How will this role impact First Command?
The Chief Financial Officer (CFO) of First Command Bank (FCB) is a strategic and operational finance leader responsible for safeguarding the financial well-being of this $1 billion subsidiary of First Command Financial Services (FCFS). This role oversees financial performance, strategic planning, and regulatory compliance to support FCB’s short- and long-term objectives. The FCB CFO provides financial insights to senior management and the Board, ensuring capital adequacy, strong financial policies, and effective asset-liability management. This position requires deep financial acumen, regulatory expertise, and collaborative leadership to effectively manage FCB’s Treasury, Accounting, and Forecasting & Analysis functions. Acting as a strategic partner to leadership and the Board, the FCB CFO will drive profitability, stability, and growth, aligning FCB’s financial goals with the broader objectives of FCFS.
What will this person be doing?
- Oversee FCB’s financial health by analyzing earning asset and cost liability trends, performing market analysis, and proposing strategies to enhance profitability.
- Conduct in-depth profitability analysis on significant initiatives, focusing on maximizing non-interest income and minimizing non-interest expenses.
- Partner with FCB and FCFS leadership to develop short- and long-term operational strategies, aligning financial objectives with organizational goals.
- Ensure accurate and timely preparation of monthly, quarterly, and annual financial statements, regulatory filings (e.g., Call Report, FR G-4), and ad-hoc reports.
- Provide regular financial updates to senior management and the Board, evaluating data points to support informed decision-making.
- Maintain strong regulatory compliance, establish financial policies that align with regulatory requirements, and manage relationships with regulatory bodies.
- Maintain capital adequacy, ensuring FCB has sufficient resources to meet its growth and regulatory requirements.
- Manage and forecast FCB’s liquidity position, balancing adequate funding with an optimal earnings profile.
- Oversee FCB’s Interest Rate Risk (IRR) position, recommend pricing, product, and/or hedging strategies based on the current IRR position, and implement strategies to maintain alignment with management’s objectives.
- Lead the Treasury team in managing cash flow, funding sources, and IRR to ensure strong liquidity and profitability.
- In collaboration with FCB and FCFS leadership, identify investment opportunities to maximize risk-adjusted returns, considering liquidity risk and market conditions.
- Build and maintain relationships with the investment community, keeping informed of industry trends to optimize FCB’s investment strategies.
- Develop, implement, and maintain comprehensive financial controls and guidelines, ensuring robust internal control frameworks.
- Work with internal and external auditors to support audit requirements and continuous improvement initiatives in financial reporting and compliance.
- Ensure alignment of financial forecasts with business line assumptions and conduct peer analysis to stay current with industry trends.
- Conduct market and profitability analysis to support strategic decisions and identify opportunities for revenue growth.
- Oversee financial planning and forecasting processes, ensuring reasonable projections based on business line inputs.
- Establish and monitor financial policies within FCB’s Finance department, ensuring they meet policy requirements and regulatory obligations.
- Strong understanding of the financial needs and challenges of the military market to develop client-focused strategies that support financial readiness and security.
Who will this person lead?
- Manage and develop the FCB Treasury, Accounting, and Forecasting & Analysis teams, fostering a collaborative, high-performance culture.
- Act as a mentor to FCB Finance team members, promoting skill development, accountability, and leadership growth.
What skills & qualifications does this person need?
Education
- Bachelor’s degree in Finance, Accounting, or related field; advanced degree, CFA, and/or CPA preferred.
Work Experience
- 15+ years of progressive experience in Corporate Treasury, Accounting, or FP&A at a comparably sized bank
- 5+ years of managerial experience in Corporate Treasury, Accounting, or FP&A at a comparably sized bank
Required Knowledge, Skills, and Abilities
- Thorough understanding of bank financials, interest rate risk, investments, liquidity management, and banking processes
- Strong knowledge of GAAP, regulatory frameworks, and financial reporting standards.
- Working knowledge of finance law and regulatory standards, especially in banking.
- Experience working with banking regulators, ensuring compliance with all relevant standards.
- Demonstrates strategic thinking about business initiatives with an entrepreneurial approach.
- Encourages innovative and creative solutions to business problems, inspiring others to think progressively beyond traditional methods.
- Proven track record of successful financial project management.
- Ability to manage multiple assignments simultaneously with strong organizational skills.
- Outstanding leadership abilities, including coaching, setting objectives, and supporting professional development.
- Excellent communication skills, with the ability to present complex information clearly to Boards and senior executives.
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