Chief Financial Officer

$150,000 - $200,000/Yr

Crescent Search - Montgomery, AL

Full-time - Executive

Remote - Montgomery, AL

About the position

The Chief Financial Officer (CFO) will be a key member of the executive leadership team, responsible for providing strategic financial direction and ensuring the bank's financial health and stability. The CFO will oversee all financial activities, including financial reporting, budgeting, forecasting, treasury, asset/liability management, and regulatory compliance, while collaborating closely with senior leadership to support the bank's mission to serve the underserved and create lasting community impact.

Responsibilities

• Provide strategic insights to senior management and board of directors to support decision-making and long-term planning.
• Lead financial due diligence efforts and provide financial analysis and guidance for potential mergers, acquisitions, and strategic growth.
• Oversee the bank's financial operations, including budgeting, forecasting, general ledger management, cash flow and financial reporting.
• Manage capital planning, liquidity, and cash flow management, ensuring strong asset and liability management.
• Lead efforts in maintaining a robust internal control environment and improving operational efficiency.
• Oversee the company finance IT system to streamline financial processes and enhance data accuracy.
• Control and evaluate the organization's fundraising plans and capital structure to support growth objectives.
• Manage vendor relationships to negotiate favorable terms and ensure cost-effective financial services.
• Manage internal and external audits/exams by the FDIC and others as required.
• Ensure the bank adheres to all relevant federal, state, and local regulatory requirements, including FDIC, OCC, and Federal Reserve regulations.
• Coordinate with external auditors and regulators to maintain compliance and address any financial issues promptly.
• Perform risk management by analyzing the organization's liabilities and investments, identifying potential risks, and implementing risk mitigate strategies.
• Lead and mentor a high-performing finance and accounting team, fostering a culture of accountability and continuous improvement.
• Collaborate with business unit leaders and executives to drive profitability and identify opportunities for revenue growth.
• Present financial reports and updates to the Board of Directors, investors, and key stakeholders.

Requirements

• Bachelor's degree in accounting, finance, or a related field.
• Minimum of 10 years of relevant work experience.
• Strong technical knowledge of U.S. GAAP and experience with FDICIA/SOX requirements.
• Proficient in the preparation and filing of Call Reports with the appropriate regulatory authorities.
• Working knowledge of the Community Reinvestment Act (CRA), Minority Depository Institution (MDI), and Community Development Financial Institution (CDFI) programs.
• Understanding of regulatory compliance and reporting requirements specific to multi-state community banks.
• Knowledge of financial risk management practices, interest rate risk, liquidity risk, and market risk.
• Comprehensive understanding of the Current Expected Credit Loss (CECL) accounting standard.
• Proficiency in financial modeling and forecasting techniques.
• Knowledge of banking operations, lending practices, deposit products, and treasury management services.
• Understanding of banking laws, regulations, and industry best practices relevant to community banks.
• Awareness of emerging trends, technological advancements, and industry benchmarks in the financial services sector.
• Knowledge of cybersecurity and data privacy practices.
• Familiarity with corporate governance principles and experience in working with board committees.
• Knowledge of relevant accounting software, financial management systems, and data analytics tools.

Nice-to-haves

• Certified Public Accountant (CPA) preferred but not required.
• Public accounting experience preferred.
• Proficiency in Microsoft Office Suite, QuickBooks, and other relevant financial software.

Benefits

• 401(k) 2% match
• Dental insurance
• Life insurance
• Vision insurance
• Paid holidays
• Paid time off