AVP Finance

About the Role:

The AVP Finance is responsible for managing all the activities of the Accounting and Finance departments to maintain the accuracy and integrity of the consolidated general ledger and financial statements. Responsibilities include managing month-end close, managing the financial planning, analysis, and reporting processes, complying with GAAP and Federal regulations, setting and attaining established credit union and department goals, and preparation of financial and statistical reports for senior management, Board of Directors, regulators, and external auditors. Ensures appropriate internal controls to mitigate financial exposure, prepares finance/accounting risk assessments and collaborates with Risk Management in the prioritization of addressing identified risks.

Scheduled Weekly Hours:

40 hours per week; Monday – Friday

What you’ll be doing:

1. Managing Accounting and Finance Operations: Oversee all aspects of the credit union's accounting and finance functions, including control systems, transaction processing, and policies.
   1. Ensuring Accuracy and Productivity: Oversee the daily activities and systems related to accounts payable, accounts receivable, fixed assets, investments, and general accounting to ensure accuracy and efficiency.
   2. Reconciliation and Documentation: Ensure all general ledger accounts are reconciled and documented in a timely manner.
   3. Developing and Implementing Policies: Develop, test, and implement policies and procedures for maintaining accurate accounting records and preparing reports. This includes maintaining a documented system of internal controls and accounting/finance policies.
   4. Interpreting Accounting Guidance: Interpret pronouncements from the Financial Accounting Standards Board (FASB) and regulatory accounting guidance. Prepare written reports on the implications for the credit union, including compliance timelines and implementation processes (including policies and procedures).
   5. Preparation of Financial Statements: Ensure timely and accurate publication of financial statements, the NCUA 5300 call report, and respective tax reporting.
   6. Asset Liability Committee (ALCO) Participation and Reporting: Collaborates with respective contributors in the preparation of reports and presentations. Presents and recommends tactics to achieve or exceed financial goals.
   7. Pricing/Profitability Analysis: Develop, implement, and maintain pricing and profitability analytics to support business decisions including but not limited to: product, delivery channel, and member. Owns vendor relationship(s) and ensures data is protected within credit unions standards.
   8. Financial Risk Assessment: Ensures credit risk, interest rate risk, liquidity risk, and capital adequacy assessments are designed appropriately for the size and complexity of the Credit Union.
2. Manages the Financial Planning, Analysis, and Reporting processes collaborating with management and the SVP/CFO to achieve financial goals.
   1. Financial Planning and Forecasting: Lead the annual planning process collaborating with key stakeholders in the development of the Credit Union’s annual plan. Lead the quarterly forecasting process and timely communication of results and recommendations to achieve financial goals.
   2. Variance Analysis: Prepares written variance analysis reports identifying key drivers of performance. Ensures timely delivery of departmental reports.
   3. Continuous Improvement: Identify areas of improvement and implement appropriately.
3. Recommend investment strategies and tactics to achieve established goals to the SVP/CFO.
4. Responsible for assigned projects; gathers data and prepares reports for senior managers, executives, audits, and other personnel.
5. Maintain a positive member service attitude when assisting either internal or external members. Remain flexible while focused on accepted practices, policies, productivity and effectiveness.
6. Promotes and maintains a positive image of the Credit Union image and philosophy at all times to personnel, members, vendors and the community. Attends presentations and conferences, as appropriate.

Supervisory Responsibilities:

1. Directly supervises employees assigned to accounting functions. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws.
2. Maintains smoothly functioning department/work area in compliance with standards set by the credit union’s Human Resources Department.
3. Establishes the scope of authority and responsibility for direct reports.
4. Periodically meets with direct reports to establish individual and team performance goals to review, coach and monitor performance against goals, discuss significant operations issues and review staff training and development requirements. Establishes goals and measures to track the success of the department.
5. Promotes teamwork between Accounting and Finance staff to ensure work is performed in a collaborative manner and standards for excellent member service are achieved.
6. Maintains effective communication with all management staff to ensure coordination and exchange of information for accomplishing Credit Union goals. Gathers and disseminates information to all areas/departments regarding policy and procedures changes, and other important issues involving assigned areas.
7. Analyzes the workflow of the department and makes recommendations to the SVP/CFO for changes to improve efficiency and reduce cost.
8. Coordinates the orientation and training of new staff.
9. Conducts performance evaluations of direct reports and recommends merit increases, when applicable.

