Assistant Controller (77852)

Title: Assistant Controller

FLSA Status: Exempt Employment Status: Full Time

Department: Finance Location: Marlborough/Hybrid Work Model Eligible

Reports To: VP Controller

Date Prepared: September 13, 2023 Human Resources Review: September 20, 2023

Review/Update: September 23, 2026

SUMMARY:

Under the general direction of the VP Controller, the Assistant Controller supports regulatory and internal financial reporting for the Bank, its holding companies, and subsidiaries. The role also assists with Accounting Department management by overseeing staff and daily operations, including general ledger transaction processing, securities accounting, monthly and quarterly close procedures, outgoing wire transfers, cash management, and reconciliations. In addition, the Assistant Controller contributes to departmental and Bank-wide projects while supporting the established sales and service culture and advancing the Bank’s goals.

After successful completion of training and proven abilities, this position is eligible for a hybrid work arrangement with availability expected during core business hours and agreed upon number of days per-month on site.

ESSENTIAL DUTIES and RESPONSIBILITIES:

The requirements listed are representative of the knowledge, skill, and/or ability required.

In the performance of respective tasks and duties, the employee is expected to successfully perform quality work within deadlines with or without supervision, interact professionally with other employees, customers and suppliers; work effectively as a team contributor on all assignments and work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.

• Assist in managing Accounting Department activities, including:
  • • Processing general ledger transactions and correcting posting errors.
    • Managing holding company and subsidiary accounting, including initiating transactions such as dividends and interest payments and preparing holding company financial statements.
    • Handling securities and fixed asset accounting.
    • Processing and approving accounts payable, including sales tax and use tax, and backup withholding reporting and payments.
    • Maintaining the general ledger, including opening and closing accounts and designing new financial reports.
• Cross-train to support and provide backup coverage for other department staff during absences.
• Collaborate with department staff to complete all daily, monthly, quarterly, and annual tasks accurately and on time.
• Prepare financial reports for external agencies, including the FHLB, FDIC Call Report, DIF, Commissioner of Banks, Federal Reserve, and Internal Revenue Service.
• Assist internal, external, and regulatory auditors by gathering requested materials for assigned engagements.
• Assist the Controller with federal and state tax accounting, including calculating tax provisions, estimated tax payments, and deferred tax assets or liabilities.
• Authorize incoming and outgoing domestic operational wires in WITS wire automation software.
• Backup for investment portfolio accounting function, including payments, purchases, sales, maturities, safekeeping, and system maintenance.
• Oversee outstanding reconciliation items in that they are resolved within a reasonable length of time.

General:

• Exercise discretion when handling sensitive and confidential information, and comply with all Bank policies and procedures.
• Lead and participate in departmental projects.
• Use tools and systems effectively to organize and complete work independently, anticipate and resolve obstacles, meet deadlines, and create action plans when progress falls behind, requiring minimal oversight and meeting expectations.
• Build and maintain relationships with departmental and organizational leaders while aligning operations with the Bank’s core values, vision, strategy, and goals.
• Maintain knowledge of and comply with Bank Secrecy Act regulations, applicable regulatory standards, Bank policies, compliance procedures, and internal and operational risk controls.
• Attend all required training sessions and complete all required online courses.
• Maintain regular and consistent attendance to support high-quality customer service, and occasionally participate in community events before or after business hours or on weekends.
• Perform other similar or related duties as assigned or required.

SUPERVISORY RESPONSIBILITIES:

In alignment with our Core Values and Lean Principles, and in coordination with, department management:

• Supervise assigned staff, balance competing priorities, direct work based on business needs and established goals, and identify and provide training.
• Foster an inclusive work environment that recognizes individual needs and skills, rewards performance, supports shared goals, encourages ideas, and embraces change.
• Review and approve biweekly timecards and team time-off requests while ensuring adequate departmental coverage.
• Complete performance checkpoints on time, recommend employment decisions, and coach, counsel, discipline, and develop staff as needed.

• Review departmental procedures and recommend changes to improve productivity and efficiency.

• Train and guide department staff on new and existing processes.
• Deliver strong results while managing multiple complex demands.
• Strengthen the corporate culture and support the development and implementation of the organization’s vision, policies, and guidelines.

• Proactively pursue coaching