MJK Connections
Chief Financial Officer
MJK Connections, Cedar Rapids, Iowa, United States, 52404
Overview
MJK Connections is partnering with a bank near Cedar Rapids, Iowa on an exciting CFO Search.
We are seeking a dynamic and experienced Chief Financial Officer (CFO). The Chief Financial Officer is responsible for serving as the Bank's lead financial executive overseeing the accounting department and all financial and accounting related operations of the Bank. The position is responsible for adhering to all related generally accepted accounting principles, tax and regulatory laws, rules and regulations to adequately and accurately reflect the financial position of the Bank and its holding company at all times. Participates and assists the Bank in formulating and meeting its overall strategic business plans and goals; conducts financial and management reporting; prepares forecasts and Bank budgets; plans, coordinates, and executes effective processes; develops, implements, and monitors accounting policies, procedures, and practices that maintain strong internal controls throughout Bank operations. Performs direct supervisory duties of department staff, and coordinates staff for coverage in all related areas of the department.
PRIMARY ACCOUNTABILITIES AND RESPONSIBILITIES:
Leads/oversees the Asset Liability Management process.
Co-chairs the ALCO and is responsible for all monthly reporting to the committee. Develops and implements related Investment, ALCO, Risk Management, and Liquidity Contingency Funding policies. Responsible for interest rate risk (IRR) analysis/rate shocks, deposit runoff stress tests, and IRR model back tests in compliance with regulatory requirements. Monitors benchmarking and compliance with all related policies.
With guidance from strategic goals, prepares the Bank's annual operating budget.
Seeks approval of final budget from the Funds Management Committee and the Board of Directors. Analyzes variances from budget and prepares monthly budget to actual variance reports to ensure goals are being met.
Develops, implements, and administers the Bank's financial and accounting related policies.
Responsible for oversight or preparation of various regulatory financial reports including quarterly Call Reports, other reports to the FDIC, the Federal Reserve Bank and the Iowa Division of Banking. Supervises financial statement preparation for the Bank Holding Company and Subsidiaries of the Bank.
Ensures timely preparation of Bank internal financial reports.
These may include monthly Director reports, peer analysis, investment, tax and depreciation accounting, branch and department profitability analysis.
Oversees the Investment Portfolio of the bank.
Chair person of the Investment committee, sets up regular meetings and provides minutes of the meetings. Works with the bond accounting firm to ensure accurate and timely reporting of investment transactions.
Provides oversight for appropriate segregation of duties.
Completes an annual Internal Audit Risk Assessment, coordinates outsourced internal audit functions and acts as a liaison for the Board of Directors Audit Committee.
Responsible for tax planning and compliance.
Works with outside tax counsel to coordinate Bank and Holding Co tax reporting with individual Sub S family shareholders and their accountants.
Assists with special projects requiring financial oversight.
This includes planning of potential new branch openings/expansions and/or closing of branch/locations, new product offerings, system changes or other financial analysis as needed.
Coaches and develops direct report employees.
Sets goals and evaluates individual performance. Works with management team to build a culture characterized by teamwork, high morale and retention of valued employees.
SECONDARY DUTIES AND RESPONSIBILITIES:
Serves on the Bank's Strategic Planning Committee, Management Committee, Investment Committee and other bank committees as assigned.
Stays current on accounting, tax and regulatory rule changes by participating in professional associations; attending pertinent industry-related conventions or conferences; and review/study of related publications.
Develops relationships with other bank-related executives to enhance network and to increase awareness of new services/opportunities.
Represents Bank at various civic and community events.
Performs other tasks, as may be assigned.
EDUCATION, EXPERIENCE, AND OTHER REQUIREMENTS:
Bachelor's Degree with business/accounting emphasis
7+ years bank experience in finance/accounting, CPA designation preferred
5+ years supervisory experience
At least two years of previous leadership related experience
Knowledge of accounting practices and banking regulations, policies and procedures
Exceptional analytical and problem solving abilities
Strong interpersonal skills
Effective communication skills
The ability to lead, coach and develop others effectively
Experience with Microsoft Office (Word, Excel)
Strong attention to detail
Good organizational skills with the ability to multi-task and prioritize
The ability to work with confidential materials
The ability to contribute in a team environment, ensuring that both individual and departmental goals are met
Desire and ability to abide by the Bank's core values
Performance Measures
Accuracy of work
Timeliness of work, ability to meet predetermined deadlines
Sound decision making and problem solving skills
Compliance adherence
Internal customer service feedback
Assists with continual improvement of bank efficiency ratio, via both expense control and income generation
Retains all key direct reports, with limited turnover
Job Type:
Full-time
Pay:
$180,000.00 - $200,000.00 per year
Benefits:
401(k)
401(k) matching
Dental insurance
Health insurance
Life insurance
Paid time off
Vision insurance
Schedule:
Weekends as needed
Ability to Commute:
Cedar Rapids, IA 52402 (Preferred)
Ability to Relocate:
Cedar Rapids, IA 52402: Relocate before starting work (Required)
Work Location:
In person
#J-18808-Ljbffr
We are seeking a dynamic and experienced Chief Financial Officer (CFO). The Chief Financial Officer is responsible for serving as the Bank's lead financial executive overseeing the accounting department and all financial and accounting related operations of the Bank. The position is responsible for adhering to all related generally accepted accounting principles, tax and regulatory laws, rules and regulations to adequately and accurately reflect the financial position of the Bank and its holding company at all times. Participates and assists the Bank in formulating and meeting its overall strategic business plans and goals; conducts financial and management reporting; prepares forecasts and Bank budgets; plans, coordinates, and executes effective processes; develops, implements, and monitors accounting policies, procedures, and practices that maintain strong internal controls throughout Bank operations. Performs direct supervisory duties of department staff, and coordinates staff for coverage in all related areas of the department.
