Chief Financial Officer

Job Type

Full-time

Description

ABOUT US

Coastal Community Bank is a leader in banking and in Banking as a Service (BaaS) and Fintech strategies. The people at Coastal not only help people with their personal banking; they help businesses with banking technology integration that leads to business growth, flexible financing, and unimagined potential. We think and work like entrepreneurs, always moving and constantly improving. We are go-getters, work hard, and play hard. If you're someone who thrives on innovation, wants to help others succeed, knows how to think outside the box, and believes that we're all in this together -- you belong here.

Check out our video here !

What You'll Do

We are seeking a Chief Financial Officer (CFO) that will lead the charge in innovation, shaping the future of finance for both banking and BaaS at Coastal and for our Fintech Partners. Must be able to capitalize on diverse opportunities by adapting to and anticipating the needs of a worldwide market, readying Coastal to meet them head-on.

Requirements

HOW YOU'LL DO IT

• Plan, develop, organize, implement, direct, and evaluate the organization’s fiscal function and performance for both banking and Fintech/BaaS.
• Participate in and provide subject matter expertise in the development of the corporation’s plans and programs as a strategic partner.
• Evaluate and advise on the impact of long-range planning, the introduction of new programs/strategies, and regulatory action.
• Provide timely and accurate analysis of budgets, financial reports, and financial trends in order to assist the CEO/President, the Board, and other senior executives/stakeholders in effectively performing their responsibilities.
• Enhance and/or develop, implement, and monitor compliance with financial policies and procedures of the organization by way of technology systems that will improve the overall operation and effectiveness of the corporation.
• Develop and maintain a strong relationship with Coastal's Technology leadership to envision and implement improvements in the Finance processes.
• Establish credibility throughout the organization and with the Board as an effective executor of solutions to business challenges.
• Efficiently forecast capital and identify monetary resources for developing action plans.
• Lead continual improvement of the budgeting process through education of department managers on financial issues impacting department budgets.
• Develop and lead cost management strategies by implementing strategies to reduce costs and improve efficiency.
• Provide strategic financial input, leadership and recommendations on decision-making issues affecting the organization; i.e., evaluation of potential alliances acquisitions and/or mergers and investments.
• Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position.
• Develop a reliable cash flow projection process, liquidity planning, contingency funding plan, stress testing, and reporting a mechanism that includes a minimum cash threshold to meet operating needs and manage through idiosyncratic risk events.
• Be an advisor from a financial perspective on any contracts into which the corporation may enter.
• Evaluate the Finance division organizational structure and team plan for continual improvement of the efficiency and effectiveness of the group.
• Provide technical financial advice, knowledge, guidance and mentoring to others within the finance discipline.
• Manage and develop all finance employees with professional and personal growth, emphasizing on opportunities (where possible) of individuals.
• Pioneer finance on the frontline, deciphering emerging trends and harnessing them to drive strategic growth.
• Lead the integration of innovative technologies that will become the core of finance strategy.
• Maintain a focus on streamlining operations and mitigating risks.
• Ensure that all financial practices comply with statutory regulations and legislation.
• Oversee the financial, SEC, shareholder, and regulatory reporting functions including the design and review of various reports management, board, investors and regulators.
• Support management and board committees such as Asset Liability & Investment Committee, Compensation, Governance (primarily policies) Committee, or as assigned.
• Lead and develop the annual capital plan including stress testing and development of key metrics to establish capital operating levels and contingency plans if thresholds are breached.
• Maximize the efficient deployment of capital utilizing risk-adjusted capital deployment protocols.
• Enhance operational insights through effective unit-costing and risk-adjusted return analysis.
• Lead and/or support the development of the strategic plan.
• Lead and manage the asset liability management process through oversight of interest rates risk, balance sheet composition and management of the loan, investment, deposit, borrowing, funding and capital position.
• Act as Corporate Secretary including oversight of Board packages and other board related records and functions.
  
