Job Summary

Main Street Bank, a $1.3B Mutually Chartered Community Bank that serves both consumer and commercial customers in Central and Eastern Massachusetts and Southern New Hampshire, has an opening for a Chief Financial Officer. The position will serve as an effective member of the Senior Management team, combining business judgement, strategic planning, leadership skills, communication effectiveness and industry vision.

The successful candidate will demonstrate a forward-looking and growth mindset, embrace data driven decision making, and have a track record for motivating and leading their direct reports.

Title: Chief Financial Officer

FLSA Status: Exempt Employment Status: Full Time

Department: Finance Location: Ayer/Marlborough - Flexible/Hybrid Work Model Eligible

Reports To: Chief Executive Officer

SUMMARY: The Chief Financial Officer will serve as a key member of Main Street Bank’s leadership team and will assist the CEO and other business line leaders in developing and implementing data-driven and innovative strategies to differentiate the bank and build towards continued sustainability. Successful candidates will demonstrate a forward-looking and growth mindset, embrace data-driven decision making, and have a track record of motivating and leading his or her direct reports.

Management responsibility would include treasury, budgeting, tax, accounting, asset and liability management, and financial control activities. Plans, directs, and controls the bank’s overall financial plans and policies, accounting practices, and relationships with lending institutions, as well as the financial community. Develops and coordinates necessary and appropriate accounting and statistical data and reports. The CFO counsels Senior Management on fiscal control and profitability and is responsible for the fair measurement and presentation of the bank’s financial results and condition under U.S. GAAP, and for the safeguarding and optimum use of the bank’s assets in order to maximize return. The CFO directs the accounting and treasury functions providing leadership, training and supervision while ensuring compliance with company policies and procedures, applicable state and federal banking regulations and tax laws. Additionally, this position embraces the established sales and service culture to maximize their contribution to the Bank’s goals.

After successful completion of training and proven abilities, this position is eligible for a hybrid work arrangement with an agreed upon number of days per-month on site.

ESSENTIAL DUTIES and RESPONSIBILITIES:

In the performance of respective tasks and duties, the employee is expected to successfully perform quality work within deadlines with or without supervision, interact professionally with other employees, customers and suppliers; work effectively as a team contributor on all assignments and work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.

• Assist the CEO in developing financial strategies to optimize risk-adjusted returns.
• Serves as an effective member of the Senior Management team, combining business judgement, strategic planning, leadership skills, communication effectiveness and industry vision.
• Monitors interest rate, credit and portfolio risk status and set limitations as required for Asset/Liability Management.
• Monitors interest rate risk, identifying ways to reduce interest rate risk and sensitivity. Is responsible for managing liquidity and capital positions. Provide detailed ALCO and Investment reports to Board and Executive Management. Updates the ALM policy in accordance with governing rules and regulations.
• Manages and optimizes the investment and borrowing portfolios of the bank in order to achieve above average earnings and safeguard the assets of the financial institution for the customers.
• Oversees, evaluates and interprets statistical and financial reporting on the status of the financial institution to provide management and the Board of Directors information useful for superior decision making and to ensure the compliance, integrity and efficiency of all financial account records and the timely and accurate preparation of all financial management information.
• Oversees all required regulatory reporting to assure compliance in the most cost-effective manner and minimize legal liabilities.
• Oversee budget planning, preparation and administration processes to control operating expenses and achieve the company’s strategic objectives. Provides financial statements and analysis including monthly variances and reports same to the Finance Committee and the Board of Directors.
• Works with vendors to acquire adequate and appropriate casualty and liability insurance coverage to adequately protect the financial institution from various types of exposure, including Board insurances.
• Negotiate significant vendor contracts in a manner that protects the financial interests of the institution and provides superior value to the customer.
• Represents the firm on financial matters with industry, governmental, and regulatory organizations.
• Serves as the management lead of the board’s Finance Committee and is a participant of the Compensation Committee, Strategic Planning Committee, Technology Committee and the Audit Committee.
• Performs research and special projects as directed by the President/CEO.

• Assist internal, external, and regulatory auditors with the collection of requested materials as assigned with their respective engagements.
• Develops and maintains relationships with other departments and organizational leaders and maintains operational alignment with core values, vision, strategy, and goals.
• Readily volunteer and accept assignments to special tasks established to address specific issues and opportunities.
• Regular and consistent attendance is required in order to continue the high standard of customer service
• Adhere to all company policies and act as a role model in the adherence to policies, consistently demonstrating our core values and service standards.
• In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and adheres to compliance procedures and internal/operational risk controls in accordance with all applicable regulatory standards, requirements and policies as well as attending all required training sessions and completing all required on-line training courses.
• Other duties as assigned, performing similar or related work as directed, required, or as situation dictates.

SUPERVISORY RESPONSIBILITIES:

In alignment with our Core Values, Lean Principles direct staff according to business needs, and established goals/objectives that are aligned with the Strategic Plan.

• Manage assigned staff to maximize productivity, efficiency, and the potential of the human assets of the company, including: directing job assignments, monitoring staff performance, coaching, counseling, training, assuring compliance with regulatory requirements and organizational mission, values, policies and work rules.
• Completes performances reviews, recommends employment decisions, disciplines and develops staff as necessary

LEVEL OF RESPONSIBILITY: 

Participates in developing and executing the strategic plan to meet the bank’s overall competitive position within the financial services industry. Works independently along all staff levels and with complex and proprietary information. Responsible for managing, mentoring, and coaching the Accounting and Finance team. Influence as subject matter expert to help guide the leadership team in financial decisions.

