VP Financial Planning & Analysis

Welcome to PeoplesBank! We are the largest mutually chartered bank in Western Mass and Northern Connecticut and a leader in green values, sustainable energy financing, and charitable giving. We operate in the best interest of our customers and strive to be an inclusive and engaging work environment. We offer excellent compensation, workplace flexibility, and a competitive benefits package to our associates. Our award-winning culture has earned us recognition as Best Place to Work and Best Local Bank. Come join our team of dedicated and innovative individuals and contribute to our dynamic, successful organization.

Summary: The VP FP&A will be responsible for managing the Banks Asset Liability Management (ALM) process and overseeing the quarterly ALM reporting to the Asset Liability Management Committee (ALCO) of the Bank and to the Board of Directors. This position will have oversight of the annual net interest margin budget and reporting process, as well as being responsible for the development of a bank wide profitability system and deposit analytics system. The VP FP&A will also oversee aspects of the Bank's strategic planning process, forecasting, capital planning, and month end financial reporting close process.

Essential Duties and Responsibilities include the following. Other duties may be assigned

• Oversee the quarterly Asset Liability Management (ALM) function at the Bank, including interest rate risk (IRR), non-maturity deposit (NMD) analysis, and liquidity stress testing. ALM is currently operated via an in-house managed third-party software, Empyrean, which is run and managed by the FP&A Officer.
• Review, evaluate and analyze ALM results and make recommendations for balance sheet and liquidity strategies, process and reporting efficiencies and ALM software enhancements
• Responsible for ALM reporting packages and presentations to the management Asset Liability Committee and the Board of Directors.
• Responsible for the periodic evaluation and update of all significant ALM model assumptions, including but not limited to asset prepayment speeds, loan betas and decay rates.
• Ensure that the Banks ALM process and management (including IRR and liquidity management) adheres to regulatory policies, guidelines, best practices; and the Banks internal Asset Liability/Liquidity Policy.
• Responsible for managing the Banks Asset Liability/Liquidity Policy and all required documentation of decisioning relative to policy.
• Oversee the annual net interest margin budget process by working with the FP&A Officer and cost center managers to develop asset/liability balance and interest rate assumptions for the budget.
• Assist in the oversight and preparation of the annual budget package and presentation for the Finance & Accounting Committee and the Board of Directors.
• Oversee the month end close process for the net interest margin, working with the FP&A officer to research, resolve and explain variances; monitor margin results to budget, forecasts and strategic plan.
• Assist in the oversight, development, monitoring and reporting of the Bank's strategic plan, specifically net interest margin and liquidity components.
• Responsible for the development of a rolling net interest margin financial forecast process to allow management better insight into anticipated financial results, utilizing actual financial performance and expected/anticipated asset/liability balances, interest rate scenarios, economic conditions and other factors.
• Responsible for the development of a profitability system/software/analysis, utilizing third party software or other internally developed models. Working with the FP&A Officer, oversee business line, product, branch and customer profitability, and the ongoing monitoring, calculation and reporting of profitability.
• Responsible for the development of a deposit analytics tool to better inform bank management of deposit behavior and allow the Bank to make better informed pricing decisions. Working with the FP&A Officer, evaluate external deposit analytics software along with in-house capabilities to develop a deeper understanding of deposit account and deposit relationship behaviors, customer segmentation, cannibalization and branch level analytics.
• Oversee month-end financial reporting close process for net interest margin and other areas at the direction of the EVP/CFO.
• Oversee the Banks capital planning process, including establishing basic business and economic assumptions and guidelines underlying the development of the capital plan
• Oversee net interest margin, ALM, Liquidity and KPI reporting and make recommendations on best practices, automation, and reporting systems
• Respond to ad hoc requests from the EVP CFO and other members of management.
• Completes all yearly compliance training and testing and complies with bank, federal, and state regulations. Complies with Bank Policies and Procedures. Adheres to departmental and bank-wide service standards.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Education and/or Experience:

Generally requires a four-year degree in finance or accounting, Master's degree or other advanced professional certification preferred, with 6+ of relevant experience managing ALM, liquidity, profitability and budgeting at a financial institution.

Skills needed:

• Thorough understanding of ALM and liquidity, including regulatory guidance
• Understanding of basic accounting principles and procedures, with ability to train others in related practices and procedures.
• Excellent organizational skills and attention to detail.
• Excellent written and verbal communication skills.
• Ability to follow verbal and written instructions.

Certifications, Licenses and/or registrations: N/A

Computer Skills:

Proficient in Microsoft Word and Excel, Flexi GL, Empyrean ALM Software, Vena Financial Reporting Software, SSRS and Power BI reporting software. General knowledge of computer applications including Microsoft Access and PowerPoint.

Work Environment and Physical Demands: The working conditions and physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the associate is regularly required to sit, use hands to sort, write and keyboard, and to listen and speak. The associate is frequently required to reach, walk, stoop, crouch. The associate is occasionally required to stand, lift, bend, drive and travel.