Job description
Position Description:
The Finance Director will play a key role in building and managing systems for financial reporting and modeling, budgeting and asset/liability management with a strong focus on risk management. The primary responsibilities of this position will be active liquidity management, Board and Committee reporting, balance sheet management, budgeting and investment monitoring.
Key Responsi bilitie s:
Financial Reporting and Analysis
- Analyze financial results. Consolidate and analyze financial data to produce reporting including monthly, quarterly & annual management, Board & Committee reporting.
- Assist with the preparation of the Credit Union’s 5300 reporting requirements.
- Conduct ad-hoc and periodic financial analysis & forecasting to inform strategic decision making. Participate in the preparation of financial analysis for capital projects and products & services including cost-benefit analysis and return on investment forecasting.
- Serve as a dynamic driver of continuous and measurable improvement in the company’s financial and operational processes and practices, through a combination of analysis and interpersonal skills working other departments. Take a leadership role in all financial analysis and planning for the Credit Union.
- Develop reports to enhance forecast accuracy for liquidity and earnings based on the past, present and expected operations and economic conditions. Provide recommendations to optimize revenue and control risks and expenses.
Budget Planning and Review
- Lead and facilitate annual budget preparation. Serve as subject matter expert for department leaders and assist executive leadership in decision making to limit predictable budget variance.
- Assist in creation of final budget report and presentation.
- Design effective budget tracking and planning systems for departments and the entire organization.
- Analyze a variety of financial information to produce variance reporting and explanation.
Asset/Liability Management
- Oversee Asset Liability Management activities to control interest rate and liquidity risk through measurement and reporting to CFO and ALCO.
- Manage Quarterly Asset Liability Management modeling process including assumption development, analysis & documentation with outsourced ALM Modeling Vendor.
- Measure, monitor, and manage liquidity daily to ensure adequate funding sources remain available to meet business needs
- Serve as an active participant in Pricing Committee & ALCO.
Finance Program Development
- Develop, implement & maintain appropriate policies, procedures & other documentation related to finance department functions
- Actively collaborate with all key business areas to drive successful financial outcomes and build strong working relationships. Support other departments and leaders, as needed, with financial reporting, projects, scorecards, etc.
- Coordinate with peers to ensure smooth audits by working with staff from internal auditors, external auditors, and financial regulators.
Responsibilities listed reflect general responsibilities of this position and are not to be construed as an exhaustive list of all duties. Other duties may be performed as needed.
Qualifications:
Education & Experience:
- Bachelor’s Degree in Accounting, Business, Finance or related field strongly preferred. In lieu of degree, an equivalent combination of education and experience will be accepted.
- Minimum five years of ALM experience in or related to financial institutions required.
- Prior experience building reporting with Tableau, a plus.
Knowledge, Skills & Abilities:
- Problem solving – the individual will demonstrate solid judgment, problem solving, and decision making skills; will apply knowledge and experience to develop solutions and solve problems independently; will resolve problems in a timely manner, gather and analyze information skillfully, and will implement appropriate corrective action.
- Ability to effectively communicate (written and oral)
- Strong organizational skills with the demonstrated ability to meet strict deadlines
- Ability to work independently and as a team member.
- Strong time management skills with the ability to prioritize projects and tasks
Competencies:
- Decision Quality – Makes good decisions based upon a mixture of analysis, wisdom, experience and judgment; is sought out by others for advice and solutions.
- Organizational Agility – Knowledgeable about how organizations work; knows how to get things done both through formal channels and the informal network; understands the origin and reasoning behind key policies, practices, and procedures.
- Perspective – Looks toward the broadest possible view of an issue or challenge; has broad-ranging personal and business interests and pursuits; can easily pose future scenarios; can think globally; can discuss multiple aspects and impacts of issues and project them into the future.
- Planning – Accurately scopes out length and difficulty of tasks and projects; sets objectives and goals; breaks down work in to the process steps; anticipates and adjusts for problems and roadblocks; measures performance against goals; evaluates results.
Physical Demands:
- Must be able to lift up to 10 pounds.
- Requires standing and/or sitting for an extended period of time.
- Travel required between various CT branch locations as needed.
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