About the role
The Chief Financial Officer will direct the Bank's financial accounting, reporting and treasury functions, along with certain risk and investment activities. As a key member of the senior management team, the CFO provides analytic support and counsel to the principals of the Bank on capital planning and allocation, treasury, strategy and business direction.
Hingham has a disciplined credit and cost culture, and we are focused on finding ways to reduce costs while improving operations and strengthening risk management. You will contribute to our continuous improvement program and build a small staff of talented employees to support it. The Finance Group also helps other business units find efficiencies and develop operational leverage. This role reports to the President and COO and has an in-office requirement.
Responsibilities
- Manages the general ledger and oversees internal, regulatory and public financial reporting.
- Reports on the Bank's financial position and results to the Chairman/CEO, the President and COO, and the Board of Directors.
- Prepares financial projections and annual budgets, and maintains the Bank-wide budget program.
- Oversees the external audit and coordinates the FDICIA/SOX internal control process, including control design and external testing.
- Develops and implements asset/liability, liquidity, investment and accounting policies that comply with regulatory requirements and GAAP.
- Reviews the investment portfolio, recommends actions within investment guidelines, and executes approved investment transactions.
- Actively manages the mix and interest rate risk profile of wholesale funding (brokered deposits, internet deposits and FHLB advances) to optimize interest rate risk and reduce the cost of funds.
- Monitors cash flow and liquidity projections against actual results and recommends corrective action early.
- Oversees the interest rate risk (IRR/ALM) program, including the model vendor and external consultant relationships, and helps evaluate funding strategies for asset growth.
- Designs and executes the Allowance for Loan Loss (ALL/CECL) and credit stress testing programs.
- Coordinates the annual Joint Safety and Soundness Examination with the FDIC and the Massachusetts Division of Banks.
- Supervises the Bank's insurance program.
- Manages shareholder communications and public company reporting, including press releases, securities filings, and proxy materials for the Annual Meeting.
- Maintains corporate records and required corporate and regulatory reporting for the Bank and its subsidiaries.
- Researches and implements technology and process changes that systematize and automate work across the Finance Group and the Bank.
- Uses artificial intelligence, analytics, and data to help other areas of the Bank achieve their business objectives.
- Delegates responsibilities, trains staff, evaluates performance, and builds a department-wide equal opportunity employment environment.
- This role requires employees to be in office.
What does success look like at HIFS?
- Contribute to our culture and grow your career. We are looking for engaged high-agency individuals that can make a big impact.
- We have a flat organizational structure and operate with agility. All our team members are empowered to use their creativity and innovation to create and implement tangible improvements to the Bank.
- Bring a disciplined, analytical approach to credit, cost and risk, and a drive to systematize and automate how the Bank works. You will advise the Bank's principals directly and help shape its strategy. We are committed to providing exceptional training and development opportunities.
Qualifications
- High ethical standards
- Undergraduate degree in a related field
- CPA, MBA or CFA
- Substantial experience as a Chief Financial Officer at a publicly traded, mutual or private bank
- Extensive knowledge of funds management, lending, operations, bank investments, GAAP application and asset/liability management in banking
About Hingham Institution for Savings
Incorporated in 1834, Hingham Institution for Savings is one of America’s oldest banks. The Bank provides commercial mortgage and relationship banking services in Boston, Nantucket, Washington, D.C. and the San Francisco Bay Area. Publicly-traded but family-run since 1993, our objective has been to build one of America’s great banks, characterized by superior long-term financial results, a fortress balance sheet that provides unquestionable assurance to our depositors, and an enduring culture of growth and success. We have a small, entrepreneurial team - just under 100 people - and we hold ourselves to high standards.