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Chief Financial Officer

Company: Credit Union West
Location: Glendale
Posted on: September 12, 2020

Job Description:

POSITION PURPOSEResponsible for providing leadership and direction for executing comprehensive financial strategies that optimize the credit union's resources and create company-wide business plans and tactics. Leads and directs the annual budget, general ledger, accounts payable and receivable, risk management, financial audits, development of controls, asset and liability management, capital expenditures, and the investment of Credit Union assets. Assists business unit leaders to make efficient use of resources and identify opportunities for improved performance. Leads and directs investment activities to meet liquidity needs to achieve short and long-term financial health. Participates and assists the Credit Union in formulating and meeting its overall strategic plans and goals. Leads and appraises the soundness, effectiveness, and proper application of accounting and financial controls to safeguard Credit Union assets. Communicates effectively with the Board of Directors, the Supervisory Committee and other stakeholders regarding strategic recommendations, financial results, and regulations, which affect the Credit Union. Leads and directs reports detailing conclusions and providing recommendations for business improvements. Serves as a co-liaison with regulatory agency examiners and auditors. Assigns, directs, and appraises assigned staff.Demonstrates strategic leadership and takes a proactive approach to enhance the quality of life of our members/team members by meeting or exceeding their service expectations either personally or through effective supervision and coaching of subordinates and employees to ensure all responsible areas meet the required service standards. As a member of the Executive Management Team, makes appropriate recommendations, participates in establishing and implementing major goals and objectives of the Credit Union, and services as a resource in all aspects of financial management, accounting and back-office supports.ESSENTIAL FUNCTIONS AND BASIC DUTIES1. Responsible for the development and implementation of effective business planning and strategies, policies, and procedures.a. Assist the CEO and work closely with the Executive Management Team to develop short-term and long-term strategic tactics including deposit gatherings, loan diversification, product and service pricing and contract negotiations.b. Actively participates with Executive Management in developing short and long-run goals and objectives for the assigned areas and the credit union as a whole.c. Leads and develops operational plans, policies, and procedures for assigned areas which further Credit Union objectives. Executes established operational goals and ensures that institution-wide plans are complemented and supported.d. Proactively recommends prudent Asset Liability Management (ALM) tactics, interprets market and economic conditions to the ALM committee, President/CEO, and the Board.e. Serves as a member of the Administrative Committee and assists in analyzing and planning for fringe benefits, retirement benefits and aligns analytics with business prioritiesf. Directs and recommends investments including securities, loan products, loan participation, risk-based lending and other revenue sources for the credit union.g. Leads and directs analyses and forecasts within the context of how financial products and services should perform and function. 'h. Directs and establishes the annual strategy, budget, income forecasts, and goals for the credit union as part of the enterprise-wide annual planning process.i. Directs and optimizes the investment and borrowing portfolios of the Credit Union and provides recommendations to balance returns and risks.j. Leads and directs the development and implementation of financial information and control systems to provide critical financial and operational information. Evaluate assigned departments and make suggestions for automating processes and increasing working efficiency.k. Utilizes forward-looking models and activity-based analyses to provide financial insight into the Credit Union's strategic plans and operating budgets.l. Leads and assists Senior Management to formulate and develop provision for loan losses methodologies, quantitative and economic factors and policy to evaluate the adequacy of allowance for loan losses.m. Communicates effectively with the Board of Directors, the Supervisory Committee and executive management regarding strategic recommendations, financial results, and regulations, which affect the Credit Union.2. Responsible for effectively managing Credit Union risk and overall operations.a. Advices and identifies comprehensive strategies to create value across all Credit Union owned real estate assets. Engages and selects real estate professionals to lease rentable spaces and to manage leased properties.b. Provides strategic and skillful negotiation process to manage leased properties. Ensures the location, leased term and rate support the credit union's goals and objectives.c. Directs and implements appropriate goals and objectives for various risk categories including credit volume, asset quality, earning, interest rate, liquidity, operation, and product pricing.d. Leads and directs Asset Liability Management (ALM) modeling practices and methodologies to verify the appropriateness of risk monitoring and governance processes.e. Continually evaluates established policies and procedures, and updates or modifies them as necessary. Ensures that policies are in accordance with evolving