GENERAL SUMMARY
The Chief Financial Officer is responsible for all of the bank’s fiscal operating results utilizing generally accepted accounting principles, such as cost accounting, budgets, regulatory agency and government reports, ensuring the safeguard of Bank assets. Counsels senior management on fiscal control and profitability; prepares, presents and interprets financial reports to senior management; adheres to tax laws and regulatory compliance to properly reflect the financial position of the Bank. Directs accounting department activities; provides leadership, training and supervision within the department; and provides a high level of customer relations and service. This position assists in attaining established Bank and department financial goals. Performs supervisory duties of department staff, coordinates staff for coverage in all related areas of the department. Directs bank business to maximize profits and return on capital by charting the financial direction of the bank, managing the bank’s investment portfolio, and assisting the President in achieving goals of profitability, safety and soundness, and community involvement. This position can also serve as a Branch Manager and is responsible for branch development. Work is varied in nature with changing priorities. This position requires a high degree of initiative, discretion and judgment. Incumbent applies advanced knowledge of Bank products, services, operations, and regulatory laws to work performed. Works under direction of the President & CEO and assures compliance with all bank policies and procedures as well as all applicable state and federal banking regulations including the Bank Secrecy Act.
ESSENTIAL FUNCTIONS
Administrative:
-Develops and directs the overall financial policies of the bank. This includes the design, implementation, and promotion of financial discipline within the organization. Reviews, develops and implements accounting procedures and concepts to ensure compliance with laws, regulations and internal policies that depend on accurate and timely filing of financial reports and accounts.
-Identifies and recommends revisions of internal standards, policies, operating procedures, and new programs in assigned areas to improve efficiency including the administration of objective measurement analyses of staff requirements and performance. Coordinates revenue enhancing and cost reduction programs.
-Works with the Board, CEO, and top management to develop long-term strategic plans to meet the organization’s goals. This includes evaluating and assessing the economic and financial impact of business decisions on the organization.
-Supervises the development and implementation of the bank’s financial plan and budget (short-and long-term).
-Provides the CEO and Board the information necessary to maximize profits, minimize operational costs and protect bank assets.
-Administers the bank’s investment portfolio:
-Keeps abreast of financial markets for both profit planning and special analyses.
-Makes investment recommendations on the purchase and sale of securities to Executive Management.
-Directs the purchases and sales of securities and corporate bonds.
-Actively monitors the security and bond portfolio.
-Performs month-end pricing in conjunction with Investment Accounting.
-Performs quarterly portfolio reviews and prepares written reports on assigned issuers or industries.
-Handles money market operations and management of the bank’s cash and liquidity position.
-Obtains the maximum use of available funds at minimum cost to the bank in its cash position.
-Oversees the bank’s accounts with other banking institutions, including the reserve account at the Federal Reserve Bank.
-Coordinates overall asset and liability management efforts.
-Assists with the bank’s new business development program.
-Coordinates major expenditures and non-lending commitments.
-Communicates with regulators and auditors ensuring compliance.
-Provides supervision of and support to all assigned areas of branch operations where service or assistance is needed, overseeing activities of accounting, information technology, tellers, retail banking, and other operations personnel, opening and closing the branch.
-Ensures audit compliance and procedure quality control through the branch operational review; conducting unannounced audits of all branch cash funds and cash limits; ensuring the branch’s compliance with bank policies, procedures, and statutory regulations.
-Promotes business development and maintains deposit services, credit administration (if necessary), community relations and all other branch operations.
-Performs other duties as assigned by President & CEO/CLO.
KNOWLEDGE, SKILLS & ABILITIES
-Minimum three (3) years’ banking experience in position of CFO at a financial institution.
-Minimum two (2) years’ supervisory experience with ability to assist in resolving customer complaints or other issues not resolved by staff.
-Minimum three (3) years’ experience in investment portfolio management including extensive background in analyzing and researching individual securities, mutual funds, alternative investments, etc.
-Extensive knowledge of products and services, such as investment strategies, industry trends, current events, etc.
-Some formal credit training may be required when executing duties as Branch Manager or in the Lending area.
-Advanced analytical and problem-solving skills.
-In-depth knowledge of banking operations, products/services, and government laws and regulations.
-Advanced PC skills including word processing, databases, spreadsheet applications and internet applications.
-Demonstrated ability to work in a pressure-oriented environment
-Advanced written, oral and interpersonal skills with ability to interact with Board of Directors, Executive Management, and all departments of the bank.
This level of knowledge is normally acquired through completion of at least a 4-year college degree from an accredited university in Accounting or Finance (master’s degree and/or CPA designation preferred). Continued training in assigned fields is required. Experience in a high-volume atmosphere is desired but may be reconsidered if other circumstances apply.
