VP of Finance – Reporting to the Chief Finance Officer

Department Description:

The Finance Department is responsible for the Bank’s fiscal operating results utilizing generally accepted accounting principles, such as cost accounting, budgets, regulatory agency and government reports ensuring the safeguard of Bank assets.

The Finance Department assures compliance with all Bank policies and procedures, as well as, all applicable state and federal banking regulations.

Position Description

The VP of Finance will play an instrumental role in the overall success of the organization through effectively planning, organizing, and maintaining internal operational controls. Manages timely and accurate deliverables including; reports, financial analysis, cost and profitability accounting and assists with the annual budgeting processes.

Primary Duties and Responsibilities *

The VP of Finance performs a wide range of duties including the following:

Financial Accounting and Reporting

• Assists the Chief Financial Officer, VP
• Prepares, develop and maintain timely and accurate financial reports that are appropriate for the users and in accordance with generally accepted accounting principles (GAAP)
• Directs the preparation and quality control of financial reports, including reports to shareholders, manager’s regulators and external accounting firms
• Reviews GL for budget variances or corrects
• Develops, implements, and ensures compliance with internal financial and accounting policies and procedures
• Manages and prepares all supporting information for the annual audits, board meetings, and the external auditors as necessary
• Documents and maintains complete and accurate supporting information for all financial transactions
• Leads, maintains, develops, backs-up staff, as needed, the financial accounting systems for accounts payable, accounts receivable and applicable controls
• Directs the preparation and quality control of account reconciliations and investment accounts
• Develops or enhances internal accounting controls
• Assists managers by providing key financial data, analysis and insights
• Provides accurate cost accounting
• Develops processes to identify and resolve issues that can provide opportunity to improve financial results
• Develops excel pivot tables to analyze data
• Manages the acquisition of capital assets and ensure that assets are properly recorded, inventoried, amortized, and disposed of as appropriate
• Calculates, tracks and records dividend payments
• Works with the Banks Leasing Division to prepare financial reporting, reconciliation and data entries
• Backs-up all Finance staff, as needed

Budget preparation

• Prepares budget and forecast for the annual budget in consultation with the CFO

Project Responsibility Accounting

• Updates and Implements a new Bank core system
• Assists and designs robust reports on core
• Completes ad hoc projects and reports as assigned

Information technology

• With direction from the CFO evaluates the need for new technology to meet the organization’s financial data processing, control, and reporting requirements
• Advises on appropriate technology that meets the organization’s information requirements and financial resources

_ Risk management_

• Monitors risk management policies and procedures to ensure that program and organizational risks are minimized
• Maximizes income where possible and appropriate

Qualifications

• Bachelor’s degree from a college or university in Accounting, or Finance

• Minimum 5 years relevant accounting experience. Work related experience should consist of an in-depth background in accounting and accounting operations management.
• Banking experience preferred
• Chartered Accountant, Certified General Accountant, or Certified Management Accountant designation is an asset.
• Knowledge of generally accepted accounting principles
• Knowledge of federal and state legislation affecting finance

Personal Characteristics

• Behaves Ethically: Understand ethical behavior and business practices and ensure own behavior and the behavior of others is consistent with these standards and aligns with the values of the organization

• Focused on Client Needs: Anticipate, understand, and respond to the needs of internal and external clients to meet or exceed their expectations within the organizational parameters.
• Self-motivated and responsible

Required Skills

• Excellent with detail, analytical, project management and organizational skills.
• Advanced knowledge of general accounting, budgeting, and related accounting and record keeping systems in a financial institution
• Makes Decisions: Assess situations to determine the importance, urgency and risks, and make clear decisions which are timely and in the best interests of the organization
• Organized: Set priorities, develop a work schedule, monitor progress towards goals, and track details, data, information and activities.
• Planned: Determine strategies to move the organization forward, set goals, create and implement actions plans, and evaluate the process and results.
• Communicates Effectively: Speak, listen and write in a clear, thorough and timely manner using appropriate and effective communication tools and techniques
• Solve Problems: Assess problem situations to identify causes, gather and process relevant information, generate possible solutions, and make recommendations and/or resolve the problem

Job Type: Full-time

Required education:

• Bachelor’s

Required experience:

• Banking Expereinces: 1 year
• accounting: 5 years