Senior Financial Analyst

2 weeks ago


Cambridge, Massachusetts, United States East Cambridge Savings Bank Full time
Job Overview

The Accounting Division at East Cambridge Savings Bank is seeking a Senior Financial Analyst to join our team.

Role Summary:

Under the supervision of the Assistant Controller, this position is responsible for a range of financial data management tasks, including the maintenance and enhancement of corporate financial models and strategic plans. The role encompasses various responsibilities related to the Bank's financial reporting processes, ensuring compliance with established policies and strategic objectives.

Ideal Candidates Will Have:

  • A Bachelor's degree in finance, accounting, or business, or equivalent specialized training.
  • A minimum of five years of experience in finance or accounting, preferably within the banking sector.
  • At least two years of experience in financial reporting and analysis, with a solid understanding of generally accepted accounting principles (GAAP) in a banking context.
  • Familiarity with interest rate risk management and investment securities is preferred.
  • Proficiency in Microsoft Excel and Word.
  • Strong analytical, problem-solving, and organizational abilities.
  • Exceptional attention to detail and the capacity to manage extensive data with high accuracy.
  • Effective written and verbal communication skills, capable of engaging with all levels of staff.
  • Demonstrated ability to work autonomously and meet deadlines.

Key Responsibilities:

  • Support the collection and analysis of data to produce forecasts for balance sheets and net interest income, contributing to profitability goals. Collaborate with external vendors for asset/liability modeling and various analyses.
  • Prepare necessary reports for external auditors and regulatory agencies, ensuring timely and accurate submissions. Conduct accounting and regulatory research as required.
  • Assist in the month-end, quarter-end, and year-end closing processes for designated areas. Participate in the budgeting process as needed, and prepare variance analyses.
  • Contribute to the development of the Bank's operating and capital budgets, analyzing monthly performance and reporting findings to the Assistant Controller.
  • Assist in the preparation of quarterly Liquidity Stress Testing and coordinate credit stress testing analysis with lending staff as necessary.
  • Evaluate current and historical financial data for the Bank, comparing performance against peers and reporting insights to management. Analyze pricing and yield components of loans, investments, deposits, and borrowings, and present monthly investment securities portfolio analyses to management.
  • Conduct profitability analyses for existing and proposed products and services, and review new brokers providing investment services to the Bank.
  • Calculate the monthly provision for credit losses and related Allowance for Credit Losses on Loans (CECL), collaborating with lending staff for accurate data. Prepare comprehensive quarterly reports detailing the provision's rationale and environmental impacts.
  • Establish and maintain effective controls, systems, and procedures relevant to the position.
  • Research and analyze Bank activities, report on financial conditions, and recommend actions as necessary.
  • Stay informed on accounting, regulatory, tax, audit, and industry developments, assessing their impact on financial management operations.
  • Assist in generating reports for the analysis and evaluation of potential acquisitions for East Cambridge Savings Bank.
  • Produce various financial and regulatory reports related to the Bank's investment portfolio and overall financial performance on a regular basis.


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