Vice President – Financial Planning and Analysis

2 weeks ago

Holyoke, Massachusetts, United States Experis Full time
Job Title: Vice President – Financial Planning and Analysis

Job Summary:

We are seeking a highly skilled Vice President – Financial Planning and Analysis to join our team at Experis. The successful candidate will be responsible for managing the Bank's Asset Liability Management (ALM) process, overseeing the quarterly ALM reporting to the Asset Liability Management Committee (ALCO) and the Board of Directors, and developing a bank-wide profitability system and deposit analytics system.

Key Responsibilities:

  • Oversee the quarterly ALM function at the Bank, including interest rate risk (IRR), non-maturity deposit (NMD) analysis, and liquidity stress testing.
  • Review, evaluate, and analyze ALM results and make recommendations for balance sheet and liquidity strategies, process and reporting efficiencies, and ALM software enhancements.
  • Responsible for ALM reporting packages and presentations to the management Asset Liability Committee and the Board of Directors.
  • Responsible for the periodic evaluation and update of all significant ALM model assumptions, including but not limited to asset prepayment speeds, loan betas, and decay rates.
  • Ensure that the Bank's ALM process and management (including IRR and liquidity management) adhere to regulatory policies, guidelines, best practices, and the Bank's internal Asset Liability/Liquidity Policy.
  • Responsible for managing the Bank's Asset Liability/Liquidity Policy and all required documentation of decisioning relative to policy.
  • Oversee the annual net interest margin budget process by working with the FP&A Officer and cost center managers to develop asset/liability balance and interest rate assumptions for the budget.
  • Assist in the oversight and preparation of the annual budget package and presentation for the Finance & Accounting Committee and the Board of Directors.
  • Oversee the month-end close process for the net interest margin, working with the FP&A Officer to research, resolve, and explain variances; monitor margin results to budget, forecasts, and strategic plan.
  • Assist in the oversight, development, monitoring, and reporting of the Bank's strategic plan, specifically net interest margin and liquidity components.
  • Responsible for the development of a rolling net interest margin financial forecast process to allow management better insight into anticipated financial results, utilizing actual financial performance and expected/anticipated asset/liability balances, interest rate scenarios, economic conditions, and other factors.
  • Responsible for the development of a profitability system/software/analysis, utilizing third-party software or other internally developed models. Working with the FP&A Officer, oversee business line, product, branch, and customer profitability, and the ongoing monitoring, calculation, and reporting of profitability.
  • Responsible for the development of a deposit analytics tool to better inform bank management of deposit behavior and allow the Bank to make better-informed pricing decisions. Working with the FP&A Officer, evaluate external deposit analytics software along with in-house capabilities to develop a deeper understanding of deposit account and deposit relationship behaviors, customer segmentation, cannibalization, and branch-level analytics.
  • Oversee month-end financial reporting close process for net interest margin and other areas at the direction of the EVP/CFO.
  • Oversee the Bank's capital planning process, including establishing basic business and economic assumptions and guidelines underlying the development of the capital plan.
  • Oversee net interest margin, ALM, Liquidity, and KPI reporting and make recommendations on best practices, automation, and reporting systems.
  • Respond to ad-hoc requests from the EVP/CFO and other members of management.
  • Completes all yearly compliance training and testing and complies with bank, federal, and state regulations. Complies with Bank Policies and Procedures. Adheres to departmental and bank-wide service standards.

Qualifications:

Generally requires a four-year degree in finance or accounting, Master's degree or other advanced professional certification preferred, with 6+ years of relevant experience managing ALM, liquidity, profitability, and budgeting at a financial institution.

Skills:

  • Thorough understanding of ALM and liquidity, including regulatory guidance.
  • Understanding of basic accounting principles and procedures, with ability to train others in related practices and procedures.
  • Excellent organizational skills and attention to detail.
  • Excellent written and verbal communication skills.
  • Ability to follow verbal and written instructions.

Computer Skills:

  • Proficient in Microsoft Word and Excel, Flexi GL, Empyrean ALM Software, Vena Financial Reporting Software, SSRS, and Power BI reporting software.
  • General knowledge of computer applications including Microsoft Access and PowerPoint.

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