Chief Financial Officer (CFO)

Make a difference in the lives of our members, and your own! At City of Boston Credit Union, we work together to help Members grow their finances and plan for a better future. We do the same for each other because, here, employees are Members too.

The City of Boston Credit Union seeks to hire a Chief Financial Officer (CFO) who will direct, oversee, and be responsible for the financial and risk management activities within our organization with the objective of ensuring financial stability and growth in the best interest of our members. This will include the preparation of financial reports and summaries, and creating forecasts predicting future growth and risk that may compromise the financial stability and integrity of the organization. The CFO will serve as the primary leader of the institution’s asset-liability strategies, cash management and investment functions, financial and regulatory reporting. Additionally, influence product pricing/cost accounting models. This position is also responsible for managing and developing a comprehensive process to identify, measure, monitor and control pertinent business risks that could interfere with the organization’s objectives and goals.

Responsibilities

Specific duties include, but are not limited to, the following: 

• Responsible for financial statement and report preparation on a regular and special request basis.
• Prepares financial reports for monthly board meetings.
• Regularly reviews entries to the general and statistical ledgers to assure accuracy and compliance with established accounting principles and procedures. Prepares general and statistical ledger entries.
• Coordinates and prepares for internal and external audits
• Prepares and/or reviews required tax returns.
• Recommends changes in financial policies and procedures, as necessary.
• Monitors established internal controls to assure proper compliance.
• Chairs Asset Liability Committee meetings and keeps members abreast of interest rate movements and trends and other economic indicators that may impact the financials of the Credit Union.

• Supervise professional and administrative support staff; assigns work and special projects; monitors workload and productivity; evaluate performance; promotes staff training and development; aid in analyzing and resolving complex issues.
• Develop and maintain systems of internal controls and financial procedures to provide for the safety and soundness of assets throughout the organization.
• Manage cash, investments, and liquidity in accordance with board-established policies and prudent financial management practices.
• Monitor and evaluate the adequacy of the Allowance for Loan Loss (ALL) and make recommendations to the President/CEO and Board of Directors for adjustments to the level.
• Ensure for the timely reconciliation of various General Ledger Accounts. .
• Adhere to all Credit Union policies and procedures.
• Direct all accounting activities providing leadership, training, and supervision while ensuring compliance with credit union policies and procedures.
• Develop and oversee the Credit Union’s disaster recovery plan
• Manage $126 million investment portfolio including the purchase and sale of all investments for the Credit Union in accordance with ALCO recommendations and as legally allowed.
• Participate in the development and execution of the Credit Union’s Strategic Plan and associated tactical plans
• Perform other duties as assigned.

Requirements/Skills Needed

• CPA License or Bachelor’s Degree in Business Administration plus substantial financial and accounting experience.
• Ten years’ experience in the management of credit union or banking financial operations.
• Experience in investment and securities operations and in Asset-Liability management. 
• Well-developed analytical and organizational skills with expertise in Word and Excel applications and specialized accounting software programs.

How to Apply

Please submit resume and cover letter to HR@cityofbostoncu.com