Finance Manager

Function

Reporting to the Controller, the Finance Manager provides leadership, direction, and coordination of activities for the Finance team, while supervising Finance Analyst staff with emphasis on development and growth. The incumbent manages and performs financial analysis of balance sheet, income statement, profit and cost centers and other reports required to assist senior management in strategic decision making. Performs interest rate risk modeling, gap and liquidity analysis, and is responsible for profitability reporting.

Leads the annual operating and capital budget process. Oversees the secondary market loan sale executions and loan pricing models. This position is also responsible for providing information to the Controller, CFO, and the Board of Directors in order to maintain sound investment and balance sheet management.

• Key participant in all ALCO related matters. Prepares the Bank’s quarterly interest rate risk model, including income simulation reports, economic value of equity, derivative, and liquidity reports. Maintains the interest rate risk model, model assumptions, and is responsible for back-testing model results. Maintains the Investment and ALCO Policies.
• Assists in the management of the Bank’s interest rate risk position. Identifies risk exposure and develops risk mitigation strategies for review by the Management/ALCO and Board/ALCO Committees. Develops analysis to identify the Bank’s optimal balance sheet structure that maximizes the net interest margin.
• Key participant in the development and implementation of loan and deposit products. Assesses potential financial impact of product pricing changes. Coordinates approved product and pricing changes with the Retail, Lending & Operations teams.
• Acts as Secretary of the Management/ALCO and Board/ALCO Committees and is a member of the Pricing Work Group. Responsible for the preparation and delivery of meeting materials and recordation of minutes. Regularly presents reports and proposals at committee meetings.
• Suggests and assists with execution of investment strategies for the bank’s portfolio. Monitor market changes to adjust and optimize investment strategies to enhance earnings and identify potential risks and opportunities.
• Assists Controller with the management of the Bank’s derivative transactions. Participates in the strategy and execution of swap transactions and is responsible for the day-to-day maintenance and reconciliation of derivatives and related general ledger accounts. Maintains the Derivatives and Hedging Policy.
• Routinely interfaces with outside consultants including the Bank’s investment and derivative advisors.
• Assists Controller with liquidity management. Manages the Bank’s daily cash management function, third-party collateral positions, and investment account cash balances.
• Leads the annual operating and capital budget development process, with primary ownership of the budgeting module. Coordinates budget discussions with outside departments to facilitate completion of departmental budgets.
• Assists in managing wholesale borrowing operations, including brokered deposit issuance and renewals.
• Assists in the assessment of AFS security credit loss decisions. Gathers and reviews supporting documentation to ensure relevant information is available for decisioning.
• Assists Controller in the oversight of secondary market function:
• Loan purchases & sale operations
• Approves the daily mortgage interest rates on retail, wholesale, and second mortgages.
• Ensures loan pricing aligns with Bank strategy and guidelines set by the Management/ALCO Committee.
• Prepares and reviews various board and management reports including branch, department, and product profitability reports, market share and feasibility reports, etc. Assists in analyzing operating results, including budget variances and peer analysis.
• Responsible for maintaining and reporting of Profit Stars profitability module. Act as liaison with departmental managers on their individual reporting needs.
• Responsible for maintaining and reporting of Profit Stars CECL module and reporting. Act as liaison with Lending and Credit department…