What are the responsibilities and job description for the Controller position at Westfield Bank?
Location: Seville
Manager: Jim LaRocca, Chief Financial Officer
Controller Job Summary
The Controller is responsible for the Bank’s financial records, reports, and accounting system. Maintains cash accounts, budgets, and regulatory agency and government reports. Prepares reports for top management and the Board. Ensures that there are strong internal controls over financial reporting and that all bank accounting policies and procedures are in accordance with GAAP. Prepares or directs the preparation of reports which summarize and forecast company business activity and financial position in areas of income, expenses, and earnings based on past, present, and expected operations. Oversee and manage Westfield Bank’s payroll process
Essential Functions (primary functions and/or reasons the job exists in order of importance)
- Oversees all the accounting, accounts payable, accounts receivable, and financial reporting activities of Westfield Bancorp and subsidiary companies.
- Protects Bank assets and ensures the Bank has accurate and timely recording of all transactions by implementing internal controls over financial reporting that are in place and operating effectively at all times in accordance with FDICIA and COSO requirements.
- Analyzes and interprets financial data and recommends changes to improve systems and financial performance.
- Oversees preparation of financial and regulatory reports and monitors key performance indicators for the Bank.
- Analyzes and interprets financial results and reports to senior management and the Board on a timely basis.
- Accountable for prudent management of business unit expenses. Establishes budget in accordance with corporate guidelines; manages the expenses throughout the year and provides reforecasts and variance explanations as needed.
- Participates in the strategic planning process of bank business plans and goals including preparation and monitoring of forecasts and budgets, and analysis of variances.
- Ensures regulatory and other reports (e.g., Call Report, Borrowing Base Certifications, etc.) are completed on an accurate and timely basis with appropriate agencies.
- Oversee and manage Westfield Bank’s payroll process. Manages the Payroll Specialist position and ensures accurate and timely payments on a biweekly basis. Solves for issues that arise during the processing of biweekly payroll and keeps in contact with Human Resources to understand potential hurdles or upcoming changes. Understands payroll procedures, tax regulations and compliance. Serves as a key player in making the Bank’s ERM program operate effectively. Manages business unit risk and identifies key risk areas for the Bank by evaluating magnitude and probability of the potential impact to Bank strategy, goals and business decisions. Also, identifies business opportunities to achieve the Bank’s vision and aspiration of serving its customers and communities.
- Manages the Bank’s daily liquidity needs and correspondent banking relationships.
- Manages the accounting and reporting of the securities portfolio.
- Prepares information and provides assistance with external/internal audit requests and regulatory examinations.
- Advises management on significant operational adjustments due to tax code revisions, regulatory changes, etc.
- Identifies and implements enterprise-wide cost controls.
- Interprets and applies accounting practices in accordance with GAAP.
- Performs talent management responsibilities including employee selection, performance management, coaching, and development. Manages priorities and workload distribution, and removes barriers that impede progress. Completes all personnel, salary administration, and reporting duties. Performs operational responsibilities that drive team performance including planning, execution, process improvement and best-practice sharing.
- Maintains awareness, understanding, and compliance with the Bank's internal policies and procedures, laws, and regulations appropriate for this position.
- In the performance of respective tasks and duties, the employee is expected to gain and maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and all other regulatory, security and bank policies. This includes but is not limited to the reporting of potential suspicious activity.
- Travels occasionally in order to participate in special assignments, training, and/or travel between office locations.
Desired Qualifications/Experience/Certification/Education (in order of importance)
- 5 years’ experience in a Senior Accounting, Controller or Assistant Controller, or other related position.
- Experience leading others and the ability to build strong teams.
- CPA Certification or CPA Certification in process.
- Excellent written, oral, interpersonal, and presentation communication skills resulting in the ability to interact with all levels of management and employee population.
- Advanced knowledge of Microsoft Windows and Office, including Excel and Word, or other transferable software packages.
- Experience developing, monitoring, measuring and maintaining multi-million dollar, multi-year plans and budgets.
- Proven ability to analyze, interpret, and recommend policies and procedures that drive effectiveness and efficiency.
- Strong organizational skills gained through previous work experiences
- Bachelor’s degree or commensurate experience.
- Valid driver’s license and a driving record that conforms to company standards.
Physical Requirements (specific to the role)
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
- Ability to work effectively in an office environment for 40 hours per week (including sitting, standing, and working on a computer for extended periods of time).
- Ability to communicate effectively in a collaborative work environment utilizing various technologies such as: telephone, computer, web, voice, teleconferencing, e-mail, etc.
- Ability to travel as required.
- Ability to operate an automobile within the parameters of the driving policy.
This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.
We are an equal opportunity employer/minority/female/disability/protected veteran
