Company
As one of the oldest independently owned community banks in the region, the bank is family owned and operated and publicly traded, offering retail banking, commercial banking and wealth management services to its clients.
Position
The Chief Financial Officer (CFO) is a key member of the Executive Committee, responsible for managing all financial aspects of the bank. This leadership position plays a crucial role in shaping the future of the Bank and will serve as a visible strategic and operational leader, driving financial success through sustainable growth. The CFO must have a forward-looking perspective on the industry. The CFO is expected to be a strategic finance leader who brings creativity and a data-driven approach to decision-making.
In addition to strong analytical abilities and financial acumen, the CFO must possess exceptional interpersonal skills for building teams, securing buy-in, and driving positive organizational change. The CFO should balance confidence and decisiveness with the equally important ability to lead and communicate with humility and respect. Lastly, the ideal candidate will bring a strong ability to influence while respecting another’s point of view.
The CFO will manage three direct reports and nine indirect staff.
Responsibilities
Financial Strategy and Planning:
- Develop and implement comprehensive financial and accounting strategies to address the current and future needs of the Bank.
- Provide financial insights and strategic recommendations to the Executive Committee and the Board of Directors.
- Lead the preparation of annual budgets, forecasts, and financial plans.
- Oversee the Bank's capital structure and manage relationships with shareholders, auditors, and regulatory authorities.
Financial Reporting and Compliance:
- Ensure timely and accurate financial reporting in compliance with relevant regulatory standards (GAAP, FASB, FRB, FDIC, OCC, etc.).
- Oversee the preparation of monthly, quarterly, and annual financial statements.
- Manage financial audits and ensure full compliance with regulatory requirements
- Develop and implement robust internal controls and procedures to safeguard the Bank's assets.
Treasury and Liquidity Management:
- Oversee the Bank's liquidity, cash flow, and funding strategies to ensure financial stability.
- Manage the balance sheet, liquidity, capital, and asset-liability management (ALM) to maintain the Bank's financial strength.
- Strategically manage the Bank's investment portfolio to maximize returns while minimizing credit and interest rate risks and ensuring adequate bank liquidity.
Risk Management:
- Identify, evaluate, and mitigate financial risks, including credit, operational, market, and liquidity.
- Collaborate with risk management teams to ensure alignment with the Bank's overall risk management strategy.
- Lead initiatives to maintain an optimal balance between risk and return in the Bank's financial activities.
Presentations:
- Prepare and deliver comprehensive financial presentations to the Board of Directors, Executive Committee, and other key stakeholders.
- Present financial reports, forecasts, risk assessments, and strategies clearly and concisely, to inform high-level decision-making.
- Lead discussions on financial performance, growth opportunities, and potential risks, offering insights that align with the Bank's strategic goals.
- Collaborate with executive leadership to ensure financial strategies are aligned with organizational objectives, providing timely and effective updates.
Leadership and Team Development:
- Serve as a member of the Executive Committee, providing leadership and direction for the Bank while actively participating in the development of its strategic plan.
- Establish and maintain positive relationships with the Board of Directors and Executive Management, offering informed recommendations on financial issues.
- Chair the Asset Liability and Investment Committee (ALCO) to oversee financial strategies and risk management.
- Lead and mentor the Controllers' team, the Human Resources team, and the Properties team, fostering a culture of excellence and continuous improvement.
- Provide leadership in developing short- and long-term financial goals.
- Collaborate with other department heads to integrate financial perspectives into business decisions effectively.
- Conduct regular coaching and staff meetings with direct reports to enhance team performance and development.
Strategic Partnerships and Community Engagement:
- Serve as a financial advisor to the CEO and the Executive Committee, providing strategic insights on financial performance and long-term planning.
- Cultivate and maintain effective working relationships with a diverse range of stakeholders, including bank employees, the Board of Directors, shareholders, regulators, auditors, vendors, brokers, and other key partners.
- Act as a liaison with external stakeholders including regulators, shareholders, and community members, to ensure effective communication and collaboration.
- Engage in community events and represent the Bank's financial interests and strengthen its presence with the community.
- Occasional travel, may include overnight trips to training events or other bank locations.
Additional Responsibilities:
- Bring a comprehensive understanding of economic trends, regulatory activity, and project the impact to organization, translating for the executive team.
- Provide financial advisory and assistance for branch expansion and contraction as well as strategic acquisitions.
Qualifications
- Bachelor's degree in finance, accounting, or related field; MBA, CFA, or CPA preferred.
- Minimum of 10 years of experience in finance, including at least 5 years in a leadership role, preferably within a banking or financial services environment.
- Experience in working with organization(s) of a similar size.
- Thorough understanding of banking regulations and financial principles.
- Demonstrated experience in treasury management, investment strategies, and financial planning.
- Proven ability to manage complex financial operations and effectively lead teams.
- Strong analytical and problem-solving skills, emphasizing accuracy and attention to detail.
- Excellent communication and interpersonal skills, with the capability to present financial information to non-financial stakeholders.
- Experience collaborating with regulators and managing audits.
- Working knowledge of computer programs and applications used for accounting and reporting.
