VP of Finance

Fall River Municipal Credit Union • Fall River, MA

24d • $130,000 - $180,000 • Onsite

About The Position

Under the general supervision of the Chief Executive Officer, manages the Credit Union’s accounting and record-keeping functions.

Requirements

• Must have prior Credit Union or Banking Experience

Responsibilities

• Responsible for the Credit Union’s accounting and fiscal reporting.
• Counsel’s management on fiscal control and profitability.
• Prepares, presents and interprets major reports for senior management and participates in all appropriate management planning sessions.
• Manages the accounting operations of the Credit Union.
• Maintain Credit Union depreciation and amortization schedules, accruals and prepaid expenses and payables.
• Initiates all adjusting entries.
• Prepare annual operating budget and present to board and management for approval.
• Responsible for making periodic financial progress reports.
• Monitor the daily funds position, maintain adequate liquidity, advise the investment committee of investment positions, and execute investment decisions.
• Prepare and submit to appropriate government officials all information required by law or regulation.
• Institutes all necessary audits as deemed appropriate.
• Work with auditors, examiners and audit committee, reviewing the financial accounts of the credit union.
• Supervise the preparation for all correspondent bank deposits, and reconciliation of corporate accounts.
• Prepare all month-end and quarter-end reports.
• Prepare special reports requested by other departments.
• Prepare financial forecasts and other financial simulations, including Asset Liability Management, for decision-making purposes.
• Responsible for all outgoing wire transfers.
• Responsible for reporting branch profitability.
• Reporting and reconciling to FNMA.
• Maintaining the appropriate records for the Fed Home Loan.
• Monitoring loans in pipeline to sell to FNMA.
• Have an advisory role with the ALCO and Investment Committees.
• Participate in all management planning sessions as needed, direct and establish department planning parameters and ensure completion of such.
• Liaison for the Audit Committee and the internal auditors.
• Responsible to coordinate audit with management and staff.
• Review the audit findings report back to the audit committee with response from the appropriate department.
• Responsible for monitoring all corporate credit union authorization levels.
• Responsible for monitoring and reporting on all credit union borrowings to board and management.
• Responsible for preparing and presenting all reports requested by the Audit committee on a monthly basis.
• Responsible for reviewing all Board of Director expenses as presented for payment.
• Monitoring and funding of the allowance for loan loss.
• Reviewing and revising policies regarding: Investments, ALCO, Liquidity, Accounts Payable, Loan Loss, Compliance, Corporate Credit Card, and IPS-Sendero products.
• Provides subordinates with training and communication of information, on an ongoing basis on new and revised procedures and policies.
• Oversees and performs annual performance evaluations of the department staff.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: No Education Listed