Organization: FirstLight Federal Credit Union

Position Title: Vice President of Accounting & Finance

Reports to: CFO

Location: El Paso, Texas

THE ORGANIZATION

FirstLight Federal Credit Union, established in 1955 and headquartered in El Paso, Texas, serves over 101,800 members with assets exceeding $1.6 billion. They offer a wide range of financial services, including savings and checking accounts, loans, and investment opportunities, with a focus on personalized service and competitive rates.

FirstLight is deeply committed to community involvement and philanthropy. They support various local initiatives and nonprofit organizations through financial literacy classes, community giveback programs, and partnerships with local organizations like the Paso del Norte Community Foundation. Their "give back" initiative rewards members for using their FirstLight Visa Debit Card, and they encourage employee volunteerism and civic engagement to strengthen community bonds.

Overall, FirstLight Federal Credit Union aims to meet the financial needs of its community while fostering a sense of belonging and empowerment among residents.

THE OPPORTUNITY

Vice President of Accounting & Finance: Reporting to the Chief Financial Officer (CFO), the Vice President of Accounting & Finance is responsible for providing leadership to the Accounting and Finance teams. This includes managing and setting the strategic direction of the departments and contributing to the management and strategic direction of the institution. The VP is responsible for developing the people and processes needed to meet and exceed the needs of the stakeholders. You will functions as a member of the Management Team, participates in establishing and implementing major goals and objectives of the Credit Union. Serves as a financial advisor to the management team, evaluating and assisting them with financial modeling and forecasting, and serves as a resource in all aspects of financial planning and analysis. Supervises budgeting, general ledger, accounts payable and receivable, asset and liability management, capital expenditures, cash management, liquidity, and the investment of Credit Union assets. Ensures the accurate internal and external recording and reporting of financial transactions to state and federal regulatory agencies. Ensures that financial planning and analysis activities are in compliance with established legal, regulatory, and Credit Union procedures. Monitors Department policies and procedures and recommends improvements. Supervises and appraises the activities of subordinate managers and ensures that all functions are professionally delivered, and internal customers are well served.

KEY ACCOUNTABILITIES

· Assumes responsibility for the development and implementation of effective financial planning and analysis strategies, policies, and procedures.

o Collaborates with Executive Management in developing short and long-term goals and objectives for the credit union’s financial affairs.

o Develops and implements operational plans, policies, and procedures for the Department which further Credit Union objectives.

o Ensures policies and procedures are in compliance with applicable state, federal, regulatory, and industry rules and regulations (GAAP, IRS, NCUA, NACHA, FRB, etc.).

o Continually evaluates established policies and procedures and updates or modifies them as necessary. Ensures that policies are in accordance with evolving regulations, legal requirements, and industry trends.

o Prepares cash flow, liquidity, and forecasting projections. Maintains reliable cash flow processes and reporting tools that include minimum cash thresholds needed to meet operating needs.

o Supervises the development and implementation of financial information and control systems, including general ledger, budgeting, cost allocation, mortgage accounting, and other subsystems.

o Supervises and monitors budgeting and the implementation of budgets.

o Periodically reviews management's information needs and modifies the reporting systems as needed.

o Administers the financial records and other information for the Credit Union Service Organization (CUSO).

o Monitors cost control and revenue-generating activities. Identifies and implements cost control and revenue growth strategies.

o Oversees the preparation of business case financials.

· Assumes responsibility for effectively managing Credit Union risk. Assumes responsibility for establishing and maintaining effective business relations with members, vendors, partner institutions, outside auditors and regulators, and with professional trade groups.

o Evaluates interest rate risk exposure and sensitivity and recommends strategies in compliance with ALM policy.

o Develops the monitoring process and analytical tools to ensure successful implementation of ALM strategies. Coordinates implementation of ALM strategies throughout the Credit Union.

o Develops the monitoring process and analytical tools to ensure successful implementation of Allowance for Loan Loss/CECL strategies. Coordinates implementation of CECL strategies throughout the Credit Union.

o Ensures the implementation of strategies, policies, and procedures to protect Credit Union assets.

