Old Point
Chief Financial Officer (CFO)
Old Point, Hampton, Virginia, United States, 23661
Old Point National Bank is a thriving $1.4 billion Community Bank dedicated to providing exceptional financial services to our customers and supporting the growth and development of the communities we serve. We pride ourselves on our commitment to personalized service, financial strength, and a culture that values integrity, innovation, and collaboration. We are seeking an experienced and dynamic Chief Financial Officer (CFO) to join our executive leadership team.
As the Chief Financial Officer (CFO), you will play a critical role in shaping the financial future of Old Point. You will be responsible for overseeing all financial operations, including strategic planning, budgeting, financial reporting, and fraud management. The ideal candidate will have a deep understanding of community banking, a track record of driving financial performance, and the ability to lead and inspire a high-performing team.
Position Summary:
As part of the organization’s Executive Team, reporting to the President & CEO, the Chief Financial Officer (CFO) develops and directs financial plans and perspectives to support the organization’s strategic business plan and growth opportunities as s well as playing a strategic role in the organization’s future business development and progression. Oversees, assesses, and directs financial activities of the organization including preparation of financial reports as well as summaries and forecasts for the future business growth and general economic outlook.
Essential Functions
• Develops finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction and establishing functional objectives in line with organizational objectives; forecasting capital, facilities, and staff requirements; identifying monetary resources; and developing action plans.
• Develops financial well-being of the organization by providing financial projections and accounting services, preparing growth plans, and directing staff.
• Establishes finance operational strategies by evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies; designing systems; accumulating resources; resolving problems; and implementing change.
• Develops organization prospects by studying economic trends and revenue opportunities; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; and accumulating capital to fund expansion.
• Directs the interest rate risk management and funds management functions.
• Monitors financial performance by measuring and analyzing results, initiating corrective actions, and minimizing the impact of variances.
• Maximizes return on invested funds by identifying investment opportunities and maintaining relationships with the investment community.
• Works with the Board of Directors on financial initiatives and information and participates in designated Board Committees.
• Oversees the timely and accurate development of budgets, financial reports, and models that will assist the President & CEO, Board, and other senior managers in making informed program strategy, resource allocation, and investment decisions.
• Maintains the integrity and compliance of corporate governance policies and related documents
• Coordinates funding operations and expand relationships to secure reliable and cost-effective sources of capital.
• Responsible for staff development, motivation, and performance management.
• Utilizes appropriate methods for interacting sensitively, effectively, and professionally with persons from diverse cultural, socioeconomic, educational, racial, ethnic and professional backgrounds, and persons of all ages and lifestyle preferences.
• Drives efficient and accurate service delivery through solid coaching, communication, and performance management practices.
• Accountable for the understanding of and adherence to operational controls, policies, procedures and processes to ensure compliance with bank policies and related laws and regulations.
• Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification.
Position Requirements (Knowledge/Skills/Abilities)
• Comprehensive knowledge and understanding of accounting principles, methods and procedures to direct the preparation of all fiscal reporting, such as cost accounting, budgets, regulatory agency, and government reports.
• Knowledge of all aspects of generally accepted accounting principles (GAAP), profit and loss, balance sheet and cash flow management, and general finance and budgeting
• Knowledge of U.S. Securities and Exchange Commission (SEC) reporting.
• Knowledge of strategic financial strategies.
• Knowledge and experience with corporate governance.
• Expert level knowledge of MS Office with the ability to learn other job specific software applications
• Excellent written and oral communication skills and ability to distill and convey information in a compelling manner
• Skill in adopting technological advancements and facilitating into current and future responsibilities
• Agile in Action – Adapts to changes in the business, demonstrating innovation to improve the organization and advance the business into the future.
• Skill in managing people effectively, including utilizing best practices in performance management.
• Skill in being aware of, controlling, and expressing one’s emotions, and to handle interpersonal relationships judiciously and empathetically.
• Skill in understanding what motivates people and using that to encourage productivity.
• Skill in systems thinking - understanding of the link between one’s own job responsibilities and overall organizational goals and needs and performs one’s job with the broader goals in mind.
• Ability to demonstrate support for innovation and for organizational changes needed to improve the organization’s effectiveness; initiating, sponsoring, and implementing organizational change; helping others to successfully manage organizational change.
• Ability to work collaboratively, communicate effectively and have positive relationships with customers (internal and external).
• Ability to anticipate, monitor, and meet the needs of customers (internal and external) and respond in an appropriate manner.
• Ability to exhibit sound and accurate judgment; can clearly explain reasoning for decisions; includes appropriate people in decision-making process; demonstrates persistence and overcomes obstacles; takes calculated risks within bank tolerance to accomplish goals.
• Ability to energize and alert groups to the need for specific changes in the way things are done.
• Understands business implications of decisions; displays orientation to profitability; demonstrates knowledge of market and competition; aligns work with strategic goals and performance objectives.
• Possesses the drive to work towards a standard of excellence.
Education/Experience:
• Bachelor’s degree in Accounting or Finance or a related field.
• Master’s degree preferred.
• Minimum of 10 years of experience in accounting or finance with at least 5 years’ experience in finance/accounting area of a commercial bank.
• Minimum of five years in a Chief Financial Officer role.
• CPA Certification required.
Physical Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle, or feel and talk or hear and occasionally required to stand, walk, reach with hands and arms and stoop, kneel, crouch, or crawl. Specific vision requirements for the job include close vision (at 20 inches or less) and the ability to recognize colors.
