Chief Financial Officer (1660)
***Retained Search Client***
***St. Charles, MO Location***
The Chief Financial Officer is responsible for directing the fiscal functions of the corporation in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board, the Securities and Exchange Commission, and other regulatory and advisory organizations and in accordance with financial management techniques and practices appropriate within the banking industry.
As the leader of the Accounting and Finance department, the CFO is responsible for partnering with the Controller to assign responsibilities and design processes within the department to ensure timely and accurate financial reporting. This includes working with the Controller to collaborate with other departments to ensure that processes and internal controls are aligned with the responsibilities of the Accounting department.
Essential Duties And Responsibilities
- Oversee the accounting and finance functions including accounts payable/receivable, general ledger entries and account reconciliations, prepaid/accrued expenses, due from bank accounts, fixed assets, pledged securities, daily cash position, incentive plan payments, etc.
- Oversee the monthly production and analysis of both stand alone and consolidated financial statements for the holding company, the bank, and all subsidiaries.
- Oversee the preparation of management/board reports which compare actual results to budget. Review financial analysis on individual income and expense items to understand and evaluate variances to budget and prior year. Influence management decision making based on the analysis developed by the Accounting department to improve financial performance.
- Review all expenditures to ensure the propriety of the amount, the appropriateness of the accounting treatment, and the existence of proper authorization.
- Ensure quarterly tax payments are made and year-end tax returns are filed in a timely manner.
- Coordinate with manager and direct the budgeting process, develop projections of operating costs used in the budgeting process, and the overall asset and liability management plan.
- Member of the Asset Liability Committee, which is the primary forum for discussing and managing the bank’s interest rate risk, liquidity, investment portfolio, balance sheet structure, loan/deposit pricing strategies, key ratios, etc.
- Participate in other policy and decision-making committees including Technology, Audit, Contingency Planning, etc.
- Coordinate with the Controller to ensure the accurate filing of all regulatory financial reports including but not limited to the Quarterly Call Report, Y8, Y9, Y6, Y10 and 12CFR Part 363.
Management of Third-Party Relationships, Audits, Exams
- Manage key vendor relationships including Audit and Tax firm, key technology providers, investment brokers, insurance brokers, stock transfer agent, correspondent banks, etc.
- Assist in leading and coordinating all audits and examinations of the bank and tracking / reporting all audit exceptions to the Board of Directors.
Other Management Responsibilities
- Work with other members of the Senior Management Team to set strategic direction and priorities for the organization and to influence execution.
- Coordinate with manager and other senior managers on organizational design, performance management, incentive compensation plans, and other organizational management topics.
- Manage shareholder relations including all correspondence, transfers, system maintenance, dividend calculations and dividend payout in compliance with the dividend policy and all regulatory guidelines.
- Manage the Bank’s Investment portfolio and BOLI portfolio.
- Assist in formulating the investment and asset/liability management strategy of the Bank. Assist with setting rates and determining proper funding/deposit strategies for the bank in an effort to profitably fund loan growth and remain in compliance with company policy and regulatory guidelines.
- Supervise specialized and large deposit relationships, including public funds.
- Monitor and control the cost of internal operations. In conjunction with manager, review the need for automated systems and recommend the purchase of new equipment or software as required.
- Recommend and implement operational changes designed to improve the utilization of equipment, facilities, and personnel.
- Compare financial reports which detail assets, liabilities, capital adequacy, and performance ratios to the respective Bank Performance Reports to determine trends, costs, margins, and evaluate the efficiency, effectiveness, and compliance with corporate policies and procedures, laws, and government regulations.
- Manage all corporate insurance policies.
- Negotiate all vendor contracts and maintain all vendor files and reports.
- Manage all fixed asset inventory and oversee the upkeep of all buildings leased or owned by the Bank.
- Coordinate and manage the Bank’s internal courier service and facilities manager.
- Work with the Chief Credit Officer, Controller and Loan Administration department to manage the Other Real Estate Owned portfolio.
- Financial Management
- Business Acumen
- Strong Verbal and Written Communication Skills
- Ethical Conduct, Confidentiality
- Strong Leadership Skills
- Performance Management Skills
- Personal Effectiveness/Credibility/Executive Presence
- Strong Problem Solving/Analysis Skills
- Strategic Thinking/Vision
- Technical Capacity
- Ability to independently prioritize and manage multiple priorities that materially impact outcomes for the organization.
This position is responsible for the direct supervision of the Controller and the indirect supervision of all employees in the accounting and finance department. The position carries out supervisory responsibilities in accordance with the organization’s policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Required Education And Experience
- Bachelor’s degree from four-year college or university required, preferably in Accounting or Finance.
- Ten to fifteen years of related hands-on, management/leadership experience and/or training; or equivalent combination of education and experience.
Preferred Education And Experience
Additional Preferred Qualifications
- $175-$210,000 plus bonus formula based on pre-tax profit as well as other components of excellent benefit package.
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