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VP of Financial Reporting - Assistant Controller - Banking
Based in Lexington, MA
Community Bank seeks #2 in Finance
About Our Client
My client has strong capital adequacy ratios, an enviable community branch footprint, strong leadership and an impressive track record. In line with their business strategy moving forwards, they are in search of a high caliber Vice President of Financial Reporting to join their finance team.
Reporting mainly into the Financial Controller of the bank, but also with a dotted line into the Bank's CFO, the Vice President of Financial Reporting - Assistant Controller is at the heart of the community bank's finance team.
The VP Financial Reporting is responsible for overseeing the day-to-day management of the Banks' accounting and reporting for the investment securities activity, and for overseeing a variety of accounting functions relating to the mutual holding company and its subsidiaries.
The position also oversees the financial reporting function of the department to regulatory agencies, board of directors and bank management. The successful incumbent will also act as the technical expert on accounting requirements for the department and the Bank. Additional duties and responsibilities will include the following:
- Oversee the accounting for investment securities transactions.
- Manage the accounting functions related to the mutual holding company and its multiple subsidiaries.
- Oversee the intercompany accounting process from transaction processing through reporting.
- Oversee the preparation of reports for monthly Directors meetings and annual audited financial statements.
- Oversee the accounting and processing of new borrowings and payments from the Federal Home Loan Bank and other banks or brokers.
- Prepare various regulatory reports, including but not limited to the quarterly FDIC Call Reports, the annual assessment report to the Commissioner of Banks, quarterly Federal Reserve reports and annual DIF report. Ensures accuracy, timely filing and compliance with regulations.
- Act as liaison with third-party software vendors
- Responsible for the ongoing updates to the Finance department operating procedures and Finance portion of the department's Disaster Recovery Plan and act as an alternate Team Leader for Finance.
- Oversee the FDICIA testing process and maintain the FDICIA cycle controls for the department.
- Advise and assist other departments in accounting related issues.
- Act as backup for department representative at various committee meetings.
- Contribute to the effective team management of all bank problems, issues and opportunities.
Please note that in addition to a CPA, previous community banking experience is critical for this vacancy. If you feel you've got what it takes to step into a #2 finance position within a community bank, apply today and your resume will be reviewed within two business days.
The Successful Applicant
In return for a competitive remuneration package, the successful candidate will possess the following:
- Bachelor's degree or equivalent in accounting
- CPA qualification (non-negotiable)
- 7+ years' experience in a senior level accounting position in a banking environment
- Ideally, your banking experience will be that of Community Banking.
- Investment accounting and financial reporting experience preferred
- 5+ years' of management experience
- Strong technical accounting knowledge
What's on Offer
- $ 100,000 - $120,000 base salary (negotiable)
- Performance related bonus scheme
- Competitive and comprehensive benefits package
- North shore/ metro West location
- Vice President title
- Work/ life balance (not your typical, international retail banking working schedule)