Chief Financial Officer Greater Madison, WI Area

Job Description

Senior VP / Chief Financial Officer

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Job Classification: Full Time

FLSA Status: Exempt

Department: Executive

Reports To: President & CEO

Job Overview

Responsible for the movement of money through our organization, identifying, mitigating, and managing acceptable levels of risk to ensure safety of the credit union and maximizing returns for security, profitability, and efficiency.

Major Tasks, Responsibilities and Key Accountabilities

• Coordinates the activities of finance and accounting through delegation of responsibilities to appropriate managers and staff.
• Analyzes data and implements improvements or changes to align with overall goals of the organization.
• Has a full understanding and ownership of all financial and accounting strategies, payment systems policies and procedures, risk management functions, and account resolutions and underwriting procedures.
• Regularly reviews and evaluates all related policies, procedures, methods to ensure we are allocating resources properly.
• Follow processes and procedures established to ensure compliance with the Bank Secrecy Act (BSA). Complete required, annual BSA training to ensure you understand your responsibilities that apply to BSA, including:
• Understanding all BHCCU’s policies and procedures, as well as all rules and regulations which pertain to BSA.
• Makes recommendations to senior management and/or Board of Directors on accounting, ALM, data processing and investment related issues, develops objectives and acts consistent with Board or Committee requests.
• Ensures the overall quality and accuracy of the general accounting and bookkeeping activities of the Credit Union including accounts payable, payroll, general ledger, and daily cash control. Ensures the integrity of general ledger, adherence to GAAP, and verifies monthly journal entries. Performs financial analysis for prudent financial management of ALM, cash flow, costing of services, and costing of departments.
• Prepares regular financial reports (P&L, balance sheet, cash flow statements, etc.) and presents to President as scheduled. Prepares annual operating budget and capital spending budget consistent with strategic plan.
• Collects data, analyzes information, prepares reports, and makes recommendations on special projects as needed or requested by President or the Board.
• Evaluates options and responsibility for deciding on day-to-day investments of Credit Union funds for adequacy of returns and security as established by policy. Recommends investment policy changes and/or enhancements.
• Serves as the Credit Union’s liaison with examiners and auditors. Assists and cooperates with auditors and examiners in reviewing financial accounts.
• Keeps abreast of market, key economic data, and regulatory changes which may impact the financial performance of the Credit Union.
• Acts as staff liaison to the ALCO (Assets & Liability Committee) and holds quarterly meetings with the committee.
• Continually searches for opportunities to enhance programs and procedures to improve operational efficiencies and productivity.
• Regularly evaluates industry standards, practices, rates, and methods to ensure we are remaining competitive in our market.
• Promotes teamwork and collaboration with all employees of the credit union; leads direct reports to foster personal and professional growth through coaching, mentoring, and training.
• Plans and conducts department meetings.
• Implements management strategies and is involved with policy decisions.
• Serves on committees as required.
• Is a member of the Senior Management Team and participates in associated meetings and planning sessions.
• Completes special projects as assigned.

Major Skills and Competencies

• Extensive experience in finance or accounting within a financial institution.
• Familiar with IT systems, such as core databases, project management software, business intelligence solutions, online databases.
• Must possess strong leadership skills, a positive attitude, and a desire to help people.
• Must have the ability to identify opportunities for financial improvement, communicate recommendations, and provide support.
• Must possess excellent verbal and written communication skills.
• Projects a professional image.

Physical Job Requirements

• Frequent periods are spent standing or sitting in the same location with some opportunity to move about; occasionally there may be a need to stoop or lift light objects (typically less than 8 pounds).
• Ability to communicate with a diverse membership and employee group.
• Ability to accomplish the described responsibilities using computers and technology.
• Ability to sit and/or stand for extended periods of time.
• Ability to work in a changing, challenging, and fast paced work environment.
• Variable stress levels.
• Provide own transportation.
• Occasional business travel.

Environmental Job Requirements

Typically located in a comfortable, quiet indoor area. There may be regular exposure to mild physical discomfort from factors such as dust, fumes or odors, temperature extremes, strong drafts, or bright lights.

Minimum Qualifications

• Pass the pre-employment credit and background check.
• Bachelor’s degree or an equivalent level of knowledge, skills, and abilities typically acquired through work experience.
• CPA license or CFA certification strongly preferred.
• Fifteen years of previous management experience, preferably in finance or accounting, at a financial institution.

Preferred Qualifications

• Previous executive level experience in a credit union.
• Extensive knowledge of banking and/or credit union regulations.