Controller

POSITION DESCRIPTION: The Controller is responsible for directing and coordinating all financial functions of the Bank. Responsibilities include maintaining all accounting systems within the organization to accurately reflect the financial position of the Bank. Managing and performing financial analysis to assist management in strategic decision making and supervising interest rate risk modeling, gap and liquidity analysis. The incumbent is responsible for accurately recording, and reporting, all financial transactions in accordance with accepted accounting principles and in compliance with applicable laws and regulations. Working with Executive Management, the Controller assists in developing the Bank’s annual operating and capital budgets in alignment with the Bank’s strategic plan. The incumbent is responsible for monitoring department policies and maintain accurate procedures. Additionally, the Controller works with the CFO to create, establish, and implement major departmental goals and objectives. The Controller is the main point of contact for the department internal and external audits, and is responsible to keeping, organizing, and delivering all necessary information. The incumbent serves as to the financial liaison to other departments throughout the organization ensuring that all finance activities are supported and in accordance with established legal, regulatory and board approved policy. Assigns, directs, and appraises finance staff in an effort to maximize development and productivity.

The position will participate in the development and implementation of Bank objectives and strategies to sustain the bank’s financial condition. These objectives center around maintaining profitable growth and positioning the bank to develop new products and services with appropriate pricing as it correlates to the Bank’s annual budget and the Strategic Action Plan. Additionally, the Officer will assess and set department priorities as well as ensure that policies and procedures of the Bank comply with established risk parameters and appropriate laws and regulations.

LEADERSHIP COMMITTEE:

Serves as a member of Leadership Committee. In this capacity, incumbent participates in all aspects of the leading of the Bank and has shared responsibility and accountability for the safety and soundness of the Bank. Assessment factors for the Leadership Team include performance relative to the Bank’s Annual Budget and longer-term Strategic Plan, as well as applicable peer groups. Applicable audit results as well as regulatory ratings for safety & soundness (CAMELS) and compliance also figure prominently.

GENERAL DESCRIPTION OF DUTIES:

• In conjunction with the CFO, responsible for the financial planning of the Bank and maintenance of applicable policies including the Investment and ALCO Policy; Key participant in all ALCO and coordinates agenda and meetings. Participates in strategic planning and is instrumental in execution of related goals and objectives.
• Assists CFO with strategy related to liquidity, investments and overall Balance Sheet management. Manages daily operational aspects of liquidity, collateral accounts, and the investment portfolio. Routinely interfaces with outside consultants including the Bank’s financial auditor and investment advisor.
• Responsible for oversight of the Bank’s quarterly interest rate risk model, including but not limited to income simulation reports, EVE reports, hedge reports and liquidity reports. Reviews all interest rate risk model assumptions.
• Provides leadership to Finance personnel through training and effective delegation. Responsible for developing and continuous improvement for the entire finance team. Appropriately sets challenging goal and ensures quality communication. Responsible for developing back up and succession planning for the department and conducts performance appraisals as assigned.
• Responsible for coordinating and developing the Bank's annual operating and capital budgets. Solicits information from all operating departments for that purpose.
• Serves various role within the Bank’s Management Committee structure. Takes critical leading role in Pricing Committee and ALCO. Presents at Board level Investment ALCO committee quarterly.
• Manages secondary loan pricing and sales function. Works with ALCO to implement loan sale strategy and oversees execution of annual sales goals. Collaborates with lending to ensure sound sales process, including competitive pricing, rate lock program, and accurate and timely delivery of loans.
• Manages all the activities of the accounting function, which includes daily general ledger processing, daily reconciliation of all core processing applications, and reconciliation of correspondent bank accounts, investment ledgers, borrowings, fixed assets, prepaid assets, accrued liabilities and accounts payable.
• Oversees all investment accounting activities, which includes accounting for new purchases, sales, maturities, principal payments, and monthly income accruals.
• Oversees all accounts payable activities, ensuring that expenses are properly approved, recorded, and completed on a timely basis. Enacts sounds controls and procedures to mitigate risks, which include fraud risk, errors and overpayments, tax errors etc.
• With respect to liquidity oversight, manages, short term and long term funding; this including deposit concentrations (including uninsured deposits), wholesale funding (brokered CDs, FHLBB, swaps), borrowing operations, and setting an appropriate mix of core deposits.
• Oversees the timely preparation of daily, monthly, annual and other periodic financial statements and reports required for use by the Board of Directors and Leadership Committee. Ensures external document submissions and filing are accurate and timely.
• Responsible for FDIC Call Report preparation, accuracy and review.
• Responsible for CT Department of Banking Quarterly Reporting (on behalf of the CEO) for any Changes to Executive Officers or Directors, and for any Changes to Branches, by completing and submitting the regulatory form prior to deadline.
• Responsible for updating, processing, and submitting any changes in authorizations or forms regarding broker/dealers, FRB, FHLB, FDIC, etc., as requested by management and approved by the Board.
• Coordinates tax reporting requirements. Works with external accountants to prepare estimated quarterly state, federal income tax payments, and annual filing of income tax returns as well as annual property tax statements.
• Main liaison to ERM in establishing and maintaining an adequate internal control structure for financial reporting, in accordance with FDICIA requirements. Ensures the Bank is complying with designated laws and regulations. Works with auditors and colleagues to enhance or revise controls to appropriately mitigate risks.
• Coordinates the annual financial audit and serves as a liaison between the Bank and external auditors and regulatory authorities.
• Oversees documentation and information requests for internal and external audit functions and regulatory exams.
• Advises department managers regarding accounting entries, reports and comparative analyses. Ensures that all employees are well informed of accounting policies, procedures, and regulations.
• Responsible for effective internal controls for the accounting processes. Continually evaluates established policies and procedures, making recommendations for modification when appropriate.
• Keeps abreast of economic and monetary market conditions as well as all regulatory agencies' regulations concerning the Bank.
• Attends and participates in meetings and committees as appropriate.
• Performs other duties as assigned.

FUNCTIONS SUPERVISED: Finance and Accounting Operations.

POSITIONS SUPERVISED: Finance Manager and Accounting Manager

EXPERIENCE REQUIRED: A minimum of five to eight years of banking, or related experience, in the area of finance and/or accounting is required. Proficiency with Microsoft Word and Excel, along with a robust understanding of complex financial software, is required. Incumbent must possess a thorough knowledge of financial and accounting practices and procedures, along with an understanding of governmental regulations and reporting requirements. A working knowledge of related auditing and IT functions is required.

EDUCATION: A Bachelor’s degree in accounting, business or related field. Master’s degree, CPA or MBA preferred.

DIGITAL LITERACY:

The ability to use data, information, and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills

• Information, data, and content
• Teaching, learning, and self-development
• Communication, collaboration, and participation
• Digital identity, safety, and security
• Technical proficiency with all bank products
• Awareness and interest in new technology
• Creation, innovation, and research

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  Compensation: Compensation is based on our market pay structures. However, individual salaries are determined by a variety of factors including, but not limited to business considerations, local market conditions, and internal equity, as well as candidate qualifications, such as skills, education, and experience.

Ascend Bank is an equal opportunity employer and offers equal opportunity to all applicants for all positions without regard to race, color, religion, national origin, age, disability, and veteran status.

Applicants requiring reasonable accommodation in the application process should notify Human Resources.

Ascend Bank participates in E-Verify.

EOE/AA/M/F/D/V