VP of Finance

3 hours ago

Fall River, Massachusetts, United States Fall River Municipal Credit Union Full time


Full-time

Description

* Must have prior Credit Union or Banking Experience. Full-Time in office position located in Fall, River, MA 

POSITION TITLE: Vice President of Finance

DEPARTMENT: Finance

POSITION FUNCTION

Under the general supervision of the Chief Executive Officer, manages the Credit Union's accounting and record-keeping functions.

ESSENTIAL FUNCTIONS:

  1. Responsible for the Credit Union's accounting and fiscal reporting.
  2. Counsel's management on fiscal control and profitability.  
  3. Prepares, presents and interprets major reports for senior management and participates in all appropriate management planning sessions.
  4. Manages the accounting operations of the Credit Union. Maintain Credit Union depreciation and amortization schedules, accruals and prepaid expenses and payables. Initiates all adjusting entries.
  5. Prepare annual operating budget and present to board and management for approval. Responsible for making periodic financial progress reports.
  6. Monitor the daily funds position, maintain adequate liquidity, advise the investment committee of investment positions, and execute investment decisions.
  7. Prepare and submit to appropriate government officials all information required by law or regulation.
  8. Institutes all necessary audits as deemed appropriate. Work with auditors, examiners and audit committee, reviewing the financial accounts of the credit union.
  9. Supervise the preparation for all correspondent bank deposits, and reconciliation of corporate accounts.
  10. Prepare all month-end and quarter-end reports. Prepare special reports requested by other departments.
  11. Prepare financial forecasts and other financial simulations, including Asset Liability Management, for decision-making purposes.
  12. Responsible for all outgoing wire transfers.
  13. Responsible for reporting branch profitability.
  14. Reporting and reconciling to FNMA.
  15. Maintaining the appropriate records for the Fed Home Loan.
  16. Monitoring loans in pipeline to sell to FNMA.
  17. Have an advisory role with the ALCO and Investment Committees.
  18. Participate in all management planning sessions as needed, direct and establish department planning parameters and ensure completion of such.
  19. Liaison for the Audit Committee and the internal auditors. Responsible to coordinate audit with management and staff. Review the audit findings report back to the audit committee with response from the appropriate department.

20. Responsible for monitoring all corporate credit union authorization levels.

21. Responsible for monitoring and reporting on all credit union borrowings to board and management.

22. Responsible for preparing and presenting all reports requested by the Audit committee on a monthly basis.

23. Responsible for reviewing all Board of Director expenses as presented for payment.

24. Monitoring and funding of the allowance for loan loss.

25. Reviewing and revising policies regarding: Investments, ALCO, Liquidity, Accounts Payable, Loan Loss, Compliance, Corporate Credit Card, and IPS-Sendero products.

26. Provides subordinates with training and communication of information, on an ongoing basis on new and revised procedures and policies.

27. Oversees and performs annual performance evaluations of the department staff.

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