VP of Accounting
Apply NowCompany: FAA Credit Union
Location: Chesapeake, VA 23321
Description:
True Sky Credit Union
Structured Compensation - Job Description
VP of Accounting
Data Year: 2025
Prepared On: 04/11/2025
Department:
Accounting
Grade:
17
Reports To:
Chief Revenue Officer
Classification:
Executive
Supervises Direct:
7
Supervises Indirect:
Approved By:
President
Effective Date:
04/03/2017
FLSA Basis:
Professional
Revised Date:
04/11/2025
Role:
Organize and direct all financial and regulatory reporting and ensure compliance with Generally Accepted Accounting Principles (GAAP). Responsible for control and maintenance of the general ledger account structure and preparation of the financial statements.
Essential Functions & Responsibilities:
E
35%
Organize and direct the accounting functions in order to ensure completion of all duties/responsibilities of the Accounting Department. Responsible for the control and maintenance of the general ledger account structure and preparation of the monthly financial statements.
E
20%
Oversee the activities of accounts payable, ensuring the accurate and timely processing of accounts payable.
E
10%
Prepare monthly financial reports for the Board of Directors packet and various other reports.
E
10%
Oversee preparation of schedules for annual CPA Audit and NCUA exams and work with auditors and examiners.
E
10%
Review all regulatory reporting including the quarterly NCUA 5300 CALL Report, weekly FR2900 report and Federal and State Backup Withholding reports. Compile and oversee month end/quarter end entries and calculations for compliance and accuracy.
E
5%
Trains, directs and evaluates employee performance for assigned staff within the department.
E
5%
Assure the accurate and timely completion of all income tax returns.
E
5%
Calculate the Allowance for Loan and Lease Losses on a monthly basis migrating from the current method to CECL.
Performance Measurements:
1.
To ensure that the department's functions and responsibilities are completed by deadlines and are compliant.
2.
To ensure that the credit union's records and general ledger accounts are always in balance and current.
3.
Keep management informed regarding key operation issues affecting the department.
4.
To provide assistance to the CFO in specific job related functions as defined as well as other assignments.
5.
Provide training, and evalutions of assigned staff within the department.
6.
To stay current and comply with all federal and state regulations including Bank Secrecy Act (BSA), Office of Foreign Assets and Control (OFAC) and all credit union policies and procedures.
Knowledge and Skills:
Experience
Ten years to fifteen years of similar or related experience.
Education
(1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree (e.g., information technology certifications in lieu of a degree).
Interpersonal Skills
Work involves extensive personal contact with others and is of a personal or sensitive nature. Motivating, influencing, and/or training others is key at this level. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
Other Skills
Knowledge of Generally Accepted Accounting Principles. Certified Public Accountant ("CPA") highly preferred. Strong analytical skills and experience analyzing financial data, ratios, trends and variances. Ability to handle multiple departmental problems, work and think independently, and prioritize various assignments and projects under time constraints.
Physical Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is occasionally required to stand; walk; sit; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, crouch, talk and hear. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
Work Environment
Work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is not exposed to weather conditions.
The noise level in the work environment is usually moderate.
This Job Description is not a complete statement of all duties and responsibilities comprising the position.
Structured Compensation - Job Description
VP of Accounting
Data Year: 2025
Prepared On: 04/11/2025
Department:
Accounting
Grade:
17
Reports To:
Chief Revenue Officer
Classification:
Executive
Supervises Direct:
7
Supervises Indirect:
Approved By:
President
Effective Date:
04/03/2017
FLSA Basis:
Professional
Revised Date:
04/11/2025
Role:
Organize and direct all financial and regulatory reporting and ensure compliance with Generally Accepted Accounting Principles (GAAP). Responsible for control and maintenance of the general ledger account structure and preparation of the financial statements.
Essential Functions & Responsibilities:
E
35%
Organize and direct the accounting functions in order to ensure completion of all duties/responsibilities of the Accounting Department. Responsible for the control and maintenance of the general ledger account structure and preparation of the monthly financial statements.
E
20%
Oversee the activities of accounts payable, ensuring the accurate and timely processing of accounts payable.
E
10%
Prepare monthly financial reports for the Board of Directors packet and various other reports.
E
10%
Oversee preparation of schedules for annual CPA Audit and NCUA exams and work with auditors and examiners.
E
10%
Review all regulatory reporting including the quarterly NCUA 5300 CALL Report, weekly FR2900 report and Federal and State Backup Withholding reports. Compile and oversee month end/quarter end entries and calculations for compliance and accuracy.
E
5%
Trains, directs and evaluates employee performance for assigned staff within the department.
E
5%
Assure the accurate and timely completion of all income tax returns.
E
5%
Calculate the Allowance for Loan and Lease Losses on a monthly basis migrating from the current method to CECL.
Performance Measurements:
1.
To ensure that the department's functions and responsibilities are completed by deadlines and are compliant.
2.
To ensure that the credit union's records and general ledger accounts are always in balance and current.
3.
Keep management informed regarding key operation issues affecting the department.
4.
To provide assistance to the CFO in specific job related functions as defined as well as other assignments.
5.
Provide training, and evalutions of assigned staff within the department.
6.
To stay current and comply with all federal and state regulations including Bank Secrecy Act (BSA), Office of Foreign Assets and Control (OFAC) and all credit union policies and procedures.
Knowledge and Skills:
Experience
Ten years to fifteen years of similar or related experience.
Education
(1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree (e.g., information technology certifications in lieu of a degree).
Interpersonal Skills
Work involves extensive personal contact with others and is of a personal or sensitive nature. Motivating, influencing, and/or training others is key at this level. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
Other Skills
Knowledge of Generally Accepted Accounting Principles. Certified Public Accountant ("CPA") highly preferred. Strong analytical skills and experience analyzing financial data, ratios, trends and variances. Ability to handle multiple departmental problems, work and think independently, and prioritize various assignments and projects under time constraints.
Physical Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is occasionally required to stand; walk; sit; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, crouch, talk and hear. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
Work Environment
Work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is not exposed to weather conditions.
The noise level in the work environment is usually moderate.
This Job Description is not a complete statement of all duties and responsibilities comprising the position.