Bishop announces appointment of new chief financial officer

Bishop Edward B. Scharfenberger has announced the appointment of Loida A. Sarabia as chief financial officer for the Roman Catholic Diocese of Albany, effective Jan. 31.

“Loida is a strategic thinker and planner,” Bishop Scharfenberger said. “She has the financial acumen and experience to lead our Finance Office which deals with extremely complex issues. Loida understands our mission and I am confident that she will be a responsible steward of our financial and budgeting processes.”

The appointment is part of Bishop Scharfenberger’s longstanding policy of shared leadership among the laity and clergy in the Diocese of Albany. Appointing members of the laity to high level administration positions allows clergy to focus more of their time on pastoral ministry.

“I am excited to be part of the Diocese of Albany because it's a fulfillment of my lifelong dream of working while serving the community,” Sarabia said. “I look forward to working with a team of hardworking and dedicated employees.”

Under the direction of the chief financial officer, the Finance Office provides direct accounting and financial services to diocesan administrative offices and programs, administers employee benefits, provides oversight of parish finances, and is responsible for the preparation and implementation of the annual budget.

A resident of Red Hook, Sarabia earned a B.S. in Accounting from Polytechnic University of the Philippines. She also earned her CPA in the Philippines. Sarabia comes to the Diocese after serving for the past 12 years as chief financial officer of the Children’s Home of Poughkeepsie where she worked extensively on budgeting, forecasting, strategic planning and financial preparation.