Bank Chief Financial Officer

Job Description

Job Description

JOB TITLE: Chief Financial Officer REPORTS TO: Chief Executive Officer CLASSIFICATION: Full-Time, Exempt (Executive) JOB PURPOSE: The Chief Financial Officer is responsible for directing the fiscal functions of the company in accordance with Generally Accepted Accounting Principles issued by the Financial Accounting Standards Board and other advisory and regulatory organizations. Assist the CEO in the aggressive and successful growth of the company. Through a respectful, constructive, and energetic style, guided by the objectives of the Bank, the CFO provides the leadership, management, and vision necessary to ensure that the company has the proper operational controls, administrative and reporting procedures, and people systems in place to effectively grow the organization and to ensure financial strength and operating efficiency. Strategy, Planning and Management Act as Chief Financial Officer and strategic business partner to senior executive leadership team. Assess and evaluate financial performance of organization with regard to long-term operational goals, budgets, and forecasts. Provide insight and recommendations to both short-term and long-term growth plan of organization. Identify, acquire, and implement systems and software to provide critical financial and operational information, automating processes and increasing working efficiency. Communicate, engage, and interact with Board of Directors, Shareholders, Bank CEO, Division Heads and Executive Leadership Team. Collaborate with the Board and management to create and establish yearly financial objectives that align with the company’s plan for growth and expansion. Cooperate and engage consultants, auditors, and investors. Serve as a key member of executive leadership team. Participate in pivotal decisions as they relate to strategic initiatives and operational models. Created and implement policies, procedures and processes as deemed appropriate by senior leadership team. Financial Analysis, Budgeting and Forecasting Directs the preparation of enterprise-wide financial statements, including income statements and balance sheets. Prepares or assists with shareholder reports, tax returns, and governmental agency reporting. Review and analyze monthly financial results and provide recommendations. Identify, develop, and execute analysis of business initiatives, product launches and/or new service offerings. Develop and maintain monthly operating budget and annual company operating budget. Manage financial planning and analysis activities. Supervise creation of reports, software implementation and tools for budgeting and forecasting. Participate in meetings as assigned with Bank leadership. Accounting, General Ledger, Administration and Operations Supervise the accounting department to ensure the proper functioning of all systems, databases, and financial software. Review and ensure application of appropriate internal controls, regulatory compliance, and financial procedures. Oversee the preparation and timely filing of all local, state, and federal tax returns. Work with Human Resources on payroll reconciliation and posting to the general ledger. Oversee the month-end close process, constantly reviewing procedures while eliminating inefficiencies. Hire, develop and manage accounting directors, managers, and staff. Serve as a key point of contact for external auditors; manage preparation and support of annual external audits regarding financial documents. Coordinate and strategize methods used to attain team goals with Bank and Mortgage President. Financial Management Manage cash flow planning process and ensure funds availability. Oversee weekly cash management and AP Department, approve large payables, sign checks, authorize applicable wires and ACHs. Oversee investments, and asset management. Explore new investment opportunities and provide recommendations on potential returns and risks. Maintain outstanding banking relationships and strategic alliances with vendors and business partners. Utilize forward-looking models and activity-based analyses to provide financial insight into the organization’s plans and operating budgets. Financial Relations and Policies Engage the Board of Directors and Management in developing short term and long-term plans, projections, and budgets. Represent company to banks, financial partners, institutions, investors, public auditors, examiners, and officials. Remain current on audit best practices as well as state, federal and local laws regarding company operations. KNOWLEDGE, SKILLS, AND ABILITIES: Accounting Banking regulations as they relate to bank’s policies and procedures. Bank’s core processing system. Interact effectively with other departments. Gather and analyze data and provide feedback to Senior Management to improve bank performance. Effectively present information and respond to questions from groups of managers, co-workers, and customers. Organize activities and manage multiple tasks simultaneously. Work independently with little or no supervision Make immediate, responsible decisions. Extremely detail oriented. Excellent communication and organizational skills. WORKING CONDITIONS: This position may be asked to travel to necessary meetings, appointments, etc. outside the branch work environment. MINIMUM QUALIFICATIONS (Education, Experience, Skills): Bachelor’s degree (B.A. or B.S.) from a four-year college or university in a business-related subject or five to seven years of related banking experience and/or training; or equivalent combination of education and experience. Minimum five years management experience. Extensive administrative background. Ability to work well with others and motivate people. Must have working knowledge of Microsoft Word, Excel, and email software and use of the Internet. Benefits Health insurance Dental insurance Vision insurance Retirement plan Paid time off Company Description Continental Perspective Bank NC (Proposed) (“CPB” or the “Bank”) is planning to be formed as a North Carolina state-chartered bank that will also become a Federal Reserve member bank. CPB’s main purpose will be to operate as a community bank providing “main street banking” services to customers in the North Carolina suburban communities in which it proposes to operate.

