SVP/Chief Financial Officer

Primeway Federal Credit Union - Houston, TX

Full-time - Senior

Houston, TX

Credit Intermediation and Related Activities

About the position

The position is responsible for safeguarding, controlling, and accounting for the Credit Union's assets and fiscal operating results in accordance with Generally Accepted Accounting Principles (GAAP) and NCUA regulations. The individual will counsel senior management on fiscal control and profitability, prepare, present, and interpret financial reports to management, and ensure adherence to NCUA rules and regulatory compliance to accurately reflect the financial position of the Credit Union. The role also involves evaluating and assisting with decisions related to the purchase and sale of land and buildings. In addition, the position directs the Accounting and Electronic Payments departments, providing leadership, training, and supervision while ensuring a high level of internal customer and external member service. The individual will assist in setting and attaining established financial goals for both the Credit Union and the departments. Responsibilities include handling special projects, managing vendor relations and contracts, and representing Credit Union management on various industry and community boards and committees. The role requires overseeing the preparation of all financial reports, including income statements and balance sheets, and reports for government regulatory agencies and the board of directors. The individual must possess a thorough understanding of the Asset Liability Management function, enabling active oversight and management of Interest Rate Risk, Liquidity Risk, and Concentration Risk. The position also involves developing and maintaining ALM, Concentrated Risk, Liquidity, and Investment Management policies, and preparing annual organizational and departmental budget projections based on input from executives. The individual will study long-range economic trends, perform financial modeling, evaluate merger opportunities, and play a positive role in the development and growth of assigned department staff. Establishing clear direction for direct reports, setting objectives, conducting regular follow-up meetings, and preparing financial reports and presentations for senior management and the Board of Directors are also key responsibilities. The position requires a commitment to ethical practices, respect for diversity, and adherence to EEO policies.

Responsibilities

• Oversees Accounting and Electronic Payments departments; hiring qualified team leaders, providing vision, setting goals, establishing appropriate accountability, and ensuring tools and training are in place to support compliance and internal and member service.
• Directs the preparation of all financial reports, including income statements, balance sheets, and reports for government regulatory agencies and board of directors.
• Possesses a thorough understanding of the Asset Liability Management function enabling active oversight and management of Interest Rate Risk, Liquidity Risk, and Concentration Risk.
• Invests excess funds as determined by ALM model output and liquidity needs to complement the overall Asset Liability Management function, in accordance with applicable policies and regulatory guidelines.
• Develops and maintains ALM, Concentrated Risk, Liquidity, and Investment Management policies and reviews with the Board annually.
• Prepares annual organizational and departmental budget projections based on timely input from executives; reviews expenditures to ensure compliance with budgets; and notifies appropriate executives in the event expenditures exceed budgets.
• Maintains advanced knowledge and awareness of financial industry status and trends.
• Studies long-range economic trends and performs financial modeling in support of budgetary and strategic initiatives including the preparation of financial analyses and financial forecasts.
• Evaluates and recommends direction on merger opportunities.
• Takes an active role in the credit union's long-term and short-term strategic planning.
• Plays a positive role in the development and growth of assigned department staff through excellent communication skills, both verbal and written, along with strong delegation skills assuring a highly cross-trained staff.
• Establishes clear direction for direct reports, sets objectives, conducts regular follow-up meetings, and conducts performance evaluations.
• Prepares financial reports and presentations for senior management and the Board of Directors as required.
• Responds to inquiries or refers inquiries to the appropriate department or person, and exhibits the necessary follow-through with internal customers, members, vendors, and/or staff involved.
• Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for personal actions.
• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes a working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
• Establishes and maintains functional cost accounting systems for determining branch and product profitability and monitoring growth.
• Provides corporate financial governance, leadership, and credibility both internally and externally based on superior business acumen and integrity.
• Presides as Chairperson of the credit union's Asset/Liability Committee and Profitability Committee. Assists with the Pricing Committee.
• Ensures that the credit union is in compliance with all policies under this role's control as established by the Board of Directors.
• Keeps the President/CEO fully informed of the credit union's financial condition and factors influencing the credit union's financial position.
• Works with the Internal Auditor to provide the necessary reports and required historical data as requested by third-party audit firms and/or examiners.
• Complies with BSA regulations when performing all job requirements, and stays abreast of updates/requirements of BSA/OFAC/CIP through completion of training courses assigned annually by supervisor as well as attendance at all employee meetings discussing BSA compliance activities.
• Gathers, reviews, and maintains an archive of CUSO, TNB, Corporate Credit Union, and Investments Banks, 3rd party annual reviews and audited financials to evaluate risk.
• Reviews vendor contracts, interviews prospective vendors, and makes recommendations to President and Board of Directors for approval.

Requirements

• Ten years or more in the financial services industry, with the majority of time in a financial institution in a senior-level officer position and a 4-year degree from an accredited institution; or Seven years or more in the financial services industry, with the majority of time in a financial institution in a senior-level officer position and a 4-year degree from an accredited institution majoring in finance, business, economics, or a related field.
• Sound knowledge of credit union regulations and laws.
• Up-to-date knowledge of local, state, and national trends in the credit union industry.
• Good knowledge of the credit union movement and philosophy.
• Excellent written and oral communication skills.
• Excellent analytical and problem-solving skills.
• Excellent organizational skills.
• Sound decision-making skills.

Nice-to-haves

• CPA and other industry designations preferred.