Company in Financial Services is looking for a VP: Finance
Oversee the annual budget process, capital & contingency funding planning, and the strategic plan including but not limited to the economic update and forecasts over the time horizons needed to meet regulatory and internal requirements including board communications. Responsible for the completion of the annual capital and contingency funding plan, including stress testing.
Responsible for recommending and purchasing investments, working with various executives on pricing loans and deposits, developing borrowing strategies, and implementation of derivative strategies that will maximize profitability and protect against interest rate & liquidity risks. In addition this position will be required to perform profitability analysis on department and product levels.
Provides interest rate risk and liquidity monitoring and reporting through financial modeling and forecasting using Asset Liability Management (ALM) software, which is essential to the deposit and loan strategy for the organization. Review ALM model input assumptions and results. Maintain documented system, policies, and assumptions. Extract data, prepares analyses and write-up, and presents findings and recommendations with supporting data. Work with ALM outsources providers regarding in-house modeling and validations.
Provide monthly forecast with comparisons to budget and variance analysis, which guide strategic financial decisions for the organization. Research variances from budgets in results. Works directly with other departments to monitor their forecasting and identifying trends in financial performance and provides recommendations for improvement. Regular back-testing and documenting results of models including but not limited to forecasts, liquidity / cashflow projections, supports other departments and senior management as necessary (including profitability analysis). Provide ad hoc forecasts and what if scenarios. Assists in data gathering for audits, studies, and analyses.
Oversee all finance reporting obligations, ensure reports are completed with accuracy and on time, procedures are in place, and business continuity is in place. Engage outside third parties for validation of various financial models. Stay abreast and incorporate all changes and new regulations that financially impact business and communicate these to executive management.
Maintains policies for capital, ALM, investments, liquidity, concentration policies and manages compliance with policies. Ensures procedures are in place for all processes and functions.