POSITION DESCRIPTION Job Description: Report to: FLSA Status: CEO Board of Directors Exempt Position Overview Loudoun Credit Union, a $40 million financial cooperative, headquartered in Leesburg, Virginia, is seeking a visionary, service-oriented Chief Executive Officer to lead our credit union into the future. The Board of Directors is seeking a highly motivated leader who has a passion for service, builds trust, cultivates and motivates staff, promotes the values of our brand and guides the credit union to strategic goals with the best interest of our members, employees and financial health of the credit union. LCU s future leader will be dedicated to helping members make good decisions about their money and actively promote and demonstrate: Pride in serving the community and helping others A strong purpose for giving and volunteerism that goes beyond the job The approachable spirit of making others feel welcome Warm and enthusiastic energy to put others at ease An appreciation and understanding of the history of Loudoun County and credit union philosophy A dedication to helping the people of Loudoun County achieve their financial goals The new CEO will be responsible for the overall management of the credit union and achievement of Board directed goals and initiatives. Specific Responsibilities Strategic Plan Drive the successful implementation of the goals set forth in the strategic plan Implement tactics that support the strategic goals of the credit union Loudoun Credit Union CEO Job Description 1
Recommend new solutions to support the short term and long term goals of the credit union Work with the Board of Directors, Volunteer Committees and Staff to develop and execute business plans as needed Regularly update the Board of Directors and Staff on the fulfillment of goals and deliverables Motivate and encourage staff to become involved in the implementation of goals and tactics Financial Management Provide sound recommendations to the Board of Directors to ensure the viability of Loudoun Credit Union by monitoring and analyzing trends and changes in the LCU, environment and credit union industry. Identify and analyze financial functions and operational information/issues and present solutions/alternatives to the Board as needed and requested. Provide information and guidance to the Board to set and reach strategic goals and to maintain a high level of service to the members. Act as LCU Investment Officer by recommending investment policies and appropriate investments; establish and maintain a sound investment portfolio. Develop, propose and present the annual budget to the Board; operate within the Board approved budget. Effectively administer an Asset Liability Management Program in accordance with LCU policies and NCUA regulations. Prepare financial and regulatory reports and assure that all financial accounts and the general ledger are reconciled in a timely and accurate manner. Address audit recommendations within established time frames, as directed by the Board; provide assistance to audit staff in courteous and helpful manner. Complete and file IRS, State, Town and County tax reporting forms within timeframes. Human Resources Provide direct supervision to LCU employees and work to maintain a highly motivated, well-trained staff, establish and maintain effective employee relations. Support and encourage on-going education and training as well as effective cross-training and succession planning in order to maintain exceptional service to members at all times Recruit and select quality applicants for staff vacancies, ensuring that the credit union is staffed with competent and qualified employees who promote the values and demonstrate the LCU brand. Operate in compliance with LCU Human Resources Policies and procedures and make recommendations to the Board for standards/policies for other areas of human resource management; e.g., wage and salary structure, benefits program, performance reviews, and training standards. Maintain position descriptions for LCU employees; develop performance standards for employees, which include incentives for exceptional performance. Conduct performance evaluations on employees at least annually and report/make recommendations to the Board regarding salary increases and advancement in the organization. Loudoun Credit Union CEO Job Description 2
Serve as Plan Administrator for the employees pension plan. Foster an environment for growth and high service expectations. Hold regular staff meetings to discuss areas needing improvement, changes in procedures, new developments or services, long-term and short-term goals consistent with the credit union s strategic plan and to present general information. Compliance Ensure that LCU complies with federal and state laws as well as regulations set forth by the Virginia Bureau of Financial Institutions, the National Credit Union Administration (NCUA) and other regulatory agencies. Marketing Serve as liaison and ambassador to sponsor groups and community at large to coordinate orientations; participate in community events to make positive contributions to the image and ultimate growth of LCU. Supervise, coordinate and work with third party vendors to develop and execute the marketing plan. Review, approve and help implement marketing tactics including