Job Description

Data Year: 2021
Prepared On: 09/01/2021


Department: Accounting

Grade: 16


 Responsibilities entail overseeing the Accounting and Deposit Operations departments. 

Supervision of the Accounting department includes preparation of reports and financial statements that are in conformity with generally accepted accounting principles (GAAP) and regulatory requirements. Reviews and ensures the integrity of the general and subsidiary ledgers. Identifies and implements new accounting standards and changes to existing standards. Ensures the timely and accurate production of financial reports for executive management and the Board of Directors. Supports executive management with accounting data and analysis. Will act as the primary liaison for internal and external audit.

Supervision of the Deposit Operations department including daily operations and strategic direction of the department. This includes managing areas including document management (research, retention, scanning and indexing), items processing, wires, mail processing, and supply purchasing. Stays abreast of industry knowledge and best practices in areas of oversight. Manages risk associated with deposit services by ensuring controls, policies, and procedures are established and adhered to. Recommends product/process enhancements and leads initiatives to implement approved recommendations.

Leads and participates in teams to achieve short-term and long-term organizational goals and strategic initiatives..

The right person for this role will have a positive, proactive presence and will be highly involved in the day-to-day activities and leading the Accounting and Deposit operations team.

Ensures all Accounting and Deposit Operations department personnel provide outstanding service to members and Credit Union co-workers


Essential Functions & Responsibilities:


E 30% Oversees the daily and month end operations of the Accounting and Deposit Operations departments including cash management, bond accounting, investment safekeeping, accounts payable, payroll, general ledger, fixed assets, discount window collateral files, item processing, wires, document management, mail processing, escheatment, and supply purchasing. Assists staff with problems, allocates human resources as needed to maintain scheduled completion dates. Acquires resources needed to insure completion of all assigned departmental responsibilities.

E 20% Presents financial performance review to CEO and CFO as part of the monthly close process. Presents financial results at monthly management and Carrot meetings (organizational wide staff meeting.) Performs financial analysis for budgeting variances. Supports executive management with accounting data and analysis. Oversees the preparation and ensures accuracy of all financial statements, board reports, tax returns and external reporting.

E 10% Develops and maintains monthly department key metrics and dashboards.

E 10% Oversees the Credit Union’s vendor due diligence policies and processes for the selection of any new vendor and monitoring and reviewing existing third party vendors on an annual basis.

E 10% Researches, recommends and implements new processes and products that enhance member service andor create efficiencies to Accounting and Deposit Operations.

E 5% Works with auditors/examiners on internal, FHLB, and external audits/exams.

E 5% Assists and supports other operational areas and Senior Management with accounting issues and ensures department sales and service standards are met.

E 5% Trains, directs, and evaluates employee performance for assigned staff within the department; participates in hiring new employees and recommends promotions/transfers and salary adjustments.

N 5% Other duties as assigned


Performance Measurements:


1.Ensures the department meets all deadlines, with minimal errors and no errors that result in financial loss to the credit union.

2.Ensures that the credit union's books and general ledger accounts are appropriately maintained, reconciled and in balance.

3.Maintains highly qualified staff, sufficient to meet departmental demands.

4.Keeps the SVP/CFO and Senior Management timely informed regarding key operating issues.

5.Satisfies the job expectations with normal management and minimum oversight from the SVP/CFO.

6.Employee demonstrates an understanding of and follow the requirements of all regulation compliance including but not limited to those Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), Customer Identification Program (CIP) and Member Due Diligence (MDD) as it specifically relates to their job functions. Employee shall be trained annually in BSA/AML compliance.


Knowledge and Skills:


Experience: Five years to eight years of similar or related experience.


Education: (1) A bachelor's degree with a heavy concentration in accounting, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree (e.g. information technology certifications in lieu of a degree). CPA preferred.


Interpersonal Skills: Work involves extensive personal contact with others and is of a personal or sensitive nature. Motivating, influencing, and/or training others is key at this level. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.


Other Skills: Advanced spreadsheet skills and functional word processing skills required. Understanding of GAAP (Generally Accepted Accounting Principles). Accounting Rules and Regulations of Federally Chartered Credit Unions as applicable to State Chartered Credit Unions. NCUA CFR Part 703 relating to the management of credit union investment portfolios. Knowledge and operating proficiency in the use of ALM (Asset Liability Management) modeling software.


Physical Requirements

While performing the duties of this job, the employee is regularly required to use hands or fingers, handle or feel; reach with hands and arms; talk and hear. The employee frequently is required to stand, walk, and sit. Specific vision abilities required of this job include close vision and ability to adjust focus.


Work Environment

Work is performed indoors with some potential for exposure to safety and health hazards related to electronics work. There is exposure to potential hazardous conditions such as robbery. Employees are to receive detailed instructions and procedures to follow in order to minimize risk. 
In accordance with the American with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

Job descriptions are not intended and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.



This Job Description is not a complete statement of all duties and responsibilities comprising the position.