Job Description

Assistant Director of Finance

Summary: As member of the Finance team, develops, interprets, and implements financial and accounting concepts into the Asset Liability Management (ALM), budgeting and investment management by performing the following duties.

Essential Duties and Responsibilities include the following. Other duties may be assigned.

  • Asset and Liability Management

    • Responsible for forecasting interest rate spreads on Balance Sheet.

    • Oversees interest rate risk testing process including: interpreting results, making recommendations for risk control to VP ALM & Investments, ensuring integrity of data/assumptions, and managing related partner relationships. Responds to regulatory and audit recommendations by modifying policy and process in partnership with VP ALM & Investments.

    • Develops internal interest rate risk testing process, compares results to 3rd party testing, and reconciles differences.

    • Analyzes and identifies interest rate related balance sheet risk components and net interest income drivers.

    • Responsible for all input, balancing, and preparation of ALM model financial forecasts and reports.

    • Responsible for ALM Model forecast accuracy, testing against actual results, and reconciling differences.

    • Prepares Management and Board ALCO report packages in conjunction with VP ALM & Investments.

    • Makes pricing recommendations as active member of Pricing Committee.

  • Investments

    • Analyzes investment cash flow position and makes recommendations for adjustment/modification to VP ALM & Investments.

    • In partnership with VP ALM & Investments, obtains investment offers from brokers and evaluates offers to structure investment portfolio.

    • Analyzes potential bond swaps to reduce risk and to maintain or enhance return.

  • Financial Analysis and Reporting

    • Responsible for integrity of net interest income budget and forecasting. In that capacity, prepares and analyzes budget and quarterly financial forecasts for variances and risks related to prepayments, cash flow changes, margin compression, and other influences.

    • Assists with and may coordinate annual activity based costing study.

    • Prepares studies, reports, and analyses in areas such as budgets, forecasts, financial plans, products, channels, governmental requirements, statistical reports, cash flow projections, and business forecasts in support of both short and long term financial projections.

    • Coordinates and implements financial model tools related to data warehouse requirements.

    • Analyzes financial information to recommend improvement in present and future financial performance.

    • Makes recommendations to VP ALM & Investments regarding cost-saving or profit-generating opportunities and profitability improvement strategies.

    • Coordinates with all levels of management to gather, analyze, summarize, and prepare recommendations regarding lending and deposit growth plans, business planning, trended future requirements, and operating forecasts.

    • Researches and prepares economic reports on subjects such as rate of return, depreciation, working capital requirements, investment opportunities, investment performance, and impact of governmental requirements.

    • Assists credit union's CFO or designees in the development of the budget, planning, ALM, and other treasury corporate financial requirements.

  • Other

    • Responsible for overseeing accuracy and integrity of finance and investment data in Analytic Data Utility ("ADU") in support of analyzing future plans and forecasts.

    • Participates on the credit union's Asset Liability (ALCO), Budget, Lending, and Pricing Committees.

    • Develop an understanding of Credit Union philosophy, organization, bylaws, and operational procedures and comply with the requirements of the Bank Secrecy Act, AML, OFAC and all other applicable State and Federal Financial Institution Regulations.

Education and/or Experience

Bachelor’s degree in finance, statistics or economics. Five to eight years related finance and investment experience within a financial institution. MBA degree and credit union experience preferred.

Application Instructions

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