Who We Are
First Fed is a local community bank on an exciting growth trajectory with 18 locations including 12 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace for the last 3 years and a Top Corporate Philanthropist in 2023. By popular vote, First Fed received 2023 awards for Best Bank in The Best of the Northwest, Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula. We also received a Best-In-State bank award from Forbes in 2021.
For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!
We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!
Our Values
Optimism: We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.
Initiative: We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.
Respect: We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.
Growth: We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.
Ownership: We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.
Essential Functions
- This position will directly manage the Controller, Treasurer, SEC and Financial Reporting Manager and Manager of Financial Planning and Analysis.
- Owns responsibility for the accuracy of the Bank’s financial data and reporting. Assures that all systems, policies and procedures and financial records are properly maintained.
- Directs the accounting operations of the Bank and all subsidiary companies of the holding company.
- Directs the investment and cash management function by working closely with the Treasurer on funds and bond portfolio management, and the liquidity and asset liability management functions.
- Provide direct reports with proper tools and authority to execute their assigned functions. Develops skills of staff through goal setting, coaching, problem resolution, delegation, training, counseling, and performance management.
- Participate in Bank-wide projects/initiatives, as needed.
Accounting
- Oversees all accounting functions of the Bank and other subsidiaries of the Holding Company.
- Manage the review of all reconciliations and reports prepared by staff including the preparation of month end journal entries, accruals, fixed asset accounting, and tax scheduling.
- Ensures compliance with all Generally Acceptable Accounting Principles (GAAP), Security and Exchange Commission (SEC), Federal Financial Institutions Examination Council (FFIEC) and Bank policies.
- Interprets Financial Accounting Standards Board (FASB) Pronouncements as well as related regulatory accounting issues.
- Analyze transactions to determine the appropriate accounting treatment and ensure that financial reports are prepared in accordance with GAAP, regulatory requirements, or other guidelines. Provides accounting guidance, leadership, and direction to department staff as well as company’s operating units.
- Ensure the accurate and timely filing of tax returns (state and federal) and the preparation of tax provisions for the proper recognition of tax-related amounts in the general ledger and financial statements.
- Coordinate annual financial statement audits and other internal audits, reviews, and exams as they pertain to accounting and finance.
- Prepare audit work papers and serve as a primary contact with external auditors and examiners for annual financial statement reporting.
- Provide auditors with information and support as requested.
- Collaborate with auditors and others to ensure that the policies and procedures, accounting functions, and related activities maintain a strong internal control and quality control environment.
- Develops procedures to ensure that proper Bank-wide financial controls and processes are operating effectively and in accordance with Sarbanes-Oxley (SOX).
Investment, Funding and Capital Management
- Oversee the development of investment policies and strategies to maximize returns on the Bank’s liquidity, while ensuring compliance with regulatory requirements. This includes managing investments in various financial instruments, such as Bank permissible securities (bond), money market instruments, and derivatives. Provide in-depth financial analysis and insights to executive management to support strategic decision-making and performance improvement initiatives.
- Direct the interest rate risk function including oversight of the Bank’s asset liability management model including data preparation, assumption setting and management, internal and board reporting, model validations and back testing.
- Assist the EVP/CFO/COO with the Bank’s funding requirements and capital structure.
Reporting
- Work directly with SEC and Financial Reporting Manager and other members of the team in preparation of SEC and other periodic internal and external reports, financial analyses, and other projects as assigned to meet strict deadlines.
- Oversee the preparation of Bank and Holding Company regulatory reporting.
Financial Planning and Analysis
- Oversees long-term and annual budget process and preparation.
- Directs the ongoing forecasting of both the balance sheet and income statement.
- Oversee all financial planning and analysis using various models and tools.
- Assists with various revenue model development.
- Perform analytics to help provide insight into financial performance, pending financial developments, changes in underlying policies, plans, accounting requirements, market conditions, and economic factors, as well as assist with targeted scenario impact analysis.
- Assist with the development of complex financial projections involving acquisitions, mergers and business combinations. Performs due diligence analysis, as directed.
Analytical and Other Responsibilities
- Researches and implements complex accounting matters.
- Reviews the Bank’s Allowance for Credit Losses (ACL) to ensure it is in compliance with GAAP.
- Perform various reporting and analysis as needed.
- Assist the EVP/CFO/COO with all investor relations and reporting.
- Develop and maintain a working knowledge of Bank policies, procedures, and systems.
Qualifications/Requirements:
- Typically requires ten (10) years of progressive, directly related work experience at a financial institution and over five (5) year of supervisory experience. Public bank experience desired.
- Experience working in a public accounting firm.
- Demonstrated knowledge of GAAP, financial and regulatory standards, as well as an understanding of economic theory and practical application.
- Ability to ensure compliance with accounting pronouncements, SEC, FDIC, Sarbanes-Oxley, And FDICIA requirements.
- Excellent analytical skills in interpreting and applying complex GAAP and other accounting standards.
- Working knowledge of financial institution products, policies, and procedures.
- Ability to analyze and interpret financial statements, operating results, and forecasts as they affect the Company and make recommendations in support of the Company’s strategic goals.
- Working knowledge of generally accepted accounting principles.
- Must be well organized, detail-oriented, motivated, and able to multi-task and work under pressure in an often fast-paced and dynamic work environment.
- Ability to lead and manage staff, with a focus on developing future leaders for the Bank.
- Ability to work effectively with all levels of personnel and conduct all relationships in a professional and positive manner.
- Ability to work independently and effectively as part of a team whenever necessary.
- Demonstrated strong verbal and written communication skills, organization skills, and presentation skills.
- Strong interpersonal skills with ability to work effectively with all levels of the organization.
- Strong PC skills required, including proficiency with Microsoft Office applications (Word, Excel, Access, PowerPoint) and familiarity with financial models.
- Strong analytical and mathematical skills.
- Strong project management skills.
- Ability and willingness to travel occasionally to all First Fed locations and other locations as needed.
- Ability and willingness to work extended hours if necessary to complete the requirements of the position.
- Valid Washington State Driver’s license is required.
Physical Requirements:
The work requires the ability to operate office machines and equipment, such as personal computers, printers, copying machines and telephones. The work requires the ability to communicate clearly with customers, coworkers, and others in person and on telephones. Work activities involve combinations of sitting/standing for extended periods.
Pay Range
- The pay range for this position is $139,200 - $284,000.
- The typical hiring range for this position is $139,200 - $230,000.
- The incentive plan for this position is the Executive Cash Incentive plan. It is paid out annually based on bank performance.
- Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more! Additional information on our benefits package can be viewed at https://www.ourfirstfed.com/careers
Experience
- 10 year(s): Typically requires ten (10) years of progressive, directly related work experience at a financial institution and over five (5) year of supervisory experience. Public bank experience desired.
Education
- Bachelors or better in Finance or related field
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
