Job Description

Job Description

Job Description

Title: Chief Financial Officer (CFO)

Reports to: President/ CEO

Supervises: Vice President of Accounting, Director of Finance

Status: Exempt

Objective

The Chief Financial Officer (CFO) serves as an integral member of the Executive Management Team and is responsible for shaping the overall vision, planning, and leadership of the Credit Union’s financial health. Through dynamic and hands-on involvement, the CFO participates actively in establishing and executing major goals and objectives of the Credit Union, with a focus on all aspects of financial management.

The CFO oversees accounting, asset and liability management, budgeting, capital expenditures, investments, pricing, projections, profitability, liquidity risk, and regulatory management, as well as other departments and financial systems that reflect the Credit Union’s financial position. The CFO ensures compliance with all state and federal regulations and reviews the soundness, adequacy, effectiveness, and proper application of financial controls. Additionally, the CFO leads the development and implementation of effective operational planning and directs all back-office operations related to electronic banking services, including treasury services, ACH, share draft, wire transfer, ATMs, and associated vendor relationships. The CFO also directs and evaluates the performance of the Accounting, Electronic Banking, and Finance Departments.

Duties and Responsibilities

• Develops and implements effective financial strategies, objectives, policies, and procedures for the organization
• Assists Senior Management in developing short and long-term goals and objectives
• Manages the Credit Union’s investment portfolios in conjunction with established Asset Liability strategies, while executing securities and other investment purchases within policy limitations
• Leads the Asset and Liability Committee (ALCO) as well as the Loan and Share Committees
• Serves as a member of various organizational committees including:
  • Enterprise Risk Management Committee, both at the Board and Management levels
  • Charitable Giving Committee
  • Finance Committee
  • Technology Information Security Committee
• Effectively manages Credit Union risks including loan loss reserve, compliance, profitability, interest rates, and liquidity
• Ensures the effective preparation, maintenance, and reporting of internal and external financial records and analyses
• Develops the critical financial management information to improve key business decisions
• Ensures effective and efficient operations; conducting periodic reviews of existing systems, products, and procedures; provides recommendations regarding improvements in service delivery, processes, and equipment needs, which will further the Credit Union's objectives
• Builds and sustains a highly capable and contributing leadership team consistent with the Credit Union’s culture and goals
• Establishes and maintains effective communication and coordination with Credit Union personnel, management, and the board of directors
• Ensures effective business relations with vendors, outside auditors and regulators, and with professional trade groups
• Assumes responsibility for related duties as required or assigned
• Performs all duties in a manner that is fully compliant with applicable industry regulations as well as KEMBA policy and procedures
• Develops an understanding of Credit Union history, philosophy, organization, policies, and operational procedures
• On a self-direct basis, continues to improve individual level of competency through training and certification on established educational programs
• Relates to others beyond giving and receiving instructions:
  • Communicates with coworkers or peers without exhibiting behavioral extremes
  • Performs work activities requiring negotiating, instructing, supervising, persuading, or speaking with others
  • Responds appropriately to feedback
• Performs other duties as required

Required Qualifications

• Thorough knowledge of financial and accounting practices and procedures of a financial institution
• Experience in Fixed Income Portfolio Management
• Understanding of governmental regulations and reporting requirements
• Competence in related auditing and risk management functions
• Understanding of Credit Union operations and information needs
• Ability to forecast economic trends and develop strategies to meet desired outcomes
• Ability to develop and execute plans
• Strong oral and written communication skills
• Excellent analytical abilities
• Solid organizational skills
• Effective supervisory and management skills
• Highly competent in the use of products contained within the Microsoft Office suite
• Well-developed interpersonal skills and strong ability to build and maintain effective relationships
• Commitment to ongoing professional development

Desired Qualifications

• Advanced degree, CPA and/or CMA
• Financial services industry experience

Education and/or Experience

• Bachelor’s degree in finance, accounting, or related field
• Ten or more years of related progressive experience
• Five or more years of experience as a controller or CFO
• Ten or more years of management experience
• CFA or equivalent certification

Physical Demands

The physical demands listed below represent those necessary to perform the essential functions of this role. Reasonable accommodation may be provided to enable individuals with disabilities to perform these functions.

The employee is regularly required to sit, use their hands, reach with their arms, and communicate verbally and orally. Occasional standing, walking, and lifting of objects up to 25 pounds are required. Vision requirements include close, distance vision, and focus adjustment.

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