Chief Financial Officer

OverviewAs a high-level executive for the Bank, responsible for the entire financial health of the organization, directs the Bank's financial planning, including long-term strategy, budgeting, forecasting, and investment decisions. Oversees the Bank's balance sheet, managing the investment portfolio to optimize returns while ensuring liquidity and capital adequacy, and making strategic decisions regarding other business opportunities and investments are crucial aspects of this role. Identifies, assesses, and mitigates financial risks, such as interest rate risk, liquidity risk, and credit risk, that are essential to safeguarding the Bank's stability and reputation. Ensures strict adherence to relevant banking regulations, including Reg W and other compliance standards. Directs all aspects of financial reporting, including preparing financial statements, board reports, and regulatory filings (like Call Reports), and ensuring the accuracy and timeliness of these reports. Optimizes cash flow, managing accounts payable and receivable, and ensuring adequate funding sources to meet operational and regulatory requirements. Leads and mentors the accounting and finance team, fostering their professional growth, and ensuring teamwork. Collaborates with other executives, including the CEO, to inform decision-making, drive growth and profitability, and ensure that financial goals are aligned with overall business objectives. QualificationsEducation: Bachelor's Degree in Accounting, Masters preferred.Licenses/Certifications: Certified Public Accountant required.Experience: At least ten years of finance experience in a leadership role to include the management of an accounting/finance department in a financial institution. Must have a thorough knowledge of GAAP, financial accounting standards, applicable federal and state regulations. Essential FunctionsA: Job Specific:Oversees all financial and accounting functions and staff within the Bank to include ALM, AP, AR, budgets, CECL, G/L, financial analysis, financial reporting and recordkeeping, investments, and all related functions.Provides strategic financial input and leadership on decision making issues and initiatives affecting the organization.Monitors capital adequacy, asset quality, interest rate/net earnings at risk and liquidity.Manages the interest rate risk of the balance sheet along with chairing the Asset/Liability committee.Oversees and manages the Bank's investment portfolio that provides liquidity and safety while optimizing earnings.Develops and maintains budgeting systems to provide financial projections and control expenditures; recommend budget policies and procedures.Plans, prepares and oversees the annual budget. Utilizes cost accounting measures to determine line of business and department budgeting. Establishes and maintains strong financial controls to manage operational expenses.Coordinates the on-balance sheet funding for the institution and monitors the liquidity and cash position of the Bank.Analyzes financial information, cash flow, market data and industry trends to determine effective cost-effective measures and pricing strategies to increase profits.Ensures compliance with FDICIA, oversees internal controls over financial reporting.Coordinates the preparation of financial statements, reports and tax filings.Responds to audit findings. Formulates and implements solutions to rectify issues.Provides strategic business guidance with department heads. Assists in the negotiation of vendor contracts, projects and business endeavors. Oversees renewal of corporate insurance policies.Develops proposals for alternatives to funding and spending decisions to make optimal use of funding alternatives.Assists the payments and prepaid card division with Treasury Management activities as well as accounting and analysis for the division.Monitors Bank performance in regards to the annual budget. Determines industry trends and respond to changes in the market to maintain profitability.Assists HR in the design, implementation, and timely calculations of wage incentives, commissions, and salaries for the staff.Members of various internal terfaces with the community and industry at large.Partners with HR in recruitment efforts, as well as, managing performance; to include but not be limited to; corrective action and/or development plans, evaluate performance and develop staff members, identify training needs and performance issues. Knowledge/Skills/AbilitiesThe ability to communicate effectively and clearly, both in verbal and written communications, as well as, present information to groups of managers, employees, customers, and the general public.Excellent interpersonal skills.Strong knowledge of the business area(s) that are being supported.Strong leadership skills.The ability to manage multiple tasks.Technical writing, to include reports, procedure manuals, articles for publication.Ability to work with mathematical concepts such as probability, statistical reference, fundamentals of finance, economics and accounting. Ability to apply mathematical concepts to practical situations.The ability to read, analyze and interpret financial statements, government regulations, professional journals, etc.Ability to define problems, collect data, establish facts and draw valid conclusions. Ability to solve problems and deal with a variety of concrete variables in situations where only limed standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.Must have ability to analyze and solve complex problems, develop automated systems.Deep understanding of the banking industry and its regulations. Sutton Bank is an Equal Employment Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity, disability, pregnancy or protected veteran status. #J-18808-Ljbffr

Created: 2025-09-17