regulations, legal requirements, and industry trends.f. Serves as a member of Enterprise Risk Management Committee and assists in identifying and measuring the effect of related risk factors of the Credit Union.g. Ensures and directs the implementation of internal controls and measures, policies, and procedures to protect Credit Union assets.h. Assists Executive Management in evaluating and developing a risk-based framework.3. Responsible for the effective preparation, maintenance, and reporting of internal and external financial records and business analyses.a. Oversees development and evaluation of business analytics, financial statements and reports.b. Directs and align various management information systems to meet credit union's goals and objectives.c. Directs and ensures that records and reports are in accordance with generally accepted accounting principles, financial accounting standards board, and Federal and State government regulations.d. Ensures that external document submissions and filings are accurate and timely.e. Leads and directs audits of financial records and statements.f. Oversees the development of budget plan. Directs and strategically establishing divisional and departmental budgets for each responsibility areas.g. Directs and oversees special business case studies for credit union, including competitive intelligence, business modeling, product and business line profitability, benefit and cost analyses, ratio and trend analyses, and other comparative research and comparisons.h. Oversees special investigations or examinations upon the request of Executive Management, the President/CEO, the Supervisory Committee, or the Board.4. Responsible for establishing and maintaining effective communication and coordination with Credit Union personnel and management.a. Advises and communicates regulatory updates, accounting standards revisions, and tax law changes that affect the credit union industry.b. Directs and oversees the completion and submissions of required and requested reports and analyses. Reviews and discusses annual financial audit and internal controls report with the President/CEO, the Supervisory Committee, or the Board.c. Directs and coordinates strategic initiatives with executive management including deposit retention and growth strategies, product design and product review, market and competitor analysis.d. Directs and ensures the development and implementation of effective accounting and financial management/measurement related systems consistent with new information services applications.e. Assists and supports Credit Union personnel. Responds to questions and information needs.f. Communicates with the President/CEO regularly of area activities and of any significant concerns and problems.g. Attends and participates in meetings and committees as required.5. Effectively mentors and supervises direct reports and department staff, ensuring optimal performance.a. Provides leadership to management and department personnel through effective objective setting, delegation, and communication. Leads finance management meetings.b. Mentors and develops talents for succession planning. Identifies training needs and develops programs to meet them.c. Directs and conducts performance appraisals as required. Formulates and implements corrective actions as needed.d. Provides support and resources to direct reports and assists Department personnel as needed.6. Responsible for establishing and maintaining effective business relations with vendors, outside auditors and regulators, and with professional trade groups.a. Acts as liaison with the Credit Union when working with vendors, lessors, lessees, CPAs, independent auditors and attorneys.b. Serves as a co-liaison between the Credit Union and auditors and state and federal regulatory authorities.c. Represents the Credit Union with various trade professionals and groups.d. Ensures that the Credit Union's professional reputation is maintained. Ensures that appropriate levels of security and confidentiality are maintained.7. Responsible for related duties as required or assigned.a. Stays informed of trends and changes in the accounting, mortgage servicing, construction, secondary markets, and tax fields, as well as auditing and compliance procedures, policies, and industry trends.b. Completes special projects as assigned.QUALIFICATIONSEDUCATION/CERTIFICATION:Bachelor's degree in accounting, finance, economics or related fields.Advanced degree and CPA strongly preferred.REQUIRED KNOWLEDGE:Good working knowledge of real estate related transactions and strategic negotiation skills.Excellent knowledge of financial/business analysis and investment strategy skillsExcellent knowledge of financial and accounting practices and procedures.Excellent knowledge of governmental rules and regulations.Excellent knowledge of General Accepted Accounting Principles, tax laws, government regulations and their potential impacts to Credit Union operations and information needs.EXPERIENCE REQUIRED:Ten years of related progressive management experience as CFO or similar capacity within credit unions or banks. Significant supervisory experience required. Ten+ years total accounting and finance experience.SKILLS/ABILITIES:Demonstrated leadership and supervisory abilities. Excellent written and verbal communication abilities. Excellent analytical, reasoning and problem solving skills. Strong analytical, research, and problem-solving skills. Creative and able to develop innovative solutions.. Get alerts to jobs like this, to your inbox.

Keywords: Credit Union West, Glendale , Chief Financial Officer, Other , Glendale, Arizona

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