COMPANY OVERVIEW
Due to a planned retirement, Smith & Wilkinson has been retained to manage the search and selection process for AmeriServ Financial’s next CFO.
Founded in 1901, AmeriServ Financial (NASDAQ: ASRV) is a $1.5 billion publicly traded community bank headquartered in Johnstown, Pennsylvania. Guided by a “banking for life” philosophy, AmeriServ is committed to serving clients at every stage of their financial journey through a comprehensive suite of commercial and consumer banking products and services, delivered through 16 retail branches as well as robust online and mobile banking platforms. AmeriServ places its core constituents - shareholders, clients, employees, and the communities it serves - at the center of its strategy. This strong commitment to community banking, combined with disciplined financial management and diversified client services that includes a growing wealth management division, distinguishes the organization from many peer institutions. With a long-standing presence in its markets, a stable franchise, and meaningful opportunities for continued growth, AmeriServ Financial is well positioned to build on its legacy and continue serving its communities into its next century.
CHIEF FINANCIAL OFFICER
Reporting to the President and CEO, the EVP, Chief Financial Officer will play a critical leadership role at the Bank overseeing all aspects of financial management, reporting, investments, and strategic financial planning. Leading a talented team of 10 finance professionals, the CFO will direct regulatory and SEC reporting, budgeting, asset & liability management, while ensuring compliance with accounting standards and regulatory requirements. AmeriServ’s next CFO will also serve as a key liaison with regulators, external auditors, investors, and the board of directors, providing strategic guidance on the Bank’s financial performance, capital planning, and long-term business strategy.
PRIMARY RESPONSIBILITIES
- Establish policies and procedures for an effective and efficient financial information system that meets all regulatory requirements and assists senior management in decision-making affecting the profitability and soundness of AmeriServ Financial.
- Direct and supervise all regulatory and management reporting activities for AmeriServ Financial and each subsidiary. This includes all required SEC financial reporting, regulatory reports such as the Call Report and Y-9, and all internal financial reports that are shared with senior management and the board of directors.
- Direct and supervise the asset/liability management process including all investment activities for AmeriServ Financial and each subsidiary. Chair the bank’s asset liability management committee.
- Direct and supervise the investment function for AmeriServ Financial and each subsidiary.
- Direct the preparation of all financial budgets for AmeriServ Financial and each subsidiary.
- Oversee the management of income taxes for AmeriServ Financial and each subsidiary which includes: (1) defining federal income tax strategy, (2) assuring compliance with all applicable tax regulations, (3) directing the preparation of all state tax returns, and (4) assisting independent accountants in the filing of all necessary Form 1120.
- Perform investor relations and shareholder communications as a primary AmeriServ Financial liaison and financial spokesperson to external parties. This includes working with stock analysts, investment bankers and the investment community at large.
- Serve as one of the two primary internal liaisons with the external auditor. Work to ensure that the annual external audit of AmeriServ Financial is done in an efficient manner. Serve as the primary internal spokesman on all financial reporting matters. Works with the Company’s primary federal regulators as required.
- Direct and assist in the preparation of financial, cost and profitability analyses as required.
- Serve as the Finance Department representative before the Board of Directors and all senior management committees as appointed by the Chairman of AmeriServ Financial.
- Direct and supervise the general services function of AmeriServ Financial including purchasing, procurement, and insurance risk management.
- Provide senior management with sound and timely technical advice and guidance on matters of expense control, budgeting, forecasting, financial analysis and long-range planning. Provide acquisition and divestiture analysis as needed.
- Assist in the preparation of the AmeriServ Financial Strategic Plan and Capital Plan.
- Select, develop and motivate a staff that competently and cooperatively works towards the goals of the department and AmeriServ Financial.
- Project AmeriServ Financials image in the community through active participation in local civic and professional associations.
- Perform such other duties as assigned by the President & CEO and/or the Board of Directors.
KNOWLEDGE & SKILLS
- Bachelor’s degree in Accounting or Finance.
- At least 15 years of progressive finance and accounting experience within a financial institution or with a public accounting firm with financial institution clientele.
- CPA or MBA is strongly preferred.
- Demonstrated expertise in accounting theory, regulatory requirements, and generally accepted accounting principles and tax regulations.
- Strong knowledge in economics, asset liability management, and strategic planning is required.
- Proven leader who has demonstrated the ability to inspire, motivate, and challenge members of a finance and accounting team.
- Strong interpersonal, analytical, and leadership skills.
- Excellent oral and written communication skills.
REQUIREMENTS
- Bachelor’s degree in Accounting or Finance.
- At least 15 years of progressive finance and accounting experience within a financial institution or with a public accounting firm with financial institution clientele.
- CPA or MBA is strongly preferred.
- Demonstrated expertise in accounting theory, regulatory requirements, and generally accepted accounting principles and tax regulations.
- Strong knowledge in economics, asset liability management, and strategic planning is required.
- Proven leader who has demonstrated the ability to inspire, motivate, and challenge members of a finance and accounting team. Strong interpersonal, analytical, and leadership skills.
- Excellent oral and written communication skills.
