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Company: Baycoast Bank
Location: Swansea
Posted on: May 9, 2022

Job Description:

Job Description FUNCTION: Under the general direction of the Senior Financial Analyst, the Financial Analyst position is within the Finance Department. Performing a variety of tasks to review, verify, and ensure the accuracy of the Bank and Subsidiaries' accounting records and/or a variety of tasks in the finance, cash management, and investment areas. RESPONSIBILITIES:Acts as backup for the Cash Management function to include monitoring the Federal Reserve and correspondent bank accounts, reviewing and verifying wire transfers and cash orders, responding to internal and external wire inquiries, preparing daily cash management reports and general ledger entries, scanning and indexing work daily. As well as monitoring WITS, answering any system related questions and acting as support staff for the branches and internal departments. Performs other cash management and clerical functions, as assigned or required.

  • Prepares monthly correspondent bank analyses and Federal Reserve charge analysis to ensure accuracy of charges and to calculate proper balance to maintain in order to minimize hard dollar charges. Prepares general ledger entries to allocate charges appropriately.
  • Prepares monthly and quarterly reports to the Executive Committee, Board of Directors and Asset-Liability Committee.
  • Performs all daily and monthly investment and borrowing accounting entries relating to Bank and Subsidiaries including monthly closing entries for Clearwater Analytics.
  • Prepares data file for Clearwater Analytics as needed to record investment activity for securities that are not held at Northern Trust. Monitors monthly payments on CRA loans, principal and interest payments at the Federal Reserve, interest payments on subordinated debt, as well as FHLB dividends and capital stock purchases or sales. Ensures accuracy in reporting and posting.
  • Prepares investment purchase and sale packages as trades are executed. Maintains investment trade log, creates Bloomberg trade ticket and researches investments to prepare cover sheets and due diligence. Reviews each trade in Clearwater Analytics for accuracy. Works with the bank's brokers to ensure accurate delivery of securities. Maintains both physical and digital files for the Bank and Subsidiaries' investment portfolios.
  • Prepares monthly general ledger reconciliations for borrowings, investments and derivatives for the Bank and Subsidiaries.
  • Prepares deposit pricing package and cash items report weekly.
  • Reviews monthly mutual fund statements from Plimoth Investment Advisors. Prepares internal analysis to ensure accurate reporting between Plimoth and Clearwater Analytics.
  • Reviews dividends, investment market values, amortization and accretion and recalculates investment accruals in accordance with FDICIA controls.
  • Responsible for maintaining updated procedures for Investments and Cash Management.
  • Responsible for training new cash management staff on the cash management function, WITS and weekly Deposit Pricing.
  • Assists with preparation of the FHLB Qualified Collateral Report (QCR), Liquidity Stress Testing and the Federal Reserve Borrower in Custody (BIC) collateral submissions.
  • Embraces the Bank's commitment to Solutions by seeking and recognizing opportunities to refer new business to different areas of the Bank, Partners Insurance Group, Plimoth Investment Advisors, BayCoast Mortgage Company and Priority Funding.
  • Assumes additional responsibilities as requested.Knowledge/Skills/Experience Requirements:
  • Accounting degree or equivalent preferred
  • Accounting and banking experience
  • Good working knowledge of computers
  • Knowledge of Excel
  • Knowledge of Oracle Financial. Not Required
  • Excellent written and verbal communication skillsKey Competencies:
    • Attention to detail and accuracy
    • Planning and organizing
    • Strong communication skills
    • Information and task monitoring
    • Problem analysis
    • Judgment and problem solving
    • Stress tolerance

Keywords: Baycoast Bank, Fall River , FINANCIAL ANALYST, Accounting, Auditing , Swansea, Massachusetts

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