Performs financial analysis, reporting, budgeting, profitability modeling, asset/liability management, securities analysis, rate research, and regulatory reporting for a credit union. Reconciles financial data, supports ALCO reporting, assists with accounting and examinations, maintains dashboards and models, and provides analysis to departments and committees. The role also supports compliance with financial policies and the Bank Secrecy Act.
Job Description
Financial Analyst
Job Classification: Full Time
FLSA Status: Exempt
Department: Finance & Accounting
Reports To: VP Controller
Job Overview
The Financial Analyst is responsible for performing the detailed analysis and research necessary to understand the financial fundamentals of the Credit Union and plan. The Financial Analyst works to understand the relationships and trends evident in the account and transaction data at BHCCU. Similarly, the Analyst will manage the routine production of Asset/Liability Management data sets and reports that evaluate and describe interest rate risk. This individual will develop, maintain, and report on data included in profitability, investment, and budgeting models, and assist the department in all other matters as described below.
Major Tasks, Responsibilities and Key Accountabilities
- Data Analytics
- Help to manage and maintain financial reports and lead new dashboards.
- Asset/Liability Management
- Reconcile data to financial statements and Call Reports. Perform analysis designed to reveal levels of interest rate risk. Complete investment simulations as needed. .
- Develop, maintain and organize reports for the Asset Liability Committee (ALCO).
- Prepare the ALCO reporting package with assistance as needed.
- Ensure compliance with applicable policies. Specifically, ALM, Concentration Risk, and Liquidity and Contingency Funding Policies.
- Profitability
- Develop and maintain product, branch, cost center, and department profitability models and reports.
- Accounting
- Assist with accounting functions as needed to facilitate the smooth operation of the accounting and finance team. This may include CECL, GL setup, money movement, reporting, reconciliations, processing, and/or exam deliverables.
- Budgeting
- Assist as needed in the annual development of corporate and departmental budgets including income, expenses, and balance sheet growth.
- Call Report
- Assist as needed in the filing of the quarterly Call Report, including researching the appropriate values to report, confirming, reconciling, and entering the data, correcting errors, and filing with the state and NCUA.
- Federal and State Exams
- Assist in the research and preparation for State and Federal regulatory exams.
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- Securities Analysis
- Perform analysis on current securities portfolio holdings and potential securities acquisitions.
- Rate Setting
- Assist in the research necessary to determine appropriate interest rates and fees for all deposits, loans, and transaction accounts.
- Research competitors in relevant markets to compare rates and fees.
- Other
- Provide financial analysis to other departments and committees as directed and assist other team members with finance questions.
- Pursuing the Chartered Financial Analyst designation, and attend conferences, workshops, and other training courses to increase technical and professional knowledge.
- Take lead or participate in special projects directly related to the finance department and those of other departments.
- May be required to work in other departments within the Credit Union in positions for which the employee has previous experience or sufficient training, to maintain high levels of service to members.
- Perform other work responsibilities as assigned by supervisor to facilitate smooth operation of the finance and accounting functions.
- Follow Processes and procedures established to ensure compliance with the Bank Secrecy Act (BSA). Complete required annual BSA training to ensure you understand your responsibilities that apply to BSA, including:
- Understanding of BHCCU’s policies and procedures, as well as all rules and regulations which pertain to BSA.
- The above responsibilities are intended to describe the general nature and level of work being performed by the person in this position. They are not intended to be an exhaustive list of all responsibilities, duties, skills, or working conditions. The VP Controller may assign other responsibilities as circumstances change.
QUALIFICATIONS and COMPETENCIES:
EDUCATION and EXPERIENCE:
- Bachelor’s degree in a related field or equivalent combination of education and experience.
- Some experience in accounting, data analysis or finance preferred.
COMPETENCIES:
- Strong interpersonal skills, maturity and good judgment.
- Must possess well-developed skills in verbal and written communication.
- Role model of positive personal projection as demonstrated by professional appearance and attitude.
- Comfortable working in a complex, highly competitive and rapidly changing environment.
- Ability to analyze and resolve situations independently.
- Ability to manage multiple priorities, effectively delegate and set deadlines.
- Ability to move new business practices from concept to reality.
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OTHER (PHYSICAL, MENTAL AND VISUAL SKILLS):
- Frequent periods are spent standing or sitting in the same location with some opportunity to move about; occasionally there may be a need to stoop or lift light objects (typically less than 8 pounds).
- Ability to sit and/or stand for extended periods of time. Intermittent physical activity including bending, reaching and prolonged periods of sitting.
- Ability to move about and communicate with a diverse membership and employee group.
- Ability to accomplish the described responsibilities through the use of computers and technology.
- Ability to work in a changing, challenging and fast paced environment with varying stress levels.
- Must be able to lift 20lbs. occasionally.
- Occasional travel required
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