Financial Analyst (Liquidity)
Position Purpose/Summary: Provides exceptional service by performing liquidity-related daily analytical and technical functions that enable improvements to be made. Calculates and analyzes liquidity needs and regulatory levels appropriate for efficient use of cash. Maintains records of authorized staff permission levels to conduct various transactions with financial correspondents.
Essential Duties and Responsibilities: All duties and responsibilities align with the Visions Federal Credit Union Mission Statement and are subject to reform at-will of the company. Job Duties include, but are not limited to:
- Calculate and analyze daily cash balances at financial correspondents, making appropriate recommendations to management to ensure cash needs of the credit union are met and cash positions optimize income
- Daily reconciliation of financial correspondent (bank) cash accounts and preparation of general ledger entries
- Track daily cash balances and earned interest rates on overnight investment accounts
- Arranges for appropriate transfer of funds or securities on investment transaction settlement dates
- Calculate daily Federal Reserve Bank reserve balance requirement and maintain a spreadsheet to track the balance and report to management when balances are lower than required
- Maintain listing of credit union authorized users with financial correspondents that complies with credit union policies and adheres to internal controls. Manage access of authorized staff.
- Use the Liquidity Perspectives reporting module in ProfitStars to perform cash flow analysis in preparing the monthly Cash Flow forecast for presentation to management at Asset/Liability Committee (ALCO) meetings
- Produce monthly ALCO package content relating to liquidity as required by regulation and credit union policies
- Prepare the Liquidity Early Warning and Liquidity Shock Test reports and analyze report output. Prepare written recommended risk reduction action steps when risk levels are medium or high.
- Participate in the annual review and update to the Liquidity and Contingency Funding Policy
- Provide all requested liquidity-related files, records, etc. for annual NCUA examination
- Provide all requested materials involving liquidity for the annual external audit
- Act as back-up to the Financial Analyst-Profitability and the Financial Analyst-Asset/Liability positions as it relates to IRR/NEV measurements using ProfitStars
- Provide the Financial Analyst-Asset/Liability position with liquidity forecasting data for the Asset/Liability model and budget model
- Maintain a current working knowledge of liquidity management best practices
- Adhere to all credit union policies and procedures
- Communicate professionally with all colleagues
- Thorough understanding of company systems and procedures
- Must be able to travel to attend meetings or educational sessions as needed
- Must be adaptable to changes in the work environment, comfortable with multiple competing demands and able to deal with frequent change, delays or unexpected events in a calm and logical manner.
- All employees must embrace and foster an environment that supports our mission and core competencies.
- Perform other job-related duties as assigned.
Standard Essential Physical Functions: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Daily requirements may include (but are not limited to):
- Ability to stand/walk up to 2 hours, sitting for up to 6 hours
- Able to lift/carry up to 10 pounds
- Typical manual dexterity for working with papers, files, keyboarding, etc.
- Minimal travel may be required for this position.
Essential Knowledge, Skills, & Abilities: Due to the nature of this role in dealing with various layers of management on an on-going basis, the position requires (and is not limited to):
- Excellent interpersonal and communication skills (both verbal and written)
- Efficient time management and organizational skills
- Flexibility (able to adapt to changing environment)
- Positively communicate with staff while providing excellent service through analytical endeavors
- Strong computer and math skills, adherence to confidentiality, detail-oriented
Usual Work Environment/Equipment Used: This position operates in a professional office environment, with expectation to use standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines, PCs, Microsoft Office, etc.
Disclaimer: The preceding job description has been designed to indicate the general nature and essential duties and responsibilities of work performed. It may not contain a comprehensive inventory of all duties, responsibilities and qualifications required to perform work. Management retains the right to add or remove responsibilities at its discretion. The above job description does not constitute a contract of employment and Visions Federal Credit Union may exercise its employment-at-will rights at any time. Employees are equally subjected to all policies and procedures of the company per the employee handbook.
EEOC & Affirmative Action Statement: Equal Employment Opportunity for all persons is a fundamental goal and policy of Visions Federal Credit Union. Visions recognizes and reaffirms Title VII of the Federal Civil Rights Act of 1964, New York’s Human Rights Law and Credit Union regulations that there shall be no discrimination against qualified applicants or employees on the basis, of race, color, national origin, religion, creed, age, handicap, disability, marital status, predisposing genetic characteristics, sexual orientation, or any other class protected by federal, state, or local law. It is the duty of Visions Federal Credit Union to provide reasonable accommodations to qualified individuals with disabilities under the Americans with Disabilities Act (ADA).
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