Chief Financial Officer

Chief Financial Officer (CFO)

Reports to : President

Essential Duties and Responsibilities

As a key strategic member of the executive management team, this position will assume broad responsibility for corporate finance and oversight of mortgage and secondary market activities. Additionally, will lead and manage bank's finance, accounting departments and investment portfolios. This individual will play a vital role in the growth of the bank by leveraging new capital based on the current strategy and development of new initiatives. Will act as a business partner to all divisions to provide financial counsel.

Job Functions

• Prepare, present, and interpret budgets, financial reports and key metrics to senior management and the Board of Directors addressing the financial performance of the bank.
• Manages the processes for preparation of consolidated financial statements for the company in conformity with generally accepted accounting principles.
• Develop and monitor accounting policies and procedures to ensure sound financial control of the corporation. On an ongoing basis, counsel senior management on fiscal control, performance and profitability.
• Direct the day-to-day activities of the accounting department including providing leadership, training and supervision within the department.
• Responsible for keeping abreast of economic conditions and monitoring all financial performance measures such as cash flow, income and expense, budgets, assets mix, assets quality, funding requirements, ALCO issues, capital and other various key ratios.
• Responsible for managing the Bank's correspondent Banking relationships with counterparties such as the Federal Home Loan Bank, Federal Reserve and Community Bankers Bank but not limited to.
• Monitor and manage the Bank's asset and liability management and funding management program for the Bank.
• Manage the Bank's investment portfolio. With priority on prudent management of risk and return based upon the investment policy.
• Responsible for leading the Asset and Liability risk management committee (ALCO) and for managing the preparation of interest rate risk management models analyzing the interest rate risk position. Additionally, leading the product and pricing committee for effective review and prudent management of the bank's asset or liability pricing.
• Develop financial models to assist with budgeting, forecasting and analyzing revenue and key operating expenses to achieve annual operating objectives.
• Responsible for the analysis of vital qualitative and quantitative data and presentation of strategic operational initiatives to the company's Board of Directors and Investors.
• Ensure that all corporate financial reports are prepared and submitted to management, the Board of Directors, auditors and regulatory agencies as required.
• Coordinates examinations by independent public accountants, prepares statements for financial audit.
• Manages preparation of the Bank's income tax returns.
• Evaluates & manages the effectiveness of internal controls relative to financial accounting.
• Ensures that accounting and reporting policies are followed and conform to general practices within the banking industry.
• Manage the preparation of the Bank's Call Report and other regulatory filings.
• Manages the Bank's Safety & Soundness Examinations conducted by the FDIC and the Virginia Bureau of Financial Institutions.
• Manages payroll accounting, including benefits expense administration.
• Coordinate and prepare the annual budget and the financial measurements of the bank's strategic plan.

At Movement Bank, we exist to love and serve our communities with a Purpose Bigger Than Banking. We aim to bridge the wealth divide, connect those with resources to those excluded, and transform communities through long-term investment in business, housing, and education. When you join our team, you become part of our movement, our story, and our legacy.