Assistant Controller

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 and training opportunities that support individual and team growth and advancement within Main Street Bank.

• Oversee daily department operations, provide general guidance and supervision, and ensure all required tasks are completed accurately.

• Ensure department staff receive training and guidance on new and existing processes.

LEVEL OF RESPONSIBILITY:

• Interacts independently along all staffing levels with complex and proprietary information requiring the ability to maintain a high level of confidentiality. 
• Responsible for managing, mentoring, and coaching assigned staff.
• Work is non-routine and analytical, relying on prior directly related experience, specific Bank policies.

• Influence as subject matter expert within the organization

EQUIPMENT REQUIRED:

• Smart Phone - To enable the MFA (Multi Factor Authentication) facilitating access to MSB systems.

HYBRID ENVIRONMENT:

• Your remote work setup must include a dedicated, distraction-free workspace and reliable high-speed internet.
• Your internet connection must provide sufficient bandwidth for Teams meetings and other video calls.

SKILLS REQUIRED:

• Bachelor’s degree in accounting or finance required; a master’s degree or CPA designation is preferred.
• Six to eight years of accounting or financial management experience in banking, financial services, or public accounting is preferred.
• Strong knowledge of GAAP and experience with financial and regulatory reporting.
• Advanced Excel skills and strong proficiency with Microsoft 365 applications.

• Comfort using and learning software applications, including Call Report and database software, Oracle, and iDashboard.

• Leadership, supervisory, coaching, or employee development experience is preferred.
• Self-motivated, with a strong desire to learn and advance.
• Ability to organize and manage multiple tasks independently, meet deadlines despite frequent interruptions, and maintain attention to detail in a fast-paced environment.
• Solid knowledge of administrative practices and office procedures, with the ability to operate standard office equipment.

COMPETENCIES:

• Excellent written and verbal communication skills
  • • Clearly communicate goals and initiatives to staff and management.
• Strong attention to detail and ability to collaborate effectively.
• Effective leadership, team building, and coaching skills
• Committed to strengthening existing skills and independently expanding knowledge.
• Flexible and adaptable, with the ability to manage multiple tasks in a high-volume, fast-paced environment and approach change positively.
• Strong interpersonal skills, with the ability to build and maintain relationships with officers, employees, and external contacts while remaining aligned with the Bank’s core values, vision, strategy, and goals.
• Technology proficiency—use technology and systems to improve work processes and solve problems.

LANGUAGE/COGNITIVE SKILLS: 

Thework skills described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

The person in this position frequently communicates with customers (internal and external) about banking products, their bank accounts & transactions and therefore must be able to exchange accurate information in these cases. They will need to use judgment and discretion in decision making situations, interpret and follow all Bank policies and procedures, write/create reports and business correspondence, (Main Street Bank’s standard language is English). As well as the ability to:

• Speak and effectively present/communicate information and respond to questions from customers, groups of managers, vendors, and other employees.
• Define problems, collect data, establish facts, and draw valid conclusions.
• Read, analyze, and interpret a variety of documents such financial reports and Bank policies and procedures.

WORKING CONDITIONS AND PHYSICAL EFFORT: 

The physical and work environment demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

While performing the duties of this job, the employee is required to:

Physical Demands/Efforts

• Occasionally lift and/or move up to 30 pounds (i.e., files).
• Regularly required to remain in a stationary position, greater than 50% of the time.
• Occasionally required to stoop and bend.   

Mental & Visual Demands

• Consistently operate a computer for extended periods of time.
• Specific vision abilities may be required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus.
• Regular use of office productivity machinery (i.e., a calculator, copy machine, fax machine, computer printer).

Work Environment and Hazards

• Occasionally move throughout the inside the Bank to access resources and individuals.
• Regular local travel for bank purposes and/or on behalf of the Bank (i.e., board meetings, other department meetings).
• The employee must be able to work schedules that meet the needs of the bank, which may include early morning, evening and/or weekend hours.
• It is a general office environment where the noise level is moderate.

AMERICANS WITH DISABILITIES ACT

Main Street Bank complies with all aspects of the Americans with Disabilities Act (ADA) and state disability laws. This means that we will not discriminate against qualified individuals with a disability in any phase of the employment relationship including application for employment, hiring, promotions and/or advancement opportunities, termination, compensation, training and any other conditions or privileges of employment.

The completion of this Application for Employment does not assure a position with Main Street Bank and any offer of employment is conditioned on the satisfactory completion of a background and credit review as determined by the sole discretion of Main Street Bank. Neither this Application for Employment nor any document constitutes a contract of employment for a specific term and that any employment relationship that may be established will be 'at-will' and if hired, may be terminated at any time, for any reason, by the applicant or Main Street Bank.

Massachusetts Law - It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Massachusetts General Laws c. 151B prohibits employers from (1) terminating or refusing to hire individuals on the basis of genetic information; (2) requesting genetic information concerning employees, applicants, or their family members; (3) attempting to induce individuals to undergo genetic tests or otherwise disclose genetic information; (4) using genetic information in any way that affects the terms and conditions of an individual’s employment; or (5) seeking, receiving or maintaining genetic information for any non-medical purpose.

Main Street Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, pregnancy, genetic information, disability, status as a protected veteran, or any other protected category under applicable federal, state, and local laws.