About MCU:
At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.
Our Mission:
To help hard-working New Yorkers build better tomorrows
Our Vision:
Be New York's most loved financial institution by helping our members build their best financial futures
Overview: The Director of Finance plays an integral role in helping MCU achieve its organizational objectives and meet stringent regulatory requirements in the areas of interest rate risk and liquidity management. This position plays a leadership role ensuring a high performing team that is continually maximizing efficiency with a positive impact on the financial health of the credit union while providing excellent service to its stakeholders.
Responsibilities:
Specific duties include, but are not limited to, the following:
Strategy, Planning and Management:
- Serves as finance subject matter expert and cross-functionally supports projects and programs.
- Studies long-range economic trends and projects company prospects for future growth in overall income, liquidity, net worth and market share.
- Provides insight and recommendations to both short-term and long-term growth plans, and helps establish yearly financial objectives that align with the credit union’s goals.
- Supports new business initiatives and new product offerings by providing decision support analysis.
Treasury and Asset Liability Management
- Oversees the credit union’s ALM program ensuring a safe and sound framework that operates well within board approved risk levels and regulatory expectations. Ensure that the credit union’s balance sheet is positioned to address any potential market related interest rate and liquidity risks.
- Develop and implement strategies to optimize the credit union’s ALM framework, effectively managing interest rate risk, liquidity risk, and funding needs while driving opportunities for growth and revenue enhancement.
- Lead the development and execution of stress testing scenarios to assess the credit union’s resilience to adverse economic conditions and regulatory requirements.
- Oversee the credit union’s investment portfolio, implement strategies that optimize liquidity and returns under the guidance of ALCO.
- Oversee the credit union’s secondary marketing program, including loan participation purchases and sales. Oversee the portfolio of loan purchases monitoring for performance.
- Oversee pricing strategies for loan and deposit products. Analyze market trends, interest rates and competitor offerings to determine competitive and profitable pricing structures.
- Serve as the primary liaison for advisory firms engaged by MCU in support of ALM and Investment strategies.
- Serves as a key point of contact for external and internal auditors in matters pertaining to asset liability management.
Financial Analysis, Budgeting, Forecasting and Reporting
- Oversee the monthly, quarterly, and annual forecasting process to ensure both the timeliness and accuracy of reporting.
- Serve as the subject matter expert on all planning and budgeting software tools used by the department (ProfitStars, Deposits360, Liquidity360, Deposit Dynamics pricing model, nCino loan analytics)
- Must be adept at developing ad hoc complex models in Excel when third party models cannot be used.
- Review and ensure application of appropriate internal controls, compliance and financial procedures.
- Monitor key financial metrics and performance indicators, analyzing trends and identifying areas for improvement or risk mitigation.
- Collaborate with the Accounting team during the monthly close process by providing monthly margin analysis, rate volume analysis, ensuring reported results are fairly and accurately reported.
- Responsible for preparing monthly reporting and analysis for management and board reporting, as well as all ALCO reports.
Perform other related duties as requested and special projects as assigned
Requirements:
- Bachelor's degree in Finance, Accounting, or a related field; MBA or CPA preferred.
- 10+ years of progressive experience in finance, with a minimum of 5 years in a finance leadership position at a similarly sized bank or credit union.
- In-depth knowledge of asset liability management principles, planning systems, and stress testing methodologies.
- Strong understanding of bank accounting concepts and GAAP, with the ability to interpret and apply regulatory guidelines effectively.
- Excellent analytical skills and attention to detail, with the ability to analyze complex financial data and draw actionable insights.
- Proven leadership abilities, with experience managing teams and driving results in a collaborative environment.
- Exceptional communication and interpersonal skills, with the ability to articulate financial concepts to diverse audiences and influence decision-making processes.
- Strategic mindset and forward-thinking approach, with the ability to anticipate challenges and develop proactive solutions.
- Demonstrated success in planning, organizing, leading people and activities. Ability to motivate, direct and coach staff.
- Ability to perform in a high-volume environment and meet deadlines while maintaining exceptional attention to detail.
- Technologically proficient.
Leadership Competencies:.
- Proven ability to manage change
- Capacity to take calculated risks and innovate
- Experience in setting vision and strategy
- Lead by example and encourage team in developing adaptability
- Successful in communicating effectively
- Prioritizes developing others
- Thinking that values diversity and difference
- Proven ability to build and maintain relationships at all levels of the organization
- Skilled at managing effective teams and work groups that default to action, are accountable, and take ownership of work
Why you'll be a good fit:
Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following
Results - We are passionate about winning.
Agility - We proactively anticipate, respond and pivot to ensure MCU wins.
Integrity - We operate with the highest ethical standards and highest degree of honesty.
Belonging - We cultivate a culture of inclusion and teamwork.
Ownership - We take personal responsibility and hold ourselves accountable for the results.
Why You’ll Love Working Here:
The pay range for this position is between $158,000-278,010 annually. Actual base pay offered may vary depending on a number of factors such as job-related knowledge, skills, experience, and location. Employees in this position may also be eligible for a discretionary bonus, 401(k) with an 6% employer match per pay period. Benefits for this position include Medical, vision, dental, life, and disability insurance, flexible paid time off and 11 paid holidays annually.
Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.
We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.