regular product promotions, website updates, social media posts, lobby materials, handouts, quarterly newsletter, member emails and other communication and education pieces. Ensure compliance and regulatory requirements are met as well as adherence to brand standards. Provide updates to the Board on the overall performance of marketing initiatives Organizational Development & Administration Maintain relationships with LCU sponsoring organizations and regional and state credit union associations and other organizations related to LCU business as required to further the interests and overall strategic plans of the LCU. Analyze workflow of the credit union on a continuous basis and make changes as necessary to improve efficiency and reduce costs. Manage the day-to-day operation of LCU and establish office procedure to use the staff and facilities in the most efficient manner. Attend monthly and special Board of Directors meetings and report on the activities of the credit union. Prepare monthly reports and distribute seven days before meeting. Provide educational materials and arrange/plan educational presentations for the Board of Directors and committee members at least four times per year on topics that would be helpful in achieving LCU goals or adherence to regulatory requirements. Subscribe to periodicals related to credit union issues and current developments. Work with Supervisory Committee to assure that adequate internal controls are established and maintained. Work with third party auditors and regulators to provide needed documentation and support. Make updates as necessary per recommendations of auditors and regulators. Manage annual policy review and updates; prepare recommendations to the Board. Loudoun Credit Union CEO Job Description 3
Work with and supervise relationship with third party IT Consultant, Data Processor and other vendors to keep all computers, equipment and technology services up to date. Provide recommendations on equipment and service updates. Oversee safety and security of the credit unions dayto-day operations. Manage relationship with landlord for all payments, contracts, and adherence to building rules. Keep Board updated on changes and provide recommendations. Other Requirements Ensure that the proper equipment, supplies, and working space are available to carry out the operations of the credit union and ensure proper maintenance of the equipment. Serve as an appointed Loan Officer and the duties with which it entails. Serve as backup for the position of Operations Specialist and the duties with which it entails. Maintain dual controls and other requirements as set forth in LCU policies and regulatory requirements. Make recommendations on the LCU organizational structure to maximize efficiency and mitigate risk Update and maintain the LCU policies and procedures manual. Meet with members to discuss problems or concerns; assist members as needed. Possess a thorough knowledge and understanding of the services provided and the products offered by the credit union. Possess an understanding of credit union history, philosophy, organization, bylaws and operational procedures. Assist with administrative duties, and perform other duties as assigned. Job Specifications Education Any combination of education and experience equivalent to four year degree from an accredited college or university with a major in management, business, accounting or related field, with considerable experience working in financial institutions. Experience A minimum of five years experience in a position equivalent in responsibility with a satisfactory work record/performance assessment. A minimum of five years supervisory experience. Familiarity with all aspects of credit union operations with experience and exposure to the credit union industry. General qualities desired Professional, well-developed interpersonal skills essential for communicating information to the Board of Directors, within the organization and in the community and projecting a positive image as a representative of LCU in appearance and demeanor. Loudoun Credit Union CEO Job Description 4
Excellent written and verbal communication and people skills; friendly, courteous, the member is always right attitude. Knowledge of credit union principles, practices and philosophy. Ability to analyze financial data, draw conclusions and recommend solutions. Ability to research topics/issues, analyze alternatives and develop and implement plans. Knowledge of principles and practices of supervision, management; ability to supervise employees and manage an organization. Knowledge and principles and practices of marketing. Ability to assess automated systems and database needs of an organization and recommend solutions. Knowledge of PC word processing, spreadsheet and database software; design and develop report formats. Experience working with financial data systems and other 3 rd party financial software Ability to train, motivate and engage staff to achieve goals. Ability to organize and manage multiple tasks. Ability to obtain and maintain bonding. Disclaimer This position description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this position. Applicants can send résumé along with a cover letter to jobs@loudouncu.com Loudoun Credit Union CEO Job Description 5