Your Prefect For This Role If You Have: 

• Bachelor's degree (B. A.) in Accounting or Finance from four-year college or university
• CPA highly desired
• Minimum of 5-7 years of relevant work experience, including financial reporting and accounting with 3-4 years of previous supervisory/managerial experience
• Understanding of GAAP, finance practices, credit union regulations and regulatory reporting guidelines
• A thorough understanding of month-end closing processes, journal entries and accruals, settlement process, cash movements, and balancing
• Demonstrated analytical and problem-solving skills
• Strong verbal and written communication skills
• Ability to manage multiple priorities, drive projects, improve processes, and work well under tight deadlines.
• Dedicated, reliable, self-motivated individual with strong organizational capabilities.
• Must be flexible and adaptable in a continuously changing environment to meet deadlines

Who We Are:

Bay Federal Credit Union was started in 1957 when local school teachers pooled their money together to start a credit union. This  original vision and investment has grown into the area’s largest locally-owned financial institution, with nearly $1.6 billion in assets. Today, Bay Federal provides full service financial products and solutions to individuals and businesses in Santa Cruz, Monterey, and San Benito counties.

As a local, member-owned, not-for-profit financial cooperative, we are passionate about contributing to the community and being an integral part of its incredible story. Each year, our employees volunteer their time and donate their money to local non-profits, schools, and events. Our managers serve on local non-profit Boards of Director to be involved, understand challenges, and to make a real difference in the communities we serve.

From our founding as a teacher’s credit union, Bay Federal has continued our commitment to education. We offer annual student scholarships for members and offer a comprehensive array of solutions to support our member's financial wellness. Through online financial education course offerings, solutions for teachers and students, as well as special programs for youth, our financial wellness programs are free and available to the public. This is a small part of our work in creating thriving and vibrant communities!

We look forward to continuing our story, and hope that you will be a part of it!

Perks of Joining Bay Federal Credit Union:

• Rated #1 Credit Union to Work For by CU Journal
• Best Places to Work in the Bay Area (SF Business Times/Silicon Valley Journal)
• 11 Federal Holidays observed as paid days off
• We invest in your professional growth & development by providing access to industry standard webinars, LinkedIn Learning courses, and career tracking. We also partner with Cabrillo College for a 12 week leadership program for up and coming supervisor and manager level employees
• Mac McCormac Employee Scholarship award for $1,500 towards education expenses
• Our hybrid work approach combines the flexibility of remote working with the benefits of bi-annual in-person all staff meetings

Benefits Offered at Bay Federal Credit Union:

• 401k Matching – $1 for $1 company match up to 5% of pay
• Eligibility to participate in annual bonus plan
• Benefits Offered – Medical, Dental, Vision, Life Insurance, and Long Term Disability coverage
• Employee Assistance Program that supports 6 face-to-face sessions per person, per reason, for you and your household
• A wellness program that supports your physical, financial, and emotional health
• Supplemental benefits such as Pet Insurance and Aflac

Bay Federal Credit Union is proud to offer a competitive, robust compensation and benefits package.  Bay Federal considers many factors in determining base pay such as experience, education/training, internal peer equity, job location, and other business considerations when extending an offer. For Santa Cruz, CA only, the pay scale Bay Federal reasonably expects to pay for this position is $130,171.51  - $162,714.39 annually. Salaries are based on the geographic location in which you live if working remotely.

Bay Federal provides health care benefits, life and disability insurance, paid holidays and 401k with a company match to eligible employees; along with employee paid voluntary benefits. Paid time off is accrued per paycheck for eligible employees at a rate based on your tenure. Leaves of absences are available in adherence with state and federal regulations.

Bay Federal is committed to providing equal employment opportunity for all persons regardless of age, disability, national origin, race, color, religion, sex, sexual orientation, gender, gender identity or expression, pregnancy, veteran or military status, marital and civil partnership/union status, alienage or citizenship status, creed, genetic information or any other status protected by applicable federal, state, or local law. Bay Federal is at at-will employer. 

For CCPA's requirements regarding security practices and procedures, please see our privacy page here (https://www.bayfed.com/privacy). Bay Federal Credit Union takes our obligation to keep our member's data safe and secure and adhere to industry standard best practices

Salary : $130,172 - $162,714