CPB plans to operate as a typical community bank but has developed a unique business strategy that it believes will enable it to gain significant customer base and to operate profitably from its inception. CPB proposes to focus in its initial years of operation on providing traditional banking products to the sizeable and growing number of Asian-American and other underbanked populations that reside its market area and subsequently to such populations residing in other suburban North Carolina communities. This primary targeted population consist of individuals and small business owners, many of whom remain underserved by the existing national, regional and community banks that currently operate in these communities.

The founding shareholders (“Founders”) of the holding company being formed to hold all of the shares of the Bank (the “Holding Company”) believe that CPB will be in a unique position to attract and retain as the Bank’s core deposit and loan base a significant share of the already large and growing Asian-American population for several reasons. First, as Americans of Asian heritage who are themselves successful businesspersons, the Founders have a unique perspective on the types of banking products of interest to the Asian-American community and the related services they will expect in exchange for their loyalty as customers. Second, the Founders have extensive experience in banking, asset management, venture capital, private equity and real estate that will allow CPB to be able to structure deposit and lending products that are attractive to the Bank’s targeted customer base and other underserved populations and that, at the same time, are consistent with the Founders’ desire for CPB to limit its product offerings to traditional banking products considered to have a relatively low-risk profile.

Company Description

Continental Perspective Bank NC (Proposed) (“CPB” or the “Bank”) is planning to be formed as a North Carolina state-chartered bank that will also become a Federal Reserve member bank.

CPB’s main purpose will be to operate as a community bank providing “main street banking” services to customers in the North Carolina suburban communities in which it proposes to operate.

\r\rCPB plans to operate as a typical community bank but has developed a unique business strategy that it believes will enable it to gain significant customer base and to operate profitably from its inception.

CPB proposes to focus in its initial years of operation on providing traditional banking products to the sizeable and growing number of Asian-American and other underbanked populations that reside its market area and subsequently to such populations residing in other suburban North Carolina communities.

This primary targeted population consist of individuals and small business owners, many of whom remain underserved by the existing national, regional and community banks that currently operate in these communities.\r\rThe founding shareholders (“Founders”) of the holding company being formed to hold all of the shares of the Bank (the “Holding Company”) believe that CPB will be in a unique position to attract and retain as the Bank’s core deposit and loan base a significant share of the already large and growing Asian-American population for several reasons.

First, as Americans of Asian heritage who are themselves successful businesspersons, the Founders have a unique perspective on the types of banking products of interest to the Asian-American community and the related services they will expect in exchange for their loyalty as customers.

Second, the Founders have extensive experience in banking, asset management, venture capital, private equity and real estate that will allow CPB to be able to structure deposit and lending products that are attractive to the Bank’s targeted customer base and other underserved populations and that, at the same time, are consistent with the Founders’ desire for CPB to limit its product offerings to traditional banking products considered to have a relatively low-risk profile. #J-18808-Ljbffr