  

What You'll Bring

• Establish credibility with market participants by demonstrating command of Coastal's financial performance, position (including regulatory capital and liquidity), and forecast. Inherent in this is the capability to be concise, articulate, and knowledgeable regarding complex bank financial matters.
• Proven ability to adapt and anticipate change to maintain an agile and proactive environment turning disruptions into opportunities.
• Demonstrated success identifying, implementing and leveraging cutting-edge technologies to enhance the core financial strategy.
• Ability to drive change in programs, processes, technology, and talent to enable strategic improvements in the Finance functions.
• Strong interpersonal skills, and the ability to build effective relationships based on trust throughout the organization, with remote staff and with our partners.
• Ability to clearly and concisely convey information, ideas and instructions to diverse audiences in both written and verbal communication.
• Demonstrated success making well-informed decisions based on accurate and timely analyses, ensuring optimal outcomes.
• Ability to think innovatively and develop effective solutions to complex challenges.
• High level of integrity, reliability, dependability and a strong ethical foundation in all actions and decisions.
• Acts with a strong sense of urgency and results-driven orientation.
• Strong analytical and problem-solving skills, with the ability to interpret complex financial data.
• Travel up to 50% required.
  
  

Education/Experience

• Bachelor’s degree in Finance, Accounting, Business or other related field, MBA or other advanced degree preferred.
• CPA, CFA or other relevant professional certifications are a plus.
• Minimum of 15+ years of related experience, to include at least 3-5 years as a CFO or senior finance executive in a publicly traded Bank/Finance/Fintech/BaaS company with extensive experience in SEC reporting, investor relations, and SOX compliance.
• Experience in a project finance type of organization – for heavy Project finance, risks, planning, project investments, etc.
• Experience with shared services structuring and cost allocation across multiple entities.
• Understanding of creative business models, pricing models, and the ability to tie business strategy to financial models – e.g. banking sector or fintech.
• Knowledge of fintech, banking-as-a-service (BaaS), and embedded finance.
• Prior experience integrating financial strategies with scalable technology platforms and working with cross-functional teams in high-growth environments.
• Experience leading financial strategy in regulated financial environments, with a strong grasp of risk management, compliance, and regulatory capital planning. Previous experience working with regulators and managing financial risk in high-growth, technology-driven markets.
• Preferred expertise in structured finance, including receivable sales, securitization, or capital markets transactions. Understanding of risk management frameworks related to off-balance sheet financing and complex financial structuring.
• Advanced proficiency with Microsoft Office suite of products to include Outlook, Excel, Word.
  
  

How You’ll Thrive At Coastal

• Be the Best – Communicate effectively, pay close attention to detail, and prioritize your personal development.
• Be Relentless – Thrive in a goal-oriented environment exercising both patience and persistence. Advocate for our customers and team members and strive to promote the Coastal Difference.
• Be Un-Bankey – Be a forward thinker with a creative mindset. Build long-lasting relationships promoting the Coastal Difference, built on a foundation of integrity, honesty, and trust.
• Embrace Gray Thinking – Use sound judgment while decision-making and problem-solving. Think outside the box.
• Stay Flexible – Organize and strategize effectively while always being prepared to adapt on the fly. Seek efficiencies for Coastal to work smarter, not harder.
• Take Care of Each Other – Understand what it means to be a true team player and have your teammate's back. Practice self-awareness and build your emotional intelligence.
  
  

BEING YOU AT COASTAL

Coastal Community Bank is an equal opportunity employer. We are committed to providing a workplace free from discrimination and harassment. All employment decisions are based on merit, qualifications, and business needs. We do not discriminate on the basis of race, color, religion, sex, national origin, age, disability, veteran status, or any other protected status under applicable laws.

PHYSICAL DEMANDS

The physical demands described below are required to 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 must be able to:

• Sit for extended periods of time.
• Stand for extended periods of time.
• Perform repetitive finger, hand, and arm movement.
• Use electronic office equipment such as a computer keyboard, mouse, ten key, telephone, etc.
• View and read computer screens for extended periods.
• Occasionally stoop, kneel, crouch, or crawl.
• Occasionally lift or move up to 10 pounds.
  
  

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Salary Description

$337,000.00 - $500,000.00 annually