Description

WHO WE ARE

City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) principally focused on a transformative impact in underserved, urban markets with the highest needs to drive equitable economic development. Our lending activities are purely commercial and focused on the following segments: Multifamily Affordable Housing, Not-for-Profit Finance, and Small Business Finance. As a depository and commercial lending provider with over $1.4 billion in bank assets as of December 31, 2023, our unified organization has over 100 employees in Washington DC and Los Angeles/Inglewood, CA.

ROLE SUMMARY

The Chief Accounting Officer (CAO) is a senior executive responsible for overseeing the accounting operations of the community bank. Reporting directly to the Chief Financial Officer (CFO), the CAO plays a critical role in ensuring accurate financial reporting, maintaining compliance with regulatory requirements, and implementing effective internal controls. The CAO leads a team of accounting professionals and collaborates closely with other departments to support strategic initiatives and drive financial performance.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

Financial Reporting:

• Oversee the preparation and distribution of accurate and timely financial statements, including balance sheets, income statements, and cash flow statements.
• Ensure compliance with Generally Accepted Accounting Principles (GAAP) and other relevant accounting standards.
• Coordinate with external auditors for the annual audit and quarterly reviews.

Internal Controls and Compliance:

• Develop and maintain internal control policies and procedures to safeguard assets, ensure accuracy of financial records, and prevent fraud.
• Monitor compliance with regulatory requirements, including banking regulations, tax laws, and accounting standards.
• Implement improvements to internal controls and processes as needed to enhance efficiency and effectiveness.

Tax Compliance and Reporting:

• Ensure compliance with federal, state, and local tax laws and regulations.
• Coordinate with external tax advisors to prepare and file tax returns, including income tax, sales tax, and property tax filings.
• Identify tax planning opportunities to minimize the bank's tax liabilities.

Team Leadership and Development:

• Provide leadership and guidance to the accounting team, fostering a culture of accountability, integrity, and continuous improvement.
• Recruit, train, and develop accounting professionals to build a high-performing team.
• Conduct performance evaluations and provide feedback to staff to support their professional growth and development.

Requirements

EDUCATION & EXPERIENCE

Required Education/Experience:

• 4-year College Degree required in Accounting, Business, Finance, or related field.
• 10 or more years of experience in accounting or finance roles, with strong, progressive leadership skills and responsibilities.
• 5 years of experience in banking/financial services working with the general ledger, reconciliations, month-end closings, and other general accounting processes.
• Experience with a public company is preferred.

CERTIFICATIONS

CPA strongly preferred.

KNOWLEDGE, SKILLS, AND ABILITIES

Required Knowledge & Skills:

• Thorough understanding of accounting principles, financial reporting requirements, and regulatory compliance in the banking industry.
• Strong analytical and problem-solving skills, with the ability to interpret financial data and provide actionable insights.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively with internal and external stakeholders.
• Proven leadership abilities, including experience managing teams and driving organizational change.
• Proficiency in accounting software and financial management systems.
• Ability to collaborate with other departments throughout the Bank