Company: Baycoast Bank
Posted on: May 9, 2022
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
- 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
- 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
- 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
- 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
- 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
- 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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