Senior Vice President, Chief Accounting Officer

PenFed is hiring a (Hybrid) Senior Vice President, Chief Accounting Officer at our Tysons, Virginia location. The Chief Accounting Officer is the architect of a modern finance function, not only its steward. This leader will own the integrity of PenFed’s financial records while reshaping how accounting creates value: reliable and timely closes, automated controls, certified data, and insight that informs capital, pricing, and growth decisions.

As a member of the CFO's leadership team, the CAO will help translate the enterprise strategic plan into accounting operational and reporting readiness. That includes operational readiness for M&A and new business lines, a scalable operating model as the balance sheet grows, and a reporting framework that meets requirements of Management, the Board and NCUA.

We are looking for a CPA with deep financial-institution expertise who has led accounting operations, regulatory, GAAP and management reporting, and overseen accounting transformation at scale. The ideal candidate pairs technical command of GAAP with the instincts of a change leader who leads teams, retires legacy processes, and promotes and enables accounting as a strategic partner across the enterprise.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

Strategic leadership and enterprise partnership

• Serve as a strategic advisor to the CFO and executive team, shaping decisions on capital allocation, product economics, balance sheet strategy, and growth investments.
• Translate the three-year strategic plan into accounting, reporting, and control frameworks that scale with the organization.
• Lead accounting due diligence for business combinations and loan portfolio purchases, and integration for credit union mergers, acquisitions, and new business ventures.
• Partner with Treasury, FP&A, Risk, and Lending on member- and product-level profitability, funds transfer pricing, and performance measurement.
• Anticipate and monitor emerging accounting, regulatory, and industry developments and position PenFed ahead of them.

Finance transformation and modernization

• Define and execute a multi-year accounting strategic roadmap covering close, consolidation, reconciliation, reporting, transformation, and the alignment of accounting personnel.
• Drive automation and AI adoption across accounting operations, targeting close optimization and a sharp reduction in manual journal entries and reconciliation points.
• Co-lead the finance data strategy: a single, governed general ledger and subledger architecture, certified data products, and clear data ownership.
• Champion and lead the strategic ERP platform modernization in partnership with Technology, Human Resources, and Procurement.
• Align the accounting operating model, including shared services, centers of excellence, and talent mix, to support growth without proportional cost.

Controllership, reporting, and policy

• Own the general ledger governance including the financial statement close process, ensuring the accuracy and timeliness of all internal and external financial reporting.
• Deliver annual audited financial statements and oversee the quarterly NCUA 5300 Call Report preparation and submission.
• Establish and maintain accounting policy, including technical positions on transfers of financial assets, CECL, derivatives and hedge accounting, loan servicing, leases, and fair value.
• Produce Board and Audit Committee reporting that is clear, decision-useful, and forward-looking.

Internal controls, audit, and regulatory

• Maintain a robust internal control framework over financial reporting aligned to COSO, with an emphasis on automated and preventive controls.
• Serve as primary liaison to the external auditor and Supervisory Committee, and partner with Internal Audit on control effectiveness.
• Serve as a finance lead who engages with NCUA examinators and responds to regulatory findings with durable remediation.
• Support capital adequacy reporting that relies on the accuracy of net worth as a governing metric..

Talent and culture

• Lead, develop, and retain a high-performing team of 40 accounting professionals.
• Build modern skill sets in data, automation, AI and analytics alongside technical accounting depth.
• Create a culture of ownership, continuous improvement, and service to PenFed's members and mission.

*This role is responsible for ensuring business continuity.*

Equivalent combination of education and experience is considered.

• Bachelor’s Degree in Business, Accounting or a related field is required.
• Master’s Degree in Business Administration is preferred.
• CPA certification required.
• Minimum of fifteen (15) years’ of experience, ten (10) years in a senior management role with financial audit and/or  in-house financial management experience gained in a large organization environment- all of which provides a level of skill and knowledge necessary to satisfactorily perform the essential job functions detailed herein is required.
• Proven track record of success facilitating progressive organizational change and development within a growing organization.
• Experience using AI tools, preferred.

Supervisory Responsibility

This position will supervise employees.
 

Licenses and Certifications

CPA certification is required.
 

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on-call may be required.

Pay Transparency 
The anticipated starting salary range for this role is $237,800.00 - $438,800.00
This position is eligible for an organizational performance based annual bonus, subject to board discretion and approval. 
This position is eligible for an individual performance based annual bonus.

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