Working Conditions
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The work environment is typically indoors and in an office setting. The noise level within the work environment is typically moderate.
The specific statements shown in each section of this position description are not intended to be all-inclusive. They represent typical elements and criteria necessary to successfully perform the job.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
As the Chief Financial Officer (CFO), you will play a critical role in shaping the financial future of Old Point. You will be responsible for overseeing all financial operations, including strategic planning, budgeting, financial reporting, and fraud management. The ideal candidate will have a deep understanding of community banking, a track record of driving financial performance, and the ability to lead and inspire a high-performing team.
Position Summary:
As part of the organization’s Executive Team, reporting to the President & CEO, the Chief Financial Officer (CFO) develops and directs financial plans and perspectives to support the organization’s strategic business plan and growth opportunities as s well as playing a strategic role in the organization’s future business development and progression. Oversees, assesses, and directs financial activities of the organization including preparation of financial reports as well as summaries and forecasts for the future business growth and general economic outlook.
Essential Functions
• Develops finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction and establishing functional objectives in line with organizational objectives; forecasting capital, facilities, and staff requirements; identifying monetary resources; and developing action plans.
• Develops financial well-being of the organization by providing financial projections and accounting services, preparing growth plans, and directing staff.
• Establishes finance operational strategies by evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies; designing systems; accumulating resources; resolving problems; and implementing change.
• Develops organization prospects by studying economic trends and revenue opportunities; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; and accumulating capital to fund expansion.
• Directs the interest rate risk management and funds management functions.
• Monitors financial performance by measuring and analyzing results, initiating corrective actions, and minimizing the impact of variances.
• Maximizes return on invested funds by identifying investment opportunities and maintaining relationships with the investment community.
• Works with the Board of Directors on financial initiatives and information and participates in designated Board Committees.
• Oversees the timely and accurate development of budgets, financial reports, and models that will assist the President & CEO, Board, and other senior managers in making informed program strategy, resource allocation, and investment decisions.
• Maintains the integrity and compliance of corporate governance policies and related documents
• Coordinates funding operations and expand relationships to secure reliable and cost-effective sources of capital.
• Responsible for staff development, motivation, and performance management.
• Utilizes appropriate methods for interacting sensitively, effectively, and professionally with persons from diverse cultural, socioeconomic, educational, racial, ethnic and professional backgrounds, and persons of all ages and lifestyle preferences.
• Drives efficient and accurate service delivery through solid coaching, communication, and performance management practices.
• Accountable for the understanding of and adherence to operational controls, policies, procedures and processes to ensure compliance with bank policies and related laws and regulations.
• Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification.
Position Requirements (Knowledge/Skills/Abilities)
• Comprehensive knowledge and understanding of accounting principles, methods and procedures to direct the preparation of all fiscal reporting, such as cost accounting, budgets, regulatory agency, and government reports.
• Knowledge of all aspects of generally accepted accounting principles (GAAP), profit and loss, balance sheet and cash flow management, and general finance and budgeting
• Knowledge of U.S. Securities and Exchange Commission (SEC) reporting.
• Knowledge of strategic financial strategies.
• Knowledge and experience with corporate governance.
• Expert level knowledge of MS Office with the ability to learn other job specific software applications
• Excellent written and oral communication skills and ability to distill and convey information in a compelling manner
• Skill in adopting technological advancements and facilitating into current and future responsibilities
• Agile in Action – Adapts to changes in the business, demonstrating innovation to improve the organization and advance the business into the future.
• Skill in managing people effectively, including utilizing best practices in performance management.
• Skill in being aware of, controlling, and expressing one’s emotions, and to handle interpersonal relationships judiciously and empathetically.
• Skill in understanding what motivates people and using that to encourage productivity.
• Skill in systems thinking - understanding of the link between one’s own job responsibilities and overall organizational goals and needs and performs one’s job with the broader goals in mind.
• Ability to demonstrate support for innovation and for organizational changes needed to improve the organization’s effectiveness; initiating, sponsoring, and implementing organizational change; helping others to successfully manage organizational change.
• Ability to work collaboratively, communicate effectively and have positive relationships with customers (internal and external).
• Ability to anticipate, monitor, and meet the needs of customers (internal and external) and respond in an appropriate manner.
• Ability to exhibit sound and accurate judgment; can clearly explain reasoning for decisions; includes appropriate people in decision-making process; demonstrates persistence and overcomes obstacles; takes calculated risks within bank tolerance to accomplish goals.
• Ability to energize and alert groups to the need for specific changes in the way things are done.
• Understands business implications of decisions; displays orientation to profitability; demonstrates knowledge of market and competition; aligns work with strategic goals and performance objectives.
• Possesses the drive to work towards a standard of excellence.
Education/Experience:
• Bachelor’s degree in Accounting or Finance or a related field.
• Master’s degree preferred.
• Minimum of 10 years of experience in accounting or finance with at least 5 years’ experience in finance/accounting area of a commercial bank.
• Minimum of five years in a Chief Financial Officer role.
• CPA Certification required.
Physical Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle, or feel and talk or hear and occasionally required to stand, walk, reach with hands and arms and stoop, kneel, crouch, or crawl. Specific vision requirements for the job include close vision (at 20 inches or less) and the ability to recognize colors.
Working Conditions
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The work environment is typically indoors and in an office setting. The noise level within the work environment is typically moderate.
The specific statements shown in each section of this position description are not intended to be all-inclusive. They represent typical elements and criteria necessary to successfully perform the job.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)