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Mutual Security Credit Union is a financial cooperative owned by the members it serves through its branches in Danbury, Norwalk, Stratford, Shelton, and Watertown. Headquartered in Shelton, Connecticut, MSCU has been servicing Fairfield, New Haven and Litchfield counties for over 60 years and takes pride in a total membership of over 28,000 and assets over $350 Million.
GENERAL FUNCTION
The Vice President, Finance is responsible for developing, coordinating and maintaining an integrated financial system which includes Accounting, Budgeting, Revenue Assessment, Deposit Operations and Financial Reporting for the Credit Union. In conjunction with the Senior Management Team, the VP, Finance will develop and assist in the implementation of Strategic Goals to mitigate risk and ensure long-term sustainability and growth.
MAJOR RESPONSIBILITIES
1. Embrace the movement to foster change and make a meaningful impact within the Community by exhibiting our corporate values of Integrity, Empowerment, Respect and Commitment in an effort to promote professional growth and prosperity within the organization and the neighborhoods that we serve.
2. Oversee Asset Liability Management (ALM) of the Credit Union, specifically used for budgeting, maturity forecasting, GAP Analysis, income stimulation and ratio analysis. Keeps Senior Management Team, Board of Directors and Regulators apprised of risk and develops strategies to mitigate those risks. Manage allowance for loan loss/CECL accounts, monitoring charge offs and ensuring the account is properly funded.
3. Analyze financial data and use financial models for forecasting. Track revenue and gross margin by business unit and expenses by cost center. Prepare reports on financial performance tailored to the needs of leadership. Evaluate financial performance by comparing and analyzing actual results with plans and forecasts.
4. Serve as primary contact for the annual financial audit with established accounting firm.
5. Act as liaison with investment advisors and approve all investment trades in accordance with ALCO strategies.
6. Serve as primary contact with NCUA and State Examiners during all examination periods.
7. Responsible for establishing and maintaining effective and efficient financial reporting programs at the organizational, member and product levels including profitability measurements.
8. Identify, recommend, develop and support the implementation of new business initiatives and opportunities. Perform merger and acquisition analysis.
9. Develop and manage the institution’s budget, projecting future revenues and expenses. This involves analyzing trends, making financial forecasts, and preparing financial models to ensure budgeted net worth and income goals are achieved.
10. Perform financial analysis of new products and services offered by the Credit Union, acting as custodian of funds, securities and assets of the organization to ensure maximum growth within regulatory guidelines.
11. Oversee Credit Union Cash Management, initiating advances, when appropriate, from approved CU lines of credit.
12. Assist in developing pricing strategies for loan and deposit portfolio to align financial strategy with overall business goals and to provide financial insights that can drive departmental strategies.
13. In collaboration with Senior Management Team develop, implement and analyze retail sales and service strategies and collaboratively establish and implement the Strategic Plan,
14. Ensure that the financial practices of the Credit Union comply with regulatory requirements, overseeing the accuracy, certification and timely submission of all regulatory reports.
Note: This list of essential responsibilities is not exhaustive. It may be supplemented as necessary from time to time.
POSITION REQUIREMENTS
1. 4-year degree in Accounting/Finance. MBA and/or CFA preferred.
2. 10 years experience in a financial institution.
3. 3+ years supervisory experience.
4. Excellent written and verbal communications to work with all levels of management, employees, regulators, and other service providers.
5. Strong management skills and assertive presentation skills.
6. Strong demonstration of analytical skills to assist in evaluation of various financial matters.
7. Ability to understand organization’s vision, mission and strategies and form goals.
8. Ability to organize, link and communicate the day-to-day activities to the long-term vision.
9. Ability to challenge established way of doing things by sharing resourceful ideas and solutions.
10. Ability to organize people and activities; understand how to separate and combine tasks into efficient work flow.
11. Ability to simplify complex processes to achieve more from fewer resources.
12. Knowledge of accounting software, database software, and internet and word processing software.
13. Strong desktop computer skills including MS Excel, Word PowerPoint and Access.
14. Operates with high integrity and in compliance with state and federal laws and regulations pertaining to business and employment.
EQUAL OPPORTUNITY EMPLOYER M/F/V/D
