Financial Analyst

Are you looking to have a positive impact on people in your community?  Connex Credit Union is looking for diverse talent who are motivated to improve the financial well-being of others.  We’re a company with a long and successful history where trust is important and exceptional customer service is the standard.  We are committed to our employees, our members and the communities we serve.  If you want to make a difference and be part of a growing, inclusive organization, join us in our mission.

Benefits:

• Competitive compensation.
• Medical, Dental and Vision coverage.
• Paid time off.
• 401K contributory plan with company match.
• The opportunity to become involved in community outreach.

Description

The financial analyst (FA) role performs highly analytical and detail-oriented tasks and serves as a key resource to the Executive Vice President | CFO and others on the executive and senior management teams. The FA position is deeply involved in the credit unions financial planning and analysis, forecasting, and financial reporting – each to provide insights that support our strategic decision-making. More specifically, the FA will provide day-to-day support for our asset/liability management (ALM), profitability, and budgeting functions. The FA is also available to other departments for any special projects that require financial analysis and therefore must have a well-rounded knowledge of the industry.

Key Responsibilities

1. Financial planning, analysis, and reporting: Prepare and analyze monthly financial statements (including management’s discussion and analysis (MD&A)), budget to actual reports, and key performance indicators (KPIs) to assess and report on the credit union’s financial condition and performance.
2. Interest-rate risk (IRR): Coordinate with third-party vendor to provide data extracts and manage the process for evaluating and reporting on the IRR results to the Asset Liability Committee (ALCO). Ensure that the credit union is measuring and managing appropriate risk objectives that comply with policy objectives and risk limits.
3. Branch profitability: Coordinate with third-party vendor to provide data extracts and manage the process for evaluating and reporting on the branch profitability results used for decision making purposes. Manages the process for evaluating results and drafting MD&A reporting and reporting to key constituencies.
4. Budgeting and forecasting: Develop and manage financial forecasts, annual budgets, and long-term financial plans to support strategic objectives.
5. Financial modeling: Build and maintain financial models to evaluate business scenarios, loan portfolios, investment opportunities, and risk exposure. Analyze trends and evaluate opportunities and work with the CFO and others to develop recommendations to assist in product development, product pricing and other organizational strategic decisions.

Other responsibilities

1. Regulatory compliance: Ensure financial reports comply with regulations and internal policies, assisting with internal and external audits as well as regulatory filings and inquiries.
2. Business partnering: Collaborate with internal teams, including accounting, marketing, loan servicing, et al., to provide data-driven insights for decision-making.
3. Market and competitor analysis: Monitor industry trends, market conditions, and competitor financial performance to identify growth opportunities.
4. Process improvement: Enhance financial reporting processes and implement automation tools to improve efficiency and accuracy.

Qualifications and Requirements

• Education: Bachelor’s degree in finance, accounting, economics, or a related field.
• Experience: 2+ years of experience in financial analysis, preferably within a banking or financial services environment. Experience must include the use of net present value methodology, and financial projection simulation modeling as well as a working knowledge of fixed income products.
• Technical skills: Proficiency in financial modeling, Excel, SQL, and banking analytics software. Minimum of 1-2 years IRR modeling experience required; 3-5 years of experience preferred.
• Regulatory knowledge: A working knowledge of accounting principles and banking regulations
• Analytical thinking: Ability to interpret complex financial data and provide actionable insights
• Communication skills: Excellent written and verbal communication skills to present financial findings to senior leadership.

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