Chief Financial Officer

Verity is hiring a Chief Financial Officer at our Seattle, WA Headquarters location. This is a hybrid position; or has the opportunity to be worked remotely in the states of AZ, CA, FL, GA, IL, MT, SC, TX or WA only. At Verity, we empower our member’s financial lives and create vibrant communities. Since 1933, Verity has been a local member-owned credit union. We are also the only financial institution in the Pacific Northwest that is a part of the Global Alliance for Banking on Values (GABV).

How you can make a difference

The Chief Financial Officer is responsible for strategic leadership, strategic implementation, and the ability to oversee and ensure the correct filing of reports, perform risk modeling, and the ability to manage the balance sheet, investment portfolio, and budget. This position will also perform the critical important role of recording of value, so it is accurate and undisputable.

The key to success in this position is an understanding of the industry, membership and board needs and the complexity of external factors as well as the ability to present to the board, initiate collaborative dialogue and keeping the CEO and others well informed.

We know it is more than just a job

Verity has continued to maintain an open and positive work culture. We make sure people come first! Some ways we help employees live their best lives:

• Base Pay: This position has a salary range of $225,650 (minimum) to $376,083 (maximum), with a midpoint of $300,866. Starting pay is offered based upon an applicant’s experience and education relevant to the position.

• Paid Time Off: This position qualifies for unlimited PTO
• Benefits: Both full and part time employees (and their family) are eligible for medical, dental, vision, and basic life insurance, with a no cost option available for employee only coverage! Employees have the option to enroll in our 401k plan and receive an employer match up to 6%.
• Other Benefits:This position is eligible for annual bonuses up to 20% based on company performance.
• Great Perks: Other Verity benefits include a wellness subsidy, a transportation reimbursement benefit and education reimbursement.

ESSENTIAL JOB FUNCTIONS

Financial Strategy & Budgeting

• Management of the ongoing budget process in the context of a multi-year financial plan.
• Profit management, which includes the ability to integrate the budget process and balance sheet optimization.

Asset & Investment Management

• ALM (Asset Liability Management), liquidity modeling, and management.
• Deposit modeling.
• Investment management, which includes an investment portfolio of MBS, Treasuries, and Agencies.

Strategic Financial Leadership

• Serve as a key member of the executive leadership team, contributing to strategic planning, business development, and long-term financial growth initiatives.
• Establish and monitor annual financial objectives that align with organizational goals.
• Provide financial insights and forward-thinking analysis to support business decisions.
• Lead and oversee interest rate risk management, liquidity planning, and investment strategies.
• Manage the institution’s capital structure, ensuring optimal liquidity, risk management, and compliance with regulatory requirements.

Financial Planning & Analysis

• Oversee financial forecasting, budgeting, and cash flow management to maintain financial stability.
• Develop financial models and reports to track key performance metrics, proactively identifying cost efficiencies and revenue enhancement opportunities.
• Evaluate and optimize banking relationships, investment strategies, and financial partnerships.
• Provide technical guidance to business units regarding project budgeting, forecasting, and expense management.

Accounting, Compliance & Risk Management

• Ensure compliance with GAAP, NCUA regulations, and federal/state financial reporting requirements.
• Develop and maintain strong internal controls to safeguard assets and mitigate financial risks.
• Oversee all financial audits, including regulatory, internal, and external audits, ensuring accuracy and timeliness.
• Ensure proper documentation and timely payment of all liabilities, including taxes, payroll, and operational expenses.
• Supervise the preparation and communication of accurate and timely financial statements for the Board of Directors and regulatory agencies.
• Serve as the primary liaison with auditors, government agencies, and investment advisors.

Investment & Asset Management

• Direct the management of the investment portfolio, ensuring regulatory compliance and optimal returns.
• Monitor market trends and interest rate movements to provide data-driven recommendations for investment and lending strategies.
• Approve fund transfers and investment decisions within established guidelines, collaborating with the CEO and Board’s Investment Committee.
• Ensure sufficient liquidity to meet operational and strategic needs while optimizing capital deployment.

Leadership & Team Development

• Hire, train, and mentor Accounting and Risk & Compliance teams, fostering a culture of continuous improvement and professional development.
• Conduct performance evaluations, recommend salary adjustments, and provide coaching to support team members in achieving their potential.
• Oversee staff development initiatives, ensuring adherence to best practices and industry standards.

Technology & Process Optimization

• Supervise the implementation of financial software, reporting tools, and automation to enhance efficiency and data accuracy.
• Lead process improvement initiatives to streamline financial operations, reduce costs, and improve service delivery.
• Ensure integration and optimization of accounting, risk, and investment management systems.

