JOB SUMMARY: This position will be responsible for all financial records and accounting related functions associated with the credit union. The position will also be responsible for the management of the investment portfolio, asset/liability monitoring, and liquidity programs. In addition, this position is responsible for the administration of the budgeting process. Finally, the position will be responsible for overseeing and directing the day-to-day activities of the department and its employees.
MINIMUM REQUIREMENTS: Must have a four-year business degree with an emphasis in accounting or finance from an accredited university. An MBA and or a CPA designation is highly preferred. Five years recent, progressive CFO experience with five years in a financial institution preferred. Strong PC experience required, with emphasis on Excel and data analysis. Familiarity with data queries and analytics desired. Experience in investments and asset/liability management is preferred. ProfitStar (ALM software) experience preferred. Must have strong supervisor or management experience.
RESPONSIBILITIES and DUTIES:
Ensure the accounting records and reports are prepared accurately and in a timely manner which accurately reflect operations and their results in accordance with the NCUA Accounting Manual and generally accepted accounting principles (GAAP).
- Ensure the records at month-end for the Credit Union are closed in a timely manner.
- Ensure financial statements and other reports are prepared at month-end for submission to senior management and the Board of Directors.
Ensure proper maintenance of accounting records and reports.
- Records for accrued and pre-paid expenses.
- Depreciation records for all Credit Union fixed assets.
- Journal entries for the closing and selling (funding) of mortgage loans.
- Investment income accrual, amortization, accretion, and market value EOM journal entries are completed in a timely manner.
- Ensure all general ledger accounts are reconciled.
1-Manage the Accounting staff and their respective duties and projects.
2-Ensure the Credit Union’s internal and external accounts are reconciled in a timely manner. This includes, but is not limited to the Federal Reserve, Wescorp, etc.
3-Monitor activity between the Credit Union and all correspondents accounts.
4-Monitor, map, and correct core processing general ledger functions.
5-Ensure that NSFCU is in compliance with all federal, state, and NCUA regulations. In addition, make sure NSFCU adheres to all GAAP account requirements.
6-Ensure all bills for the Credit Union are paid in a timely manner. Work with vendors on accounts payable problems if required.
7-Oversee the expenditures of the Credit Union to make sure they are reasonable, and within the approved budget.
8-Primary Credit Union contact with NCUA Examiners and CPA Auditors.
9-Prepare and update the Credit Union’s monthly and annual operating/capital budgets for submission to CEO and Board of Directors.
10-Oversee cash management and monitor the need for short-term borrowing and availability of excess funds for investment. Ensure the liquidity of the Credit Union is kept at an optimal level.
11-Maintain investment records and portfolio, along with making investment decisions with the assistance of the CEO.
12-Prepare and maintain the asset liability management program using spreadsheets and the ALM modeling software. Provide staff and board members with adequate training on this program.
13-Supervise the preparation of call reports submitted to the National Credit Union Administration. Make sure reports are accurately submitted on a timely basis.
14-Work closely with other Credit Union staff solving problems that relate to accounting or data processing errors.
15-Attend monthly Supervisory Committee and Board of Directors meetings and present financial reports.
16-Establish and monitor internal accounting and data processing controls that adequately protect the Credit Union, its members, its management, and its employees. Immediately report any breakdown of internal controls to the President/CEO.
17-Develop and manage branch/department/product profitability models.
18-Develop and administer an annual budget for the Credit Union. Develop monthly reports for the board, department heads, and CEO.
19-Complete the CEO’s accounting to-do list tasks on a timely and complete basis.
20-Assist and be a backup for payroll processing duties.
21-Perform other related duties as assigned.
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