CFO

JOB TITLE: Chief Financial Officer

REPORTS TO: CEO

DEPARTMENT: Operations

Purpose:

The CFO establishes, coordinates, and maintains the accounting and financial systems of the Bank, and its holding company.  The CFO develops relevant policies and procedures related to their area of responsibility. The CFO is responsible for four functional areas including Accounting, Funds Management, Financial Reporting, and Administration.  These areas encompass accounting systems, account reconciliation, financial reporting, regulatory reporting, tax compliance, cost accounting, financial analysis, purchasing, risk management, liquidity, a/l management, accounts receivable, accounts payable, and ancillary administrative services.

            In addition to the specific duties listed below, the CFO performs all other related duties as assigned. The listed duties will include but are not limited to

Essential Duties:

• Improve processes within their area of responsibility.


• Maintains the integrity of the accounting system along with best practices.


• Responsible for the timely preparation of fiscal and regulatory financial reports.


• Responsible for remaining current on GAAP, regulatory, and tax accounting issues.


• Work with senior management in the development of a strategic plan document, budgets, and forecasts along with action plans to achieve stated objectives and goals.


• Responsible for the preparation, verification, and accuracy of monthly Performance Statements in accordance with agreed upon performance standards.


• Responsible for preparation, verification, and accuracy of overall financial reporting in accordance with agreed upon performance standards.


• Perform key financial stress tests on a periodic basis. Report on results to management and the Board.


• Responsible for managing the ALCO process and preparing key reports.


• Primary responsibility for cost control through monitoring, challenging, and consulting.


• Responsible for negotiating vendor contracts.


• Responsible for maintaining the Stakeholder and other performance measurement systems.


• Responsible for recommending and maintaining appropriate risk insurance coverage.


• Interprets financial reports as to exceptions, variances, trends, etc.


• Ability to communicate effectively with external auditors and regulators.


• Responsible for supervising the Funds Management activities and working with the ALCO committee in setting policy and associated activities and reports with the investment portfolio.


• Evaluate current practices and strategic alternative in setting objective and developing mechanisms to monitor and manage related risks to mitigate various risks to assure ongoing business continuity.


• Facilitate effective response to interrelated impacts and integrated responses to multiple risks.


• Endure effective reporting and compliance with laws and regulations


• Work to create a culture that understands risk and risk-management practices through educational programs and training process for members of the Board, management, and entity-wide personnel.

Job Requirements:

Knowledge, Skills, and Abilities:

• Possess an in-depth knowledge of regulatory issues.


• Possess an in-depth knowledge of investments and the asset/liability management process.


• Demonstrates the ability to understand computer systems.


• Possesses a high degree of interpersonal and organizational skills.


• Possesses the ability to communicate effectively, both orally and in writing.


• Possesses the ability to supervise and direct the work activity of others.


• Other areas of the Bank that may include lending and administration.


• Strong knowledge of the best practices of risk management

Competencies:

• Business Acumen


• Integrity & Trust


• Managing & Measuring Work


• Process Management


• Drive for Results

Experience Requirements:

• Eight to ten years’ work experience.


• Five to seven years of bank-related experience, or equivalent

Education/Training Requirements:

• Master’s degree, CPA, or CMA, or equivalent work experience.


• Maintains job proficiency and professional licensure through attendance to periodic seminars, training sessions, and other career enhancing activities.

Computer Skills/Equipment Used:

• General office equipment (computer, printer, fax, copy machine), scanner, adding machine, calculator.

• Computer knowledge in a Windows environment.


• Basic knowledge of Microsoft Outlook, Excel and Word.

Physical Abilities:

• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of this job, the employee is regularly required to talk, hear, stand and use hands to grasp, manipulate or feel objects. The employee is frequently required to walk, and occasionally required to sit, stoop, kneel, crouch or crawl, climb or balance and reach with hands and arms.


• May be required to lift, carry or move and position items weighing up to 25 lbs. as necessary.


• Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception, and the ability to adjust focus.


• Requires daily work on a computer for 6 hours or more viewing the screen and fingering the keys.


• Ability to move about the branch to access file cabinets, office machinery, etc.


• Able to work in a fast-paced, multi-tasked environment.