Chief Financial Officer

Description

Job Summary:

Responsible for overseeing financial reporting accuracy and risk management across all financial areas. Member of Senior Leadership Team, contributing to goal setting and implementation. Manages budgeting, accounting, risk, and investment activities ensuring compliance with regulations and GAAP. Reports to key stakeholders, including the Board and regulators. Conducts financial analysis, participates in process improvement, and serves as Bank Secrecy Act Compliance Officer. Maintains expertise in NCUA Rules and Regulations and ensures Accounting Department aligns with Credit Union goals efficiently.

Positions Supervised:

AVP of Accounting

Duties/Responsibilities:

Financial Analysis, Accuracy, and Communication

Maintains financial accuracy and transparency, while conducting analyses to inform decision making.

Assumes responsibility for managing the credit union’s financial health and risk by overseeing asset-liability management, budgeting, and reporting. 

Ensures accurate internal and external financial record-keeping and reporting. Conducts specialized studies, including cost analyses and trend examinations to identify and analyze financial trends.

Ensures that records and reports are in accordance with generally accepted accounting principles (GAAP) and government regulations.

Budgeting and Cost Control 

Oversees the annual budgeting process and control costs to optimize financial performance.

Leads the annual budgeting and planning, presenting operating budgets to the Board of Directors. 

Analyzes monthly budget variances, provides updated forecasts, and communicates results and assumptions to the Senior Leadership Team for integration into planning processes.

Compliance and Regulation

Ensures compliance with legal and regulatory standards, including adherence to NCUA Rules and Regulations.

Tracks regulatory changes and updates Credit Union policies accordingly.

Evaluates and adjusts policies regularly to align with evolving regulations and industry standards. 

Coordinates audits with the Supervisory committee, ensuring timely resolution of findings.

Leads the Asset-Liability Management Committee (ALCO), makes strategic recommendations for the balance sheet. 

Ensures accuracy and timeliness of external submissions and responsibility as the Bank Secrecy Act Compliance officer.

Financial Technology and Systems

Implements and manages financial systems and technology solutions to streamline processes, enhance efficiency, and improve data accuracy.

Supervises the development and implementation of financial information and control systems, including general ledger, cost accounting, and other subsystems.

Interfaces with Information Systems personnel in the development and implementation of efficient accounting procedures consistent with new information systems applications.

Team Leadership 

Provides direction, guidance, and mentorship to finance and accounting teams. 

Ensures partners have the necessary resources and support to fulfill their roles. 

Engages with industry groups to stay updated on emerging trends, best practices, and regulatory changes in accounting and finance.

Ensures effective working relationships exist with other credit union departments. 

Operational Excellence

Executes established operational goals and ensures that organization wide objectives are complemented and supported.

Provides suggestions for improvements in policies and procedures.

Supports staff in finding process improvements.

Optimizes existing systems and procedures to ensure efficiency.

Creates key measures and manages staff performance to meet organizational goals.

WCCU/TCCU Values

Maintains and projects the Credit Union’s quality reputation.

Stays informed of trends and changes in the field.

Assumes responsibility for ensuring that professional business relations are established and maintained with customers, the community, and professional contacts.

Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.

Ensures that the work area is clean, secure, and well maintained. The desk area is secure in accordance with the Clean Desk Policy. 

Requirements

Required Skills/Abilities:

Strong written and verbal communication skills.

Strong organizational skills.

Keen analytical abilities.

Understanding of credit union operations.

Education and Experience:

Bachelor’s degree and over seven years of related experience; or equivalent combination of education and experience. 

Over ten years supervisory experience required.

Seven to ten years of progressive experience in the credit union environment.

Physical Requirements:

Talking: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

Average Hearing: Able to hear average or normal conversations and receive information.

Repetitive Motion: Movements frequently and regularly require using the wrists, hands, and/or fingers.

Average Visual Abilities: Average, ordinary, visual acuity necessary to prepare or inspect documents or products or operate machinery.

Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally.