USC Credit Union, a $560 million non-profit financial cooperative located steps from USCâs University Park campus near Downtown Los Angeles, is looking for an experiencedÂ Chief Financial Officer (CFO) reporting directly to the President/CEO. Â As a member of the senior management team, the CFO will be responsible for the financial oversight of the organization.Â This role will be responsible for directing the organizationâs financial plans, establishing policies and procedures to safeguard the organizationâs assets and reporting the operating results of the credit union to both the board and regulators in compliance with both GAAP and Federal/State rules and regulations.Â The CFO will also be responsible for planning, controlling, and directing the credit unionâs accounting and financial reporting systems and have top-level responsibility for managing the companyâs asset/liability management function, organizational and product profitability, member value creation and managing the credit unionâs investment securities portfolio.Â
Responsibilities include but are not limited to:
Develops, implements, and administers the credit unionâs financial and accounting policies, procedures and systems, including the development of the annual budget process and variance reporting.Â Oversees the preparation of various internal, external and regulatory financial reports, including the 5300 Quarterly Call Report and GAAP financial audits
Reviews and analyzes financial statements. Oversees the preparation of financial reports for internal and external stakeholders, to include comparative reports, peer reports, call reports, and tax filingsÂ
Engages with and counsels the senior management team on periodic financial results, highlighting variances to budget and peers, and fosters dialogue, both strategic and tactical, that results in recommendations to exploit opportunities and mitigate shortfalls
Performs financial and strategic analysis of business initiatives (i.e. DCF analysis, profitability, effectiveness, assessment of strategic alignment, cost-savings, etc.) to ensure efficient use of the organizationâs resources
Manages loan participation and other asset purchases and sales efforts and related due diligence, valuation and pricing considerations
Manages the credit unionâs investment portfolio, ensuring adequate liquidity, appropriate returns and asset-class mix.Â Monitors and reports to the CEO all investment activities and portfolio metrics, current and potential risks, and other critical information to ensure optimal management of the investment portfolio
Leads the credit unionâs Asset Liability Management (ALM) process and related board reporting to the Asset Liability Committee.Â Manages the day-to-day interest rate risk, credit risk, liquidity risk, and capital at-risk monitoring and tracking.Â Functions as the subject matter expert on ALM risk and acts as liaison with third-party ALM partners and NCUA/DBO regulators
Responsible for leading the internal share, loan and transaction service pricing committee as well as all product and branch profitability, interest risk management, liquidity and funding risk management, and loan concentration risk management
Responsible for delivering a final annual budget that reflects both operational and strategic planning goals. Develops periodic financial forecasts to reassess the expected performance against established goals working with senior management team for key inputs
Develops tools and systems to provide critical financial and operational information to the senior management team and Board of Directors and makes actionable recommendations on both strategy and operations
Develops and implements cash flow reporting systems to both monitor and proactively mitigate any liquidity concerns
Monitors and ensures compliance with all federal and state regulations and USCCU policies. Reviews or creates credit union policies as necessary to further the objectives of the credit union and, if applicable, mitigate unnecessary risks
Analyzes departmental metrics to provide periodic reports on product performance, service quality, member value and departmental key performance indicators in support of progress toward USCCU strategic and operational goals as needed
Manages third party relationships that are related to all responsible areas. Identify and/or rectify areas of improvement, changes in procedures, new products and services developments, changes in the services to effectively compete in the marketplace
Recruits, develops, coaches and mentors a high-performing finance and accounting team charged with achieving maximum efficiency, accuracy, effectiveness and value-added analysis
Performs other duties as assigned or appropriate
Bachelorâs degree required
Minimum 10+ years of progressive advancement and strong contributions in the financial services industry with a minimum of 5 yearsâ experience as a financial leader
Strong knowledge of finance and accounting, organizational structure dynamics, financial modeling, asset liability management and quantitative analysis
Highly motivated, detail oriented, and passionate about driving member value
Hands-on leader with great communication, presentation, collaboration, consensus building and listening skills
Proven ability to build and manage a diverse finance and accounting team
Experience with a broad array of finance and accounting technical products and systems.
Ability to pass a pre-employment background and credit check
In addition to above, the ideal candidate will possess:
Masterâs degree in finance or a related field
Collaboration, consensus-building and listening skills
Interest and curiosity for innovation and technology
USCCU offers a competitive salary and perhaps the best benefit package in the credit union industry. We are a member-focused, financial cooperative committed to becoming the preeminent financial services provider to the Trojan Family.
â¢Bachelorâs degree requiredâ¢Minimum 10+ years of progressive advancement and strong contributions in the financial services industry with a minimum of 5 yearsâ experience as a financial leaderâ¢Strong knowledge of finance and accounting, organizational structure dynamics, financial modeling, asset liability management and quantitative analysisâ¢Highly motivated, detail oriented, and passionate about driving member value â¢Hands-on leader with great communication, presentation, collaboration, consensus building and listening skillsâ¢Proven ability to build and manage a diverse finance and accounting teamâ¢Experience with a broad array of finance and accounting technical products and systems. â¢Ability to pass a pre-employment background and credit checkIn addition to above, the ideal candidate will possess:â¢Masterâs degree in finance or a related fieldâ¢Entrepreneurial Spiritâ¢Collaboration, consensus-building and listening skillsâ¢Interest and curiosity for innovation and technology
USC’s Viterbi School of Engineering has been one of the economic engines in Southern California and a vital hub in the California economy. The technical innovations and ideas generated by the Viterbi faculty and research community have resulted in countless innovations, many becoming the foundations for new companies, products and services. The thousands of students graduating each year bring new ideas and vitality to companies in California and beyond. With an annual research budget exceeding $205M each year, more than 46 research centers and institutes, more than 180 faculty members, 7,800 students and over 60,000 impassioned alumni world-wide, the Viterbi School is addressing some of the world’s great challenges.
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