Responsible for monitoring the credit union's financial performance and interest rate risk position with respect to economic changes. Responsible for accuracy, timeliness, quantity and evaluation of financial and statistical data.
*Hires, supervises, trains, plans, coordinates and evaluates the performance of the Accounting Manager. Selects subordinates with appropriate qualifications for this position. *Appraises subordinate annually on objective, measurable performance; makes compensation and promotion recommendations on the basis of total performance.
*Continually trains and monitors employee's job performance and service standards. Cross trains and schedules employee to perform necessary backup in other credit union positions.
*Monitors outsourcing of daily accounting duties to assure transactions are accurately conducted in a timely manner.
*Uploads data, generates monthly reports, and analyzes results using the Asset/Liability management (ALM) model. Works with ALM consultants to maintain the model and to discuss strategies for mitigating interest rate risk. Generates "what-if" scenarios to test the impact to net worth and earnings from proposed changes to the balance sheet structure (before such changes are undertaken).
*Recommends strategies to the Asset/Liability committee (ALCO).
*Works closely with credit union approved brokers to maintain the investment portfolio is in compliance with NCUA Reg 703.
*Proposes investment policy changes to the ALCO as needed. Purchases/places investments after consideration of the following factors: 1) the credit union's current and projected liquidity position, and 2) the long-term impact(s) to earnings and net worth. Reports changes to the investment portfolio to the ALCO and board of directors monthly.
*Manages the credit unions liquidity position to mitigate undue opportunity costs, while reserving adequate funds for occasional spikes in loan demand and/or member share runoff.
*Analyzes financial and statistical ratios to evaluate the credit union's financial performance. Makes recommendations to the ALCO for improving the credit union's financial position.
*Evaluates and compares the credit union against peer performance on a quarterly basis.
*Gathers data for measuring productivity and profitability by branch, product, or member group. Evaluates revenues, costs, and earnings contribution of products for the purpose of product pricing.
*Conducts cost/benefit and yield analyses.
*Formulates an annual budget based on assumptions and goals determined by board and management. Tracks and reports credit union progress toward established goals monthly. Prepares and reports quarterly budget variances and updates budget when necessary.
*Monitors and reports suspected money laundering, structuring, or other suspicious activity by completing the Internal Report of Suspicious Activity form.
*Performs all duties in compliance with NCUA and Federal Reserve rules and regulations, and all other applicable laws.
*Works with the Accounting Manager to prepare the quarterly NCUA 5300 Call report.
*Communicates verbally and in writing with various organizations such as credit union corporate, investment brokers, vendors, management, board of directors and credit union peers.
*Consistently demonstrates a positive attitude toward our members and other employees, in compliance with our Service Standards.
*Serves on the Information Technology Committee
*Performs other duties as required or needed.
*Strong knowledge of financial analysis tools, especially in a financial institution setting. Understanding of budgeting principles and knowledge of investments and portfolio theory.
*Requires a comprehensive knowledge of and the ability to apply Generally Accepted Accounting Principles (GAAP), NCUA Accounting Principles, Principles for Federally Chartered Credit Unions, financial management, credit union polices, procedures and bylaws.
*Requires comprehensive knowledge of the following software: MS Office (Word, Excel, Access, PowerPoint), Monarch, Adobe Acrobat, Crystal Reports, C Myers Model, and IPS Asset/Liability Management
*Other computer-related skills: Adept at using the internet for data retrieval or research. Understanding of Fiserv XP Systems DB2 data format.
*Requires a thorough knowledge of credit union operations, policies and procedures.
*Requires a comprehensive knowledge of credit union products and services.
*Requires a thorough understanding of the credit union account structure and types in both the share and loan areas.
*Requires a comprehensive understanding of PC software for word processing and spreadsheets.
*Requires a working knowledge of the Windows operating system.
*Requires a thorough knowledge of the interoffice email.
*Requires a comprehensive knowledge of Federal and State regulations which relate to Finance and Accounting. Regulations would include (but not limited to) the following areas:
SKILLS AND ABILITY:
*Strong leadership skills required to oversee both finance and accounting functions. Able to coordinate financial tasks, outsourced accounting functions, and responsibilities retained in-house.
*Requires conceptual skills which involve the ability to see the organization as a whole and to understand how various functions of the organization complement one another, how the organization relates to its environment and how changes in one part of the organization affect the rest of the organization.
*Ability to perform mathematical equations such as all financial performance ratios, reserve requirements, productivity ratio yields and time value of money calculations.
*Ability to operate computer hardware and to work with software applications.
*Ability to prioritize and balance multiple tasks and commitment to meeting and exceeding deadlines and goals.
*Requires the ability to identify problem areas in finance/accounting and make independent decisions to resolve problems that relate to the standard operating procedures. Problems that occur out of the normal operations are communicated to the President/CEO.
*Requires human skills that build cooperation within the organization.
EDUCATION AND EXPERIENCE:
*Minimum Bachelors Degree in Accounting or Finance.
*Minimum three year\'s experience in a financial related field at or above an intermediate level