Corporate Controller

Northeast Bank - Boston, MA

Full-time - Mid Level

Hybrid - Boston, MA

Credit Intermediation and Related Activities

About the position

Northeast Bank is seeking a Corporate Controller who will be responsible for overseeing the accounting policy, internal and external financial reporting, and financial reporting controls, as well as measuring the bank's profitability. This role is crucial in ensuring the integrity of the financial reporting process and compliance with regulatory requirements. The Corporate Controller will formulate and administer the monthly financial close process, which includes reviewing the Board financials and monitoring the monthly, quarterly, and annual results against the budget. Additionally, the position involves preparing the monthly Board and Loan and Investment Committee packages, ensuring that all financial data is accurate and timely. The Corporate Controller will also coordinate the compilation and filing of FDIC reports, including Forms 10-Q, 10-K, Proxy Statement, and other regulatory reporting. This role requires oversight of the preparation of investor presentations and analytics for quarterly earnings calls, as well as reviewing proposed loan modifications for compliance with generally accepted accounting principles. The Corporate Controller will manage the SBA 7(a) loan sale and reporting process, including the review of sale summaries and recording monthly income and loan activity. In collaboration with the Assistant Controller, the Corporate Controller will prepare the Allowance for Credit Losses on a quarterly basis and review the SBA servicing asset valuation to record any impairment or recovery. The position also involves performing monthly analysis and reviewing purchased loan pools and purchase account reconciliations. The Corporate Controller will coordinate the annual Proxy Statement process and manage the stock-based compensation process, ensuring compliance with all relevant regulations. This role requires maintaining strong internal controls over financial reporting and assisting in SOX 404 compliance. The Corporate Controller will act as a resource for training line areas on internal control activities and assist with the preparation of items requested by internal and external auditors. The position also involves monitoring and assessing the impact of relevant FASB, SEC, and other regulatory guidance to ensure compliance, as well as overseeing the preparation of the income tax provision and handling state notices. The Corporate Controller will assist in the oversight of accounts payable, general ledger reconciliations, and fixed assets, and will play a key role in the preparation of the bank's annual budget.

Responsibilities

• Formulate and administer the monthly financial close process, including review of the Board financials and monitoring of monthly, quarterly, and annual results to budget.
• Maintain the integrity of the general ledger.
• Perform ad hoc analysis.
• Coordinate the compilation and filing of FDIC reports (Forms 10-Q, 10-K, Proxy Statement, 8-K, 3, 4, & 5) and other regulatory reporting.
• Oversee the preparation of investor presentations and analytics for quarterly investor earnings calls.
• Oversee the review of proposed loan modifications for compliance with generally accepted accounting principles.
• Oversee the SBA 7(a) loan sale and reporting process, including review of sale summary, booking gain on sale, and recording monthly income and loan activity.
• In conjunction with the Assistant Controller, prepare the Allowance for Credit Losses on a quarterly basis.
• Review the SBA servicing asset valuation on a quarterly basis to record impairment or recovery on servicing asset.
• Perform monthly analysis, review of purchased loan pools and purchase account reconciliations.
• Coordinate annual Proxy Statement process, including annual meeting and related filings.
• Manage the stock-based compensation process, including coordination with the transfer agent and plan administrator, including issuances, vesting, and forfeitures of awards, etc.
• Assist in answering questions that arise in the preparation/review of the quarterly Call Report for consistency with financial statements.
• Maintain strong internal controls over financial reporting and assist in SOX 404 compliance.
• Act as a resource and provide training to line areas on internal control activities.
• Assist with the preparation of items requested by internal and external auditors as part of their on-going audit processes, including coordinating internally with other departments.
• Monitor, review and assess impact of relevant FASB, SEC and other regulatory guidance to ensure compliance.
• Work with external accounts, internal auditors, legal counsel, and regulators.
• Oversee the quarterly and annual preparation of the income tax provision, quarterly estimated tax payments, and handling of state notices.
• Assist in the oversight of accounts payable, general ledger, reconciliations, and fixed assets.
• Assist in the oversight of investments, liquidity, and interest rate risk to ensure timely and accurate communication, monitoring and reporting.
• Assist in the preparation of the Banks annual budget.
• Successfully pass technical and regulatory examinations required by the Bank.

Requirements

• Detailed knowledge of the core operating system
• Detailed knowledge of bank operations
• Proficient with MS Outlook, Excel, Word, and PowerPoint
• Working knowledge of SEC and Regulatory reporting requirements
• Detailed knowledge and application of accounting principles
• Demonstrated proven and effective supervisory skills
• Four-year college degree, preferably in Accounting
• CPA designation
• Seven-year working experience in banking or related financial reporting experience with a publicly traded company

Benefits

• Competitive compensation
• Generous PTO
• Hybrid work environment dependent on the role