Description:
Position Purpose: Direct and manage all practices and activities in the Finance and Accounting
functions to ensure compliance with State and Federal rules and regulations.
Manage auditing,
accounting, and recordkeeping activities of the credit union to ensure they meet generally accepted
accounting practices (GAAP).
The CFO will also be responsible for all aspects of the credit union’s
asset/liability management, including pricing suggestions and ramifications as well as forecasting
liquidity needs, developing strategies to meet these needs, and executing the strategies.
FirstCCU
engages in moderately complex funding mechanisms, so the CFO should be familiar with how these
work as well as being able to execute these trades.
In addition, the CFO will make recommendations
relating to budget preparation, income forecasts, and operational changes as needed.
Requirements:
Desired Background and Qualifications
Progressive accounting or finance experience within either a bank or credit union is a must
Bachelor's degree with either a MBA, CPA, CMA, CFA, or CTP is a plus
This is an onsite role in Beloit, WI.
Job Responsibilities
Participate in the credit union’s long and short-term strategic planning.
Oversee budget planning, preparation and administration processes to control operating expenses and achieve the credit union’s strategic direction.
Involved in approving most of the credit union's payables.
Communicates with the Board of Directors, the executive team, and management team regarding strategic recommendations, financial results and policies which affect the credit union.
The CFO will also stay informed about relevant financial institution topics, including pending legislation.
Develop, implement, and evaluate policies and procedures for the Accounting/Finance Department.
Ensure that policies and procedures reflect current regulations and are communicated to and implemented by subordinates.
Represent the credit union at external functions and attend board meetings and report on assigned areas requested by the President & CEO.
Manage direct reports to maximize productivity, efficiency, and the potential of the human assets of the credit union including: hiring, directing job assignment, monitoring staff performance, coaching, counseling, training, assuring compliance with regulatory requirement and organizational mission.
Hold periodic staff meetings.
Identify areas for improvement, changes in procedures, new developments, or changes in services.
Keep staff up to date on trends and general credit union information.
Assist with vendor negotiation and major purchasing decisions for capital equipment or other capital asset expenditures.
Monitor the credit union’s vendor management system that documents performance and renewal dates, staying proactive with upcoming contract renewals.
Essential in maintaining and optimizing net interest margin, which has remained above 3% despite a rapidly rising interest rate environment in the past 2 years.
Demonstrated ALM skills are preferred.
Serve as the credit union’s liaison with regulatory agency examiners and auditors.
Compile all aspects of the quarterly Call Report and submit it timely and accurately.
Serve as the credit union’s Asset Liability Management Committee Chair, leading the quarterly ALCO.
Involved in monthly incentive and annual bonus tracking.
The CFO would also offer insights for possible changes that would make incentives more congruent with the credit union's objectives.
Perform other duties as assigned by the President & CEO
Current direct reports include the Accounting Manager and the Director of Human Resources.
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