Financial Analyst

JOB Objective:

Under the general direction of the Manager, Financial Planning & Analysis, the Financial Analyst supports the preparation, maintenance, analysis, and distribution of financial reports, forecasts, models, and related data used by the Finance department and management. The position assists with financial planning, budgeting, profitability reporting, asset/liability management, liquidity monitoring, investment reporting, regulatory reporting support, and ad hoc financial analysis.

This role is responsible for gathering and validating data, maintaining recurring reports, preparing analytical schedules, documenting processes, and helping ensure that financial information is accurate, timely, complete, and useful for decision-making. The position also supports internal business partners by providing financial data, explanations, and analysis in a clear and service-oriented manner.

DIMENSIONS:

Supervisory responsibilities:

The incumbent reports directly to the Manager, Financial Planning and Analysis. There are no direct reports to this position.

NATURE & SCOPE:

• Asset/Liability Management (ALM): Assists with the ALM function of the credit union. Assists in the administration of the credit union’s in-house and/or third party ALM modeling process, including: the quarterly update process; chart of account changes; model assumptions; and all related balancing, validation and reconciliation activities. Prepares timely and reliable income simulation and interest rate risk results, analyses and reporting for management and the Board of Directors to help ensure the safety and soundness of the credit union and compliance with Policy Manual limitations and regulatory requirements. Helps maintain sophisticated analytical methods and tools to validate, benchmark and improve financial model performance and accuracy, including the calibration of mortgage prepayment, credit card asset, non-maturity share decay and other factors.

• Financial & Statistical Reporting: Assists in the coordination and preparation of regularly cycled internal and external financial, statistical and other reports, including bi-weekly ALSC report packages, monthly financial statements and report packages for management and the Board of Directors, quarterly Federal Home Loan Bank mortgage collateral reports, and other reporting as necessary. Analyzes and helps translate financial data into clear summaries for internal stakeholders.

• Financial Analyses: Performs analyses of existing and contemplated products and services, mergers and acquisitions, and policy changes that affect the financial condition of the credit union. Provides results and recommendations to help formulate overall strategy to management and the Board of Directors, as appropriate. Analyzes and assists with the deployment of new technologies, as appropriate. Represents the Finance department on various ad hoc teams. Provides forecasting and analytical efforts to support short-term and long-term organizational goals. Prepares the financial analysis of existing and proposed vendors to verify their financial capacity to complete contracted services. Conducts ad hoc analysis and performs other special projects, as appropriate. Interprets and explains results of various analyses and variances.

• Investment Management: Assists with investment activities and daily management of the investment portfolio. Performs investment analyses. Coordinates, prepares, reviews, approves and distributes periodic investment reporting. Maintains investment files and documentation and ensures that current and proper information is available for internal and external audits and examinations. Assists in the required due diligence for new broker/dealers and acquires annual broker/dealer compliance information from outside sources, as needed.

• Liquidity Management: Assists with the liquidity management function of the credit union. Systematically monitors and projects periodic cash requirements, deposit flows and cash availability, and funding projections and requirements. Coordinates, prepares, reviews, approves and distributes periodic liquidity reports, including the daily liquidity dashboard.

• Member Service: Continuously provides exceptional service to internal and external members. Supports and acts in alignment with credit union vision, values and mission.

• Operating Plan (Budget): Assists in the preparation, coordination, review, verification and validation of various aspects of the annual credit union operating plan. Accepts responsibility for the accuracy of assigned portions of the annual planning process. Provides training to managers participating in the budgeting process, as needed.

• Profitability Management: Assists in the credit union’s Profitability modeling process, including: performing the monthly update process; chart of account setup and maintenance in addition to suggesting design changes; model assumptions; and all related balancing, validation and reconciliation activities. Prepares, reviews and explains accurate, timely and reliable organization, product and member profitability results, analyses and reporting. Coordinates the gathering of Activity Based Costing (ABC) analyses to measure and assign costs to work activities, processes, products/services and members.

• Secondary Market Activity: Assists in monitoring the held-for-sale residential loan pipeline as a basis for analyses of secondary market transactions including best-efforts and mandatory commitments to achieve best execution and effectively manage the mortgage pipeline.

• Lead team member on departmental projects as requested by management.

• Maintains a broad knowledge of financial systems, models and analysis techniques. Learns new applications and attends seminars and classes to keep abreast of new technologies.