EQUIPMENT REQUIRED:

• Smart Phone - To enable the MFA (Multi Factor Authentication) facilitating access to MSB systems.

HYBRID ENVIRONMENT:

• Your remote set-up must provide a dedicated workspace, free from distraction with high-speed, reliable internet is required.

SKILLS REQUIRED:

• Minimum: Bachelor’s Degree in Accounting, Finance, Business Administration or Economics. Desired: A post graduate degree (similar to a CPA, or MBA)
• 7- 10 years in banking financial management.
• Experience in investment strategies and management of liquidity and investment portfolios.
• Commitment to data-driven decision making. Ability to build out the infrastructure to deliver accessible data across bank.
• A well-developed professional peer network to help navigate new territory.
• Experience in generally accepted accounting principles and all State and Federal regulations, including those of the Financial Accounting Standards Board, affecting the company’s finance function.
• Experience in budget forecasting and regulatory reporting.
• Knowledge of income tax regulations and requirements for Mutual institutions
• Ability to weight competing priorities and direct staff according to business needs.
• Project coordination experience
• Proficient in Microsoft Office Suite products
• Solid understanding and application of administration activities with an understanding of office procedures and ability to operate standard office equipment
• Means and mode to travel to any of Main Street Bank’s locations as needed on a regular basis.

COMPETENCIES:

• Strategic Management
• Leadership
• Communication
  • The ability to obtain cooperation and agreement on important outcomes via frequently complex, senior level dialogues, as well as a professional level of written communication skills are essential.
• People Management
  • The ability to motivate or influence internal or external senior level professionals is a critical part of the job, requiring a significant level of influence and trust.
  • Organizing, managing, training and motivating personnel
• Relationship Builder
  • Develops and maintains relationships with officers, employees and external contacts and maintains alignment with core values, vision, strategy and goals.
• Professionalism
• Integrity
• Flexibility
• Adaptability
• Proactive
• Accountability
• Confidentiality, Discretion
• Computer Technology Savvy - Utilize technology/systems to improve work processes and use a range of technology to solve problems

LANGUAGE/COGNITIVE SKILLS:

The person in this position frequently communicates with Board of Directors, Senior/Executive Management and other employees, about financial reporting and its results and therefore must be able to exchange accurate information in these cases. They will need to, use judgment and discretion in decision making situations, interpret and follow all Bank policies and procedures, write/create reports and business correspondence, (Main Street Bank’s standard language is English). As well as the ability to:

• Speak and effectively present/communicate information and respond to questions from, groups of managers, the Board of Directors, vendors and other employees.
• Define problems, collect data, establish facts and draw valid conclusions.
• Read, analyze and interpret a variety documents such as financial statements, accounting system generated reports and Bank policies and procedures.

WORKING CONDITIONS AND PHYSICAL EFFORT: The physical and work environment demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is required to:

Physical Demands/Efforts

• Occasionally lift and/or move up to 25 pounds, (i.e. files/ file boxes)
• Frequently required to remain in a stationary position, 50% of the time
• Occasionally required to stoop and bend

Mental & Visual Demands

• Consistently operate a computer for extended periods of time
• Specific vision abilities may be required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus
• Regular use of office productivity machinery (i.e. a calculator, copy machine, fax machine, computer printer).

Work Environment and Hazards

• Regularly move throughout the inside the Bank to access resources and individuals
• Regular local travel for bank purposes and/or on behalf of the bank (i.e. meetings, networking, training).
• The employee must be able to work schedules that meet the needs of the bank, which may include early morning, evening and/or weekend hours.
• It is a general office environment where the noise level is moderate

AMERICANS WITH DISABILITIES ACT

Main Street Bank complies with all aspects of the Americans with Disabilities Act (ADA) and state disability laws. This means that we will not discriminate against qualified individuals with a disability in any phase of the employment relationship including application for employment, hiring, promotions and/or advancement opportunities, termination, compensation, training and any other conditions or privileges of employment.

Main Street Bank is an Equal Opportunity Employer

Individuals with disabilities and veterans are encouraged to apply

Applicant Notice

The completion of this Application for Employment does not assure a position with Main Street Bank and any offer of employment is conditioned on the satisfactory completion of a background and credit review as determined by the sole discretion of Main Street Bank. Neither this Application for Employment nor any document constitutes a contract of employment for a specific term and that any employment relationship that may be established will be 'at-will' and if hired, may be terminated at any time, for any reason, by the applicant or Main Street Bank.

Massachusetts Law - It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Massachusetts General Laws c. 151B prohibits employers from (1) terminating or refusing to hire individuals on the basis of genetic information; (2) requesting genetic information concerning employees, applicants, or their family members; (3) attempting to induce individuals to undergo genetic tests or otherwise disclose genetic information; (4) using genetic information in any way that affects the terms and conditions of an individual’s employment; or (5) seeking, receiving or maintaining genetic information for any non-medical purpose.

Main Street Bank is an Equal Opportunity Employer, we are committed to recruiting, hiring, training, and promoting persons without regard to race, color, religion, national origin, citizenship, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, military service, genetic information, and gender identity.