Board & Executive Reporting

• Present financial reports, forecasts, and risk assessments to the CEO, Board of Directors, and Investment Committee.
• Serve as the primary financial advisor to the Board, providing guidance on financial strategies, risk mitigation, and regulatory compliance.
• Lead discussions on financial policies, investment strategies, and capital allocation decisions.

Other Executive Responsibilities

• Act as a dynamic contributor, taking on additional leadership responsibilities as assigned by the CEO.
• Engage with external consultants, auditors, and regulatory agencies to ensure compliance and financial health.
• Represent the institution at industry events, conferences, and stakeholder meetings.

• Other duties as assigned.

QUALIFICATIONS AND REQUIREMENTS

Education and Experience

• Bachelor’s degree in Finance or Accounting required.
• Master’s degree and/or CFA certification preferred.
• 5 to 7 years as a VP Finance or CFO preceded by 7 to 10 years of evolving relevant experience and expertise.
• Financial institution experience or finance professional with experience in a commercial business that has managed complex businesses.
• Proven expertise in balance sheet management, investment strategies, enterprise risk, profitability and strategic planning.
• Demonstrated strategic planning and high---level visionary and leadership experience.
• Excellent communication, presentation and interpersonal skills with the ability to partner at all levels of the organization.
• Solid strategic business acumen and extensive analytical skills with the ability to rapidly assimilate complex information.
• Ability to handle the day---to---day executive financial responsibilities and be a high performing member of the executive team.

Knowledge, skills and abilities

• Strategic Leadership and Vision: Provides clear financial leadership and strategic direction, ensuring Verity’s financial health and sustainability. Guides financial planning, investment strategies, and capital management to align with the credit union’s mission and long-term objectives.
• Communication and Change Management: Leads financial and organizational change with confidence, fostering alignment across executive leadership and teams. Uses strong emotional intelligence and financial acumen to communicate complex financial concepts clearly, driving collaboration and consensus-building.
• Risk and Compliance Management: Develops and implements financial risk management strategies, ensuring full compliance with state and federal regulations. Establishes robust financial controls, policies, and reporting mechanisms to safeguard Verity’s assets and maintain regulatory integrity.
• Innovation and Financial Technology: Leverages financial technology, data analytics, and automation to optimize financial processes, improve operational efficiency, and enhance member services. Drives innovation in financial products, ensuring strategic growth and long-term financial sustainability.
• Community and Member Impact: Champions financial solutions that reflect Verity’s commitment to social responsibility and financial inclusion. Engages with community partners to drive financial literacy initiatives and create accessible banking solutions that meet evolving member needs.
• Relationship Management: Builds and maintains strong relationships with internal and external stakeholders, including board members, regulatory agencies, investors, and financial institutions. Collaborates across departments to ensure financial strategies support operational and member service goals.
• Policy Management and Continuous Improvement: Oversees the development, implementation, and continuous refinement of financial policies and procedures. Ensures alignment with strategic goals, industry best practices, and regulatory requirements while fostering a culture of accountability and continuous learning.
• Market and Industry Insight: Stays informed on economic trends, regulatory changes, and industry best practices to proactively adjust Verity’s financial strategy. Provides executive leadership with actionable insights to navigate market shifts and maintain a competitive advantage.
• Leadership and Talent Development: Mentors and develops high-performing financial teams, fostering a culture of excellence, accountability, and professional growth. Ensures staff is equipped with the skills and knowledge to execute strategic financial initiatives effectively.
• Financial Acumen: Demonstrates deep expertise in financial management, including asset-liability management (ALM), liquidity planning, investment portfolio oversight, and interest rate risk analysis. Utilizes financial data to drive informed decision-making and ensure the credit union’s financial stability.
• Ethics and Integrity: Upholds the highest ethical standards in financial reporting, governance, and compliance. Promotes transparency, accountability, and fiscal responsibility to protect Verity’s reputation and ensure trust among stakeholders.
• Technology Proficiency: Leads financial digital transformation efforts, ensuring the adoption of cutting-edge financial tools, automation, and reporting systems. Continuously adapts to emerging technologies to drive efficiency and enhance financial operations.

PHYSICAL CONSIDERATIONS

Verity is committed to reasonably accommodating the physical aspects of the position. The following are normally encountered in this job:

Verity is committed to reasonably accommodating the physical aspects of the position.  The following are normally encountered in this job:

• Effectively communicate with diverse staff, members, and vendors
• Ability to travel within a assigned market

Working Conditions

• Sitting or standing for long periods of time
• Working on computers for a long period of time in an office environment

Washington is an At-Will Employment State

Your employment is at will, meaning you are free to resign at any time, for any reason, with or without notice. Verity Credit Union is also free to conclude the employment relationship with you at any time, for any reason, with or without notice.

No statement or promise by a credit union representative or board member may be interpreted as a change in the at will policy, nor would it constitute an employment or other contractual agreement.

Salary : $225,650 - $300,866