on ownership of CECL implementation or execution, including model governance and audit/examiner defense.
- Direct experience with multi-entity consolidations, intercompany accounting, and subsidiary or CUSO structures.
- Direct experience at a financial institution of $10B or more in assets is strongly preferred, including experience preparing an institution for, or operating under, the heightened regulatory expectations at the $10B threshold.
Targeted Salary Range- $190,000 - $250,000 based on qualifications and experience
Our Keys to Success:- Service Champion - Adopts a service orientation, building trusting relationships and delivering value for associates, members, and communities.
- Langley Ambassador - Demonstrates a passion for Langley's vision, encouraging diversity, equity, and inclusion while considering Langley's values when making decisions and taking accountability for delivering results.
- Agile in Action - Adapts to changes in the business, demonstrating innovation to improve Langley and advance the business into the future.
- Team Driven - Collaborates across Langley, communicating with transparency and prioritizing a team-based approach that delivers optimal outcomes for associates, members, and communities.
- Continuous Learner - Maintains an understanding of Langley's business and how value is delivered to members and actively pursues opportunities to grow oneself and strengthen the organization.
Physical Requirements:The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions, duties, and responsibilities of this position. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this Job, the employee is frequently required to sit, use hands to finger, handle, or reach with hands and arms, feel, and talk or hear. The employee is occasionally required to stand and/or walk. Specific vision requirements for the job include close vision (at 20 inches or less).
Working Conditions:The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. Work is generally performed in a climate-controlled office environment where the noise level is typically quiet to moderate.
This job description is not designed to cover or contain a comprehensive listing of functions, duties, or responsibilities that are required of the employee. Functions, duties, and responsibilities may change, or new ones may be assigned at any time with or without notice.
