Chief Financial Officer

Company: Service 1st Federal Credit Union
Location: Danville
Posted on: March 20, 2023

Job Description:

Full Time - ExemptRole: -Direct auditing, record keeping, accounting and financial activities of the credit union. Administer and oversee the budget process, financial forecasts, branch accounting and product profitability for the credit union. Directs the Asset / Liability Management activities for the credit union. Responsible for monitoring liquidity and investment portfolio. Coordinates external audits. Serves as a member of the Leadership Team and assists the President/CEO in overall management of the credit union.

Essential Functions & Responsibilities:
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• E 20% - Directs the credit union's Asset-Liability Management process as well as investment activities as -custodian of funds, securities, and assets of the organization. Develops and monitors liquidity -and liquidity strategies.
• E 15% - Oversees accounting department; hires, trains, directs, and evaluates employee performance -within the departments; approves promotions, transfers and salary adjustments.
• E 10% - Oversees and directs budgeting, accounting, purchasing, real estate, and insurance activities.
• E 10% - Oversees the preparation of all financial reports; ensures complete and accurate financial, -statistical, and accounting records of the credit union.
• E 5% - Formulates and executes investment policy; prepares financial forecasts.
• E 5% - Works with auditors/examiners on year-end and comprehensive audits.
• E 5% - Develops new business relationships with prospective members and maintains or increases -business with current key members by making personal contacts.
• E 5% - Reviews operational procedures to obtain optimum efficiency and reduced costs.
• E 5% - Writes, reviews, and distributes financial policy and procedure statements to ensure regulatory -and policy compliance. Oversees reporting to regulatory authorities and reports findings to the -board of directors.
• E 5% - Implements and reviews risk management initiatives.
• E 5% - Directs preparation and evaluation of budgets and capital plans; directs receipt, disbursement and -expenditures of money or capital assets. Analyzes department budgets and allocates operating -budget.
• E 5% - Provides safekeeping, control, and accounting for assets and securities.
• N 5% - Performs other job-related duties as assigned.Performance Measurements:
• Responsible for preparation of long-range, annual forecasts, budgets and periodic analysis of variances. Analyzes branch and department budgets and allocates operating budget.
• Oversee the accounting department and monitors cost control activities. Maintain a highly qualified staff, sufficient to meet short and long-term organizational goals.
• Ensure the credit union's financial activities follow sound financial principles, comply with all banking regulations, and are in compliance with GAAP.
• Ensure security and soundness of all credit union financial records, reviewing all general ledger accounts and subsidiaries monthly to ensure proper balancing and review cash position daily to ensure sufficient availability of funds.
• Write, review, and distribute financial policy and procedure statements to ensure regulatory and policy compliance.
• Oversee the accuracy and production of the branch profitability software. Oversee distribution of reports with recommendations for improvements as needed.
• Assist in development of the overall strategic Credit Union plan. Attend and participate in the annual board planning session.
• Report regularly to President/CEO and Board on financial matters of the credit union. Assist the President/CEO with reports and other preparations as requested for board meetings.
• Provide recommendations to President/CEO and Board for potential improvements to the balance sheet mix and/or income and expense categories, as well as improvements for products, services and processes.
• Research, monitor, evaluate and report on financial trends in the financial services industry and/or economy in order to provide leadership with sufficient information to identify potential opportunities or weaknesses the Credit Union may face.
• Responsible for Asset/Liability Management process and reporting. Serve as the Asset/Liability Management Committee Chair. Prepares Asset/Liability reports for management review and presents at scheduled ALM meetings. Keeps abreast of industry trends in order to apply to ALM function.
• Serve as a member of rate review, disaster recovery, executive benefits investment, risk assessment, technology steering and finance committees.
• Manage the credit union's investment portfolio. Achieve or exceed results as specified in the credit union's budget for investments.
• Assist in the development of new products and services and the analysis of current and potential branch site locations.
• Provide direct supervision, mentoring and coaching to the Vice President Accounting.
• Serve as main contact and coordinate all audit activities with examiners and external auditors. Oversee the retention of all external audits. Prepare all year-end financial disclosures as required.
• Attend Board meetings and report on assigned areas of responsibility as requested by the President/CEO.
• Represents the credit union in the communities we serve and in the credit union community by attending community events, civic functions, credit union council meetings, etc. When appropriate, assumes leadership roles on committees and civic organizations.
• Project a positive and professional image of the Credit Union in all materials and interactions.
• Keep management informed regarding key operational issues affecting the department and the credit union.
• Serve as a liaison between the Credit Union and selected outside organizations.
• Develops new business relationships with prospective customers and maintains or increases business with current key customers by making personal contacts.
• Inform President/CEO of all pertinent internal activity, including staff performance.
• Serve as a member of the Leadership Team of the credit union. As a team, assign or as delegated, assume duties of the President/CEO in their absence as needed.
• Travel as needed to branch locations to ensure level of service meets credit union's quality service standards.
• Attend conferences, seminars and workshops relating to job.
• Maintain eligibility and continuing education requirements necessary to obtain and maintain various licenses and requirements for position.Knowledge, Skills and Abilities:
  
  Education -- (1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree (e.g., information technology certifications in lieu of a degree).Experience -- -Eight to ten years of similar or related experience. Prior financial institution experience preferred.Interpersonal Skills -- -Work frequently involves exercising advanced conflict resolution, giving material presentations, and resolving issues impacting multiple departments or divisions. Role also requires the ability to motivate or influence others as a material part of the role, with a significant level of diplomacy and trust. Obtaining cooperation (internally and/or externally) is an important part of the role and a high level of interpersonal skills is critical to the success of this position.Other Skills -- Excellent analytical skills, people skills, and self-direction are required. -Must be proficient with PC accounting, spreadsheet, and word processing software. -Requires current knowledge of accounting related technology regarding hardware and software applications. Knowledge of the Credit Union movement and philosophy and prior supervisory experience preferred.Physical Requirements - -Involves sitting most of the time. Walking and standing are required occasionally. Repetitive finger movements to perform typing or otherwise working with paper files and documents. Require close visual acuity to prepare and analyze date and figures; view a computer terminal; read; and assess work quality.Service 1st Federal Credit Union provides equal opportunity without regard to -sex, gender identity, sexual orientation, race, color, religious creed, national -origin, physical or mental disability, protected veteran status, or any other characteristic -protected by applicable law -in -employment and in our business activities.Powered by JazzHR

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