Chief Financial Officer - Herndon, United States - Northwest FCU

Description

Overview:

The Chief Financial Officer position at Northwest Federal Credit Union (NWFCU) is accountable for the accounting, financial, and risk management operations, to include maintaining the credit unions financial operations, overseeing budgeting, and forecasting and contributing to the organizations planning activities. Responsible for all functions within the Accounting, Finance and Risk Management departments, this executive will establish and uphold the goals to maintain the credit unions financial health and assist in growth. The CFO will serve as the primary leader of the credit unions asset-liability strategies, cash management and investment functions, financial reporting, and production pricing/cost accounting models.

As a key member of the executive team, this position provides strategic direction and is responsible for the development and sponsorship of long-term financial objectives for the credit union.

• Responsible for the monitoring and analysis of the credit unions financial performance and providing recommendations and plans for performance enhancements
• Management and oversight of the institutions investment portfolio, in conformance with applicable laws and regulations as well as in accordance with the credit unions Investment Policy and defined risk parameters
• Responsible for oversight of bond accounting activities and modeling of projected performance of the portfolio and individual investments under varying conditions and scenarios
• Management of the institutions cash flows and related short-term cash and cash equivalent investments and overall liquidity requirements and positioning of the organization
• Provide oversight of the Credit Unions internal accounting systems and procedures necessary for recording, monitoring, and evaluating the Credit Unions financial performance and ensuring the accuracy and efficiency of these systems
• Design, development, implementation, reporting and maintenance of the organizations cost accounting system including unit costing, product costing and member costing systems
• Ensure compliance of accounting reporting and systems with generally accepted accounting principles and applicable regulatory directives
• Prepare, review, and analyze financial reports and information
• Direct and coordinate all budgeting processes and prepare and report on the organizations annual budget
• Develop software-modeling capabilities suitable to measure and manage the various risks embedded in the organizations sheet including interest rate, credit, and liquidity risks
• Remains cognizant of and adheres to NWFCU policies and procedures as well as regulations pertaining to the Bank Secrecy Act (BSA)

• Bachelors degree in accounting, finance, or a related field and a minimum of 10 years experience as a Chief Financial Officer in a large financial institution
• CPA preferred
• Demonstrated leadership experience as it relates to developing corporate vision, culture, and strategic plans
• Extensive experience developing and successfully executing financial and organizational plans to achieve established goals
• Effective presentation and speaking skills to groups, particularly including the Credit Unions Board of Directors
• Familiar with all risks embedded in the institutions balance sheet and must be skilled in the identification, quantification, and effective management of these risks
• Thorough knowledge of generally accepted accounting principles (GAAP) and a general understanding of international financial reporting standards (IFRS) is mandatory
• Comprehensive understanding of financial reporting standards including regulatory call reports along with knowledge of NCUA regulations is essential
• In-depth knowledge of asset/liability theory along with practical application to the management of the institutions balance sheet is required
• Experience in managing a large, fixed income portfolio and preferably have experience in designing and managing interest rate risk hedges utilizing interest rate derivatives
• Extensive experience is also required in developing and successfully executing financial and organizational plans to achieve established goals
• Extensive knowledge of principles of financial institution operational functions and data processing systems is necessary
  

Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.

NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at or