Chief Financial Officer

Location

Livonia, MI | United States

Job description

ABOUT ZEAL CREDIT UNION:

At Zeal Credit Union, we are passionate about our members, and we work hard every day to help them achieve their financial goals. Working at Zeal isn't just a job or a career; working at Zeal is a calling. So, what does it take to work at Zeal Credit Union? It takes Character, Empathy and Passion. These aren't just words to us; they are the core elements of our brand and the principles that guide everything we do.

POSITION PURPOSE:

The Chief Financial Officer (CFO) leads and oversees the financial strategy and resource management operations of the organization and all its affiliated or owned subsidiaries. They are responsible for directing, coordinating, maintaining, and controlling an accounting system that accurately reflects the financial position of the Credit Union. The CFO is a key participant in the development of the credit union's strategy, the expert for financial decisions, prepares board, senior and executive management presentations, leads asset-liability management, enterprise risk management, merger analysis, product, delivery channel, member and organizational cost, and profitability analysis. The incumbent will provide guidance, support, and counsel to the President/CEO and Board of Directors regarding the credit union's financial position, reporting systems, policies, procedures, and programs. The CFO will function as a member of the Senior Leadership Team and will participate in establishing and implementing the goals and objectives of the Credit Union. They will establish and implement strategies that have a mid to long-term (3-5 years) impact on business results, while driving tactical results through staff to support achievement of organization objectives. They will ensure the accurate internal and external recording and reporting of financial transactions to state and federal regulatory agencies and are in compliance with established legal, regulatory, and Credit Union procedures.

ESSENTIAL FUNCTIONS:

• Manages and maintains overall responsibility for all aspects of credit union and manages services and functions for lines of business managed (Accounting, Finance, Compliance, Risk, ERM), including the implementation/execution of strategies and the establishment of goals to drive operational effectiveness and efficiency.
• Develops business plan for finance, accounting, and tactical strategies, which are consistent with overall Credit Union vision, and strategic plan.
• Will continuously evaluate established policies and procedures, while updating or modifying as necessary with evolving regulations.
• Responsible for the credit unions liquidity and interest rate risk measures, including recommendations for a cash and investment portfolio.
• Responsible for the effective preparation, maintenance, integrity and reporting of internal and externally reported budget and financial records and analysis for financial institution(s).
• Apply knowledge of banking and financial services operations and best practice management techniques to provide effective and efficient management of finance and accounting functions under management.
• Is the "Finance and Accounting Key Performance Indicator Champion" for the organization. Reviews all credit union initiatives and provides constructive feedback regarding the impact tactics/strategies may have upon the organization with an eye towards maintaining a safe and healthy credit union.
• Drives the development of financial planning and budgeting while maintaining awareness of economic factors affecting the achievement of established organizational goals.
• Collaborates with executive officers, market presidents and the leadership team in developing short and long-term goals and objectives that meet the Credit Union vision and strategies.
• Identifies questionable actions, operational inefficiencies within areas managed and collaborates with staff and management to resolve or improve them.
• Analyzes all levels of finance and administrative functions & activities to provide related information/reports to the Credit Unions executive management, Board of Directors, Committee's, Financial Auditors, and regulators when applicable.
• Ensures compliance with legal commitments and all credit union policies, federal and state regulations, generally accepted accounting principles (GAAP) and internal/external review recommendations that impact or are related to finance and accounting business functions or processes.
• Ensures that the Credit Union's professional integrity and reputation are maintained throughout the organization, community, and industry.
• Participates in community organizations and events to enhance the image and reputation of the Credit Union in the communities it serves.
• Assist and support Credit Union personnel, responding to questions and information needs.
• Keeps the team informed of area activities and any significant problems.
• Provides leadership to department leadership through effective objective setting, delegation, and communication.
• Ensures that the Credit Union's professional reputation is maintained as well as the appropriate levels of confidentiality are maintained.
• Stays informed of trends and changes in the financial space.
• Other duties as assigned.

QUALIFICATIONS:

Education/Certification:

• Bachelor's degree in accounting, finance, or economics (Master degree preferred)
• Professional certification (CPA, CMA, CFA are strongly preferred)

Required Knowledge:

• Thorough understanding of all profitability and Asset/Liability dynamics
• Experience with and knowledge of line of business profitability, including funds transfer pricing and cost allocations methodologies.
• Experience and in-depth knowledge of CECL accounting and calculations
• Thorough knowledge of financial and accounting practices and procedures
• Understanding of governmental regulations and reporting requirements
• Familiarity with related auditing and information services functions
• Understanding of Credit Union operations and information needs

Required Experience:

• 10+ years of executive level management experience in the credit union or financial institutions
• 15+ years of operational experience within credit unions or financial institutions
• 10+ years of finance or accounting department management experience

Skills/Abilities:

• Exceptional analytical, organizational, and decision-making skills
• Strong interpersonal skills including the ability to communicate effectively and work in a team environment.
• Demonstrated leadership skills including the ability to motivate and/or influence others and obtain cooperation.
• Ability to manage multiple lines of business and produce results in accordance with business plans.
• Strong attention to detail

INTERVIEW PROCESS:

We respect and appreciate your interest in this position and want to give full transparency to our timeline in hiring. The current timeline, subject to change, will be as follows:

• Recruiting in February & March
• Interviewing in late March & April
• Decision/offer made in June
• Selected Applicant to start by July 1st

We are an Equal Opportunity Employer. We do not discriminate based on race, religion, color, sex, age, national origin, or disability.

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Salary