Supervisory Committee Member

The Supervisory Committee Member application process uses Financial Center’s employment application workflow which may use some ‘employment-based’ terms; however, you are applying for a volunteer position. Title: Supervisory Committee Member Term Limit: Three Years Report to: Members Supervise: Director of Internal Audit PURPOSE: This position exists to SC supports the Board of Directors (BOD) in the safeguarding of members’ assets.

The ideal candidate will possess a strong commitment to the cooperative principles, excellent leadership skills, and a deep understanding of the credit union industry including financial operations, risk management, and regulatory compliance. The position must deliver high quality service to both internal and external members by supporting and promoting our core values.

Individual Eligibility: Must be a member of Financial Center, in good standing, having a full paid-in share on deposit and having never caused a loss to Financial Center. Must be acceptable as a bonding risk by a bonding company licensed to do business in Indiana. Has not been removed as a director, officer, committee member or employee of a financial institution by a federal or state regulator or a court with jurisdiction.

Has not been convicted of a crime involving dishonesty or breach of trust Has not been convicted by a court with jurisdiction of a violation, or found in violation by a court with jurisdiction or the Indiana Department of Financial Institutions (IDFI) of any law of the state of Indiana enforced or administered by the IDFI.

Is not habitually negligent in paying personal financial obligations Must complete a background check upon approval for the nomination slate. Must possess skills outlined here and that fill skill gaps within current Board makeup. Must be available for evening meetings and occasional weekend hours. Primary Supervisory Committee Functions: Ensure internal controls are established and effectively maintained to achieve Financial Center’s financial reporting objectives.

These controls must be sufficient to satisfy the requirements of the SC audit, verification of members' accounts and its additional responsibilities; Ensure Financial Center’s accounting records and financial reports are promptly prepared and accurately reflect operations and results; Ensure relevant plans, policies, and control procedures established by the BOD are properly administered; Confirm policies and control procedures are sufficient to safeguard against error, conflict of interest, self-dealing and fraud; and Confirm Financial Center adheres to measurement and filing requirements for reports filed with the NCUA Board or other applicable state or federal regulatory agencies.

Supervisory Committee Commitments: The SC members will hold in confidence all Financial Center transactions with its members and all information respecting members’ personal affairs, except when permitted by state or federal law. No SC member may participate in any manner, directly or indirectly, in the deliberation upon or the determination of any question affecting the SC member’s pecuniary or personal interest or the pecuniary interest of any corporation, partnership or association in which the SC member is directly or indirectly interested.

New SC members will complete training within two (2) years of appointment to the SC. This training may include conferences, Credit Union Executives Society (CUES) modules, CUNA’s Volunteer Achievement Program (VAP) for Supervisory Committee members, or any other appropriate training as approved by the Supervisory Committee.

Annually, the SC members must read Financial Center’s Code of Conduct and Ethics (Code), acknowledge their understanding of the Code, and agree to abide by the Code. Supervisory Committee Specific Duties: The SC employs an internal audit (IA) staff to carry out its day-to-day responsibilities. The SC is directly responsible for the hiring, retention, replacement, compensation, and oversight of work of any registered public accounting firm, and performs due diligence in the hiring of a public accounting firm.

The SC makes, or causes to be made, an annual audit, and submits a report of that audit to the BOD, and a summary of the report to the members at the next Financial Center annual meeting. The SC makes or causes to be made such supplemental audits as it deems necessary or as may be ordered by the BOD and submits the reports of the supplementary audits to the BOD.

The SC may call by a majority vote a special meeting of members to consider any violations of the Federal Credit Union Act (FCUA) or Indiana Code, federal regulations, the Financial Center Charter, or the bylaws, or any Financial Center practice deemed by the SC to be unsafe or unauthorized. The SC causes the accounts of the members to be verified with the records of the treasurer not less frequently than once every two years in accordance with all applicable state and federal laws and regulations.

Desired Background: Management experience; Financial operations experience (i.e., Finance, Accounting, Audit, Budgeting, Lending, Investments, Regulatory Compliance); Information Technology experience; Other business experience as needed, such as Marketing or Human Resources; Effective written and oral communication ability; Education; Experience in serving volunteer organizations or other Boards; Financial expertise, including an understanding of generally accepted accounting principles and financial statements; Experience in preparation of financial statements and the application of accounting principles in connection with the accounting for estimates, accruals, and reserves; Experience with internal accounting controls; and an understanding of supervisory or audit committee functions.