VP, Finance
 Lighthouse Credit Union | |
tuition assistance, 401(k), profit sharing
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 United States, New Hampshire, Portsmouth | |
 Feb 26, 2025 | |
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Voted Forbes list of America's Best In-State Credit Unions 7 years in a row! At Lighthouse, our core values drive our mission and vision. Our mission is to enrich and nourish the lives of others to create a community that's Good for You, Good for All. _______________________________________________ OUR LEADERSHIP PHILOSOPHY At Lighthouse Credit Union, we believe all individuals, regardless of position level, are considered leaders. By providing a framework that balances clarity with adaptability, our Leadership Competencies aim to foster a culture of continuous growth and agile leadership. Lighthouse Credit Union is committed to embracing change, nurturing leadership talent, and ensuring our performance management practices are aligned with our vision of fostering a resilient and forward-thinking organization. As such, we all hold ourselves accountable to the following: LEADERSHIP COMPETENCIES Demonstrates Interpersonal Awareness & Skills: A cornerstone of our collaborative work environment, this competency emphasizes effective communication, relationship building and teamwork. It also supports creating a positive work environment that values individual contributions and fosters teamwork. As a senior leader, you will set organizational standards for interpersonal excellence and promote a culture of open communication and teamwork at all levels. Embraces Change & Learning: This competency focuses on adaptability, personal development and the advocacy and embracing of progressive change. You will be challenged to explore continuous learning opportunities to achieve excellence and foster a culture of growth and innovation. As a senior leader, you will coach and develop managerial talent, encourage innovative fail-fast thinking and lead by example while adapting to change. You will also translate organizational strategies into focuses and actionable goals while fostering a culture of continuous improvement and excellence. Utilizes Critical & Creative Thinking: Underlining the importance of innovative problem solving, challenging the status quo and strategic thinking, this competency is vital for driving excellence and leadership. This competency challenges to take initiative beyond one's immediate responsibilities. As a senior leader, you will demonstrate a comprehensive understanding of the business, contributing significantly to business strategy. You will also lead major organizational change initiatives, balancing team talents with their skills and effectively coordinate work across teams to promote positive change and strategic process. Takes Personal Ownership: This competency focuses on taking responsibility for performance goals, proactive collaboration, and accountability. It highlights the significance of each team member taking ownership of their role and contributions while demonstrating leadership qualities regardless of their position. As a senior leader, you will recognize and address organizational stress points, initiate, and participate in leadership development opportunities, and act in the best interest of members and the organization, setting an example of integrity and professionalism. POSITION SUMMARY The VP, Finance leads and manages the Credit Union's Accounting and Finance functions; including but not limited to accounting operations such as general ledger reconciliations, accounting systems, monthly close procedures, daily cash position, allowance for credit loss analysis, comply with GAAP, budgeting, forecasting, financial reporting, and strategic financial planning. This position reports to the Chief Financial Officer and is responsible for partnering with leaders across the organization to provide valuable insights and drive data-driven decision making. The VP, Finance leads the Accounting and Financial Planning & Analysis teams and provides ongoing financial guidance and consultation to the Credit Union's leadership team. Location: Dover, NH ESSENTIAL FUNCTIONS & RESPONSIBILITIES * Builds financial plans for short- and long-term strategic priorities that improve the financial health of the credit union. Plans will be translated into metrics and dashboards for reporting to Executive Management and the Board. * Provides profitability analysis and support at the enterprise, channel, and product level. * Oversees the business review process to develop the annual budget and monthly forecast. * Provides business analytics and performance management tracking support for business plans, incentive plans, performance dashboards (KPI's), and ad hoc business needs. * Supports the credit union business decisions with relevant analyses of the impact of proposed business decisions on interest rate risk exposure, profitability and performance, capital ratios, regulatory requirements, and others. * Develops and maintains various financial or forecasting/planning models to project the operating results and risk exposure. * Certifies completeness and accuracy of monthly financial statements, ALM reporting, and related accounting records of the Credit Union. * Reviews and supervises the preparation of a GL reconciliation of the entire accounting system. * Supervises and reviews