Chief Financial Officer

Owen County State Bank • Remote (IN, United States) • $200k - $250k / year • 1m ago

The position is responsible for directing the accounting and financial reporting activities of the Bank by performing analyses and making recommendations for financial planning.

Job Duties

Develop and maintain the accounting policies, reports and financial internal controls.
Allocate the Bank’s assets and liabilities and recommend interest rates on deposits.
Prepare the Bank's annual budget.
Provide consultation and recommendations on loan rates.
Develop management reports for the various Bank departments and the Board of Directors.
Prepare annual reports, call reports, and other regulatory reports for the Bank and Owen Financial Corporation.
Responsible for tax management of the Bank which includes preparing federal and state tax reports for the Bank's outside CPA firm and calculating all federal and state estimated payments throughout the year.
Maintain working knowledge of regulations and accounting procedures and ensure that the Bank is in compliance with accounting standards.
Manage the Bank’s investment portfolio for liquidity, income, and asset/liability considerations. Assist in maintaining all investment records.
Responsible for obtaining wholesale funds by borrowing money from the FHLB.
Monitor the daily cash position with correspondent banks.
Make wire transfers as needed for Bank's accounts at correspondent banks.
Serve as contact person for correspondent banks.
Work closely with external auditors and Federal and state examiners.
Prepare reports for monthly Board meetings.
Serve on the IT, Compliance, and Troubled Debt Committees.
Responsible for maintenance of Bank's fixed assets accounting and depreciation records.
Stay abreast of current national and international economic conditions and determine their impact on the Bank.
Ensure that the Corporate Accounting department is operating smoothly and efficiently.
Chairman of Bank’s Asset/Liability Committee.
Serve as Treasurer and Vice President of Owen Financial Corporation.
Comply with Bank Secrecy Act.
Responsible for the Financial Management of the Bank.

Minimum Qualifications

Bachelor of Science degree in Accounting or Finance with minimum experience of at least three years in management accounting. CPA or MBA preferred.
Computer operation experience with proficiency in Microsoft Excel.
Excellent verbal and written communication skills.

Key Job Elements

Ensure the Bank maintains a healthy financial condition.
Ensure the Bank complies with both generally accepted accounting procedures and regulatory accounting procedures.
Ensure assets of Bank are safeguarded and are fully employed.

Performance Expectations

Timely and accurate distribution of financial statements.
Effective supervision assuring efficient unit operation with high service quality delivered by well-trained and knowledgeable employees.
Timely and accurate filing of regulatory reports and income tax returns.
Effective management of the Bank's financial planning and reporting as determined by Bank objectives.
Provide effective cash management for the Bank.
Ensure Bank maintains compliance with generally accepted accounting principles and regulatory principles.
Ensure net interest margins are maintained over the interest rate cycles at >/= 3.00%.
Ensure the Bank maintains a healthy financial position with an ROA >0.50%, capital/assets ratio >8%, and earning assets >/= 90% total assets.
Participate in Asset/Liability management policy and effectively implement the decisions.

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