A large financial institution in the Midwest is looking for a forward-thinking, results focused, and collaborative financial leader to join their team as their next Chief Financial Officer. Reporting to the CEO, this role will oversee the activities of the Accounting/Finance Department and is responsible for providing a sound and progressive financial plan for the organization. Primary responsibilities include investments, asset/liability management, and financial reporting to the Board of Directors, management, auditors and members.
Essential Functions & Responsibilities:
- Oversees all financial management functions including accounting systems, accounts payable, budgeting and forecasting, risk analytics and related reporting.
- Strategic partner to the CEO, Executive Management Team and the Board of Directors for the development and implementation of strategic business plans and goals; strives for continuous improvement with the development and application of new processes, services and technologies for better productivity and member service. Coordinates monthly updates to supporting metrics for the effective execution of related strategic commitments.
- Directs analytics for strategic financial planning and forecasting processes; leads the development of divisional operating and capital budgets; presents annual budget recommendations to the Board’s Budget Committee and oversees implementation of the approved budget; analyzes budget variances and profitability trends and recommends financial corrective actions.
- Supervises direct reports and establishes performance requirements, business targets and personal development plans for staff; monitors and evaluates their performance; provides coaching and development opportunities and finds ways to recognize performance; addresses performance deficiencies and takes disciplinary action if warranted, in accordance with policies and procedures.
- Oversees the management of its liquidity and investment decisions, considering total return concepts, regulatory requirements, market conditions and future lending needs.
- Serves as Chair of the Asset Liability and Management Committee (ALCO) and partners with external consultants for technical expert guidance and related financial analysis reports meeting regulatory requirements and compliance with Assets Liability Management policies.
- Serves as Chair of the Current Estimated Credit Losses (CECL) Committee and provides oversight of underlying systems to comply with related GAAP requirements.
- Maintains current knowledge of and ensures compliance with regulatory reporting requirements and internal policies and procedures
- Oversees the maintenance of adequate bond insurance in accordance.
- Ensures the accounting records are in compliance with Generally Accepted Accounting Principles (GAAP).
- Partners with Internal Audit as a liaison to the CPA firm during the financial statements audit, keeping the CEO informed throughout the process.
- Presents interest rate recommendations supported by analysis to the CEO.
- Completes annual updates to the capital adequacy plans, including any financial contingency plans that may be required for regulatory compliance.
- Promotes the organization by volunteering in community and special events.
- Upholds core values and develops teamwork and collaborative relationship within the organization.
Knowledge and Skills:
The successful candidate will be a visionary, emotionally intelligent with a strong desire for continuous improvement. They will also possess strong leadership and interpersonal abilities; solid organizational, analytical, and tactical skills with the ability to coordinate, manage, and direct others effectively. 10+ years of progressive finance and accounting experience in a bank or credit union and a bachelor’s degree required. MBA and/or additional certifications (e.g., CPA) preferred.