• Maintains specified rates on the core system: Executes authorized share and loan rate changes on the core system and coordinates changes with other departments to ensure that new rates are correctly communicated to internal and external references. Provides and communicates periodic updates for real estate loan indexes to internal and external references.

• Performs other duties as required.

• Regularly prepares and delivers oral and/or written briefings and reports to management, the ALSC and other members of the Financial Planning and Analysis team.

Education, skills, & abilities:

The Eight Superpowers

1. Provides leadership through modeling of behaviors and bringing forward new ideas and new ways of doing things.
2. Demonstrates empathy, self-reflection, and adjustment of own behaviors, showing effective emotional intelligence.
3. Practices active listening in communications with others, giving someone full attention and listening to understand, not just respond.
4. Demonstrates grit, persisting in application of knowledge, skills, and behaviors to achieve goals and address obstacles.
5. Models intrinsic motivation; is self-driven to meet or exceed objectives, timelines, and quality measures while building and sustaining effective relationships.
6. Applies creative problem-solving to provide clarity, handle resources under one’s control, and address stressful situations; finds ways to meet individual, team, and member goals, by navigating through barriers.
7. Shares a diverse set of perspectives, work and life experiences, as well as religious and cultural differences. Actively seeks out differences in values, ideas, and priorities. Respects and value the differences of others, including but not limited to: national origin, language, race, color, disability, ethnicity, gender, age, religion, sexual orientation, gender identity, socioeconomic status, veteran status, and family structures. Believes a diverse workplace is essential to the company’s success.
8. Values and shows appreciating for the unique qualities and experiences of each person-inclusion; appreciates and effectively utilizes the talents and skills of others to achieve objectives; is open to the perspective of others; and encourages collaboration, flexibility and fairness. Makes each employee feel valued and supported for their unique qualities.

Other Education, Skills, and Abilities

• A Bachelor’s degree, preferably in Accounting, Business Administration, Economics or Finance, and 2 years or more of related experience, preferably in a financial institution, that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.

• College level knowledge of economic, financial, market and risk theory and principals.

• High level of proficiency in Microsoft Office applications, including Word, PowerPoint, Outlook, and Access. Prior experience using asset/liability management and/or profitability models preferred.

• Experience with Power BI, Power Query, SQL, data visualization tools, financial reporting systems, ALM Systems, profitability systems, or core baking platforms preferred.

• Excellent planning and organizational skills; analytic and problem solving skills; and oral and written communication and presentation skills. Ability to condense highly technical subject matter into clear and effective communications to management and others.

• Team-oriented, independent, innovative, creative and organized.

• Proven project management skills and ability to manage multiple projects simultaneously, set priorities, meet deadlines, elicit cooperation for various functional areas and implement change.

• Working knowledge of credit union operations, products and services preferred.

• Ability to operate business machines such as computer and printer.

• Ability to appear for work on time, follow directions from a supervisor and keep the supervisor informed of activities and issues, interact effectively with co-workers, understand and follow posted work rules and procedures, and accept constructive criticism.

MAJOR ACCOUNTABILITIES:

• Assists in updating the credit union’s ALM modeling process and performs income simulation and interest rate risk analyses utilizing the credit union’s ALM model.

• Prepares, reviews, distributes and explains periodic financial, managerial and other reports for the ALSC, credit union management, the Board of Directors and others.

• Develops and performs complex studies and financial analyses.

• Provides exceptional service to internal and external members.

• Assists with daily management of the investment portfolio. Systematically monitors and projects periodic cash requirements, deposit flows and cash availability, and funding projections and requirements.

• Maintains the credit union’s profitability modeling process and prepares organization, product and member profitability reports and analyses utilizing the credit union’s Profitability model. Conducts ABC analyses to improve cost assignments and allocations utilized in the Profitability model and other analyses.

PHYSICAL REQUIREMENTS:

• Ability to tolerate periods of continuous sitting; ability to operate and utilize a personal computer and peripherals.

ENVIRONMENTAL CONDITIONS:

• Work is primarily performed within an office setting. Subject to conversational noise found in an office environment.

Note: Staff is expected to perform various tasks, projects and administrative duties as assigned.

Management reserves the right to assign or change duties and tasks to this position at their discretion.

Salary Range (annually)

$70,304.00 - $84,206.20