This position plans, organizes and directs the Financial Planning & Analysis Department. This position advises the Chief Financial Officer on a variety of matters pertaining to the management and operation of the credit union. This position is an integral part of the executive management team of a growing credit union and serves an advisor to the executive management team, President/CEO, Asset Liability Staff Committee (ALSC), the Board of Directors and Supervisory Committee.
The following staff directly report to this position:
Establishes strategic goals and objectives and departmental budgets, reviews departmental plans, designs systems of effective control to achieve expected outcomes and evaluating progress towards goal accomplishments in the Finance Department.
Oversees the day-to-day financial operations of the credit union; assists in establishing and maintaining internal controls over investments, rates and other financial transactions. Invest credit union funds within policy guidelines.
Provides support to the Board/Executive Committee, the Asset Liability Staff Committee (ALSC) and the Supervisory Committee. Participates in monthly Board and/or Supervisory Committee meetings as needed; provides informational updates and presents management recommendations to the Board.
Develops the annual Operating Plan and oversees preparation of monthly financial statements. Develops financial strategies, investment objectives, liquidity positions, capital adequacy, new business ventures, financial policies, and strategic plans.
Ensures support related to all aspects of audit and examination field work is provided. Reviews reports resulting from audits and exams and applicable management responses.
Analyzes and provides information to help make decisions, which are economically sound and in support of the credit union’s goals and objectives.
May serve as the ALSC Chair. Meets at least monthly to set rates for deposits and loans based on market conditions, competitors, risk-return parameters, and credit union financial goals. Reviews investment strategies, liquidity and cash management position. Participates in the development and evaluation of new products and changes to existing products.
Manages the credit union’s investment portfolio consisting of a variety of permissible securities with the objective of achieving superior risk-adjusted return.
Performs analysis of the firm’s interest rate, credit, liquidity, and concentration risk exposures, ensuring that the credit union operates safely, soundly and within policy limits.
Analyzes and recommends the firm’s mix of assets and liabilities in effort to achieve superior risk-adjustment returns for the credit union through Portfolio Management.
Participates in establishing the strategic direction of the credit union by developing plans with Senior Management.
Develops staff by providing effective development opportunities, coaching and counseling, timely and fair performance appraisals and effective motivation.
Oversees the operations of finance and financial planning and analysis functions to include: producing monthly financial statements, board reports, application of GAAP, loan accounting, annual tax returns, payroll function, responding to audits and exams, accounts payable, investment accounting, financial planning, financial analysis, ALSC reporting, wire transfers, cash management, and treasury functions.
Participates throughout the year in strategic planning.
Establishes positive employer-employee relationships and promotes a high level of employee morale, trust and integrity. Oversees staff evaluations of departmental personnel in cooperation with directly reporting management.
Reviews, negotiates and manages business-to-business relationships.
Exercises discretion and independent decision-making to oversee the strategic financial planning and investing necessary to assist the growth of the credit union in a manner that supports the credit union’s mission and increases the profitability of the organization.
Ensures the credit union’s compliance with laws and regulations that affect the organization through oversight activities and consulting with management.
Consults with management as needed to assess new risks as new products and services are added, as regulations, policies and practices change, and as areas of concern are identified.
Attends seminars, industry events and community events in support of professional and business development. Performs other duties as required.
Ensures all required monthly, quarterly and annual financial and governmental reporting is completed in a timely and accurate manner.
Participates in strategic planning with Senior Management.
Implements operational improvement recommendations for financial and ALSC reporting.
EDUCATION, SKILLS, & ABILITIES:
Requires an undergraduate degree in Business, Economics, Finance or Accounting. A related master’s degree and/or professional designation is preferred.
Up to 15 years’ experience in the financial industry is preferred, of which 10 years must be in a financial management capacity. Financial modeling, financial analysis, economic theory and practice, budgeting, forecasting, General Accepted Accounting Principles (GAAP) knowledge and strategic planning work experience a must.
Ability to exercise discretion and independent decision-making within the scope of finance, accounting, and operations.
The ideal candidate will possess outstanding presentation, communication and coaching skills, high integrity, ability to demonstrate sound reasoning and judgment, and be team-oriented.
Experience working with Microsoft Applications such as Excel, Word, PowerPoint, Access and Outlook. Advance working knowledge of Excel is required.
Strong analytical and quantitative skills, along with highly complex conceptual thinking ability, and the ability to handle multiple projects simultaneously to meet work deadlines.
Ability to interact and communicate effectively, both orally and in writing, in a positive and professional manner with all levels of staff and with auditors and examiners.
Ability to understand and follow policies and procedures, accept constructive criticism, and lead and manage others.
Communicate vision and concepts of the company.
Ability to operate standard business machines such as computer, printer, copier and telephonic devices.
California Coast Credit Union (also known as Cal Coast) is the longest-serving credit union in San Diego County, headquartered in San Diego, California. As of Q3 of 2020, it had more than $3.0 billion in assets, over 192,000 members, 26 branch locations and 540 employees.