About the position
Belmont Savings Bank is a proud community bank committed to serving individuals, families, and businesses with personalized service and sound financial related solutions. As a mission-driven institution, we value trustworthiness, integrity, personal accountability, adaptability, and reliability to drive our long-standing relationships with our customers and our community. We are currently seeking a strategic and hands-on Chief Financial Officer (CFO) to join our executive team and lead the bank's financial health and strategic direction. The CFO is responsible for managing and directing all financial functions of the bank, including accounting, financial reporting, budgeting, investments, asset/liability management, and regulatory compliance. As a member of the executive leadership team, the CFO plays a key role in guiding the bank's strategic direction and long-term sustainability while ensuring operational excellence and fiscal responsibility.
Responsibilities
- Oversee preparation and accuracy of financial statements in accordance with GAAP and regulatory standards.
- Ensure timely monthly, quarterly, and annual reporting to internal and external stakeholders.
- Manage the bank's general ledger and accounting functions.
- Lead the annual budgeting process, providing insight and analysis to support strategic goals.
- Prepare regular financial forecasts and variance analyses for executive and board review.
- Monitor and manage the bank's liquidity, capital, and interest rate risk through effective asset/liability strategies.
- Oversee investment portfolio in compliance with policy and risk tolerances.
- Ensure compliance with federal and state banking regulations, including regulatory filings.
- Liaise with auditors, examiners, and regulatory agencies.
- Serve as a key advisor to the CEO and Board of Directors on financial strategy and performance.
- Participate in long-term strategic planning, M&A evaluation, and growth initiatives.
- Identify opportunities for operational efficiencies and cost savings across departments.
- Supervise and mentor finance and accounting team members.
- Promote professional development and ensure cross-functional collaboration.
Requirements
- Bachelor's degree in Accounting, Finance, or related field (required); CPA or MBA (preferred).
- Minimum of 7-10 years of progressive financial leadership experience, preferably in banking or similar financial services.
- Prior experience as a Controller, VP of Finance, or CFO in a community bank or similar institution is strongly preferred.
- Must have very effective verbal and written communication skills.
- Ability to adjust to situations and circumstances to achieve meaningful bank developed objectives and results.
Nice-to-haves
- Deep understanding of banking regulations, GAAP, and risk management principles.
- Proficiency with core banking systems and financial analysis tools.
- Strong leadership, communication, and interpersonal skills.
- Strategic thinker with attention to detail and a hands-on approach.
- Ability to translate complex financial data into actionable insights for leadership and the board.
- Commitment to community values and mutual banking principles.
Benefits
- Competitive compensation
- Benefits package
- Opportunity to shape the future of a growing and respected community bank
