Credit Union Chief Financial Officer

Chief Financial Officer

BASIC MANAGEMENT FUNCTIONS

Under the direction of the President, it is the responsibility of the Chief Financial Officer to: (1) establish operating objectives that will provide the Credit Union with operational control and credibility of reporting with Credit Union personnel, members, NCUA and the general public in an efficient manner and overall departmental operations that are consistent with Credit Union objectives and policies in accordance with NCUA regulations and, (2) plan, organize, actuate and control operations of the department so that the predetermined objectives may be accomplished and that member relations are developed and maintained. 

The CFO is accountable to the President.

SPECIFIC MANAGEMENT RESPONSIBILITES

A.  To define, formulate and recommend to the President specific Accounting Department objectives that will be in accordance with the Credit Union’s overall profit and member service objectives.

B.  To prepare and recommend to the President a program of activities, with a related revenue and expense budget, for accomplishing the approved objectives efficiently and within cost limitations, through the efforts of the Accounting Department personnel. 

C.  To formulate, standardize and recommend to the President, accounting policies and procedures which will maintain adequate control over operations and of the recording and measurement of the Credit Union’s financial operations and position.

D.  To develop, recommend to the President, a Supervisory Committee internal auditing program and through the internal audit function be generally responsible for observance of all Credit Union approved policies and procedures.

E. To develop, recommend to the President, and supervise recording and reporting functions and requirements of the Credit Union (receipts, disbursements, payroll, general ledger, etc.)

F. To assist in the investment and disbursement of Credit Union funds as directed by the President, and provide recommendations regarding the purchase or sale of investments.

G.  In cooperation with the President and other department heads, to develop, recommend and supervise operations of an adequate budgeting system for the Credit Union.

H.  To cooperate with NCUA and the Supervisory Committee independent auditors in periodic review of the Credit Union’s financial records and statements of operations and financial position. 

I.  To generally supervise the determination and payment of all costs, expenses, and other disbursements of the Credit Union. 

J.  To oversee the operation of the data processing system and be responsible for the upgrading and maintenance of all computer hardware and software and the training and assistance of all systems users. 

JOB KNOWLEDGE REQUIREMENTS

1. Minimum of a Bachelor of Science degree in Accounting, Finance or Business Administration or an education and work experience background that would provide the equivalent of the college education and training. 

2. Should have minimum of 5 years of financial institution background experience and possess a strong knowledge of computer operations.

3. Experience should include supervision of personnel, decision making, working with the public, problem solving, and working within a budget.

4. A general working knowledge of the regulations, policies and procedures of the Credit Union and NCUA as they relate to the accounting function.