Chief Financial Officer

3 weeks ago


Lowell, United States Align Credit Union Full time
Job DescriptionJob Description

Role:

To direct, oversee and coordinate a broad range of activities toward achieving the Credit Union's financial objectives, in accordance with policies established by the President/CEO and the Board of Directors. Responsible for effective operation of financial reporting, investment securities management, Interest Rate Risk and accounting functions. Serve as advisor to President/CEO and Chief of Risk and to report to the Board of Directors monthly on the financial results of the Credit Union as well as all phases of the investment securities portfolio, funding (daily cash management) and interest rate risk analysis; Make recommendations regarding improvements to existing policies, procedures, and strategies. Remain observant and informed of the external economic environment and create plans and/or recommendations reflective of the Credit Unions financial objectives.

Work with the internal/external Risk Area to maintain ratings on Regulatory Safety and Soundness Exams.

Be a major influencer and collaborator with Regulatory Agencies and Auditors, especially during examinations and Audits, respectively.

Essential Functions & Responsibilities:

Oversee the Financial Reporting function of the company to all parties including the Board of Directors, Senior Management, Regulatory Agencies, employees and to members. This includes all financial reporting within and outside of the company.

Direct and supervise the credit unions financial performance through direct oversight of Investment securities strategies and accounting area. Safeguard credit union financial assets through internal controls. Ensure appropriate cash flow to meet organizational objectives. Responsible for overall financial health of credit union through examining risk, liquidity, interest rate changes and market conditions while sustaining adequate capital structure. Maintain compliance with all state and federal regulations as well as Align Credit Union policies and procedures.

Oversee Asset/Liability Management, GAP, NEV and interest rate risk sensitivity reporting, net interest income simulation, yield analysis, and off-balance sheet hedging strategy. Present financial performance to ALCO/Senior Management as the Chair of the committee. Work in a collaborative environment with stakeholders to augment overall credit union performance. Collaborate and coordinate with consultants on all relevant issues concerning interest rate risk.

Participate in development and execution of short and long-term financial objectives consistent with the organization’s strategies and goals. Preparation with collaborators, presentation, and implementation of Credit Union-wide budget.

Collaboratively manage all phases of funding including all borrowings and pricing of deposits; administer Contingent Funding program. Administration of Risk Management (insurance policies) for the Credit Union. Identify and recommend new financial opportunities and risk mitigation solutions available to the credit union to enhance overall performance and strengthen the credit union’s position in the marketplace.

Oversight and Management of all phases of the Credit Union’s investment portfolio including purchase and sale decisions (all trading), safekeeping, and custody. Portfolio consists of mortgage-backed securities and collateralized mortgage obligations, U.S. Government, U.S. Federal Agency securities, Corporate Bonds, Preferred Stocks and daily federal funds/cash position.

Vendor Management responsibilities that include vendor compliance review of financial statements as well as an annual review of relationship. Attend Board Meetings as needed and report on assigned areas of responsibility as requested by the President, Board of Directors, and Investment Committee. Key member of Senior Management, Asset/Liability (Chair), Investment, Member Business Lending, and Compliance/Risk Committees.

Other duties as assigned.



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