VP, Controller

Description

Cornerstone Bank was formed in 2017, born of a long history of supporting the community, and providing a strong foundation to help people and businesses thrive. Serving Worcester County, Cornerstone Bank’s local presence and community-based banking model enables a unique ability to deliver outstanding service, with a personal touch. Cornerstone provides the highest level of service and expertise for individuals, businesses, and community organizations with branch locations throughout Central Massachusetts.  

Cornerstone Bank is committed to providing a collaborative workplace where innovation, teamwork, accountability, and excellence are recognized and where employees are encouraged to broaden their skills, seek opportunities for professional development, serve their community, and provide outstanding customer service with each encounter.

Being a part of the Cornerstone team has many great benefits and perks. This includes a competitive pay, a generous student-loan paydown program, comprehensive benefit package including, medical, dental, vision insurance and even pet insurance! We offer a 401(k) plan with an employer contribution and match, success-sharing bonuses, paid time off and more! 

If you are looking to join a team that is committed to your ongoing professional growth and development, we are looking forward to speaking to you!

Cornerstone Bank is looking for an innovative leader to enhance our Finance department in the role of VP, Controller. This is an exciting opportunity for someone who is passionate about leading a team of finance professionals and being a change agent for the bank. This position is responsible for planning, organizing, and directing the accounting and financial control activities of the bank and all subsidiaries. Provide for the establishment and maintenance of financial internal controls with the bank’s policies, strategic objectives, accounting rules, and government regulation.   

Responsibilities and Accountabilities

• Maintains a documented system of accounting polices and procedures; implements a system of controls over accounting transactions to minimize risk.
• Prepares and reviews monthly materials and reports for the Board of Directors. 
• Under the supervision of the CFO, prepares the Bank’s annual budget and other financial metrics, calculates and reports variances from budget. Also assists the CFO in the CECL methodology and analysis.
• Performs monthly yield analysis on Investments, Loans and Deposits.
• Under the supervision of the CFO, develops, recommends, implements, and maintains new accounting standards, policies, procedures, systems reports and control functions governing the Bank’s financial reporting of all types. Reviews all pending and applicable accounting pronouncements and regulatory requirements and makes recommendations to CFO for implementation as necessary.
• Responsible for the creation of the audited financial statements of the bank and consolidated company
• Supervises the timely and accurate financial reporting and submission of the monthly/quarterly/annual regulatory and industry reporting requirements including: FDIC Call Report, DIF Performance measurement, DIF Deposit Analysis and various financial reports with the Federal Reserve Board.
• Supports the CFO in Asset / Liability monitoring and analysis of results.
• Responsible for FDICA controls working closely with the Assistant Controller to ensure an appropriate control environment exists across the Bank.
• Supports the CFO in Finance department and bank-wide project management. 
• Supervises and is responsible for the integrity of general ledger records, reconciliation, and preparation of journal entries for the Bank and all subsidiaries. Supervises the closing of all financial statements.
• Works directly with the external accountants on all matters of review of the Bank’s financial statement preparation, controls review, reconciliation and support and supply of various records as requested. Works directly with internal auditors on all matters of review on accounting, accrual, general ledger access and posting, reconciliation, financial reporting, and supporting documentation. 
• Works directly with the external accountants on all tax matters.
• Supports the CFO in overseeing and liaison with federal examiners, and all auditors during and post examinations. 
• Works with Assistant Controller and team members to build training and educational opportunities, conducts performance plans and reviews, salary recommendations and recommends terminations when necessary.  
• Supports the CFO in creating reports to analyze profitability of various business lines. Makes recommendations for action as appropriate.
• Oversees balancing and setup procedures and ensures ti