at First Federal Bank of Kansas City in Leawood, Kansas, United States
Job Description
First Federal Bank of Kansas City is one of the largest mutually owned banks in the Midwest and has been a strong banking and lending partner to families in Kansas and Missouri for decades. We are a community-oriented, culture-focused, progress-driven Family on a mission to help people, businesses and communities build a better financial future.
At First Federal, you’ll be supported by diverse, talented, energetic individuals moving toward a common vision of prosperity and a home for all. You’ll have boundless opportunities for growth – whether it’s personal or professional development to reach your career goals, company events to strengthen your connections, or volunteer work to champion our community partners.
Your success is our success. When our employees feel valued, our customers feel valued, and our community grows.
Hear what our team members have to say: https://www.youtube.com/watch?v=GNPKmutbydo
POSITION SUMMARY:
Serves as a strategic financial leader and key member of the Executive Leadership Team, responsible for financial planning, accounting operations, budgeting, investment management, regulatory compliance, and mergers and acquisitions analysis. Provides proactive strategic counsel to the CEO on both offensive growth opportunities and defensive risk management. Ensures the integrity and accuracy of all financial reporting while maintaining strong relationships with regulatory agencies and external stakeholders. Performs duties personally or through subordinate supervisors and employees.
WHAT YOU'LL DO:
Financial Leadership & Strategic Planning
- Serves as strategic partner to the CEO, providing proactive offensive and defensive financial strategies to support organizational objectives and mitigate risks.
- Leads the strategic budgeting process, including creation, monitoring, and quarterly updates, effectively communicates monthly financial results to management and the Board of Directors.
- Participates actively in strategic planning for the organization, ensuring financial strategies align with and support corporate objectives detailed in the business plan.
- Leads mergers and acquisitions evaluation process, including financial due diligence, valuation analysis, integration planning, and presenting recommendations to the Board of Directors.
- Analyzes the potential financial impact of proposed regulatory changes and evolving accounting standards, providing forward-looking guidance to senior leadership.
Accounting Operations & Financial Reporting
- Actively participates in the monthly closing of the books by the 5th business day, ensuring timely and accurate completion of all general ledger activities and account reconciliations.
- Prepares and presents monthly financial statements and board reports, highlighting significant financial changes, variances, key risk indicators and key performance indicators.
- Oversees the accounting function, reviewing all internal and regulatory financial reports to ensure accuracy, compliance with GAAP, regulatory requirements and timely filing.
- Prepares all required financial regulatory reports, including Call Reports, FR Y-9 reports, and state regulatory filings, with related operational analysis and variance explanations.
- Maintains current knowledge of all relevant accounting and regulatory reporting standards, including GAAP, regulatory accounting principles (RAP), and emerging standards.
- Manages the bank’s tax position, overseeing all tax calculations, planning, and compliance activities, including deferred tax assets and liabilities, ensuring accurate and timely preparation of all federal, state, and local income tax reports and coordinating with external tax advisors.
- Provides guidance in the development and implementation of new accounting systems, procedures, and internal controls and creates efficiencies in existing processes.
- Coordinates and prepares analyses for annual audits of the bank, holding company, and retirement plans, maintaining professional relationships with external auditors.
Regulatory & Compliance Management
- Serves as the primary point of contact for financial items for regulatory examinations, including FDIC bank examinations, Federal Reserve Bank holding company examinations, and Missouri Division of Finance examinations.
- Prepares examination materials, coordinates information requests, and represents the organization in discussions with regulatory agencies.
- Manages ongoing relationships with the Federal Home Loan Bank of Des Moines and the Federal Reserve Bank, ensuring optimal utilization of available programs and maintaining compliance with membership requirements.
- Ensures the bank and holding company’s compliance with all applicable banking laws and regulations, including the Bank Secrecy Act, USA PATRIOT Act, anti-money laundering statutes, and federal consumer protection legislation.
Investment & Asset/Liability Management
- Manages the investment securities portfolio, maintaining liquidity in accordance with regulatory requirements and the bank’s investment policy.
- Analyzes investment strategies and alternatives to maximize investment income while managing risk, presenting recommendations to the Board of Directors for approval.
- Monitors financial markets, economic trends, and forecasts to inform investment decisions and provide credit risk insights to the Loan Committee.
- Updates and maintains the interest rate risk policy and investment policy, ensuring organizational compliance and implementing strategies to reduce interest rate risk.
- Chairs the Asset Liability Committee (ALCO), leading discussions on balance sheet management, liquidity, and interest rate risk.
- Chairs the Rate Committee, setting and adjusting deposit and loan pricing strategies in response to market conditions and competitive positioning.
Additional Responsibilities
- Oversees the bank’s facilities and physical asset management, ensuring locations reflect the bank’s image and brand appropriately.
- Monitors general and administrative expenses, identifying opportunities to reduce costs through improved efficiency, competitive vendor pricing, and elimination of waste.
- Oversees the annual review of private mortgage insurance companies, title companies, and Bank Owned Life Insurance (BOLI) carriers. Maintains direct responsibility for the bank’s BOLI program.
- Coordinates data submission for quarterly mortgage servicing rights valuation and adjusts accounting records as appropriate.
- Monitors the liquidity position of the pension plan and makes recommendations for managing excess liquidity.
- Participates in research and analysis of new investment products and asset or liability products that meet organizational needs within established risk parameters.
- Responsible for promoting and delivering quality internal and external customer service.
- Oversees the wire transfer functions and reviews and approves customer wire transfer requests pursuant to the bank’s Wire Transfer Policy.
- Completes risk assessments and reporting in support of the bank’s Enterprise Risk Management program.
- Ensures departmental compliance with all applicable banking laws and regulations, including, but not limited to, the Bank Secrecy Act, USA PATRIOT Act, and related anti-money laundering statutes, and federal consumer protection legislation and regulations.
- Performs other duties as assigned by the Chief Executive Officer.
Supervisory Responsibilities
- Directly supervises the Controller and Assistant Controller.
- Is responsible for the overall direction, coordination, and evaluation of the accounting function.
- Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
