- Is responsible for performing interest rate risk simulations, capital and liquidity stress testing and most likely income projections utilizing the Asset Liability Management Model among other models.
- In line with the previous accountabilities the Incumbent will proficiently update the current position data in the model on a monthly basis. This involves extracting data from the host systems and importing data into the model. Adjustments to the way data is mapped to the current position may be necessary to ensure the current position reconciles to general ledger.
- Performs all necessary updates to the assumptions used in the model and tests the assumptions for validity to ensure that a viable model is maintained and appropriate results are generated. This includes rate forecast, cash flows, prepayment, rate spread, balance sheet growth assumptions, and credit loss assumptions.
- Performs a variety of simulations in the model on a monthly basis for the purpose of strategy development and interest rate risk management.
- Assists in preparing a presentation package to ALCO. Attends monthly ALCO meetings. Records and distributes the minutes of the monthly meetings.
- Prepares and presents periodic analysis of Investment Portfolio performance and wholesale borrowing positions and makes proposals for maximizing the return on the Investment portfolio and minimizing expenses on wholesale borrowings within policy guidelines, existing market conditions and balance sheet management requirements.
- Prepares and presents periodic analysis of deposit and loan pricing effectiveness and appropriateness and makes proposals for changes. Assists with the management and maintenance of the loan pricing model for commercial loan pricing.
- Participates in special tasks and projects as requested by management including the preparation of various department reports.
- Ensures that the asset/liability simulation software and relative systems are functioning properly and coordinates any updates or changes to the system. Ensures proper backups are performed and disaster recovery plans are up to date and in force.
- Ensures best practices and regulatory expectations are met with respect to interest rate risk and liquidity risk management.
- Medical/Dental/Vision Insurance
- Flexible Savings Account
- 401(k)
- Tuition Disbursement and Reimbursement
- College Loan Pay Down Program
- and other great benefits
- We get to volunteer in areas that are meaningful to the bank and impactful in the community.
- Through generous contributions, we have raised over $912,000 in 2022. No item or donation is too small; we find a home for it all.
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Asset Liability Analyst III - Iselin, United States - Provident Bank
Description
How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community? Provident is a successful and highly regarded multi-billion dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York. Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do. At Provident Bank, we are committed to enhancing our customer and employees' experience.
POSITION SUMMARY
Under general direction of the Asset Liability Manager, this position's role is to maintain and process the Asset Liability Model, prepare presentations to ALCO and recording the minutes of the meetings. Incumbent performs loan and deposit pricing analysis, assists with the management of the investment portfolio, wholesale borrowing analysis and prepares various management reports. This Incumbent is considered a very seasoned professional in this field of expertise. The Incumbent is expected to have a comprehensive knowledge of financial analysis as applied to asset liability risk management.
MAJOR JOB RESPONSIBILITIES
SKILLS AND TRAINING
Proficient with asset liability management software. Proficient in Excel and Word.
Ability to apply generally accepted accounting principles.
Ability to analyze and understand economic concepts.
Ability to analyze and interpret financial information
Ability to define problems, collect data, establish facts and draw conclusions.
Ability to work with mathematical concepts such as probability and statistical inferences and
apply concepts.
Excellent communication skills.
EDUCATION
Bachelor's degree in Finance, Accounting, or Business Administration
WORK EXPERIENCE
5 to 7 years experience in a Treasury Financial Analysis
LICENSES AND/OR CERTIFICATES
Licenses and CertificationsExpiration Date
None
FEATURED BENEFITS
Work is performed in a normal office environment. Noise levels are usually moderate.
HAZARDS
The hazards are mainly those present in a normal office setting.
This job description may not be all- inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management
Diversity
Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.
About Provident Bank
For more than 180 years, Provident Bank has served individuals, families, and businesses in our local communities with personal and business banking services.
Volunteering is a Way of Life
Our brand promise - "Commitment you can count on" - supports the investments we make in the community and donations made by our employees. It's a promise also reflected in the volunteerism of our employees, who lend time and talent and countless hours to assist hundreds of organizations and thousands of people and animals each year.
Why do we love it?
