Kaufman Search Group

Our client, Farmers and Merchants Trust Company, has retained us to identify a First Vice President, Controller to join their organization. Reporting to the Chief Financial Officer, the First Vice President, Controller will serve as the senior accounting leader responsible for accurate financial accounting and reporting across the Trust Company and its affiliated entities, while leading the accounting team, maintaining a strong control environment, and supporting the organization's continued growth.

About Farmers and Merchants Trust Company

Farmers and Merchants Trust Company (FMTC) is a high-touch corporate trust and investment management company that has operated in California since 1920. FMTC has offices from Santa Barbara to Newport Beach and prides its operations on maintaining its premium service levels to its clients. The Company is still run by the founding Walker family, which continue to prove their dedication to the conservative business practices that have stood the test of time.

Their website is https://www.fmtrust.com/

About the role

The First Vice President, Controller is responsible for accurate financial accounting and reporting in compliance with U.S. GAAP. This position has oversight of day-to-day accounting activities for Farmers and Merchants Trust Company and its affiliated entities — Queen City Investments, Inc., Messer Land and Development, QCI Real Estate Holdings, LLC, and QCI Capital Holdings, LLC — including, but not limited to, cash management, accounts receivable, accounts payable, payroll, expense accruals, general ledger maintenance, and financial reporting. The ideal candidate will have a strong background in accounting and an affinity for problem-solving, as well as be detail-oriented and well organized.

The position is required to be 5 days a week either in the Long Beach or Newport Beach office.

The following information will provide more insight. After reviewing the details below our hope is that you may know someone who would be interested in this highly visible role. Feel free to distribute this document to others.

If you have any questions or require further information, please contact Adam Kaufman at 818.216.7684 or adamkaufman@kaufmansearch.com.

Key Responsibilities:

Accounting and General Ledger (GL)

• Maintain the integrity of the general ledger and chart of accounts.
• Coordinate month-end and year-end GL close processes.
• Manage and oversee daily liquidity, including cash forecasting for all entities.
• Execute and oversee accounts receivable and accounts payable processes, including customer invoicing, collections, invoice processing, and vendor payments.
• Manage and oversee accounting for fixed assets, expense accruals, prepaids, lease accounting, and the investment portfolio.
• Develop strong partnerships and communication with other departments and senior management to ensure all company activities are treated in accordance with U.S. GAAP. This communication is especially critical during new system implementations, new product or service offerings, vendor changes, or changes in business processes.
• Identify and implement process improvement projects in accounting operations to support the Company’s growth.
• Ensure the accuracy and completeness of the monthly tax provision calculation.
• Manage relationships with vendors and banking partners.

Management Reporting

• Prepare and distribute various daily and monthly management reports.
• Prepare budget variance reports and provide analysis.
• Develop financial forecasting models.
• Prepare Board of Directors reports and various other committee reports.

Staff Management

• Supervise, assist, train, and mentor staff members to ensure all tasks and duties are completed accurately and timely.
• Provides leadership through direct supervision and broader organizational involvement. Oversees team performance, including work allocation, coaching, and professional development, and ensures alignment with Trust standards and regulatory requirements.
• Ensure accountability of the accounting team.
• Develop individuals’ skills and implement programs to support staff career advancement.

Compliance and Audits (including Financial and Regulatory Reporting)

• Implement a system of internal controls over financial reporting (ICOFR) to prevent fraud, maintain financial integrity, and ensure the accuracy and completeness of financial data in accordance with GAAP.
• Lead internal and external audits and be responsible for the timely and accurate completion of schedules and information requests in connection with financial, operational, and regulatory audits.
• Oversee the preparation of monthly and quarterly financial statements.
• Prepare audited annual financial statements, including consolidated balance sheets, income statements, statements of stockholders’ equity, cash flow statements, and related footnotes.
• Prepare quarterly regulatory reporting (i.e., Trust Call Report).
• Prepare consolidating financial statements, including standalone statements and intercompany eliminations.

Other

• Assist in the preparation of annual insurance policy renewal applications.
• Maintain annual state and federal compliance requirements, including the production of 1099s and various other tax forms.
• Perform other duties as assigned.

Compliance Responsibilities

Comply with all applicable state and federal laws, regulations, fiduciary standards, and internal policies governing trust and wealth management activities, including applicable Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), and Customer Identification Program (CIP) requirements, as relevant to trust accounts and client relationships, Financial Elder Abuse reporting laws, sexual harassment prevention policies, and information security and privacy requirements.

Required Knowledge

• Strong understanding of GAAP principles and financial reporting requirements
• Excellent analytical and problem-solving skills
• Excellent communication and interpersonal skills, with ability to interact effectively with all levels of the organization
• Commitment to continuous learning and professional development
• Proficiency in financial analysis and modeling, with advanced Excel skills

Knowledge, Skills and Abilities

• Previous experience using FIS Trust Desk or similar platform
• Previous experience using Sage 50 or related accounting software
• Experience in automation (paperless environment) and implementation of AI to enhance effectiveness
• Experience implementing software for accounts payable, fixed assets, prepaids and employee expense management

Education and Experience

• Bachelor’s degree in accounting, finance, or a related field
• CPA designation
• Top 10 national accounting firm experience
• Ten years of relevant experience

About Kaufman Search: For more than 30 years we have been specializing in the placement of Accounting, Finance, Tax and Human Resources professionals in Southern California. Our expertise, contacts, and reputation combine to help companies identify, attract, and acquire the most talented professionals. Thank you. For more details please visit https://kaufmansearch.com/ . Thank you.