Treasurer

Description

About Allegacy Federal Credit Union

For 58 years, Allegacy Federal Credit Union has been committed to accelerating the success of our members through superior value and inspiring service. Headquartered in Winston-Salem, Allegacy has grown into one of North Carolina’s largest credit unions—serving more than 179,000 members with $2.4 billion in assets and over $1.7 billion in assets under management through Allegacy Investment Group.

With 20 locations across the Triad and Charlotte regions, Allegacy offers a full suite of personal and business financial services to members, including the employees, retirees, and families of more than 5,000 companies across the state of North Carolina. Every interaction is an opportunity to deliver superior value and inspiring service - bringing our common purpose to life and helping our members, employees, and communities thrive!

Position Overview

The Treasurer is responsible for corporate liquidity, funding, and investments in accord with regulations and organizational strategy. Works in alliance with the Finance team in asset and liability management. Maintains stewardship for financial assets and debt including overall leadership of the cash management, debt management and investment management functions of the organization. Ensures the maintenance of corporate liquidity and financial stability. Develops and manages strategies, operations, policies, and budgets relating to treasury activities. Monitors borrowing, treasury operations, financial risk management, investing and credit union finance activities.

This position reports to the Chief Financial Officer. The Treasurer will work with the CFO and SVP-Finance to identify, measure and manage institutional financial risk, and to determine optimal capital structure and execute corporate finance strategies as directed. The position will provide leadership support and backup to other areas and perform other duties and special projects as needed.

Principal Responsibilities

• Ensure investment and borrowing strategies, policies and procedures meet corporate objectives. Propose investment/borrowing strategies to ALCO and implement, as approved.
• Actively recommend strategy and participate in ALCO and rate risk management.
• Manage Liquidity Risk.
• As appropriate, recommend and executes hedging strategies.
• Develop financial forecasts for cash and investments and monitor financial performance of the investment portfolio, monitoring cash cycles around financial commitments.
• Participate in directing Balance Sheet Structure and Strategy.
• Monitor and recommend appropriate securities and conduct Investment Portfolio Management.
• Participate proactively in organizational Interest Rate Risk (IRR) Management.
• Manage investment broker relationships.
• Manage Organizational Funding, Debt Structuring, & Borrowing Capacity.
• Coordinate Funding and related relationships with FHLB / FRB / Vizo Corporate Credit Union / Brokered CD providers / Credit Line providers.
• Monitor and recommend appropriate non-deposit borrowing / funding.
• Maintain current knowledge of economic, credit and interest rate trends to support informed investment portfolio purchases and ALCO decisions.
• Manage portfolio credit risk & securities purchase due diligence.
• Assist in measurement and coordination of optionality in asset and liability positions.
• Participate with Finance team in establishing and maintaining A/L modeling assumptions.
• Participate in coordination and communication with external auditors and NCUA examiners including Capital Markets Specialists.
• Recommend loan & share pricing strategies and tactics.
• Recommend loan & share product structuring for IRR mitigation and marketability.
• Maintain knowledge of changes in financial markets and credit union regulations.
• Determine trends and changes indicating opportunities, risks and threats and apply that understanding to drive strategic thought and execution.
• Monitor off balance sheet IRR including swaps and derivatives.
• Work closely with CFO and SVP-Finance to ensure institutional soundness, profitability, and growth.
• Evaluate and recommend IRR, liquidity, and investment and pricing policies and procedures.
• Actively participate in community and Credit Union sponsored events.
  
  

Requirements

Education and Experience

• Advanced degree in a quantitative subject such as Finance, Economics, or Statistics or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the job; Master’s degree preferred.
• Eight or more years combined experience dealing with complex ALM, IRR, fixed income portfolio management, liquidity management, and/or financial institution funding.
• Ten or more years financial institution experience.
• Strong computer proficiency with at least an intermediate knowledge of MS Word and Excel
• Experience with a leading ALM modeling system is a plus.
  
  

Knowledge, Skills, And Abilities

• Visionary leadership including a strategic and long-term view of the organization.
• Ability to understand changing market dynamics and proactively lead compelling analytics to identify and recommend actionable strategies to achieve company objectives.
• Excellent interpersonal and communication skills and the ability to work across the organization to drive business results.
• Comfortable with multi-million-dollar decisioning.
• Expert professional knowledge of financial markets, financial institutions, financial instruments, economic research, accounting principles, and financial theory and modeling.
• Expert knowledge of the theories, principles, and practices of finance and investment management and how they apply to the financial operations of credit unions.
• Understand the quantitative and mathematical elements of fixed income securities analysis including complex mortgage backed and municipal securities.
• Excellent understanding and working knowledge of GAAP and credit union/banking regulations including fixed income capital markets instruments and derivatives markets.
• Exhibit capacity for excellent credit judgement and evaluation.
• Mastery of financial institution balance sheets, income statements, their interaction and related performance metrics and KPI’s.
• Embody a risk management approach to the role.
• Strong communication skills including ability to effectively express complex ideas and highly technical financial information verbally and in writing in an understandable manner.
• Experience working with executive level management.
• Ability to build trust and credibility with others across the organization and with peers externally.
• Ability to collaborate with other functional areas and work well with teammates.
• Bias toward problem solving and finding solutions.
• Ability to multi-task and meet deadlines.
• Ability to coach and develop others.