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Rockbridge Search & Recruitment 26/07/2021

Chief Financial Officer

Ref #: 56
Location: California California 93940
2021-10-26
Salary: Competitive
Sector: Banking
Type: Permanent

Chief Financial Officer directs and oversees all the financial activities of the corporation including preparation of internal and external financial reports as well as summaries and forecasts for future business growth and economic outlook. The CFO also manages the company’s financial situation by observing the current capital structure and developing long-term financial goals. The CFO plays an integral role in driving the success of the company by monitoring financial performance and developing strategic and profitable financial plans.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Strategic Plan

  • Is a strategic partner in the development and execution of Bank’s strategic plan.
  • Manages implementation of strategic initiatives identified by Investment Committee.

Assets and Liability Management

  • Delivers shareholder value through the effective management of investment portfolio, including considerations of liquidity, investment returns, and interest rate risk.
  • Oversees management of liquidity levels of the Bank, including cash balances, Federal funds lines, secured sources of liquidity, access to brokered deposits, and exposure to deposit concentrations.
  • Manages capital position and execution of Bank’s capital plan. Recommends actions to manage risk and enhance shareholder value. Implements board-approved corporate actions.

Financial Planning and Reporting

  • Leads annual budget planning and oversight in collaboration with the Executive team.
  • Directs the preparation of all financial reports, including income statements, balance sheets, reports to shareholders, tax returns, and reports for government regulatory agencies.
  • Oversees accounting departments, budget preparation, and internal financial reporting functions. Reviews reports to analyze budgets, forecasts, and projections of revenue and expenses against actuals, and suggests methods of improving operating results.
  • Manages investment portfolio, including considerations of liquidity, investment return and interest rate risk.
  • Researches and prepares technical accounting analyses. Oversees implementation of new accounting standards and prepares technical accounting entries, such as the income tax accrual, as necessary.
  • Organizes annual shareholders’ meetings and prepares related materials including, proxy statements.
  • Manages all financial compliance and filings required by regulatory agencies which may include DBO, FDIC, and FINRA.
  • Participate in Board meetings, making presentations regarding financial, operation results, strategy, corporate actions, and similar matters.

Financial Governance and Operations

  • Chairman of Management ALCO and Investment Committee
  • Performs the duties of the Corporate Secretary set forth in the by-laws.
  • Participate in Board meetings, making presentations regarding financial, operation results, strategy, corporate actions, and similar matters.
  • Ensures compliance and adherence to Regulatory and Compliance initiatives specific to Finance (i.e.) CECL.
  • Manages third-party relationships of providers specific to Accounting and Finance.
  • Supervise all federal, state, and local tax planning and reporting to ensure compliance and minimize liabilities.
  • Analyzes risk profile and places corporate insurance coverage accordingly.
  • Maintains relationships with correspondent banks and other lenders; supervises renewals of borrowing lines.
  • Co-administrator of Section 401(k) Plan. Review employee investment offerings, fund performance regulatory compliance, and annual regulatory filings.

People Responsibilities:

Each executive officer of the Bank is responsible for:

  • fostering a culture of open communication, collaboration, and trust to engage staff to work together to help lead the bank to successful outcomes.
  • providing continuous learning and development opportunities to support the next generation of leaders.
  • regularly identifying, developing, and supporting all initiatives for excellence in customer service, customer relationships and future business opportunities.
  • and establishing and maintaining strong vendor relationships in support of vital ongoing business needs and to comply with laws, policies, and procedures.
QUALIFICATIONS
  • Bachelor’s degree in business administration/finance or related field, CPA and/or MBA a plus.
  • 7+ years of experience in the banking industry as a senior financial officer or well-seasoned and experienced controller.

Working knowledge of:

  • Federal and state rules and regulations as they apply to banking.
  • Organization and operations of a financial institution.
  • Research methodologies applicable to the analysis of bank policies and procedures.

Ability to:

  • Maintain confidentiality of files and privileged information.
  • Demonstrate independent thinking and behavior, where critical thinking and innovation are needed given work presents new and unique situations.
  • Understand, interpret, and apply complex laws, rules, and regulations as they apply to compliance in a financial institution.
  • Demonstrate persistence and confidence to drive activities to desired outcomes while managing risk and reward.
  • Communicate effectively and directly both verbally and in writing, including skill to prepare complex reports and procedures utilizing technical, financial, and statistical information.
  • Establish and maintain effective relationships with those contacted in the course of work.
  • Solves departmental or organizational problems utilizing new, creative, and analytical approaches.
  • Use equipment and materials in a safe and acceptable manner, follow established safety procedures, use appropriate safeguards, and observe common sense rules of safety in all on-the-job activities.
  • Proficiently use a personal computer. Possess a thorough knowledge of Microsoft Office and all applicable applications. Must be diligent in the use of the Internet and able to review government and regulatory web sites.
  • Use equipment and materials in a safe and acceptable manner, follow established safety procedures, use appropriate safeguards, and observe common sense rules of safety in all on-the-job activities.
  • Proficiently use a personal computer. Possess a thorough knowledge of Microsoft Office and all applicable applications. Must be diligent in the use of the Internet and able to review government and regulatory web sites.
SUPERVISORY RESPONSIBILITIES

This position will supervise one or more individuals.

PHYSICAL DEMANDS

Physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • While performing the duties of this job, the employee is regularly required to talk or hear. Employee frequently is required to sit. Employee is occasionally required to stand; walk; use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; climb or balance; stoop, kneel or crouch.
  • Employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception, and the ability to adjust focus.
WORK ENVIRONMENT

Work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • While performing the duties of this job, the employee is occasionally exposed to the risk of electrical shock.
  • Noise level in the work environment is usually moderate.
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