Job Details
Job description
Market USA FCU, a $139 million asset credit union in Laurel, MD is seeking a VP of Finance/Controller to join our team. The VP of Finance/Controller will manage our Accounting/EFT Department. This position has a high opportunity for growth within the credit union. This is a hybrid position with in-office presence required at our Laurel, MD headquarters location.
Position Purpose/Summary
Prepares financial statements. Responsible for managing and directing the accounting, EFT, and electronic card service operations of the credit union. Ensure department operations are compliant with all credit union policies and procedures as well as laws and regulations. Work closely with the CFO in overall financial management of the credit union's assets.
Essential Job Functions:
Primary accountability for specific functions and results. The list of essential functions is not exhaustive and may be supplemented or changed as necessary.
- Oversees the daily operations of the department, including ACH, check processing, debit/ATM card ordering, and wire transfers. Assigns and monitors tasks of subordinates, provides training, sets schedules, ensures policies and procedures are followed, and deadlines are met. Tracks progress towards goal achievement. Makes suggestions to improve operations and procedures. Implements changes in operations, policies, and procedures as directed. Understands duties of direct reports and assists with coverage of duties when subordinates are absent.
- Prepares financial, statistical, and accounting records of the Credit Union. Ensures accounting functions are completed in accordance with established Credit Union procedures and generally accepted accounting principles (GAAP) and any other applicable regulations.
- Maintains and reconciles General Ledger for loans, shares, investments, fixed assets, prepaid expenses, accrued income and expenses.
- Manage and prepare the following reports: National Credit Union Administration (NCUA) quarterly call report; Federal Home Loan Bank (QCR); VISA/Plus/Interlink quarterly report; escheatment reports; and other internal/external reports, as required.
- Oversee cash management functions of the credit union to ensure cash funds are reconciled and bank account balances are managed daily.
- Stays informed of developments in the accounting and EFT fields. Stays abreast of changing NACHA, GAP, VISA, FED regulations and other governmental and legal requirements.
- Process payroll and related reports and for all credit union employees. Ensures completion of all required federal and state payroll tax reporting in conjunction with the payroll processor. Manages benefit payments.
- Oversees accounts payable function.
- Completes performance appraisals, establishes goals and action plans, and sets up performance improvement plans and disciplinary actions. Participates in hiring and firing decisions, and recommends promotions. Approves time records and time off requests. Motivates, coaches, and mentors staff. Resolves employee conflicts, identifies problems, and gives input to management on problem resolution. Acts as a mediator between staff and management personnel.
- Works with auditors/examiners on year-end and comprehensive audits/exams.
- Assist the CFO with the management of CECL.
- Performs other job related duties as assigned.
Performance Measurements:
- Effectively supervise assigned personnel, producing a productive, well-trained, and motivated staff. Ensure staff makes contributions towards achievement of Credit Union goals and direct reports achieve X% of individual goals.
- Ensure the Credit Union's books and general ledger accounts are always in balance and current and ensure timely payment of bills, maintaining supporting documentation.
- Ensure the department meets all deadlines with respect to settlement activities, with minimal errors and with no errors that result in losses to the Credit Union.
- Ensure all assigned reports and projects are prepared and completed in a timely, accurate and professional manner.
- Provide informed, professional and accurate service and support to all members and associates.
- Communicate effectively with management. Communicate issues in a timely and appropriate manner. Liaison between staff and management.
- Complete employee performance appraisals and handle performance issues in an appropriate and timely manner.
Position Qualifications:
To perform at a proficient level and be fully qualified, a person would be expected to have:
- Education (Minimum Needed): (1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree or (3) completion of a specialized certification or licensing.
- Experience (Minimum Needed): Five plus years of similar or related experience.
- Specialized Knowledge Needed for Performance of Job: Thorough knowledge of generally accepted Accounting principles (GAAP), the financial markets, Credit Unions and the analysis and reporting of financial data. Spreadsheet Software Proficiency in Microsoft Excel and other Microsoft Office software. Supervision, assists, coordinates, manages, and directs others. Organizes work flow to accomplish established objectives, delegates tasks, ensures adequate training, evaluates subordinate effectiveness, and administers necessary discipline.
Physical Requirements:
This job is in an office environment. The employee must have the ability to effectively communicate and interact with other staff and the public (members, potential members, vendors). The employee must have the physical capability to effectively use and operate various office-related equipment including, but not limited to, a computer, telephone, calculator, copier, filing cabinet, scanner and fax machine. The employee may be required to occasionally lift and carry up to 20 lbs. While performing the duties of this job, the employee is regularly required to see, talk, hear, use hands to finger, handle or feel and reach with hands and arms. The employee is often required to move around the office.
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.