Vice President - Finance

Company: Levo Federal Credit Union
Location: Sioux Falls
Posted on: February 17, 2025

Job Description:

Levo is a growing credit union in the Midwest dedicated to improving the lives of our members and helping them reach their personal finance goals. We seek a Vice President of Finance to oversee and direct the activities of the Accounting & Payments team and, as a part of the Executive Team, collaborate in developing and implementing the strategic plan by providing timely and accurate financial and payment information to help drive effective decision-making. This role reports directly to the President/CEO.

Being a part of Levo means being a part of an organization where people matter - not just their money. What we do daily makes a difference in the lives of others and the community we love: offering financial tools and services that fit modern life, providing expert advice, and listening and helping members chart their next step.

The best thing an employer can do is give you the support you need to succeed. Working for Levo allows you to develop personally, professionally, and financially in an inviting, friendly, and fun environment. Excellent benefits include health, vision, dental, paid time off, paid holidays and great daytime hours, a pension plan, a 401(k) option, volunteer hours, and many more!

VP of Finance Essential Duties and Responsibilities include the following:

• Develop, implement, and communicate the strategic direction and goals for the Accounting and Payments departments, which support the credit union's overall strategic direction and goals while ensuring strict compliance with generally acceptable accounting principles and applicable regulatory directives.
• Create and direct the accurate and timely preparation and submission of various financial statements, financial analyses, forecasting, board reports, liquidity reports, regulatory reports, and various other financial reports.
• Direct accounting and bookkeeping functions of the credit union, including AP, AR, GL setup, reconciliations, subsidiary ledgers, fixed asset maintenance, and all other related functions.
• Execute and oversee the asset/liability management process, including interest rate risk, liquidity risk, and equity measurement. Monitor, test, and report the ALM position and lead the Asset Liability Committee presentations and meetings.
• Develop and execute an investment strategy that aligns with the overall balance sheet and liquidity strategies, including analyzing potential investments, monitoring the current portfolio, and overseeing bond accounting and investment reporting.
• Create and coordinate the budget process, ongoing reporting, and variance tracking for the credit union's overall annual budget.
• Responsible for the credit union's allowance for loan loss measurement process and resources, ensuring credit loss reserves are appropriately established under GAAP and other regulatory guidance.
• Provide strategic recommendations regarding all payment systems the credit union utilizes and coordinate efforts to identify requirements, thoroughly test, and implement changes.
• Develop, implement, and evaluate policies and procedures for the Accounting & Payments Department. Ensure that policies and procedures reflect current regulations and that the accounting procedures are in strict compliance with generally accepted accounting principles (GAAP).
• Monitor cost control activities. Approve and implement cost control strategies on an as-needed basis.
• Participate in determining and recommending deposit and loan rates. We are an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against based on disability.
  
  Requirements
  
  VP of Finance Specific Competencies : The ideal individual will be a strategic thinker with excellent business acumen and ethics. Must demonstrate ability to support change management, lead direct and indirect teams, and possess workforce management skills. Committed to supporting our community and developing relationships. Possess expert-level analytical and presentation skills.
  
  VP of Finance Supervisory Responsibilities : Directly supervises the AVP Accounting & Payments and indirectly supervises the Accounting and Payments teams. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
  
  VP of Finance Education and Experience : Master's degree in Finance, Accounting, or an equivalent and a minimum of 8 years of related experience and training; or equivalent combination of education and experience.
  
  VP of Finance Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
  
  VP of Finance Communication and Language Skills: Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
  
  VP of Finance Mathematical Skills: Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages.
  
  VP of Finance Reasoning Ability: Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
  
  VP of Finance Computer Skills: To perform this job successfully, an individual should have knowledge of Advanced accounting systems; Spreadsheet software and Word Processing software.
  
  Other Qualifications Must be willing to travel as necessary for ongoing training.
  
  Physical Demands and Work Environment The physical demands and work environment 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 regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms and talk or hear. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision and ability to adjust focus. The noise level in the work environment is usually quiet.
  
  Salary Description
  $113,000 to $188,000 yearly, depends on experience Associated topics: associate director, chief financial officer, chief investment officer, controller, director, financial director, general manager, general operational manager, organizational culture, staff

Keywords: Levo Federal Credit Union, Sioux Falls , Vice President - Finance, Accounting, Auditing , Sioux Falls, South Dakota