Chief Financial Officer & VP Finance

  • Connex Credit Union
  • North Haven, CT 06473, USA
  • Sep 02, 2021
Sales

Job Description

The Vice President and Chief Financial Officer (CFO) Is responsible for directing and overseeing all financial activities of the corporation including the preparation of current financial reports as well as summaries and forecasts for future business growth and general economic outlook. This position is also responsible for the Collections function. As a member of the Executive Team, the CFO plays an integral role in setting the company’s strategic direction, development and future growth, positioning the company’s service offering as a leader in the credit union industry. This position plays a leadership role in monitoring financial reports and ensuring appropriate controls are in place for purposes of compliance. Essential Functions and Responsibilities: Strategy, Planning and Management Serve as a key member of the Executive Leadership Team. Lead the Assets, Liability Committee. Chair the 401(k) Trustees’ Committee and the Prefunding Committee. Communicate, engage and interact with the Board of Directors Studies long-range economic trends and projects company prospects for future growth in overall sales and market share. Identifies and financially analyzes opportunities for acquisitions or expansion into new product areas Provide insight and recommendations to both short-term and long-term growth plans Facilitate the development of long term strategic financial objectives Create and establish yearly financial objectives that align with the company’s short term goals Project financial goals for 3-5 year strategic planning Select and engage consultants, auditors and investors as required Financial Analysis, Budgeting, Forecasting and Cash Management Develop annual operating budgets Prepare, review and analyze monthly financial results including general ledger accounts, balance sheet accounts and overhead cost allocation; contrast results against budget. Provide recommendations where forecast, budget and actuals differ against goals, budgets and forecasts Identify, develop and execute analysis of business initiatives and new product offerings Supervise creation of reports, software implementation and tools for budgeting and forecasting As leader of the asset/liability management process (ALCO), analyze and identify areas in need of adjustment and recommend corrective actions from market risk, liquidity and income risk perspectives Oversees all investments and management of cash needs and related banking relationships Direct and Manage the Accounting and Collections Functions Build and lead high performing teams. Identify technology, skills and process enhancements to leverage resources and insure all teams have the knowledge and tools to operate efficiently and effectively Ensure the credibility of all teams by providing timely and accurate analysis of budgets, financial trends and forecasts Oversee weekly cash management and accounts payables; approve large payables, sign checks, authorize large wires and ACHs Represent Connex to financial partners, institutions Financial Reporting and Control Review and ensure application of appropriate internal controls, compliance and financial procedures Serve as a key point of contact for external auditors; manage preparation and support of all external audits Oversee the preparation and timely filing of all local, state and federal tax returns Oversee the month-end close process managing both timeliness and accuracy of all data Oversee the preparation of monthly, quarterly and annual financial statements Qualifications and Requirements BS in Accounting or Finance; CPA required; MBA highly desirable Eight to ten years of experience in financial management at a financial institution with increasing responsibilities for multi-faceted direction and planning Excellent attention to detail and accuracy Strong knowledge and understanding of GAAP and SOX compliance requirements Demonstrated leadership ability, confidence and executive presence Ability to manage and motivate staff Excellent analytical, reasoning and problem-solving skills Experience working with external auditors, banking regulators on internal controls and compliance-related issues, highly desirable Knowledge of best practices as well as state, federal and local laws governing credit union operations