Vice President - Treasurer

Description

About BankFund:

BankFund Credit Union is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station. This position is classified as a hybrid role which means that on-site work will be expected. After completion of training for the role, staff generally work on site 40% of the time (60% for leadership) but this is subject to change based on health and safety standards and operational need.

Role Responsibilities:

Summary:  

Responsible for the strategic and operational management of the credit union’s balance sheet, ensuring optimal liquidity, funding, investment, and interest rate risk strategies while maintaining compliance with regulatory requirements and internal policies. This role ensures safe, sound, and optimized balance sheet management through proactive oversight of cash flow forecasting, investment execution, and asset-liability modeling to support the credit union’s long-term financial stability. The Treasurer serves as the primary lead for the credit union’s ALM function, contributes to capital and earnings planning, and plays a key role in strategic financial decision making. 

Responsibilities: 

Liquidity & Funding Strategy

• Manage daily and long-term liquidity needs for Credit Union Operations, including borrowing lines, investments, and member deposits. Develop plans for excess liquidity while ensuring that member transactional needs are met at all times. 
• Forecast cash flow and funding needs under various market and economic scenarios. 
• Optimize cash utilization across accounts at the Federal Reserve and FHLB. 
• Lead deposit pricing strategy in collaboration with Retail and Marketing teams, using market benchmarks, member behavior, and balance sheet needs to set competitive and sustainable rates. 
• Manage wholesale funding sources (e.g., FHLB advances, brokered CDs, credit lines). 
• Develop and maintain contingency funding plans. 

Investment Portfolio Management & Oversight

• Proactively develop, recommend and implement investment, hedging (i.e., swaps, options, etc.), and purchased loan participations policies and strategies for the Credit Union while considering the earnings, interest rate risk, and liquidity needs of the organization.
• Recommend brokers for approval. Execute trades with approved investment brokers.

Asset-Liability Management (ALM)

• Lead the development, execution, and monitoring of BankFund’s strategic and tactical plans related to interest rate risk measurement and management, ensuring that BankFund’s interest rate risks are reported accurately and timely, and managed without undue risk to BankFund’s financial safety or the servicing of member needs.
• Oversee interest rate risk modeling, including assumptions, scenario testing, and reporting in accordance with regulatory expectations and internal policy. 
• Maintain oversight of ALM software models, ensuring data integrity, model governance, and appropriate documentation. 
• Interpret economic and market trends to advise executive leadership on their potential impact to the credit union’s balance sheet and risk positions. 

Capital Planning & Stress Testing

• Monitor and project capital needs, incorporating potential risk and opportunity events. 
• Ensure capital targets support net worth and other regulatory ratios under NCUA guidelines. Maintain governance over capital stress testing models and assumptions, including documentation, validation, and periodic updates. 
• Support the strategic net worth assessment process. 

Governance & Reporting

• Maintain and update Treasury-related policies annually (Investment; Liquidity Management & Contingency Funding Plan; Asset Liability Management, Interest Rate Risk, and Concentration Risk; Loan Participations; Derivatives). 
• Serve as the primary point of contact for preparation and review of routine and ad-hoc investment, interest rate risk, and liquidity risk-related performance reports for presentation to the CEO, CFO, ALCO, Finance Committee, and Board of Directors.
• Ensure compliance with Federal Credit Union regulations and laws as they relate to all areas of Treasury related processes.Serve as the primary liaison to the NCUA Capital Markets examination team, including fulfillment of document requests, response to inquiries as related to Liquidity and Sensitivity to Market Risk, including areas such as investments and loan participations.

