Financial Analyst - Branchburg, NJ

Financial Resources Federal Credit Union Inc•Branchburg Township, NJ

5d•Hybrid

About The Position

Financial Resources FCU has been designated one of the Best Places to Work in NJ since 2022! At FRFCU, we are "putting people first" and that starts with our employees! Come see why our team members have voted us for Best Places to Work in NJ! Financial Resources is a not-for-profit federal credit union with locations in Somerset, Hunterdon, Middlesex, Union and Hudson Counties. With a history of serving our members for more than 100 years, we have grown to more than $650 million in assets serving more than 29,000 members with 6 public access branches and a team of 100 employees. We are available Nationwide! Our Accounting and Finance Department is recruiting for a Financial Analyst. The Financial Analyst is responsible for performing analytical and operational support duties within the Finance Department. The Financial Analyst assists the SVP Finance and Accounting as directed; analyzes financial statements and other related documents; completes analyses on profitability, pricing, peer data, valuations, liquidity, concentration, investment activities, budgeting (including modeling and what if scenarios), loan analytics, and reconciliations; prepares reports of key performance indicators, ad hoc analysis reports and cost/benefit information as needed or requested. This position is located in Branchburg, NJ and will require on site work, 5 days per week, during the first 90 days of employment. After this, based on satisfactory work performance, you will qualify for our Work/Life Balance program with options to work in the office 3 days per week, remotely 1 day per week and have off 1 day every week. Welcome to our 4 day work week program! We are looking for someone who exhibits the following competencies: Caring Initiative Ethics Job Knowledge Self-Development Teamwork Analytical Thinking Results Driven Problem Solving Communication

Requirements

Have a Bachelor's degree in Finance and advanced training/education.
5 years of progressive work experience in a financial institution, accounting or finance position
4 years of financial, ALM, budget and investment experience
4 years of experience in performing financial analysis of financial products and services
Professional, well-developed, interpersonal skills necessary for communicating with members, co-workers and vendors on Credit Union-related matters
Proficiency in Microsoft Office Applications with advanced Excel skills required. Proficiency in financial modeling
Thorough knowledge of GAAP

Nice To Haves

MBAs are preferred

Responsibilities

Responsible for timely, complete and accurate reporting of all financial information and reports including but not limited to all regulatory, ALM (Asset Liability Management), loan analytics, budget & investment reporting.
Prepare information for Pre-ALCO (Asset Liability Management Committee) and ALCO meetings.
Prepare semi-annual budget for interest sensitive assets and liabilities and assist departments with non-interest income and expense projections as well as loans and deposits. This includes update of model, review and consolidation of information/reporting for VP/CFO review.
Analyze income and expenses and compare to monthly budget. Prepare detailed explanations of budget variances to be reviewed by management.
Perform cost/benefit analysis and proformas on products, services and programs presently in place and proposed.
Develop and report on competitive analysis and other key metrics. This includes assisting with reports/schedules for Pricing Committee meetings.
Ensure all activities are in accordance with best practices and the records are maintained accurately and in compliance with laws, regulations and principles.
Functions to assist the Credit Union in making sound decisions regarding investments, asset liability management, strategic analysis and maintenance of the investment, loan and deposit portfolio.
Review cash positions to ensure proper utilization and deployment of the organization’s assets. Ensure liquidity levels are sufficient to address ongoing funding requirements.
Prepare/review general ledger reconciliations while working with various departments.
Develop key vendor relations – primarily ALM, loan analytics, budget & investment related.
Provide to vendor all the necessary information needed for the quarterly Asset Liability Management (ALM) analysis. Review ALM analysis and make recommendations as appropriate.
Properly allocate resources to ensure high quality service and maximum productivity. This includes designing and implementing new automated processes to streamline ALM, Loan, Budget, Investment & other Finance functions.
Prepare plans of action for investments and balance sheet based on financial analyses. Maintain investment portfolio information. Prepare projections on individual investments that may be considered for purchase.
Perform detailed financial statement analyses, including discussions on various issues.
Assist in the evaluation of assumptions for reasonableness and consistency. This includes model and financial assumptions (models include but not limited to ALM, Budget/Forecasting, Liquidity and financial assumptions include but not limited to Investments, Allowance and other material assumptions). Call to the attention of the VP those assumptions which appear to be unreasonable or inconsistent.

Benefits

A competitive salary
Generous paid time off
Health, dental and vision plans for employees and their families
Health Savings and Flex Spending Accounts
Short and Long Term Disability Programs
Parental Leave Programs
401K with employer match and potential for additional profit-sharing contributions
Paid volunteer days
Opportunities for career advancement and continuous learning and development and tuition reimbursement
Work/Life Balance Programs