VP/Asset Liability Management & Profitability Manager

Job Description

Job Description

Coastal1 Credit Union is seeking to hire a Vice President Asset Liability Management & Profitability Manager. As a key member of the finance team, you will be responsible for establishing a framework for overseeing the development of programs and / or models that evaluate the financial stability, risk management and profitability of the institution.

This position executes the asset-liability management responsibilities to support management of regulatory deliverables such as Interest Rate Risk, Liquidity Risk, Balance Sheet Management Strategies, and Capital Stress Testing.

This individual plays an integral role in the capital planning function, responsible for key inputs to support risk management and financial decision-making.

Key responsibilities include the ongoing development, calibration, back-testing, and documentation of model assumptions.

An ideal candidate has technical quantitative expertise with a strong working knowledge of a financial institution's balance sheet and business model.

Educatio n & Experience Requirements

• Bachelor’s Degree from a four-year college or university in finance, accounting, or related field required (Master’s preferred).
• Minimum of 5 years successful experience in financial services industry.
• Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) designation is advantageous.
• Proficiency in financial modeling, data analysis, and budgeting software.
• Strong understanding of credit union operations, regulations, and risk management.
• Analytical mindset with attention to detail.
• Excellent communication and presentation skills.
• Ability to adapt to changing market conditions and regulatory requirements.
• Strategic thinking and problem-solving abilities
• Computer proficiency to include MS Office, familiarity with automated general ledger systems and PC based applications.
• Demonstrated ability to manage multiple priorities simultaneously. Time management / organizational / multi -tasking skills, ability to use good judgement, be able to work under pressure and have the ability to meet tight month-end deadlines.
• Ability to maintain a positive and upbeat Credit Union image.
• Demonstrated ability to work collaboratively across all levels and functions of the organization to coordinate solutions.
• Ability to effectively balance policies, procedures and administrative requirements of the Credit Union.
• Ability to work independently and as a team member.

Founded in 1928 and based in Pawtucket, Coastal1 Credit Union is a growing, member-focused organization serving over 130,000 members.

Today, Coastal1 has 19 branches throughout RI and MA, including Bristol, Cranston (2), Cumberland, East Greenwich, East Providence (2), Johnston, North Kingstown, North Providence, Pawtucket (3), Providence, Smithfield, Wakefield, Warwick (2), and North Attleboro.

We are committed to helping members achieve their financial goals. Coastal1 Credit Union is committed to providing the best in products, services, rates and changes in technology for our members convenience and security providing "The smarter way to bank.

We are focused on simply being the best overall community financial institution in the markets we serve.

Coastal1 offers competitive pay and great benefits including medical, dental and vision for you and your dependents. In addition, we offer paid time off to promote work / life balance, on-site fitness center, 401(k) with a company match, employee homebuyer assistance, plus much more!

Duties & Responsibilities

Act as liaison to external Consulting Group, gathering and analyzing data that is used to develop and evaluate the organization’s asset / liability management (ALM) strategy.

Review / analyze the quarterly ALM package, researching any discrepancies.

Generate accurate interest rate risk management reports, including balance sheet and income sensitivity reports. Monitor and report on compliance with internal policy measures.

As applicable, work with external Financial and ALM Consulting Groups to analyze potential hedging strategies.

• Monitor the Credit Union’s liquidity to ensure institutional compliance with liquidity policies. Model cashflow stress tests, liquidity forecasts and effective early warning indicators.
• Contribute to the design, calibration and maintenance of the internal liquidity management metrics including Early Warning Indicators.

Monitor and report on the professional background and good standing of the investment brokers and firms used by the Credit Union.

• Develop full product profitability studies, scenario tests and simulation studies.
• Manage and own the profitability and budgeting software suite, prepare monthly forecasts, annual budgeting, IRR / NEV calculations, calculate branch / organizational and product profitability.

Maintain and enhance the profitability model to make it more robust, dynamic, and more reflective of the current operating environment and conditions.

Keep abreast of regulatory changes and financial markets trends and developments potentially affecting liquidity, funding and structural risks, and make recommendations for enhancements to the liquidity management framework.

Identify, assess, and mitigate various risks, to include NCUA’s seven categories of risk as they pertain to the financial stability and profitability of the credit union, ensuring compliance with regulatory requirements and industry best practices.

• Liaise with different departments to obtain data necessary for ALM outputs and contribute to collaborative activities
• Maintain the data and assumptions used in the profitability and budgeting application to produce effective forecasting and budgeting models / reports.
• Effectively communicate ALM objectives and achievements to senior management, among others. Coordinate ALM calendar / meetings and prepare meeting minutes.
• Analyze funding sources (such as deposits, bonds, or borrowings) to minimize costs while maintaining stability.
• Support the CFO in design and execution of stress tests to evaluate the potential effects on the credit union’s financial conditions from exceptional but plausible events.
• Lead annual budgeting process, utilizing the budget software. Construct an annual budget that optimizes corporate performance consistent with the business objective of the board and management of the Credit Union.

Monitor budget performance and recommend adjustments as needed.

Participate in new product design and development discussions. Develop models to assess the profitability of proposed products, services, and investment strategies.

Identify opportunities to enhance profitability.

Perform other duties or projects as required.

EOE / M / F / Vet / Disabled