Controller

Ascend Bank • Wallingford, CT

1d

About The Position

The Controller is responsible for directing and coordinating all financial functions of the Bank. Responsibilities include maintaining all accounting systems within the organization to accurately reflect the financial position of the Bank. Managing and performing financial analysis to assist management in strategic decision making and supervising interest rate risk modeling, gap and liquidity analysis. The incumbent is responsible for accurately recording, and reporting, all financial transactions in accordance with accepted accounting principles and in compliance with applicable laws and regulations. Working with Executive Management, the Controller assists in developing the Bank’s annual operating and capital budgets in alignment with the Bank’s strategic plan. The incumbent is responsible for monitoring department policies and maintain accurate procedures. Additionally, the Controller works with the CFO to create, establish, and implement major departmental goals and objectives. The Controller is the main point of contact for the department internal and external audits, and is responsible to keeping, organizing, and delivering all necessary information. The incumbent serves as to the financial liaison to other departments throughout the organization ensuring that all finance activities are supported and in accordance with established legal, regulatory and board approved policy. Assigns, directs, and appraises finance staff in an effort to maximize development and productivity.

The position will participate in the development and implementation of Bank objectives and strategies to sustain the bank’s financial condition. These objectives center around maintaining profitable growth and positioning the bank to develop new products and services with appropriate pricing as it correlates to the Bank’s annual budget and the Strategic Action Plan. Additionally, the Officer will assess and set department priorities as well as ensure that policies and procedures of the Bank comply with established risk parameters and appropriate laws and regulations.

LEADERSHIP COMMITTEE:

Serves as a member of Leadership Committee. In this capacity, incumbent participates in all aspects of the leading of the Bank and has shared responsibility and accountability for the safety and soundness of the Bank. Assessment factors for the Leadership Team include performance relative to the Bank’s Annual Budget and longer-term Strategic Plan, as well as applicable peer groups. Applicable audit results as well as regulatory ratings for safety & soundness (CAMELS) and compliance also figure prominently.

Requirements

• A minimum of five to eight years of banking, or related experience, in the area of finance and/or accounting.
• Proficiency with Microsoft Word and Excel.
• A robust understanding of complex financial software.
• A thorough knowledge of financial and accounting practices and procedures.
• An understanding of governmental regulations and reporting requirements.
• A working knowledge of related auditing and IT functions.
• The ability to use data, information, and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills.
• Proficiency in Information, data, and content management.
• Proficiency in Teaching, learning, and self-development.
• Proficiency in Communication, collaboration, and participation.
• Proficiency in Digital identity, safety, and security.
• Technical proficiency with all bank products.
• Awareness and interest in new technology.
• Proficiency in Creation, innovation, and research.

Nice To Haves

• Master’s degree, CPA or MBA preferred.

Responsibilities

• Directing and coordinating all financial functions of the Bank.
• Maintaining all accounting systems within the organization to accurately reflect the financial position of the Bank.
• Managing and performing financial analysis to assist management in strategic decision making.
• Supervising interest rate risk modeling, gap and liquidity analysis.
• Accurately recording, and reporting, all financial transactions in accordance with accepted accounting principles and in compliance with applicable laws and regulations.
• Assisting Executive Management in developing the Bank’s annual operating and capital budgets in alignment with the Bank’s strategic plan.
• Monitoring department policies and maintaining accurate procedures.
• Creating, establishing, and implementing major departmental goals and objectives with the CFO.
• Serving as the main point of contact for the department's internal and external audits.
• Serving as the financial liaison to other departments throughout the organization.
• Assigning, directing, and appraising finance staff.
• Participating in the development and implementation of Bank objectives and strategies to sustain the bank’s financial condition.
• Assessing and setting department priorities.
• Ensuring that policies and procedures of the Bank comply with established risk parameters and appropriate laws and regulations.
• Participating in all aspects of the leading of the Bank as a member of the Leadership Committee.
• Assisting CFO with strategy related to liquidity, investments and overall Balance Sheet management.
• Managing daily operational aspects of liquidity, collateral accounts, and the investment portfolio.
• Interfacing with outside consultants including the Bank’s financial auditor and investment advisor.
• Overseeing the Bank’s quarterly interest rate risk model, including income simulation reports, EVE reports, hedge reports and liquidity reports.
• Reviewing all interest rate risk model assumptions.
• Providing leadership to Finance personnel through training and effective delegation.
• Developing and continuous improvement for the entire finance team.
• Setting challenging goals and ensuring quality communication.
• Developing back up and succession planning for the department and conducting performance appraisals.
• Coordinating and developing the Bank's annual operating and capital budgets.
• Soliciting information from all operating departments for budget development.
• Serving various roles within the Bank’s Management Committee structure.
• Taking a critical leading role in Pricing Committee and ALCO.
• Presenting at the Board level Investment ALCO committee quarterly.
• Managing secondary loan pricing and sales function.
• Working with ALCO to implement loan sale strategy and overseeing execution of annual sales goals.
• Collaborating with lending to ensure sound sales process, including competitive pricing, rate lock program, and accurate and timely delivery of loans.
• Managing all the activities of the accounting function, including daily general ledger processing, daily reconciliation of all core processing applications, and reconciliation of correspondent bank accounts, investment ledgers, borrowings, fixed assets, prepaid assets, accrued liabilities and accounts payable.
• Overseeing all investment accounting activities, including accounting for new purchases, sales, maturities, principal payments, and monthly income accruals.
• Overseeing all accounts payable activities, ensuring that expenses are properly approved, recorded, and completed on a timely basis.
• Enacting sound controls and procedures to mitigate risks in accounts payable.
• Managing short term and long term funding with respect to liquidity oversight.
• Overseeing the timely preparation of daily, monthly, annual and other periodic financial statements and reports required for use by the Board of Directors and Leadership Committee.
• Ensuring external document submissions and filing are accurate and timely.
• Preparing, reviewing, and ensuring the accuracy of the FDIC Call Report.
• Preparing and submitting regulatory forms for changes to Executive Officers or Directors, and for changes to Branches, to the CT Department of Banking.
• Updating, processing, and submitting any changes in authorizations or forms regarding broker/dealers, FRB, FHLB, FDIC, etc.
• Coordinating tax reporting requirements.
• Working with external accountants to prepare estimated quarterly state, federal income tax payments, and annual filing of income tax returns as well as annual property tax statements.
• Serving as the main liaison to ERM in establishing and maintaining an adequate internal control structure for financial reporting, in accordance with FDICIA requirements.
• Ensuring the Bank is complying with designated laws and regulations.
• Working with auditors and colleagues to enhance or revise controls to appropriately mitigate risks.
• Coordinating the annual financial audit and serving as a liaison between the Bank and external auditors and regulatory authorities.
• Overseeing documentation and information requests for internal and external audit functions and regulatory exams.
• Advising department managers regarding accounting entries, reports and comparative analyses.
• Ensuring that all employees are well informed of accounting policies, procedures, and regulations.
• Ensuring effective internal controls for the accounting processes.
• Continually evaluating established policies and procedures, making recommendations for modification when appropriate.
• Keeping abreast of economic and monetary market conditions as well as all regulatory agencies' regulations concerning the Bank.
• Attending and participating in meetings and committees as appropriate.
• Performing other duties as assigned.

Benefits

• Compensation is based on our market pay structures.
• Ascend Bank is an equal opportunity employer and offers equal opportunity to all applicants for all positions without regard to race, color, religion, national origin, age, disability, and veteran status.
• Applicants requiring reasonable accommodation in the application process should notify Human Resources.
• Ascend Bank participates in E-Verify.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager