Chief Financial Officer (CFO)

Position Summary:
As an essential member of the senior management team, the CFO is responsible for the overall financial governance, policies, and administrative operations within the Accounting, Finance, and Payments and Facilities Departments. This role has a high degree of responsibility and accountability for the performance of these departments. This includes but is not limited to financial reporting and communication, financial, business planning and analysis, asset-liability management, and board of directors reporting and relations.

Major Duties and Responsibilities:

Trusted Strategic Leader:
• Manages the balance sheet via analysis of credit union financial condition, balance sheet makeup, market analysis and direction, and strategic and tactical opportunities, that are identified or present themselves.
• Sees the “big picture” and is a leader in driving strategic direction to achieve balance sheet goals and to maintain and improve the overall financial condition of the Credit Union.
• Supervises and sets the tone and direction for the leadership of the Finance, Accounting, Payments, and Facilities departments including processes and personnel development.
• Recognized as the Credit Union’s subject matter expert pertaining to all policies, practices, and procedures for Accounting and Finance.
• Presents timely and accurate periodic reporting, analysis, and communication to Senior Management and the Board of Directors.
• Active participant at both Internal Meetings and Board Committee Meetings. Serve as Chairman of the Internal Asset Liability Management (ALM) committee.
• Provides a blend of strategic and operational competencies to help drive the Credit Union’s financial initiatives and strategies to enhance member value.
• Lead, educate, consult, and provide excellent customer service on the Credit Union’s financial philosophy, performance, and long-term plans.
• Work to create a positive image of the Credit Union through various avenues including community involvement and participation in professional associations.
• Responsible for ensuring Credit Union Succession Plans are met in the departments managed.
• Responsible for complying with Cobalt’s Affirmative Action Plan, ensuring all individuals receive equal employment opportunities.
Financial Reporting Governance, Oversight, and Compliance:
• Develop and direct the development and implementation of the Credit Union’s fiscal strategic plans, initiatives, and policies, including the annual budgeting process and periodic forecasting process.
• Assists the SVP, Finance in coordinating the Credit Union’s fiscal year-end audit processes and scheduled regulatory safety and soundness examinations.
• Assists HR in the reports and analysis related to the Credit Union’s employee and senior management incentive plans.
• Provide financial input and leadership relative to decisions made on business challenges, potential mergers and acquisitions, and potential new business partnerships or alliances.
• Provide oversight and analysis for:
o Peer Group and Comparative Market Analysis
o Corporate Insurance Policies
o Industry trends and changes that could impact the Credit Union
Financial Administration and Fiduciary Responsibilities
• Board meeting preparation, reporting, and communication.
• Prepare information and analysis provided for the annual member meeting.
• Authorized corporate signer on documents and resolutions.
• Serve as fiduciary of the Credit Union’s 401(k) plan.
• Be an advisor from the financial and compliance perspective on any vendor contracts into which the Credit Union may enter.
Asset-Liability Management and Balance Sheet Management:
• Responsible for the inputs, assumptions, projections, and analysis for the third-party ALM modeling process used for both Liquidity and Interest Rate Risk Management.
• Responsible for the management of Credit Union’s Investment Portfolio and Whole Sale Funding Portfolios.
• Active participant with Senior Management in determining the Credit Union’s deposit and loan pricing, including effective net interest margin management.
• Active participant at the quarterly Board Risk Management Committee meetings.
• Responsible for the management of the following risk management areas:
o Current and Contingent Liquidity Risk Management
o Overall Interest Rate Risk Management
o Interest Rate Hedging Policy and Management
o Capital Management and Planning
Data Reporting and Analysis
• Provides oversight and management for all performance and profitability initiatives, analysis, and reporting.
• Assists the SVP, Finance in providing ad-hoc reporting and pro-forma analysis as needed.
o Assists the SVP, Enterprise Risk Management & Internal Audit with leading the organization’s compliance and Information Security programs.
o Responsible for building member relationships by actively uncovering and evaluating members’ financial needs, offering products/services to meet those needs, and answering questions, if needed, regarding our products and services.

Qualifications:

• Bachelor’s degree with an emphasis in Accounting required, Master’s degree preferred.
• At least 10 years related appropriate industry experience, preferably in the financial industry.
• Certified Public Accountant (CPA) required.
• Forward-thinking and creative individual with high ethical standards.
• Strategic visionary with sound technical skills, analytical ability, good judgment and strong operational focus.
• Proven track record of facilitating progressive organizational change and development.
• Strong mentoring, coaching and leading experience in a team with diverse levels of expertise.
• An intelligent and articulate individual who can relate to people at all levels of an organization and possesses excellent communication skills.
• Ability to motivate teams to produce quality materials within strict time frames as well as simultaneously manage several projects.