April 11, 2023

Controller

FLSA STATUS:          EXEMPT 

REPORTS TO:           CHIEF FINANCIAL OFFICER

PRIMARY FUNCTION:

This position is responsible for timely and accurate financial reporting to management, regulatory bodies and the Credit Union’s Board of Directors in accordance with all applicable rules and regulations. This position serves as a key resource to the Senior Management team, Accounting Operations team, and other credit union staff.

Additionally, the Controller will work closely with the CFO on many topics, including but not limited to asset liability management, budgeting, software implementations, projects, collateral management and forecasting.

PRINCIPAL DUTIES/RESPONSIBILITIES:

• Prepare the monthly internal and external financial statements and ensure they are in accordance with Generally Accepted Accounting Principles (GAAP) and regulatory requirements.
• Establish and maintain systems and controls that verify the integrity of all systems, processes, and data to preserve the credit union’s assets and report accurate financial results.
• Complete all quarterly regulatory call reports.
• Coordinate and assist with the annual budgeting process.
• Balance the credit union’s secondary market loan portfolio including, but not limited to, timely monthly reporting and annual audit verifications of trustee accounts held at the credit union for the transfer of funds to the investor.
• Complete and report loan and share loss reserve calculations.
• Actively participate as a member of the Asset Liability Committee (ALCO).
• Assist the Chief Financial Officer (CFO) with:
  • Preparation of the board reports, Asset Liability (ALCO) reports, and ALM data files.
  • Preparation of aspects of the credit union’s external financial audits and the National Credit Union Association (NCUA) and Iowa Credit Union Division exams.
  • Review and approval of accounts payable invoices, including the review of invoices for applicable sales tax.
  • Monitoring cash balances and liquidity forecasts to provide both long-and short-term cash management.
• Monitor the correspondent bank account activity on a daily basis and report daily cash position. Perform and/or request wire transfers between correspondent bank accounts, as needed.
• Complete bi-weekly payroll-related postings to the general ledger and related reconciliations.
• Oversee the credit union’s fixed assets and prepaid assets records.
• File the monthly and quarterly borrowing base certificates with the Federal Home Loan Bank of Des Moines; ensuring data is accurate and appropriate for collateral submissions.
• Supervise financial activities of the credit union’s monthly accruals, obtain documentation for payments, and reconcile accrual accounts monthly. Identify and report any irregularities to the CFO.
• Record and monitor the investment transactions of the credit union, including purchases, sales, income, and market valuation transactions.
• Ensure assigned general ledger accounts are reconciled, with the appropriate documentation, and on a timely basis. Proper documentation is defined as something unrelated to the general ledger that proves the balance within the general ledger. The substantiation of balances is essential to the audit program and fair representation of the organization’s financial statements.
• Actively and thoughtfully communicate with their supervisor, planning their goals and development, taking accountability for their actions, and striving for excellence

GENERAL DUTIES/RESPONSIBILITIES:

• Promote products and services.
• Attend all meetings as required.
• Maintain clean and professional work area and appearance.
• Maintain positive public relations and promote credit union within the community.
• Complete educational programs as required.
• Perform the following commitments of service to each and every member at all times:
  • Make a good first impression, be dressed professionally and greet people with a smile and a firm handshake.
  • Keep a smile in my voice as well as on my face.
  • Answer the telephone by the third ring.
  • Call people by name and thank them.
  • Give people my full and undivided attention; focus on the person face to face and on the telephone.
  • Take responsibility for solving the individual's problem instead of referring it to someone else.
  • Deliver on commitments of action(s) to be taken, so excuses won't be necessary.
  • Follow through on necessary action(s) to be sure the problem is solved.
  • Know that what's important is not only who or what created the problem but how the problem can be corrected.
  • Protect confidential information.
  • Other duties as assigned.

  REQUIREMENTS OF THE POSITION:

  • Bachelor’s degree in accounting.
  • Certified Public Accounting (C.P.A) designation preferred.
  • Five to eight years similar or related experience in public accounting or financial services.
  • Detailed knowledge of Financial Accounting Standards Board (FASB) and Generally Accepted Accounting Principles (GAAP).
  • Excellent communication and organizational skills.
  • Pleasant outgoing personality.
  • Ability to perform under pressure.
  • Knowledge of all laws and regulations regarding this position.
  • Excellent analytical skills.
  • Ability to sell.
  • Team player.
  • Knowledge of credit union operations.
  • Computer knowledge.
  • Decision making skills.

  PHYSICAL REQUIREMENTS:

  Sedentary work. Exerting up to 10 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.

  PHYSICAL ACTIVITIES:

  The following physical activities will be required on a day-to-day basis: climbing, stooping, crouching, reaching, walking, pulling, fingering, feeling, hearing, balancing, kneeling, crawling, standing, pushing, lifting, grasping, talking, repetitive motions.

  To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed are representative, and reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions if they are otherwise qualified.

  VISUAL/PERCEPTION ACTIVITY:

  Administrative, Clerical, Data Entry operators, Inspection, (work at distances close to the eyes).

  WORKING CONDITIONS:

  None. The worker is not substantially exposed to adverse environmental conditions (such as in typical office or administrative work).

  HUMAN RELATION SKILLS NEEDED:

  The ability to communicate effectively with members, staff, and contacts outside of the credit union in a polite, courteous timely, accurate and efficient manner. Patience in dealing with a difficult member.

  INTERNAL TRAINING REQUIREMENTS:

  Please refer to the job description course list located on the AscentraCore Ascending to Excellence web page for the internal training requirements for this position.

  ANNUAL TRAINING REQUIREMENTS:

  Compliance and Regulatory (BSA, OFAC, etc.) Security Awareness Training

  Diversity, Ethics, Sexual Harassment, and Sensitivity