Financial Controller

Diversified Members Credit Union; Detroit (MI); On-site; USD 110,000 - 165,000; Full time

Job summary

Diversified Members Credit Union in Detroit, MI seeks a seasoned Controller to lead the accounting team, oversee monthly reports, audits, budgets, and ensure accurate financial records across the organization. You will develop departmental objectives, mentor staff, enforce policies, and drive efficiency while maintaining compliance with GAAP and banking regulations.

This role requires at least ten years of related experience, a Bachelor's in Accounting or Finance, and strong expertise in

Qualifications

• 10+ years of related experience in accounting/finance.
• Knowledge of GAAP, state/federal regs, NACHA/banking regs.

Responsibilities

• Review cash reconciliations daily and balance sheet reconciliations monthly.
• Oversee production of quarterly/annual reports and support annual audit/exams.
• Develop and coach team; conduct monthly performance reviews and training.
• Direct development and monthly review of financials for management and Board.
• Maintain fixed asset records and depreciation schedules.

Skills

GAAP

Excel

PowerPoint

Verbal skills

Analytical skills

Confidentiality

Attention to detail

Overtime

Bondable

Education

Bachelor's degree in Accounting or Finance

Tools

Symitar

Job description

The Controller is responsible for successfully leading the accounting team and related functions. This position will prepare and analyze monthly presentations and reports, create and analyze audit and budget schedules, make recommendations, and assist with overseeing the day-to-day financial accounting activities. As the Accounting leader, the Controller will ensure team members have the knowledge and tools to support all departments of the Credit Union. The Controller will also set department objectives, deliver services, continuously look for efficiencies, and manage for results through their team members. This position is responsible for providing accurate financial records, reconcilements, assigned projects, audit responsibilities, and mentoring team members as needed.

PRIMARY RESPONSIBILITIES:

• Review and reconcile cash account reconciliations daily; balance sheet reconciliations monthly and research and correct as necessary.
• Prepare and/or oversee the production of various quarterly and annual reports (i.e., Unclaimed property report, Quarterly Call Report, ad hoc reports, and studies, etc.) and assist in preparations and response to questions tied to the annual audit and exam to support the efficient operations of the company.
• Responsible for the efficient, timely and correct processing of all EFT/ACH transactions and for full compliance with all Federal Reserve Bank and NACHA rules.
• Develop each team member to their highest potential by identifying areas for improvement and appropriately coaching, training or correcting the team members' performance. Meet with each team member monthly to review previous month's performance, set goals for upcoming month's performance, and develop plans to improve team members' performance. Train and supervise department staff to maximize productivity and efficiency. Perform hiring activities as necessary, assigning, directing, coordinating and reviewing work performed by team members.
• Direct the development and monthly review of financials to assure accurate and timely financial information is provided to management and the Board of Directors to effectively manage the operations and be accountable to its members and regulatory agencies.
• Responsible for maintaining fixed asset records and depreciation schedules for the credit union. Prepares special financial schedules and performs other related duties or projects as assigned.
• Supervises the accounts' payable function, ensuring payments to vendors and team member reimbursements are processed accurately, on a timely basis, and in compliance with Company policy and procedures. Reviews and oversees annual tangible tax and 1099 reporting process.
• Responsible for all accrual entries, valuations of servicing rights, and goodwill and the establishment of reserves as needed.
• Must comply with company policies and procedures, applicable laws, and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
• Develops and maintains professional knowledge of and ability to understand and implement banking regulations and GAAP in the Banking industry.

REQUIREMENTS:

• Minimum of ten years of related experience,
• Bachelor's degree in Accounting or Finance
• Credit Union experience; preferred
• Symitar experience; preferred
• Able to use PC and be proficient in Microsoft Office products: Excel, Word, PowerPoint
• Verbal communications skills and the ability to read and comprehend are essential.
• Knowledge of Generally Accepted Accounting Principles (GAAP), applicable State and Federal regulations, and the Federal Reserve Board and applicable association regulations (e.g., NACHA).
• Knowledge of laws and regulations covering the management and retention of various types of records.
• Strong analytical skills with exceptional attention to detail.
• Ability to maintain confidentiality.
• Ability to prioritize multiple conflicting tasks.
• Ability to be bonded.
• Must possess a positive work attitude
• Must be dependable and able to work overtime when necessary.
• Completion of all required compliance and information security training annually.