VP of Finance and Accounting

Role:

The primary purpose of Cy-Fair FCU is to provide member services, products and business practices that unlock and cultivate our members' financial future. To achieve this mission, this position must deliver high quality service to both internal and external members. The Vice President of Finance Accounting is responsible for leading and overseeing the financial and risk management strategies of the credit union including the development and monitoring of financial and operational performance metrics, income forecasts, and control systems including auditing, record keeping, and accounting best practices. This position leads the balance sheet management, Asset/Liability Management, accounting, and Federal financial reporting of the credit union. This position formulates and makes strategy recommendations relating to budget preparation and monitoring, operating expense reduction, and income forecasts. Periodic project management and project participation is essential to the successful execution of these duties.

Essential Functions & Responsibilities:

E 20% Administers and contributes to the credit union’s Balance Sheet Management planning strategies with primary emphasis on maximizing and growing gross revenues, operating cost reduction, liquidity management, branch accounting, branch P&L accuracy, rate and fee strategies, IRR, and concentration risk monitoring. Contributes to the formulation of the company’s strategic plan and supporting tactical initiatives. Develops performance measures that support CFFCU’s strategic direction.

E 15% Understands and mitigates key elements of the credit union’s risk profile. Formulates and executes various policies including (but not limited to) Investments, ALM, Liquidity, ALLL, Fixed Assets, Record Retention, Wire Transfer, Unclaimed Property, Concentration Risk, Participation Loans, Capital, and others assigned by the President CEO. Establishes and monitors reliable control systems. Reports risk issues to the President CEO, Board of Directors, and Supervisory Committee as applicable. Maintains appropriate insurance coverage. Ensures that the credit union complies with all legal and regulatory requirements. Member of the Asset Liability Management Committee.

N 15% Directs activities of the accounting, finance, and EFT department to be in accordance with credit union policies and objectives. Provides leadership and support to direct reports. Insures the competency of qualified personnel for key positions within the department. Develops, implements, and maintains accounting, finance, and EFT procedures to maximize efficiency and quality of work within the department. Oversees and reviews quarterly NCUA 5300 call report preparation in coordination with the Controller.

N 15% Formulates and executes the credit union’s investment strategy and policy. In conjunction with the President CEO, creates investment strategy relating to fixed income and loan participation with the objective of achieving maximum revenue, growth, and risk management. Monitors cash balances and cash forecasts. Maintains CFFCU’s liquidity at the optimum level for balance sheet performance and operational needs. Arranges for debt financing. Maintains relationships with brokers, safekeeping agents, and others to facilitate successful fulfillment of these duties.

N 15% Works with Executive Leadership Team to establish an annual budget for all organizational operations and provides leadership and periodic reporting to insure that budgeted goals are achieved and cost objectives are met.

N 10% Works with the Executive Leadership Team, Compliance Officer and Controller on internal and external audits and NCUA examinations. Maintains relationships with external auditors, internal auditors, and NCUA examiners. May work with the Compliance Officer to investigate and respond promptly to their recommendations. Prepares and presents responses to the Supervisory committee on a quarterly basis.

N 5% Works with President CEO to: Oversee and manage third-party Property Management firm and building projects; Administer all applicable accounting and reporting functions associated with executive compensation plans; Analyze and contribute to the evaluation of mergers and associated due diligence.

N 5% Performs other related duties as assigned. Including, cross training in order to carry out the monthly financial close independently. Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties and responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Performance Measurements:

1. To make a significant contribution toward meeting the credit union's financial and operational goals and objectives.

2. Achievement of Annual Financial Performance Goals.

3. Leads, mentors and coaches employees within assigned department. Responsible for providing ongoing feedback and training to employees to achieve maximum individual performance, including on the job training, monthly coaching sessions, performance discussions, outside training and annual preparation of performance appraisals.

4. To practice, promote, and support the Vision, Mission and Core Values of the Credit Union and ensures they are carried out by each employee.

5. Responsible for practicing, promoting and coaching the sales and service culture of the Credit Union, including a member centric (internal and external), results oriented commitment, resulting member services, products and business practices that unlock and cultivate our members' financial future.

6. To provide assistance to the President, Executive Leadership Team, and Board as requested.

7. To ensure compliance with the implementation of approved policies, state and federal laws and regulations, and CFFCU risk management objectives.

8. To direct the activities of assigned department in accordance with Credit Union policies and objectives.

9. Actively directs, administers, and monitors the investment performance of Credit Union assets.

Knowledge and Skills:

Experience Ten years of similar or related experience.

Education A Bachelor's degree in Accounting, Finance or Business is required. A Master's degree in Finance and/or CPA certification preferred.

Interpersonal Skills Experience in working with an Executive Leadership Team for a financial institution with $250 million or more in assets. Work involves extensive personal contact with members of the Board of Directors, community leaders, business leaders, and internal managers. Motivating others and getting them to do things that they might not do otherwise is essential in this position. External contacts are vital, not only for the success of the position, but the success of the company overall.

Other Skills Physical Requirements While performing the duties of the job, the employee is regularly required to stand, sit, walk, stoop, kneel, talk and hear. Vision requirements include: close vision and the ability to focus. Nature of the position requires physical mobility and the ability to lift a maximum of 20 pounds.

Work Environment Full time employees are required to complete (16) hours of volunteerism and (8) hours for Part time employees. All volunteer time has to be approved prior to event. In addition, needs to benefit or have an impact in the Harris County Community.

This Job Description is not a complete statement of all duties and responsibilities comprising the position.

Job Type: Full-time

Pay: $115,000.00 - $135,000.00 per year

Benefits:

• 401(k) matching
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Physical Setting:

• Office

Schedule:

• 8 hour shift

Ability to commute/relocate:

• Houston, TX 77065: Reliably commute or planning to relocate before starting work (Preferred)

Education:

• Master's (Required)

Experience:

• Accounting: 10 years (Required)

License/Certification:

• CPA (Preferred)

Work Location: One location