POSITION SUMMARY

The Controller supervises the Accounting Department staff and is responsible for the day to day management of the Bank’s accounting processes. These processes include accounts payable, fixed assets, accruals, prepaid assets, general ledger, and general ledger analyses / certifications. The Controller also prepares a wide variety of financial reports for both internal and external use. The Controller plays a key role in the Bank’s internal control environment. This position reports to the Chief Financial Officer and supports the Chief Financial Officer in performing the Bank’s accounting, treasury, tax, capital markets, liquidity management, interest rate risk management, and financial reporting functions. The Controller interfaces regularly with employees throughout the Bank and many of the Bank’s vendors, particularly those associated with internal audit, attestation audit, financial systems, and tax compliance services. The Bank is currently not a reporting entity under the Exchange Act, but follows many of the practices of an SEC registrant.

Essential Duties & Responsibilities

• Manages and mentors the Bank’s Accounting Department.
• Responsible for the preparation of all financial reports, including balance sheets, income statements, cash flow statements, footnotes required under accounting principles generally accepted in the United States (“GAAP”), regulatory reports, earnings releases, Annual Reports and tax compliance reporting.
• Manages the Bank’s wire transfer process.
• Manages the daily reconciliation and review of the general ledger.
• Serves as a contact for the Bank’s independent accountants and tax compliance professionals.
• Manages the Bank’s processes for accounts payable, accruals, prepaid assets, and fixed assets.
• Works with the Bank’s correspondent banking relationships and supports the Bank’s compliance with Federal Reserve Regulation F.
• Works with Bank clients to source and administer reciprocal deposits (CDARS/ICS).
• Manages Bank collateral to maximize available borrowing capacity.
• Manages investment securities safekeeping.
• Manages pledged collateral for public and local agency deposits including weekly and quarterly reporting.
• Invests liquidity portfolio in short term investments such as Federal Reserve EBA, Federal funds and certificates of deposit. May participate in managing fixed income portfolio.
• Performs accounting for a variety of matters, including equity compensation, deferred compensation, earnings per share, off-balance sheet liabilities, and borrowings.
  
• Responsible for accounting for the Bank’s investment securities portfolio.
• Generates ongoing reporting and analysis for the Board of Directors, including cash flow projections and budget vs. actual variance analysis.
• Plays a primary role in the Bank’s internal control environment, including directing the Bank’s monthly reconciliation and certification program and participating in the Bank’s internal audit program.
• Updates the Bank’s general ledger reports and related general ledger database.
• Submits quarterly estimated tax payments and manages the Bank’s personal and real property taxes.
• Works with the Chief Financial Officer to optimize the Bank’s tax planning consistent with compliance with applicable laws and regulations.
• Assists the Chief Financial Officer with the implementation of new accounting and reporting requirements, particularly the new Current Expected Credit Loss (CECL) standard and lease accounting.
• Generates a variety of regulatory reports, including the quarterly Call Report, bi-weekly FR 2900 Reserve Requirements and the annual Summary of Deposits.
• Serves on the Bank’s management Enterprise Risk and Compliance Committee and participates in meetings of the Board ALCO Committee.
• Provides technical guidance on a wide range of operational accounting matters throughout the Bank.
• Furnishes accounting and financial information to members of executive management to facilitate their direction of areas under their responsibility.
• May represent the Bank at community events such as Rotary, Chamber of Commerce, and similar professional organizations.
• Directs the ongoing education and training program for employees supervised.
• Undertakes various ad hoc projects in support of the Bank’s growth and development.
• Performs various other responsibilities as assigned in support of the Bank’s attaining its tactical and strategic objectives.

It is the Controller’s responsibility to perform duties in accordance with Federal & State banking laws and regulations, as well as 1st Capital Bank’s internal policies and procedures including BSA/AML, and to comply fully with those laws, regulations, policies and procedures. Additionally, managers and supervisors are responsible for creating an environment in which they hold their employees accountable for the above.

Qualifications

• At least five years of prior banking experience in applicable areas such as accounting, financial reporting, budgeting/planning, treasury, and income tax preparation - prior experience as a financial institution Controller or Assistant Controller is a significant plus.
• Undergraduate degree required, with CPA license, post-graduate coursework, MBA, and/or professional banking school certification a plus.
• Demonstrated understanding of GAAP, income tax laws, and regulatory reporting is required.
• Strong leadership and mentoring skills with proven results in defining and achieving key initiatives.
• Must be at ease with advanced technology.
• Superior written and verbal communication skills.

Supervisory Responsibilities

This position may supervise one (1) or more individuals.

Physical Demands

Physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the 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 regularly required to talk or hear. Employee is occasionally required to walk; use hands to finger, handle, or feel objects, tools, or controls; and reach with hands and arms.
• Employee must occasionally lift and / or move up to 25 pounds. Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception, and the ability to adjust focus.
• This position requires travel to visit current and potential vendors and clients of the Bank; in addition to travel for professional and educational opportunities. Overnight travel is typically less than 10% of regularly scheduled workdays.

Work Environment

Work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.