PRIMARY ACCOUNTABILITIES AND RESPONSIBILITIES:
Leads/oversees the Asset Liability Management process.
Co-chairs the ALCO and is responsible for all monthly reporting to the committee. Develops and implements related Investment, ALCO, Risk Management, and Liquidity Contingency Funding policies. Responsible for interest rate risk (IRR) analysis/rate shocks, deposit runoff stress tests, and IRR model back tests in compliance with regulatory requirements. Monitors benchmarking and compliance with all related policies.
With guidance from strategic goals, prepares the Bank's annual operating budget.
Seeks approval of final budget from the Funds Management Committee and the Board of Directors. Analyzes variances from budget and prepares monthly budget to actual variance reports to ensure goals are being met.
Develops, implements, and administers the Bank's financial and accounting related policies.
Responsible for oversight or preparation of various regulatory financial reports including quarterly Call Reports, other reports to the FDIC, the Federal Reserve Bank and the Iowa Division of Banking. Supervises financial statement preparation for the Bank Holding Company and Subsidiaries of the Bank.
Ensures timely preparation of Bank internal financial reports.
These may include monthly Director reports, peer analysis, investment, tax and depreciation accounting, branch and department profitability analysis.
Oversees the Investment Portfolio of the bank.
Chair person of the Investment committee, sets up regular meetings and provides minutes of the meetings. Works with the bond accounting firm to ensure accurate and timely reporting of investment transactions.
Provides oversight for appropriate segregation of duties.
Completes an annual Internal Audit Risk Assessment, coordinates outsourced internal audit functions and acts as a liaison for the Board of Directors Audit Committee.
Responsible for tax planning and compliance.
Works with outside tax counsel to coordinate Bank and Holding Co tax reporting with individual Sub S family shareholders and their accountants.
Assists with special projects requiring financial oversight.
This includes planning of potential new branch openings/expansions and/or closing of branch/locations, new product offerings, system changes or other financial analysis as needed.
Coaches and develops direct report employees.
Sets goals and evaluates individual performance. Works with management team to build a culture characterized by teamwork, high morale and retention of valued employees.
SECONDARY DUTIES AND RESPONSIBILITIES:
Serves on the Bank's Strategic Planning Committee, Management Committee, Investment Committee and other bank committees as assigned.
Stays current on accounting, tax and regulatory rule changes by participating in professional associations; attending pertinent industry-related conventions or conferences; and review/study of related publications.
Develops relationships with other bank-related executives to enhance network and to increase awareness of new services/opportunities.
Represents Bank at various civic and community events.
Performs other tasks, as may be assigned.
EDUCATION, EXPERIENCE, AND OTHER REQUIREMENTS:
Bachelor's Degree with business/accounting emphasis
7+ years bank experience in finance/accounting, CPA designation preferred
5+ years supervisory experience
At least two years of previous leadership related experience
Knowledge of accounting practices and banking regulations, policies and procedures
Exceptional analytical and problem solving abilities
Strong interpersonal skills
Effective communication skills
The ability to lead, coach and develop others effectively
Experience with Microsoft Office (Word, Excel)
Strong attention to detail
Good organizational skills with the ability to multi-task and prioritize
The ability to work with confidential materials
The ability to contribute in a team environment, ensuring that both individual and departmental goals are met
Desire and ability to abide by the Bank's core values
Performance Measures
Accuracy of work
Timeliness of work, ability to meet predetermined deadlines
Sound decision making and problem solving skills
Compliance adherence
Internal customer service feedback
Assists with continual improvement of bank efficiency ratio, via both expense control and income generation
Retains all key direct reports, with limited turnover
Job Type:
Full-time
Pay:
$180,000.00 - $200,000.00 per year
Benefits:
401(k)
401(k) matching
Dental insurance
Health insurance
Life insurance
Paid time off
Vision insurance
Schedule:
Weekends as needed
Ability to Commute:
Cedar Rapids, IA 52402 (Preferred)
Ability to Relocate:
Cedar Rapids, IA 52402: Relocate before starting work (Required)
Work Location:
In person
#J-18808-Ljbffr