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Vice President of Accounting & Finance

Company: Velocity Credit Union
Location: Austin
Posted on: July 16, 2019

Job Description:

Job DetailsLevel ManagementJob Location Main - Austin, TXPosition Type Full TimeJob Category AccountingDescription Velocity Credit Union is seeking a Vice President of Accounting & Finance (with team of five) who is responsible for maintaining accounting transactions, entries and records and ensuring accuracy of financial statements and reports. The Vice President of Accounting & Finance will establish audit controls and procedures and monitors compliance. This Vice President oversees operation of the department, assigns duties, and educates and motivates staff. They will also monitor input to the forecasting/budget module and prepares reports for management. The Vice President of Accounting & Finance ensures that the Accounting and Finance Department supports the overall goals of the Credit Union and that Accounting and Finance services are delivered professionally and efficiently.

Key Job Functions:



  • Works in close cooperation with management to achieve the operational and strategic goals of the organization. Communicates and works with the CFO as needed to monitor the accounting function and assist in the financial management and planning of the organization.

  • Ensures the general ledger of accounts is in balance and current. Ensures all general ledger accounts are reconciled accurately and timely.

  • Ensures that organization bank accounts are maintained accurately and reconciled timely.

  • Ensures accuracy of financial statements and reports and the timeliness of such reports.

  • Assists in annual budget and monthly forecast preparation and revisions. Monitors budget and forecast throughout the year. Reports and explains variances to budget monthly.

  • Manages the development and implementation of financial information and control systems, including general ledger, budgeting, cost accounting, mortgage accounting and other subsystems.

  • Provides financial analysis for on-going operations and new or proposed projects. Assists with cost/benefit analysis, feasibility studies and special financial statements as needed. Provides input on loan and deposit pricing decisions. Assists with lending and credit quality analysis as needed. Makes recommendations based on results.

  • Educates, trains, motivates, and evaluates staff members. Ensures cross training is performed regularly. Analyzes training needs and develops programs to meet them. Conducts performance appraisals as required. Formulates and implements corrective actions as needed. Manages staffing needs and time off to meet routine periods of higher workload during month end close and quarterly reporting.

  • Directs schedules and coordinates department functions. Provides support and assistance to department personnel as needed.

  • Keeps abreast of changes in rules, regulations, policies and procedures governing Credit Union and adapts Credit Union policies to comply. Enforces accounting guidelines and Generally Accepted Accounting Principles.

  • Develops and implements operational plans, policies, and procedures for the Accounting and Finance Department which further Credit Union objectives. Assigns duties or objectives and monitors results.

  • Makes recommendations for programs, services, or equipment where efficiency or cost savings result.

  • Maintains Credit Union insurance policies at adequate coverage levels.

  • Monitors and reports on Credit Union investment portfolio.

  • Monitors and reports on Asset and Liability Management (ALM) results. Coordinates with ALM vendor to provide data and assumptions for quarterly ALM processing. Ensures ALCO report is accurate and produced monthly for ALCO meetings.

  • Submits monthly board reports.

  • Performs quarterly updates to the allowance for loan and lease losses.

    EXPERIENCE REQUIRED:



    • 10 plus years of accounting experience including supervision of a team

    • Internal or external audit experience a plus

    • General ledger conversions i.e. Fiserv Prologue a plus

    • Credit union or bank finance and operational processes

    • HR administration with an under¬≠standing of salary administration, performance evalua¬≠tion, succession planning and training

    • Generally Accepted Accounting Principles and concepts

    • NCUA rules and regulations, policies and procedures

    • State of Texas Credit Union Department rules and regulations, policies and procedures

    • Asset and Liability Management concepts

    • Budgeting and forecasting processes

    • Regulations specific to Credit Union operations, including Regulation E, Regulation CC, Regulation D, Regulation DD, Regulation J, Regulation GG, Federal Reserve Bank rules and procedures, the Bank Secrecy Act (BSA/AML/& OFAC), CIP, FACTA, Regulation Z (Privilege Pay), Regulation B, Fair Credit Reporting Act, Fair Debt Collection Practices, laws governing use of negotiable instrument, laws governing notary publics, operating rules and regulations of Internal Revenue Service, the Federal Reserve Bank as they relate to member accounts, wire transfers and other related statutes

      PERSONAL ATTRIBUTES:



      • Detailed oriented

      • Can easily communicate analysis/financial recommendations to non-financial people.

      • Coach and mentor

      • Compassionate

      • Role Model

      • Understands how to best distribute workload to the team and cross training initiatives

        EDUCATION:



        • Bachelor's degree in Accounting or Finance

        • CPA strongly preferred



          Work Schedule Monday thru Friday 8:30am to 5:30pm. *Schedules are subject to change based on business need; applicant should be available to work during business hours.*

          Velocity provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, genetics, sexual orientation, national origin, age disability, or status as a covered veteran in accordance with applicable federal, state and local laws.

Keywords: Velocity Credit Union, Austin , Vice President of Accounting & Finance, Executive , Austin, Texas

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