Stabilization Central Credit Union (SCCU) is a proactive agency that has been supporting and strengthening BC credit unions facing regulatory difficulties since 1989. It works in partnership with credit unions providing proactive, customized solutions and valuable tools to strengthen their business practices with a focus on stability and sound financial and risk management. SCCU provides proven leadership and direction to member credit unions via its service offerings of Governance, Regulatory Compliance, Risk Management, and Strategic Planning, to ensure a healthy, self-sustaining credit union system.
The Vice President, Risk & Finance (VP) works closely with the CEO and the board of directors to define, deliver, and improve SCCU services that enhance member credit union sustainability, regulatory compliance in governance and risk management, as well as supporting overall growth. The VP develops relationships and builds trust across the industry, ultimately becoming a key partner of member credit union boards and senior leaders. Travelling throughout the province when required, the VP provides effective relationship management in addition to consistent and impactful program delivery.
The individual will analyze economic, business, and financial conditions and their impact on individual and industry-wide credit union operations. They will then identify opportunities to proactively enhance member credit union performance or to mitigate losses through SCCU’s comprehensive suite of services including the Master Bond Program. This support will encompass providing guidance and direction in the application of policies, standards, best practices, and business continuity plans for member organizations as well as SCCU itself.
The ideal candidate is a highly successful and confident professional who brings a strong understanding and application of risk mitigation and financial management for effective and efficient business operations. Possessing multiple years of broad financial senior leadership experience, plus a post-secondary degree in a business or risk management-related field, the successful candidate will demonstrate a proven ability to forge productive partnerships and to create and contribute to a positive and enthusiastic work environment. A detailed understanding of enterprise risk management and an ability to communicate effectively with a wide range of partner groups, including the regulator and the credit unions SCCU works with, will be key to this individual’s success.
If this is the next step in your professional career, please visit our website and submit your application to Shaun Carpenter and Matthew Bell at www.pfmsearch.com.
Become part of a dynamic and successful credit union located in the community of Summerland and nestled in the beautiful Okanagan Valley.
Under direction of the President & CEO, the Vice President of Finance and Risk manages and oversees financial forecasting activities, budgeting reporting and maintenance, fixed asset and depreciation schedules, tax reporting/filing, accounting, general ledger management, asset/liability management, liquidity, investment management/treasury functions, foreign exchange, financial statement preparation, regulatory filings, statistical reports, stress testing, enterprise risk management and provincial regulatory and legislative compliance activities for the credit union.
The VP of Finance and Risk actively participates in the development of corporate strategies and provides strategic leadership and advice on all financial, enterprise risk, and audit matters, directly supervises staff and provides system administration support for operations.
MAJOR RESPONSIBILITIES:
- Provide overall direction, control and planning for finance, accounting, tax, audit, budget, asset liability management and treasury/investment functions of the credit union.
- Maintains the Credit Union’s financial records; prepares financial and statistical reports for the Credit Union; prepares and files reports with regulatory bodies; prepares the Credit Union budget in accordance with guidelines from the President & CEO and Board of Directors.
- Regularly reviews the effectiveness of the accounting and cash management systems and recommends improvements to maintain integrity.
- Analyzes business, economic, financial conditions and their impact on credit union’s operations; makes recommendations to enhance performance or to mitigate losses including developing and running hypothetical stress tests.
- Leads the risk management function in the development, reporting and maintenance of corporate strategies and policies.
- Provides overall direction, control and planning for the enterprise risk management framework. Ensure practices align with policies and procedures and recommend changes to further improve efficiencies and risk. Follow up on any compliance deficiencies.
- Manages borrowings, credit limits and securitizations.
- Manages key relationships with BCFSA and ensures compliance to legislation, regulation and suitable guidelines based on the size and complexity of the credit union.
- Directly supervises staff by monitoring activities to ensure productivity, efficiency and ensure administrative tasks are completed on schedule. Responsibility includes; hiring, directing job assignments, monitoring performance, coaching, counselling, training, compliance with regulatory requirements and organizational mission, vision and values, policies and work rules. Review performance and provide recommendations for compensation, promotion and termination, as appropriate.
- Participates as an active member of the management team by:
- attending regular management meetings to exchange information on department activities, discuss short- and long-term goals, identify and resolve operational issues and problems using a collaborative approach;
- attending planning sessions and setting overall goals, objectives and strategies for future growth and development;
- acting as an advisor to management team in all issues relating to accounting and security,
- Leads the ALCO discussion at the management meeting
- Displays knowledge of services offered by the Credit Union; considers and evaluates new services in relation to their financial impact on the Credit Union. Considers, evaluates, recommends and implement improvements where applicable.
- As Security Officer, ensures the adherence of security procedures with respect to cash holdings by ensuring that cash handling procedures are in accordance with established risk management procedures. Ensures that cash counts are conducted and staff are audited with respect to following security procedures. Adheres to security procedures as they pertain to the position.
- Oversees the preparation of financial reporting of subsidiaries.
- Maintain fixed asset records and the accompanying depreciation schedules.
- Conducts financial reporting in compliance with International Financial Reporting Standards.
- Acts as a voting member of the Management Credit Committee.
- Represents the credit union at external functions.
The above reflects the general details to describe the principal functions of the job and shall not be construed as a detailed description of all the work requirements that may be inherent in this job.
QUALIFICATIONS:
EDUCATION and EXPERIENCE
- Bachelor’s Degree or Professional Accounting Designation
- Four to six years job related experience
OR EQUIVALENT EDUCATION and/or WORK EXPERIENCE
POSITION COMPETENCIES;
- Advanced understanding of International Reporting Standards, audit and financial reporting controls
- Advanced understanding of Enterprise Risk Management and risk management principles
- Advanced computer skills
- Strong governance skills and business acumen
- Strong leadership and communication skills and possesses a high “EQ”.
- Working knowledge of Security requirements and procedures
Interested applicants should submit their resume and cover letter to sdcu@sdcu.com.
