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Chief Financial Officer

Company: Truliant Federal Credit Union
Location: Winston Salem
Posted on: September 12, 2020

Job Description:

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Job Title

Job Description

Purpose of the Job

The Chief Financial Officer is responsible for organizing, planning and directing the strategic activities of the following areas: Financial Analysis & Risk, Accounting, Electronic Funds & Payment Processing, Purchasing, Card and ATM Services, and Electronic Fraud Management. The Chief Financial Officer is responsible for setting Truliant’s financial policy and direction while also being an active participant in the organization’s overall strategy. The CFO will lead all financial administration, accounting, and budgeting initiatives and operations. As a member of the Chief Planning Team, the CFO will assist in developing and implementing short-term and long-term financial, operational and strategic business goals.

Essential Functions and Responsibilities

Serves as a member of the Chief Planning Team (CPT) to direct the financial strategies of the Credit Union through active participation with Senior Management.

Provides financial projections and analysis as needed to the President/CEO, Chief Planning Team and Board of Directors.

Oversees the Credit Union budgeting process and maintains and monitors annual business plan financial targets.

Assures that appropriate financial and pro forma reporting is made in a timely fashion to the Board and Chief Planning Team (CPT) and Senior Management Team (SMT).

Ensures compliance with all generally accepted accounting principles (GAAP) and all applicable National Credit Union Administration (NCUA) rules and regulations.

Serves as a member and Chair of the Credit Union’s Asset/Liability and Pricing Committee (ALCO).

Ensures that ALCO meets regularly in order to address ALM issues in a timely manner.

Provides analysis and information to ALCO on a weekly basis to facilitate effective ALM decision-making.

Maintains and periodically updates the Credit Union’s asset/liability management (ALM) model and reports results to CPT and the Board of Directors.

Evaluates and recommends updates and amendments to the Credit Union’s Asset/Liability Management and Interest Rate Risk Policy.

Based on reporting from Risk Management, evaluates credit, interest rate, liquidity, continuity and other significant potential risks making recommendations to the President/CEO, CPT and Board to manage risk while achieving business plan goals.

Works with investment brokers and dealers to gather data necessary for quality investment recommendations.

Works with President/CEO to manage the investment portfolio in conjunction with business plan and strategic goals.

Evaluates and recommends updates and amendments to the Credit Union’s Investment Policy such as investment type and broker changes.

Serves as a trustee of the Truliant Federal Credit Union defined benefit Pension and 401(k) Plan.

Serves as a voting member on the MBLC Committee.

Maintains a strong understanding of balance sheet management tools including arbitrage, derivatives and asset sale/purchase transactions with the ability to communicate the risks and value as related to the Truliant business and strategic objectives.

Serves as management liaison to external auditors and provides financial statements and footnotes appropriate for obtaining an opinion audit of the Credit Union and its subsidiary.

Provides data and input to facilitate the regulatory examination process, in particular the asset/liability management, liquidity, troubled debt restructuring and investment components.

Assures that appropriate financial reporting is made in a timely manner to the Board of Directors, Senior Management, and branch and department managers. Reports to the Board of Directors monthly on the status of financial results, especially funds management targets.

Responsible for the strategic direction of electronic fraud prevention strategies within the various systems that will identify ATM, credit, and debit card fraud, ACH fraud, and electronic services fraud. Responsible for the strategic direction of investigation & recovery of fraud loss and the identification of fraud trends.

Leads Card Services Operations Manager to ensure smooth operations of the Card Services department.

Leads ATM Services Manager to ensure smooth operations of the ATM Services department.

Provides direction as needed and supports any development, implementation, and maintenance of credit card, debit card and any future card programs.

Lead the Functional Data Liaison in their role as part of the Data Analytics initiative

Serves as treasurer of Truliances, LLC, the Credit Union’s credit union service organization (CUSO).

Gives input and analysis in the formation of annual updates to the Credit Union’s Strategic Plan and Business Plan.

Provides financial projections and analysis as needed for specific purposes such the evaluation of the viability of new branch locations and mergers.

Serves as a member of the Credit Union’s Investment Committee.

Actively promotes the mission of the Credit Union within the organization and throughout the communities served by the Credit Union.

Other Duties and Responsibilities

Assists with other tasks and projects as assigned.

Knowledge, Skills, and Abilities

Must have sound understanding of accounting procedures and concepts, including investments and functional cost theory

Must have a thorough understanding of NCUA guidelines and regulations

Must be competent in asset/liability management and interest rate sensitivity

Must have excellent communication skills in English, both verbal and written

Must have advanced skills in MS Excel, including macros

Must have sound understanding of Financial Information Systems

Strong analytical skills required

Strong managerial and administrative skills required

Must have ability to make decisions and work independently

Must be able to motivate employees and build effective teams

Must be able to evaluate systems and procedures, implementing efficiency enhancements

Must have ability to understand all business processes within the credit union

Must be detail oriented and well organized

Must be flexible and able to shift resources and priorities as required

Must have ability to generate and analyze research data including a working knowledge of appropriate financial analysis techniques

Must be able to work in a general office environment

Should possess a strong commitment to providing excellent service to Truliant’s members

Physical Requirements

Occasional standing, walking, bending, and stooping required

Must be able to sit at a desk for long periods of time and use a computer

Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds

Education and Background

Bachelor’s Degree ( with preference in Accounting, Finance, or Business), or equivalent work related experience required; MBA, CPA, or CMA required

Must have a minimum of 10 years’ experience in financial reporting, budgeting, and functional cost, preferably in financial services

Minimum of 10 years management experience required, 5 years of which in a senior management role

Previous exposure to non-accounting functions, financial products and services and their relationships to accounting preferred

A strong working knowledge of the fundamentals of the financial industry required

Location Corporate Headquarters - Winston Salem, NC 27103 US (Primary)

Category

Management

Job Type

Full-time

v16.1.4

Last sync: 2020-08-27 09:35:03

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Keywords: Truliant Federal Credit Union, Winston-Salem , Chief Financial Officer, Other , Winston Salem, North Carolina

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