Chief Accounting Officer
Company: First Federal Bank
Posted on: January 18, 2023
Bank Job Description
Position Title: Chief Accounting Officer
Position Reports to: Chief Financial Officer
Position Supervises: Controllers (Bank and Insurance
Agency)Position Summary:The Chief Accounting Officer will lead the
accounting team and is responsible for the strategic direction of
the accounting function, the control structure in place over
accounting and external reporting, regulatory reporting, managing
external financial audits and leading the accounting team to
implement the systems, processes and controls that support a
growing, high-performing financial institution. Provides senior
management oversight of all corporate accounting functions and
staff including: bank/corporate accounting, tax, Allowance, and
financial/regulatory reporting. Serves as the primary corporate
accounting representative to all management committees.Duties and
- Provide senior management oversight to all corporate accounting
functions, including the financial closing process of all entities
and ensuring completion of all closing activities within the
required timeframes. Review complex accounting activities including
consolidations, eliminations, and inter-company activities.
- Direct the company's evaluation and implementation of new
accounting standards and pronouncements.
- Partner with the CFO to assess accounting and tax implications
for all material business decisions.
- Oversee the bank's Allowance measurement process and resources
ensuring credit loss reserves are appropriately established under
GAAP and regulatory guidance. Collaborate with Credit and Risk to
ensure compliance with company policies.
- Assist executive management team in performing due diligence on
acquisitions and manage all purchase accounting activities
associated with mergers and acquisitions including serving as
liaison to valuation experts and external accountants.
- Ensure maintenance of effective internal controls and
appropriate accounting policies and procedures, including
evaluation and documentation of processes and controls for
compliance with SOX 404.
- Serve as an expert support resource and provide guidance to
corporate accounting team in resolving complex and/or unusual
- Oversee all aspects of corporate tax compliance and reporting
including, but not limited to, review of: monthly and quarterly tax
provisions, tax returns prepared by third party preparer, estimated
tax payments and tax footnotes/disclosures.
- Serve as a primary point of contact for tax preparers, auditors
and third-party consultants.
- Review completed internal financial reports of all entities,
variance analyses and supplemental schedules; draft financial
statement commentary for board-level financial reporting packages;
present results at quarterly Audit Committee meetings.
- Serve as a key point of contact for the quarterly and year-end
external audit process while owning primary responsibility for the
Company's views on technical accounting matters.
- Accountable for the quarterly SEC reporting process including
the review of complex financial statement schedules and the
drafting of disclosure language and narrative.
- Collaborate with the CFO in the drafting of quarterly earnings
- Act as a leader, motivator and team-builder of staff within the
corporate accounting function.
- Maintain ultimate ownership of all corporate accounting
software systems including, but not limited to, the general ledger
and GL reconciliation solutions. Continually evaluate the adequacy
of such systems and recommend new technologies to improve
efficiency or streamline operations.
- Responsible for department budgets and other performance
- Create accounting strategies to maximize profits and analyze
accounts to suggest improvements to reduce costs and increase
- Oversee the process to provide financial information and
reports that will assist business line managers in performing their
- Demonstrate a positive reflection of the organization in public
through their actions and behaviors.
- Maintain and ensure compliance standards by complying with all
company policies and procedures.
- Complete other duties as assigned.Education, Certification,
License and Experience:
- CPA or equivalent required
- Bachelor's degree in accounting required. Master's degree
- Minimum 10 years of bank/financial institution experience
including 5+ years at a public accounting firm.
- Expert level knowledge of corporate accounting, tax accounting,
GAAP and bank regulatory requirements. Experience with insurance
agency accounting preferred.
- Advanced skills in Microsoft Excel.Skills and Knowledge:
- Has strong knowledge of theory, standards, and principles of
accounting and their application to bank situations. Ability to
research GAAP and regulatory guidance and applying those or any
changes to the Company. Capability of developing and/or monitoring
of internal controls, financial reporting, Securities and Exchange
Commission filings and regulatory reporting.
- Responsible for knowing and ensuring compliance with applicable
laws, regulations and guidelines, as detailed in policies that
include but are not limited to Bank Secrecy Act and other
applicable anti-money-laundering rules, Fair Lending,
- Community Reinvestment Act, Gramm-Leach-Bliley Act, and other
laws and regulations as they pertain to the position.
- Proven ability to work without significant supervision.
- Effective communication skills to translate complex data into
meaningful and easy to use information.
- Ability to communicate with staff, middle management, senior
management and Board of Directors.
- Exceptional managerial and team building skills.
- Solid writing, analytical and problem solving skills.
- Ability to manage multiple concurrent projects.
- Ability to utilize technology in solving problems and
performing duties.This job operates in a professional office
environment. Work is normally performed in a typical interior work
environment which does not subject the employee to any hazardous or
unpleasant elements.Physical Requirements:The physical demands
described here are representative of those that must be met by an
employee to successfully perform the essential functions of this
job. While performing the duties of this job, the employee is
regularly required to speak or hear, stand or sit for long periods
of time, open filing cabinets, walk, stoop or bend, use hands to
handle or feel and reach with hands and arms. The employee must
frequently lift and/or move up to 10 pounds, occasionally lift
and/or move up to 25 pounds and complete tasks requiring manual
dexterity. Ability to drive a vehicle for travel is required for
the position.Premier is an Affirmative Action and Equal Opportunity
employer. We consider all qualified applicants without regard to
race, religion, color, sex, national origin, age, sexual
orientation, gender identity, disability or any other legally
protected status.The above statements are intended to describe the
essential functions of the job and the qualifications of the person
assigned to it. They are not intended as an exhaustive list of all
job duties, responsibilities and requirements. Duties,
responsibilities and activities may change or new ones may be
assigned at any time with or without notice. Reasonable
accommodations may be made to enable individuals with disabilities
to perform the essential functions. This job description does not
constitute a contract of employment. Employment is "at will" and
may be terminated at any time.
Keywords: First Federal Bank, Youngstown , Chief Accounting Officer, Accounting, Auditing , Youngstown, Ohio
Didn't find what you're looking for? Search again!