Leadership & Collaboration

• Serve as a member of the BankFund senior management team, contributing to the development of overall policies, programs, objectives, and goals for the Credit Union with a focus on interest rate risk, liquidity, investment, and purchased loan participation strategies.
• Liaise with the Finance Committee of the Board of Directors, including the review and editing of meeting minutes, primary communications to the committee, meeting packet development and delivery, and maintaining an open dialog with all members. Participate in and/or leads Committee and Board of Director meeting presentations as necessary.
• Serve as the chairperson of the ALCO Committee and lead monthly meetings to review deposit and loan rates. Responsible for creating, updating, and presenting ALCO’s monthly deposits update, including proposed rates for all deposit products. Advise the committee’s efforts related to investment portfolio oversight and awareness, balance sheet risk issues and mitigation strategies, and investment positions. 
• Lead, develop, and mentor the Treasury team by fostering a culture of accountability and continuous learning, ensuring cross-training, role clarity, and succession planning to sustain operational excellence and support long-term organizational capacity. 
• Manage the Assistant Treasurer and their team of financial analysts which focus on interest rate risk, investment, and liquidity reporting and analyses, including related Board and committee reporting, software and data management, and regulatory compliance as related to the standard Treasury workload at a financial institution.
• Partner with the VP Strategic Finance on matters related to financial reporting, budgeting, and financial planning. 
• Collaborate with IT and Data teams to ensure data quality and system integrity in ALM and cash management systems. 

Other Responsibilities

• Successfully participate in annual Information security refresher training. Comply with the Information Security Policy, including the immediate reporting of unusual or suspicious activity to management and the Information Security Officer. Follow all procedures to protect company computers from viruses, and to maintain the security and confidentiality of Credit Union data. Participate in annual Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) training and demonstrate knowledge and understanding of the BSA and OFAC, including the immediate reporting of unusual or suspicious activity to the Risk Management Department.  Undertake additional training specific to daily responsibilities and as required to ensure continued compliance with all applicable regulations.
• Ensure the Credit Union’s safe harbor protections as allowed by the BSA.  Understand that if confronted with knowledge of existence of a Suspicious Activity Report (SAR), an obligation exists to preserve the confidentiality of that SAR, as well as any information that may reveal the existence of a SAR.  Maintain awareness of, and immediately report to the Compliance Officer, any unauthorized disclosure of a SAR, or unauthorized disclosure of information related to a SAR. Understand that failure to do so is a violation of federal law and may lead to both civil and criminal penalties for SAR disclosure violations.
• Maintain a professional, positive attitude at all times. Serve as a role model for employees and other managers.
• Undertake other work-related duties as assigned by the Chief Financial Officer.

For internal purposes, this position is graded as Exec-17. 

The anticipated annualized base salary range for this position is $189,000 to $252,000. Final base salary for this role will be based on the individual’s job-related experience, skillset, training, certifications and market demands. The benefits available for this full-time position include but are not limited to: medical, dental, and vision insurance, 401(k) plan, life insurance coverage, disability benefits, tuition assistance program and paid time off, including paid parental leave benefits. In addition to base compensation salary, this role position is eligible for an annual incentive plan.

Requirements

Minimum Qualifications: 

Education

• B.S. Degree in Finance, Economics, Accounting, or related field.  Master’s Degree in a related field is valued.
• Professional designation (e.g. CFA, FRM, PRM, CPA ) is valued.

Experience 

• Minimum ten years of progressive experience in similar or related positions at a financial institution, including direct investment management experience (credit union experience preferred).
• Strong understanding of fixed income securities, balance sheet structure, and regulatory frameworks (e.g., NCUA, FDIC). 
• Proficient in investment portfolio analytics, Bloomberg and/or other investment analysis tools and applications as well as Microsoft Office.
• Strong knowledge and proficiency of asset liability management concepts, including NEV, NII duration, what-if modeling, scenario planning, sensitivity testing, and related risk mitigation strategies.
• Demonstrated success in producing and presenting executive-level financial analyses and decision-making reports.
• Prior financial institution experience; banking or credit union preferred.
• Prior managerial experience is preferred.
• Strategic thinker with strong analytical, communication, and leadership skills

Salary : $189,000 - $252,000