Chief Financial Officer

Chief Financial Officer (CFO)

Reports To : President / CEO

Supervises : Vice President of Accounting, Director of Finance

Status : Exempt

Objective

The Chief Financial Officer (CFO) serves as an integral member of the Executive Management Team and is responsible for shaping the overall vision, planning, and leadership of the Credit Union's financial health. Through dynamic and hands-on involvement, the CFO participates actively in establishing and executing major goals and objectives of the Credit Union, with a focus on all aspects of financial management. The CFO oversees accounting, asset and liability management, budgeting, capital expenditures, investments, pricing, projections, profitability, liquidity risk, and regulatory management, as well as other departments and financial systems that reflect the Credit Union's financial position. The CFO ensures compliance with all state and federal regulations and reviews the soundness, adequacy, effectiveness, and proper application of financial controls. Additionally, the CFO leads the development and implementation of effective operational planning and directs all back-office operations related to electronic banking services, including treasury services, ACH, share draft, wire transfer, ATMs, and associated vendor relationships. The CFO also directs and evaluates the performance of the Accounting, Electronic Banking, and Finance Departments.

Duties and Responsibilities

Develops and implements effective financial strategies, objectives, policies, and procedures for the organization

Assists Senior Management in developing short and long-term goals and objectives

Manages the Credit Union's investment portfolios in conjunction with established Asset Liability strategies, while executing securities and other investment purchases within policy limitations

Leads the Asset and Liability Committee (ALCO) as well as the Loan and Share Committees

Serves as a member of various organizational committees including :

• Enterprise Risk Management Committee, both at the Board and Management levels
• Charitable Giving Committee
• Finance Committee
• Technology Information Security Committee

Effectively manages Credit Union risks including loan loss reserve, compliance, profitability, interest rates, and liquidity

Ensures the effective preparation, maintenance, and reporting of internal and external financial records and analyses

Develops the critical financial management information to improve key business decisions

Ensures effective and efficient operations; conducting periodic reviews of existing systems, products, and procedures; provides recommendations regarding improvements in service delivery, processes, and equipment needs, which will further the Credit Union's objectives

Builds and sustains a highly capable and contributing leadership team consistent with the Credit Union's culture and goals

Establishes and maintains effective communication and coordination with Credit Union personnel, management, and the board of directors

Ensures effective business relations with vendors, outside auditors and regulators, and with professional trade groups

Assumes responsibility for related duties as required or assigned

Performs all duties in a manner that is fully compliant with applicable industry regulations as well as KEMBA policy and procedures

Develops an understanding of Credit Union history, philosophy, organization, policies, and operational procedures

On a self-direct basis, continues to improve individual level of competency through training and certification on established educational programs