Chief Financial Officer

Job Description

Job Description

Job Summary:

The CFO is responsible for developing, planning, organizing, and directing the fiscal operations of the Bank in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board, and other regulatory and advisory organizations and in accordance with financial management techniques and practices appropriate within the industry. The CFO is responsible for the direct supervision of the controller and the indirect supervision of all employees in the accounting department. The CFO will provide vision, leadership, and managerial direction required to meet or exceed the growth and profitability objectives of the Bank. As a member of the Bank’s executive management team, the CFO will effectively communicate with the CEO/President, other management team members, the Board of Directors and shareholders with regard to the fiscal control, profitability, and financial feasibility and risk for all areas of the organization.

Primary Duties/Responsibilities:

This list includes the current primary responsibilities of this position. It is not intended to be all-inclusive and is subject to change, as needed, for the purpose of operational efficiency.

• Represents the Bank and oneself in a positive, friendly, courteous, and professional manner.
• Plan, develop, organize, implement, direct, and evaluate the organization’s fiscal function and performance.
• Administers the investment portfolio to maximize earnings, maintain liquidity, and minimize interest rate risk.
• Lead the asset/liability management process including; data analysis, preparation of quarterly ALCO reports, and maintaining up-to-date data on interest rates and economic forecasts.
• Develop financial strategies by forecasting capital, liquidity, facilities, staff requirements, identifying funding sources and developing action plans.
• Monitor financial performance by measuring and analyzing results; initiating corrective actions; minimizing the impact of variances.
• Report financial status by developing budgets; report results; analyzing trends/variances and developing improvements.
• Oversee preparation of various financial reports including quarterly Call Report, FHLB collateral pledging report, Federal Reserve reports relating to the Bank holding company, and other required regulatory reports.
• Enhance and /or develop, implement, and enforce policies and procedures of the organization by way of systems that will improve the overall operation and effectiveness of the corporation.
• Provide technical financial advice and knowledge to others within the organization.
• Administers the internal audit program, ensuring a full scope of coverage and implementation of proper corrective action.
• Responsible for the formulation and implementation of the company’s tax strategy.
• Evaluates and reviews merger and acquisition targets.
• Supervises and directs staff within the accounting department.

Qualification/Skills:

• Strong interpersonal skills, enabling the individual to successfully work with a diverse group of people.
• Strong leadership and organizational skills.
• Possess personal qualities of integrity, credibility, and commitment to the corporate mission.
• Excellent verbal and written communication skills.
• Thorough knowledge and understanding of bank accounting requirements.
• High level of problem-solving skills, enabling the individual to take responsibility and/or risk to resolve situations where the outcome will reflect our commitment to quality and client satisfaction and to respond to changes.
• Ability to make sound decisions and to react promptly and calmly to unexpected situations.

Education & Experience:

• Bachelor’s degree required: Accounting, Finance, Management, Business Administration, or related field.
• CPA certification required/or in process.
• Previous banking experience, minimum five years management experience, or similar public accounting experience.

Benefits:

Yoakum Bank is a competitive employer and provides many benefits from a choice of insurance coverages to company-matched 401k contributions.

Who we are:

Yoakum Bank was chartered in 1890 and remains to this day a full-service, local financial institution, focused on providing banking services and personal loans to individuals and small business owners in Texas, particularly in the Yoakum, Odessa/Midland, Katy, Ganado, and Edna markets. We are in the growth mode and expect to be growing substantially in size, reach, and range of services over the next several years.

Yoakum Bank conducts employment background checks that may be used for decisions related to employment with Yoakum Bank. Standard background checks performed on final candidates include past employment verifications, criminal history checks on convictions, outstanding arrest warrants within the past seven years and a credit check. Additional background checks relevant to the role may include a motor vehicle registration check. Applicants must be currently authorized to work in the United States on a full-time basis.