The Vice President, Finance will serve as a key member of the financial leadership team. The Vice President Finance is accountable for delivering high value-add business analysis as well as defining and reporting meaningful financial and operational metrics that lead to insightful, accurate business decision-making and forecasting. The Vice President Finance will be responsible for developing a financial planning organization that has a comprehensive understanding of all key business drivers and sophisticated financial models that enable the team to deliver insightful, value-added analysis and produce and execute plans for organizational success, including market and channel performance.
The Vice President Finance plans, directs, and controls the organization's overall investment, liquidity, and treasury plans, policies, and functions including relationships with brokers, regulatory bodies, legal counsel, the financial community, and external auditors. Is responsible for the development, implementation, and administration of investment policies and strategic objectives. Directs the activities associated with the security and investment of the Credit Union's assets and funds and ensures that financial transactions, policies, and procedures meet the Credit Union's short and long-term goals and objectives, regulatory body requirements, and safe and sound business practices. Supervises the Credit Union's bank accounts, borrowings, leverage trades, investment, and safekeeping functions. Monitors the economy, analyzing the effect on cash flow, borrowings, and investments to ensure successful management of the balance sheet in consideration of safety, liquidity, and yield.
The Vice President Finance plans, directs, and controls the Credit Union's asset/liability management oversight activities, including interest rate risk analysis, borrowing, and financial analysis. Develops and recommends loan and deposit product pricing strategies to ALCO.
TASKS, DUTIES, FUNCTIONS:
1. Develop dynamic methodologies for identification and performance monitoring of primary drivers impacting operational performance.
2. Develop dynamic methodologies and produce executive-level reports to determine financial performance across markets, products, channels, and member demographics.
3. Actively own key finance and business processes including but not limited to enterprise wide analytics.
4. Provide high level and innovative thought leadership to drive improvement; recommend areas for improvement and lead projects to enhance the reporting and analytical infrastructure.
5. Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position.
6. Foster a positive and engaging work environment for each team member by promoting skill development, coaching for improvement and growth, inspiring others through your words and actions, ensuring positive employee morale throughout Golden 1, and embracing our mission, vision and core values.
7. Lead and mentor the Finance team, conduct informal and formal performance and compensation reviews, set goals, set priorities and ensure appropriate training and development efforts are in place.
8. Oversee and coordinate the assessment of Market, Product, Member, and Channel performance to identify gaps and additional value areas to maximize performance.
9. Prepare analysis, commentary, and presentation of performance trends and forecast.
10. Conduct internal and external benchmarking to support metrics-based decisions.
11. Exhibit flexibility and willingness to take on new responsibilities and assignments as they are identified by the SVP-CFO and to assist with various ad hoc projects as needed.
12. Monitor and oversee daily cash position and primary liquidity levels of the Golden 1 Credit Union.
13. Review, evaluate, and oversee adequacy of borrowing lines and other forms of contingent liquidity.
14. Develop, implement, and manage a comprehensive forward-looking liquidity and funds management process that ensures adequate liquidity levels.
15. Monitor market and industry trends as it relates to local, national, and global economic conditions.
16. Evaluate, recommend, and facilitate execution of investment strategies to optimize portfolio composition and yield.
17. Oversee development of the annual Strategic Investment Plan and conduct quarterly reviews to be presented to ALCO.
18. Evaluate and recommend hedging strategies when appropriate.
19. Leads asset liability management (ALM) and interest rate risk management functions including quarterly ALM analysis and Board reporting, policy and regulatory compliance, and annual model validation. Manages relationship with third party ALM analysis provider. Leads and mentors analysts supporting this function.
20. Monitors competitive market and makes loan and deposit pricing recommendations to ALCO ensuring Golden 1 product pricing aligns with strategy. Partners with key business lines across the organization to provide thought leadership, detailed financial analysis, and strategic recommendations in the areas of product pricing and profitability for existing and new loan and deposit products.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:
1. Effective oral and written communication skills required perform in-depth analyses, make presentations to Senior Management, manage and evaluate staff, and accomplish other managerial functions as needed.
2. Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
1. INTERNAL: All levels of staff.
2. EXTERNAL: External auditors, regulatory and governmental agencies, financial institutions, trade organizations, and vendors.
1. EDUCATION: Bachelor of Science Degree in Accounting or Finance required. Certified Public Accountant or Master's Degree in Business Administration is preferred.
2. EXPERIENCE: Minimum five years of progressively responsible top management experience in auditing, accounting, or controller duties is required, preferably with a financial institution.
KNOWLEDGE/SKILLS: Accounting and financial management skills. Strong oral and written communication skills. Knowledge of credit union industry and practice, data processing, accounting principles and auditing standards, and business administration.
1. Prolonged sitting throughout the workday with occasional mobility required.
2. Corrected vision within the normal range.
3. Hearing within normal range. A device to enhance hearing will be provided if needed.
4. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
5. Minimal travel (1-5 times annually) locally, statewide, and throughout the United States required to develop and manage all aspects of Accounting and Finance and to attend conferences, seminars, and meetings. Overnight travel and evening schedules included.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled