Controller

The City of Boston Credit Union seeks to hire a Controller, who will provide leadership and direction to the day-to-day operation of a major organizational component of the credit union - Accounting and Finance. Contribute to the creation, implementation, and administration of Credit Union wide policies related to Accounting. Direct the activities of accounting staff and represent the Credit Union to regulatory agencies, other financial organizations, trade associations and others. Provide direct support to the CFO in the areas of budgeting, forecasting, Investments, audit activities, procedures improvement, and regulatory reporting.

Responsibilities

• Responsible for preparing financial statements, analyze ratios, financial preparation and reports for monthly Board and committee meetings and trends to present to the CFO.
• Responsible for internal controls which promote the safeguarding of assets, procedures which result in reliable financial records and operational efficiency, and financial reporting in compliance with Generally Accepted Accounting Principles (GAAP) and regulatory requirements.
• Ensure Current Expected Credit Loss (CECL) compliance including methodology recommendations, Qualitative and environmental factors, and complete reconciliations of Allowance for Credit Losses (ACL) and preparing monthly reports.
• Serve as liaison for the credit union’s financial regulatory audits with NCUA, MA Division of Banks and external auditors in coordinating the completion of fiscal year-end audits as well as coordinates internally with other departments and planning audits.
• Develop, monitor, and maintain the annual budget including investigating and reporting budget variances, collaborate with various departments, forecasting trends and prepare monthly, quarterly and annual reporting.
• Responsible for placement of overnight investments, posting and reconciliation of the Investment portfolio; including working with outside vendors, reporting yields, trends and ratios to make recommendations to the CFO.
• Responsible for overseeing and reporting Cash Management and liquidity for the credit union including liquidity ratios, ongoing cash flow analyses, cash limits, etc., and ensure compliance within policy and regulatory requirements.
• Prepare and report information for tax return preparation and coordinates with external CPA firm for 990, 990-T, 945, 1099 and other state and federal regulatory tax reporting.
• Responsible for overseeing the NCUA Call Report ensuring accuracy to meet timeline requirements, coordinate and collaborate with various departments.
• Responsible for the General Ledger accounts including maintenance, reconciliations and classifications to ensure accurate balances for financial reporting.
• Responsible for overseeing the Accounts Payable Program to ensure efficiencies and streamline procedures and internal controls with accurate and timely payments.

• Participate on multifunctional committees, i.e., ALCO, Investment. Provide input that meets the needs of the organization while maintaining and improving member service.
• Supervise, direct and monitor the activities of staff. Ensure a trained, motivated and professional staff is capable of providing efficient and effective operational procedures and ensure internal controls. Establish performance expectations and monitor results. Recommend the discipline and/or discharge of staff, while maintaining required personnel documentation. Coach and counsel staff, as necessary.
• Ensure that accounting activities are in accordance with GAAP and implement new accounting rules and ensure existing procedures are consistent with GAAP and contain appropriate internal controls. Keep abreast of changes in accounting principles and industry trends as they affect the credit union.
• Assist with Pension and 401K plan reviews, financial recommendations, audits and reporting requirements and reconciliations.
• Manage vendors for the Accounting Department including due diligence, risk assessments, risk rating, contract reviews, and obtaining new proposals for recommendation to the CFO.
• Ensure that the Accounting Department supports the overall goals of the Credit Union and that accounting services are delivered professionally and efficiently.
• Assist with various profitability analysis and reporting, including assessment of the Credit Union’s branch network’s products and services.
• Coordinate accounting activities with other departments. Provide related expertise for expanded project management objectives. Track projects, related expenses, and capital expenditures.
• Perform other accounting, finance and administrative duties as assigned.
• Other duties as assigned.

Requirements/Skills Needed

• BA/BS in Accounting or Finance. Graduate degree and/or CPA or CMA preferred.
• 5 to 10 years’ experience in financial institution accounting either in a financial institution or public accounting firm.
• Minimum 3 years previous experience as an Accounting department manager or higher.
• Demonstrated knowledge of GAAP, CU regulations, legislation and financial reporting.
• Previous experience with external auditors, preferably with NCUA and State examiners.
• Requires critical thinking skills as well as strong analytical and financial modeling skills.
• Exemplary written, verbal, interpersonal, presentation skills and the ability to effectively interface and present to various audiences including senior management, the Board and staff.
• Advanced Excel skills and proficiency with MS Office including Word and PowerPoint.

How to Apply

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