What are the responsibilities and job description for the SVP of Finance position at Park Community Credit Union?
PARK COMMUNITY CREDIT UNION IS AN EQUAL OPPORTUNITY EMPLOYER
Company Description:
Park Community is Kentucky’s largest Community Development Financial Institution (CDFI) Credit Union. Owned by members and focused on empowering communities, fueling dreams and fostering belonging, the organization is committed to financial inclusion and serving underserved communities to create thriving environments. Park Community envisions a world where hope, opportunity and belonging unite us all.
Park Community is Kentucky’s largest Community Development Financial Institution (CDFI) Credit Union. Owned by members and focused on empowering communities, fueling dreams and fostering belonging, the organization is committed to financial inclusion and serving underserved communities to create thriving environments. Park Community envisions a world where hope, opportunity and belonging unite us all.
Role:
By emphasizing ONE Park, ONE mission, ONE team, the SVP of Finance is focused on aligning financial
strategies to meet credit union objectives. They will direct and ensure the fiscal functions of the credit union are
done in accordance with generally accepted accounting principles issued by the Financial Accounting Standards
Board and other regulatory and advisory organizations, and are in accordance with financial management
techniques and practices appropriate with the industry. In addition, this role directs the data analysis functions of
the credit union critical to business decisions. This leader will participate in the strategic management of the
organization as a member of the Strategic Alignment Team working to achieve overall financial and
organizational success and will Chair the Credit Risk Committee, Management ALCO, and Rate Committee.
Essential Functions & Responsibilities:
- Manage the financial and accounting functions of the credit union directly or through subordinates. Ensure adherence to generally accepted accounting principles (GAAP), including preparing for impending changes in accounting standards.
- Oversee the preparation of ALM model simulation and projections, etc., ensuring timely and proper model maintenance, testing and updating of ALM software. Ensure income, expenses, profits, asset/liability growth are sufficiently projected. Ensure the model properly generates Board, ALCO reports, budgets, interest rate risk positions, etc. so Executive Management may rely on its results for decision-making. Use information from the model to recommend asset liability strategies.
- Oversee the Data Analytics Department to perform sophisticated analytics (aggregated, statistical and predictive analytics) to provide actionable insights that improve business outcomes and minimize risk. Act as a consultant to business leaders and other stakeholders on leveraging insights and building strategies around analytics. Determine the profitability of branches, departments and products. Work with the VP of Finance and the ALM Analyst to oversee the budget process, ensuring all growth strategies, projects, depreciation, interest rate forecasts, etc. are sufficiently included. Monitor budget variances on an ongoing basis and provide the CFO with analytical breakdowns. Perform ongoing yield analysis, including explanation of material variances.
- Participate in the development of the credit union’s financial goals and objectives. Oversee liquidity, investment strategies, etc. which support the credit union’s goals and objectives. Chairs Credit Risk Committee, Management ALCO and Rate Committee.
- Develop/enhance department’s policies and procedures to ensure a strong internal control system; Ensure the finance department follows best practices. Work with regulatory agencies and CPA firms as directed by the Chief Financial Officer (CFO) regarding auditing the financial records of the credit union; work directly with the CFO to provide evidence of financial stability and sound practices.
- Hire, train, direct, coach and develop employees to accomplish the objectives required of the department. Provide timely feedback; evaluate performance as required; make recommendations regarding department structure to ensure efficient process.
- Performs other job related duties as assigned.
Performance Measurements:
1. To be an ambassador of Park's culture supporting the credit union's mission to build thriving communities together ensuring words and actions align with the Park VIBE that defines our Core Values:
3. To meet or exceed operational objectives as set forth in annual budget.
4. To maintain a cohesive, highly trained and motivated staff, sufficient to meet the needs of the Credit Union.
5. To maintain acceptable risk & internal control standards.
6. To monitor, report on and address trends relevant to the financial industry.
7. To develop recommendations for cost efficiencies and enhancements to products, pricing, and processes by monitoring trends in operations.
8. To maintain a professional work environment, promote teamwork, build respect among coworkers and present a businesslike appearance.
9. To follow all security policies and procedures and report discrepancies or suspicious activity to manager immediately.
1. To be an ambassador of Park's culture supporting the credit union's mission to build thriving communities together ensuring words and actions align with the Park VIBE that defines our Core Values:
- Vibrant Connections
- Inclusive Excellence
- Bold Compassion
- Endless Empowerment
3. To meet or exceed operational objectives as set forth in annual budget.
4. To maintain a cohesive, highly trained and motivated staff, sufficient to meet the needs of the Credit Union.
5. To maintain acceptable risk & internal control standards.
6. To monitor, report on and address trends relevant to the financial industry.
7. To develop recommendations for cost efficiencies and enhancements to products, pricing, and processes by monitoring trends in operations.
8. To maintain a professional work environment, promote teamwork, build respect among coworkers and present a businesslike appearance.
9. To follow all security policies and procedures and report discrepancies or suspicious activity to manager immediately.
Knowledge and Skills:
- Experience Eight to ten years of similar or related experience.
- Education (1) A master's degree, or (2) a bachelor's degree plus professional certification (e.g., CPA).
- 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
1. Requires a degree in Business Administration, Finance, or Accounting.
2. Excellent analytical skills, people skills, and self-direction are required.
3. Must be proficient with PC accounting, spreadsheet, and word processing software.
4. Background in bank data processing systems preferred.
2. Excellent analytical skills, people skills, and self-direction are required.
3. Must be proficient with PC accounting, spreadsheet, and word processing software.
4. Background in bank data processing systems preferred.
Physical Requirements
WORK ENVIRONMENT: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this position. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform
the essential functions. While performing the essential duties of this position, the employee is regularly exposed to a general office environment and interaction with customers.
PHYSICAL DEMANDS: The physical demands described here are representative of those required to successfully perform the essential functions of this position, but do not necessarily constitute an exhaustive list of all essential functions. To the extent required by any applicable law, reasonable accommodations will be made to enable qualified individuals with disabilities to perform essential functions where this can be done without posing a direct threat to self or
others. While performing the essential duties of this position, the employee frequently must sit, stand, and walk short distances. The employee frequently uses hands and fingers to count currency and handle, manipulate, and feel objects, documents, and office tools and equipment. Reads, writes, listens, speaks, and uses personal computers, copiers, telephones, and other office equipment and software throughout the work day. The employee is occasionally required to stoop, bend, squat, and reach overhead with hands and arms. Occasionally pushing and pulling of office furniture and other objects. The employee may occasionally lift and/or move up to 15 pounds and on occasion lift and/or move up to 25 pounds.
WORK ENVIRONMENT: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this position. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform
the essential functions. While performing the essential duties of this position, the employee is regularly exposed to a general office environment and interaction with customers.
PHYSICAL DEMANDS: The physical demands described here are representative of those required to successfully perform the essential functions of this position, but do not necessarily constitute an exhaustive list of all essential functions. To the extent required by any applicable law, reasonable accommodations will be made to enable qualified individuals with disabilities to perform essential functions where this can be done without posing a direct threat to self or
others. While performing the essential duties of this position, the employee frequently must sit, stand, and walk short distances. The employee frequently uses hands and fingers to count currency and handle, manipulate, and feel objects, documents, and office tools and equipment. Reads, writes, listens, speaks, and uses personal computers, copiers, telephones, and other office equipment and software throughout the work day. The employee is occasionally required to stoop, bend, squat, and reach overhead with hands and arms. Occasionally pushing and pulling of office furniture and other objects. The employee may occasionally lift and/or move up to 15 pounds and on occasion lift and/or move up to 25 pounds.
