Deputy Chief Financial Officer (“DCFO”)

Carver Federal Savings Bank • New York, NY

266d • $150,000 - $225,000

About The Position

Reporting to the Chief Financial Officer (CFO), the Deputy Chief Financial Officer (“DCFO”) acts as a true business partner to the CFO, the CEO, the Board of Directors, and the Senior Management Team. The DCFO also represents Carver Federal Savings Bank (“CFSB”), with the CFO or independently, in the broader business and regulatory community in a highly visible role and provides key communications to external stakeholders. This is a key strategic and operationally-focused position for a financial institution that requires a formidable executive with demonstrated experience in financial services, who can drive financial success through organic growth, segment and market expansions, and other innovative opportunities. The Chief Financial Officer's team leads several critical functions including accounting, financial planning and analysis, treasury, tax, and accounting, and the Deputy Chief Financial Officer works closely with all key functions, including Legal, Compliance, and Audit. In addition to the day-to-day strategy and management of the financial function, the Deputy Chief Financial Officer assists the CFO in managing the Bank's balance sheet (asset/liability), liquidity and interest rate sensitivity, capital structure, and overall financial reporting and control processes. This position requires high energy and a strong work ethic, leadership of multiple priorities, outstanding communications and interpersonal skills (particularly presentation skills), the ability to work across functions, and a deep knowledge of the banking sector, business, and finance.

Requirements

• Minimum of fifteen to twenty years of increasingly responsible experience across all financial functions, having worked in fast paced, sophisticated and complex businesses to include financial institutions, banks, or other highly regulated platforms.
• An undergraduate degree in finance or accounting is ideal; an advanced degree (MBA) and/or accounting certification (CPA, CMA, CA) is preferred.
• At least 8 years of experience, at increasing levels of responsibility, in community banking, preferably in the tri-state region (New York, New Jersey, Connecticut).
• Prior working relationship with the OCC or FDIC required.
• Experience with public company and SEC reporting required.
• 10 years of practical experience in the field, e.g., prior bank CFO and/or practicing accountant, with current and detailed knowledge of critical accounting policies including GAAP, FASB rules/guidelines; SEC and FDIC/OCC filings; Sarbanes-Oxley or FDICIA.
• Demonstrated 'presence' and excellent communication skills, written and verbal, consistent with working with a Board of Directors and executive management team.
• Familiarity with accounting systems/software, including Cognos, ProfitStars, Sageworks.

Responsibilities

• Plan, develop, organize, implement, direct, and evaluate the organization's financial function and performance.
• Serve as a focal point for the Bank's initiatives for performance improvement, driving the delivery and optimization of its financial performance targets through the operation of rigorous controls, remedial actions and the provision of advice and guidance.
• Develop, implement and communicate the finance strategy to drive the delivery of CFSB's business strategy and performance targets.
• Participate in the development of CFSB's plans and programs as a strategic partner.
• Direct the management of the Bank's capital structure to ensure the continued availability of capital to meet agreed upon business priorities and requirements while satisfying all relevant regulatory requirements.
• Develop and maintain a comprehensive framework of financial policies, standards and practices that will ensure an appropriate level of consistent financial control, in line with Board and executive expectations and regulatory requirements.
• Verify the Bank's accounting activities are properly recorded in accordance with GAAP, including daily activity, month-end accruals, intercompany and consolidating entries.
• Provide technical financial advice and knowledge to others within the organization.
• Ensure that all general ledger account reconciliations are completed monthly.
• Review monthly variance analyses on a departmental basis to ensure proper income and expense classification, providing explanation for significant or unusual items.
• Shared responsibilities, with the CFO, for overseeing monthly reporting, including financial statements, Board reports, and Board presentations.
• Review financial statements, including all supporting schedules, for annual audit.
• Serve as the final reviewer of the Bank's Regulatory Call Reports prepared by accounting staff.
• Shared responsibilities, with the CFO, for providing timely and accurate analysis of budgets, financial reports and financial trends in order to assist the CEO, Board and other senior executives in budget accountability and in performing their responsibilities.
• Seek continual improvement of the budgeting process through education of department managers on financial issues impacting their budgets.
• Shared responsibilities, with the CFO, for evaluating and advising on the impact of long range planning, introduction of new programs/strategies and regulatory action.
• Enhance and/or develop, implement and enforce policies and procedures of the organization by way of systems that will improve the overall control and effectiveness of the Bank.
• Shared responsibilities, with the CFO, for providing strategic financial input and leadership on decision-making issues affecting the organization i.e., evaluation of potential alliances and partnerships, and longer term, acquisitions and/or mergers.
• In partnership with the CFO or independently, as required, responsibilities for presenting routinely to the Board of Directors and senior management.
• Evaluate the finance division's structure and team plan, focusing on continual improvement of the efficiency and effectiveness of the group and providing individuals with professional and personal growth.
• Oversee and direct treasury, budgeting, tax, accounting, long range forecasting, and insurance activities for the organization.
• Appraise the organization's financial position and issues periodic reports on organization's financial stability, liquidity, and growth.
• Develop and implement financial institution fiscal plans and policies.

Benefits

• Salary Range: $150,000 - $225,000

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree