Establishes, maintains and monitors policies, procedures and internal controls as related to the credit unions ALM Policy, including liquidity policies, and the Liquidity Contingency Plan. Coordinate delivery of month-end files to vendors, validation of data and modeling output.
Lead and manage Secondary Marketing activities related to the Credit Unions Mortgage Loan Sales Strategy.
Coordinate with CFO and CLO to establish recommendations and goals for Mortgage Portfolio Holdings and Mortgage Loan Sales (Hold vs. Sale Strategies). Manage and enhance pipeline reporting to ensure accurate projections of saleable mortgage inventory/pipeline. Coordinate with Real Estate Lending / Servicing as to sales deliveries (and FNMA / GSE sales / delivery requirements).
Maintain ownership of risk management hedging to ensure interest rate and price risk are managed within established parameters. Manage and execute forward sale commitments, mandatories with FNMA / GSEs and/or Participation Sale commitments; manage / achieve best execution re timing and amount of forward sales, MSR servicing strip retention, etc.
Employ other hedge instruments as approved. Lead development of Secondary Marketing reporting to enhance transparency of opportunities and risk management. Lead and manage selective Participation Loan Sales.
Responsible for asset and liability committee (ALCO)
Reporting, summarizing the institutions interest rate risk position and supporting assumptions on a monthly basis. Prepare ad hoc analysis of current interest rate risk position using such evaluation techniques as duration analysis, funding matrices, and scenario analyses.
Asset Liability Committee (ALCO) Assist with coordination and assimilation of monthly package and deliverables. Ensure above policies are compliant with federal and state rules and regulations.
Net Economic Value (NEV) Review and analyze quarterly NEV Shock / Stress Tests. Provide quarterly analysis and commentary of changes in NEV of loans, investments, deposits, funding sources and equity that is thoughtful and considers changes in rates, yield curve, balance sheet concentrations, etc.).
Net Interest Income (NII) Review and analyze quarterly NII Shock / Stress Tests. Provide analysis and commentary of changes in NII versus the prior quarter (e.g., based on changes in rates, yield curve, balance sheet concentrations, etc.). Investigate variances that are not consistent with expectations. Apply business acumen to surface / communicate opportunities or risk to the CFO.
Profitability / Liquidity Stress Test Perform analysis and commentary on Profitability / Liquidity Stress performed by vendor / partners. Offer commentary and insights as to future considerations and long-term planning to manage risk that are apparent from Stress Test.
Liquidity Risk Management – Partner with VP of Finance and external vendor in the preparation of Liquidity-360 Quarterly Reporting. Engage with external vendor, IT and Business Intelligence Teams to insource Liquidity-360 Modeling. Provide analysis and commentary as to changes in liquidity position, risk triggers and forecast. Ensure compliance with Liquidity Policy and Contingency Funding Policy.
Perform analysis of interest income and yields on total Loans and Loan Segments (Fixed RE, ARMs, Auto, Credit Cards, etc.) versus Budget and Forecast. Perform analysis of interest expense and yields on deposits and funding sources (e.g., Checking, Money Market, CDs, Borrowings, etc.).
Perform analysis of Credit performance of various loan segments (e.g., Delinquency Rate Trends, Charge-off Trends, etc.). Collaborate with Business Intelligence Team, Lending and Credit Risk Managers for insights and commentary as to results, trends and expectations.
Expense Analysis Perform analysis of actual key expenses vs. Budget. Provide commentary as to reasons for trends better or worse than Budget. Offer insight as to recommendations to improve OPEX Ratio, Efficiency Ratio, etc.
Responsible for investment operation activities including trade settlement; interest payments from borrowing, non-member deposits, and swaps; daily swap margin process; and all accounting related to the listed transaction activity.
Support development of overall pricing strategies to manage interest rates and optimize NII and NIM. Perform variance analysis and back-testing on income forecasts and market valuations.
Partner with CFO for derivatives hedging analysis and strategies to support effective interest rate risk management of the balance sheet, while ensuring any potential hedge qualifies for hedge accounting treatment per ASC 815..
Coordinate and analyze Peer Data for External Audit and ROM Peer analyses. Perform additional Business Analysis of SFCU results to Peer. Provide commentary as to analytical trends and reasons for variance vs. Peer.
Engage proactively to review quarterly Peer data as deemed valuable or as directed by CFO. For example, data available from Call Reports, Partners, CUNA, Investment Partners, etc. Perform analysis and offer insight.
Other duties as assigned.
Qualifications and Requirements
Bachelors degree (BA or BS) from an accredited four-year college or university and 5 years of related banking, investment of mortgage banking experience with at least 3 years Management experience; or an equivalent combination of education and work experience including management, ALM, investments, secondary mortgage markets, and portfolio management. MBA and/or CPA is a plus.
Excellent abilities in the following: Strategy, Planning, Analysis, Problem-Solving, Communication, and abilities to perform at a management level to drive results. Strong business acumen and the ability to apply critical thinking with analytics.
Must have a service orientation – actively looking for ways to help people solve problems or meet financial objectives.
Ability to effectively deliver presentations on complex financial, balance sheet management (e.g. ALM, investments and liquidity) process and strategy, performance, and risk topics to a broad audience.
Demonstrated experience and familiarity with balance sheet risk management and hedging strategies.
Demonstrated modeling knowledge of loan prepayments and non-maturity deposits.
Advanced knowledge of Microsoft Applications, configuration, and graphics.
Ability to calculate, interpret and use complex mathematical formulas and concepts for fixed income securities and derivatives for valuation and risk measures including option adjusted yield, duration and spread, convexity, and mortgage prepayment speeds.
Superior written and verbal communication and presentation skills including collaboration and interpersonal skills.
Strong knowledge of technology systems and vendors used in lending workflow applications, decision engines, credit bureau vendors, scorecard models, loan management systems and risk-based pricing models. Advanced management reporting business intelligence skills.
Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions. Requires creativity, strong decision-making and quick-thinking skills and abilities.
Mathematical Skills: Ability to generate forecasts, budgets and performance metrics and to interpret results using statistical reasoning.
Possess the ability to work well with people and to create a self-motivating work environment.
Must accept empowerment to be accountable; must be willing to be coached and be teachable.
Demonstrate strong organization skills, high level of accuracy, and the ability to multi-task in a fast-paced environment while able to give attention to details.
Possess the ability to perform active listening skills: give full attention during communication, taking time to understand, asking questions for clarification.
Demonstrate complex problem-solving skills – identify complex problems and review related information to develop and evaluate options and implement solutions. Requires creativity, resourcefulness, strong decision-making and critical-thinking skills and abilities.
Keeps abreast of regulatory changes and Generally Accepted Accounting Principles
3 year(s): Management experience
5 year(s): Related banking or Investment of mortgage banking experience