CFO

About the Role

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.

Responsibilities

• Financial Reporting & Accounting Oversight
  • 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.
• Loan Portfolio & CECL Management
  • 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

• 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.

Skills

• 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
  • Fiserv Prologue
  • Fiserv DNA
  • Alloya Premier View
  • Stifel ShareFile
  • Kinective Omnilytics / NXTsoft
  • CECL Solutions
  • Plansmith Compass (ALM & CECL)
  • Diligent Board Books
  • Callahan Peer-to-Peer Analytics
  • FHLB Member Link Portal