the monthly financial close procedures. * Makes recommendations for write-offs. On a quarterly basis calculates the allowance for loan loss analysis in compliance with GAAP and regulatory standards. * Implements the credit unions vendor model for CECL and credit stress testing. * Oversees the daily operations of the department. This includes accounts payable, reconciliation of bank accounts, balancing of consumer and business loans, and the accounting for certain subsidiaries. * Ensures that daily cash accounts are balanced, and funds are moved to meet daily settlement needs. Maintains, tests, and provides required information to support lines of credit and/or other investments within various organizations. * Works with lenders to ensure timely deposit of loan advances and payments of advances when due. * Analyzes and recommends process improvements and automation. * Provides balance sheet risk management analysis including interest rate, funding, liquidity risk, and scenario analysis. Creates a Capital Plan and manages allocation of capital consistent with target settings in annual and long-term plans. * Ensures policies and procedures related to Asset Liability Management (ALM), liquidity and investments are reviewed annually to ensure compliance with regulatory requirements, credit union size, complexity and operations. * Works with an outside vendor in meeting monthly and quarterly ALM risk assessment and reporting requirements by utilizing: Net Interest Income simulations, Economic Value of Equity, and other relevant analyses. Plays an integral, hands-on role in implementation, configuration, testing and validation, and ongoing maintenance of an ALM risk platform. * Supervises and reviews all tax reporting for the organization and its service organizations. This includes annual Form 990, Personal Property Taxes, IRA, and escheating of dormant accounts to states. * Supervises and reviews the NCUA's Call Report on a quarterly basis, ensuring that the report is prepared accurately and within the filing guidelines established by the NCUA. * Develops clear goals and objectives for the team and executes on organizational goals and strategic initiatives. * Takes personal ownership for attracting, hiring, engaging, developing and retaining a diverse talent pool. * Coaches, develops, and engages team members to ensure optimal performance and personal growth. * Evaluates performance within the department; recommends promotions/transfers and salary adjustments. * Performs other duties as assigned. JOB SPECIFICATIONS * Project Management: Develops project plans; coordinates projects; communicates changes and progress; completes projects on time and budget; manages project team activities as needed. * Strategic Thinking: Develops strategies to achieve organizational goals; understands CU's strengths and weaknesses; analyzes market and competition; identifies external threats and opportunities; adapts strategy to changing conditions. * Problem Solving: Identifies and resolves problems in a timely manner; gathers and analyzes information skillfully; develops alternative solutions; works well in group problem solving situations; uses reason even when dealing with emotional topics. * Leadership: Demonstrates self-confidence and instills confidence in others; motivates and encourages peak performance; skillfully influences others' actions and perspectives; earns respect and trust; welcomes feedback and uses it for growth; offers clear vision and inspiration to both peers and subordinates; recognizes others' contributions appropriately; exhibits enthusiasm and optimism; empowers others to achieve the shared vision; mentors and develops the risk management team. * Teamwork: Balances individual and team responsibilities; remains objective and open to others' perspectives; both gives and welcomes constructive feedback; fosters a positive team dynamic; prioritizes the team's success over personal interests; builds morale and strengthens commitment to shared goals; supports the success of all team members; acknowledges and celebrates the achievements of others. EDUCATION, TRAINING & EXPERIENCE * Ten years of progressive experience in Finance, with at least five years in a leadership role, preferably within a financial services organization. * Bachelor's Degree or equivalent in Accounting or finance. Master's Degree preferred. CFA and/or CPA certification would be a plus. * Experience in leading teams and managing cross-functional projects. * Proficiency with accounting and financial software packages. * Ability to create and analyze complex spreadsheets. * Exceptional critical thinking skills, problem solving, analysis and research skills are a must to ensure compliance and recommend ongoing improvements to policies and procedures. * Monarch data extraction or similar product experience preferred. WORK ARRANGEMENT The working arrangement for this position is hybrid. Hybrid work is an opportunity to find the right balance between working in the office and remotely, especially if it supports individual success and the needs of our organization. Hybrid schedules are determined by the hiring manager based on business unit needs and may vary by department. _______________________________________________ Benefits We Offer:
Additional Perks:
______________________________________________________________ LIGHTHOUSE CREDIT UNION IS AN EQUAL OPPORTUNITY EMPLOYER | |