CFO

The Chief Financial Officer (CFO) is responsible for the strategic oversight and management of the Credit Union’s financial operations, including financial reporting, asset/liability management, investments, budgeting, regulatory compliance, liquidity management, and accounting functions. The CFO serves as a key member of the management team, providing financial analysis and guidance to executive leadership, the Asset Liability Management (ALM) Committee, and the Board of Directors.

Essential Duties and Responsibilities

• Oversee the overall financial operations and accounting functions of the Credit Union.
• Direct and support the Director of Finance/Controller to ensure efficient and accurate accounting department operations.
• Review monthly financial statements and management reports for accuracy and completeness.
• Present and analyze the Credit Union’s financial condition at ALM Committee and Board of Directors meetings.
• Monitor accrual accounts to ensure liabilities and expenses are properly recognized and funded.
• Review vendor invoices and ensure appropriate general ledger coding, expense classification, and authorization.
• Oversee the accounting treatment of prepaid expenses and fixed assets, including capitalization, amortization schedules, and ongoing monitoring.

Budgeting & Financial Planning

• Collaborate with executive management to develop the annual operating and capital budgets.
• Monitor budget performance and analyze variances from plan.
• Prepare and present significant budget variance reports and recommendations to management and the Board of Directors.

Asset Liability Management (ALM)

• Manage the Credit Union’s Asset Liability Management (ALM) program.
• Run the ALM model monthly and prepare analytical reports for management, the ALM Committee, and the Board of Directors.
• Facilitate quarterly ALM review meetings with third-party providers and the ALM Committee to evaluate financial performance, review assumptions, and assess future financial scenarios.
• Prepare and maintain monthly cash flow overrides and related ALM model updates.
• Coordinate independent ALM model validations with third-party vendors every two to three years.

Investments & Liquidity Management

• Manage the Credit Union’s investment portfolio to maintain appropriate liquidity and optimize returns within approved policies.
• Evaluate and purchase investments to support a structured maturity ladder and long-term liquidity needs.
• Monitor investment market values, credit ratings, and associated risks.
• Conduct annual due diligence reviews of investment brokers and representatives.
• Monitor liquidity levels, including balances maintained with Alloya and other financial partners.
• Recommend and execute liquidity management strategies, including potential investment sales when necessary.
• Perform quarterly testing of Federal Reserve Discount Window and FHLB borrowing capabilities to ensure operational readiness.
• Prepare monthly Line of Credit Utilization reports.
• Calculate and maintain the Allowance for Credit Losses (CECL) to ensure appropriate reserve levels.
• Review loan portfolio performance and prepare monthly reports related to loan participations, yields, and portfolio returns.
• Establish loan prepaid periods for each loan product to determine loan average life spans.
• Prepare Home Equity and Mortgage Delinquency reports for management review and reserve analysis.
• Fund mortgage loan advances through established credit facilities and prepare related amortization schedules.

Regulatory Compliance & External Relations

• Serve as the primary liaison with external auditors, internal auditors, NCUA examiners, state regulators, compliance and FHLB professionals.
• Review and file quarterly NCUA Call Reports, ensuring accuracy and timely submission.
• Coordinate with external CPA firms regarding annual tax filings, including IRS Form 990.
• Prepare and file annual personal property tax statements for municipalities within the Credit Union’s service area.
• Review fidelity bond and insurance coverage annually to ensure adequate protection of Credit Union assets.
• Ensure the Credit Union’s Annual Report includes required condensed financial statements prepared by independent auditors.

Governance & Strategic Leadership

• Participate as a member of the Information Technology Steering Committee, providing financial insight and strategic recommendations regarding technology investments and initiatives.
• Prepare and distribute financial and operational reports for management, committees, and the Board of Directors, including:
  • ACH and Web Loans Reports
  • Loan Portfolio Return Reports
  • Liquidity and credit line utilization reports
  • ALM and investment performance reports

Qualifications/Preferred Experience

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field required.
• Master’s degree in Business Administration (MBA), Finance, or Accounting preferred.
• Minimum of 10 years of progressive experience in accounting, finance, treasury management, or financial leadership roles, with at least 5 years in a senior management position.
• Prior experience in a credit union, banking, or other regulated financial institution environment strongly preferred.
• Demonstrated experience with Asset Liability Management (ALM), liquidity management, investment portfolio management, and balance sheet strategy.
• Extensive knowledge of NCUA regulations, Call Report preparation, and regulatory examination processes.
• Experience developing and managing annual operating and capital budgets.
• Proven experience with Current Expected Credit Loss (CECL) methodology, allowance calculations, and loan loss reserve management.
• Experience working directly with Boards of Directors, ALM Committees, executive leadership teams, external auditors, and regulatory agencies.
• Strong understanding of Generally Accepted Accounting Principles (GAAP) and financial statement preparation.
• Experience managing third-party vendor relationships, including ALM providers, investment brokers, auditors, and technology partners.
• Demonstrated ability to analyze financial trends, assess risk, and develop strategic recommendations that support organizational growth and financial stability.
• Experience leading and developing accounting and finance teams with a focus on operational excellence and employee development.
• Proficiency with credit union core processing systems, financial reporting tools, ALM software, and Microsoft Office applications, particularly advanced Microsoft Excel.

Systems and Software Proficiency

• Microsoft Excel, Word, and PowerPoint, MS Teams
• Kinective Omnilytics / NXTsoft CECL Solutions
• Plansmith Compass (ALM & CECL)
• FHLB Member Link Portal

This position requires a high level of financial expertise, strategic insight, regulatory knowledge, and leadership to ensure the Credit Union’s long-term financial strength, compliance, and operational success.