Finance Manager

Job Description

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.

GENERAL DESCRIPTION OF DUTIES:

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 ProfitStars profitability module. Act as liaison with departmental managers on their individual reporting needs.

Responsible for maintaining and reporting of ProfitStars CECL module and reporting. Act as liaison with Lending and Credit department managers on their individual reporting needs.

Responsible for preparation of assigned Call Report schedules, the FHLBB Qualified Collateral Report and other assigned regulatory reporting.

Responsible for the reconciliation of assigned general ledger accounts.

Serves as owner of various FDICIA controls.

Performs other related duties as required.

Completes all required compliance training as assigned in a timely manner

LEADERSHIP PHILOSOPHY:

Empower & Support: Prioritize employees' growth by providing resources, mentorship, and opportunities for success.

Lead with Integrity: Foster a culture of trust, transparency, and ethical decision-making.

Encourage Collaboration: Fostering an environment that leverages collaboration, innovation, and accountability to achieve strategic goals

OTHER REQUIREMENTS:

Critical and Strategic thinker with a strong attention to detail.

Seasoned problem solving, analytical and decision-making skills. Demonstrates ability to work independently on complex issues and projects. High regard for important details, with excellence in attention to detail, to assure accuracy in every transaction, report and /or process; detect errors, follow through on corrections and details.

Ability to effectively identify, extract, and analyze relevant data to support decision making and assessment of Bank strategies.

Ability to effectively communicate and present during Management Committee meetings.

Strong working knowledge of financial and budget processes to include creation and maintenance of forecasting models.

Keeps abreast of economic and monetary market conditions as well as all regulatory agencies' regulations concerning the Bank.

Represents the interests of the Bank by providing leadership to and/or participating in various community and civic activities.

DIGITAL LITERACY: The ability to use data, information, and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills.

Information, data, and content

Teaching learning and self-development

Communication, collaboration, and participation

Digital identity, safety, and security

Technical proficiency with all bank products

Awareness and interest in new technology

Creation, innovation, and research

POSITIONS SUPERVISED: Financial Analyst I & II

EXPERIENCE REQUIRED: Five to eight years of banking, or related experience in finance and/or accounting. Proficiency with Microsoft Word, Excel, and Access programs along with a robust understanding of complex financial software is required. Experience with ProfitStars or other financial forecasting or ALM software is preferred.

EDUCATION REQUIRED: A bachelor’s degree in finance, economics or a related field.

*Compensation: Compensation is based on our market pay structures. However, individual salaries are determined by a variety of factors including, but not limited to business considerations, local market conditions, and internal equity, as well as candidate qualifications, such as skills, education, and experience.

Ascend Bank is an equal opportunity employer and offers equal opportunity to all applicants for all positions without regard to race, color, religion, national origin, age, disability, and veteran status.

Applicants requiring reasonable accommodation in the application process should notify Human Resources.

Ascend Bank participates in E-Verify.

EOE/AA/M/F/D/V

Full-time