o Maintains relationships with FRB, FHLB, Catalyst Corporate, TruStage, and investment brokers. Represents the Credit Union with various trade professionals and groups.

o Ensures that the Credit Union’s professional reputation is maintained. Ensures that appropriate levels of confidentiality are maintained.

o Assumes responsibility for the development and implementation of effective financial strategies.

o Conducts local and national financial research and analysis. Maintains current data on interest rate forecasts and economic projections.

o Forecasts cash flows and liquidity needs and contingencies using stress testing models.

o Ensures effective management of liquid assets. Manages the short-term investment portfolio and borrowing to ensure that adequate liquidity is available to meet withdrawal demands, loan growth, and other investments.

o Manages the portfolio of funds in excess of liquidity requirements. Ensures that funds are in safe and profitable investments that comply with Credit Union policies.

· Assumes responsibility for the effective preparation, maintenance, and reporting of internal and external financial records and analyses.

o Ensures that records and reports are in accordance with generally accepted accounting principles and government regulations.

o Performs and oversees special studies for management, such as cost analyses, ratio and trend analyses, and other comparative examinations. Detects and analyzes trends in financial data.

o Prepares reports and analyses of departmental and branch operations and performance.

o Decisions and activities can clearly be linked to “Improve Lives. Achieve Dreams.”

o Seeks ways to improve internal service and/or delivery systems.

o Adapts to business changes readily and enthusiastically.

o Participates in credit union activities that further FLFCU presence in our membership communities.

o Keeps abreast of trends and operational innovations applicable to accounting, finance, tax, risk management, and credit union management.

· Assumes responsibility for related duties as required or assigned.

o Stays informed of trends and changes in the accounting, mortgage servicing, construction, secondary markets, and tax fields.

o Completes special accounting or finance projects as assigned.

· Assumes responsibility for establishing and maintaining effective communication and coordination with co-workers, other FLFCU personnel, and with management.

o Keeps management informed of area activities and of any significant problems. Provides suggestions for improved service.

o Initiates efforts and plans to ensure high internal service ratings.

o Conducts, attends, and participates in meetings as required.

o Provides leadership, assistance, direction, and supervision to personnel through effective objective setting, delegation, communication, coaching, and recognition.

o Conducts staff meetings as required. Informs personnel of policy, procedural, and legal changes. Discusses areas needing improvements.

o Ensures that personnel are well trained, effective, and optimally used. Identifies training needs and develops and implements appropriate training programs. Conducts training sessions and cross-trains as appropriate.

o Tracks individual progress and conducts performance appraisals. Effective coaching and recognition techniques are employed. Coaching and corrective action are accurately documented and corrective actions are formulated and implemented as needed.

o Assists, supports, and serves personnel as needed.

DESIRED SKILLS AND EXPERIENCE

· Minimum 8 years directly related experience within a Credit Union.

· Experience leveraging technology to improve processes, to produce more timely, reliable and accurate information to drive decision making.

· Ability to communicate effectively, both verbal and written, with all levels of management.

· Demonstrated political savvy to operate in politically complex situations and remain effective.

· Decisive, action-orientation, leader.

EDUCATION REQUIREMENTS

· Undergraduate degree in Accounting, Finance or related field.

· Advanced degree or CPA preferred.

· CUNA Management Certification preferred

CONTACT INFORMATION

If you are interested in being considered for this opportunity, please contact:

Megan McQuay, Principal, Recruitment Solutions, United States

email: megan.mcquay@lhh.com phone: 505 348 2982

Equal Opportunity Employer/Veterans/Disabled

To read our Candidate Privacy Information Statement, which explains how we will use your information, please navigate to https://www.lhh.com/us/en/candidate-privacy

The Company will consider qualified applicants with arrest and conviction records in accordance with federal, state, and local laws and/or security clearance requirements, including, as applicable:

• The California Fair Chance Act
• Los Angeles City Fair Chance Ordinance
• Los Angeles County Fair Chance Ordinance for Employers
• San Francisco Fair Chance Ordinance