Financial Planning and Analysis Director

Eastern Bank•Boston, MA

8d•$166,341 - $255,043

About The Position

The Director of Financial Planning & Analysis (FP&A) leads Eastern Bank’s financial planning, budgeting, forecasting, profitability reporting, and strategic financial analysis functions. The role serves as a financial advisor to the CFO, executive leadership, and business line executives, providing insight and recommendations to support growth, optimize returns, improve efficiency, and enhance shareholder value. The position reports to the Chief Financial Officer. The Director oversees the annual budget process, periodic forecasts, long-range financial planning, the Funds Transfer Pricing (FTP) framework, cost allocation methodologies, and profitability reporting. The role partners with business units, Treasury, Accounting, Risk Management, and Executive Management to support decision-making. It also leads Divisional Finance Officers, who report directly to this position and support business lines and corporate functions.

Requirements

Bachelor’s degree in Finance, Accounting, Economics, or a related field.
15+ years of progressive finance, FP&A, profitability, Treasury, or banking finance experience.
5+ years of leadership experience managing finance professionals and business partners.
Strong knowledge of banking financial statements, balance sheet management, profitability analysis, and the regulatory banking environment.
Experience with Funds Transfer Pricing (FTP), cost allocation methodologies, and profitability systems.
Experience supporting executive leadership, Board reporting, and strategic planning processes.
Advanced financial modeling and analytical skills, including scenario, sensitivity, and driver-based forecasting.
Expert proficiency in Microsoft Excel and PowerPoint.
Strong written and verbal communication skills, including the ability to translate complex financial analysis into clear recommendations for executive management and the Board.
Strong business acumen and strategic thinking, with the ability to influence and partner effectively across organizational levels.
Proven ability to lead change, build high-performing teams, and drive process improvement and automation.
High degree of integrity, sound judgment, and attention to detail in a regulated environment.
Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
Ability to work independently without close supervision and exercise sound judgment on complex budgeting, forecasting, and profitability matters.

Nice To Haves

MBA.
CPA, CFA, or other advanced financial designation.
Experience with enterprise planning and budgeting systems such as Axiom, Adaptive, Oracle EPM, or Hyperion.
Experience with business intelligence and data visualization tools such as Power BI or Tableau.
Working knowledge of SQL or data warehouse environments.

Responsibilities

Lead the annual budgeting process and ongoing financial forecasting activities.
Develop and maintain short- and long-term financial plans aligned with corporate objectives.
Monitor actual performance against budget and forecast, providing variance analysis and actionable recommendations.
Deliver monthly, quarterly, and annual financial performance reporting to Executive Management and the Board of Directors.
Identify financial trends, risks, and opportunities affecting business performance.
Partner with Executive Management to develop and execute the Bank’s strategic plan.
Evaluate strategic initiatives and growth opportunities through detailed financial analysis.
Perform sensitivity analysis to support strategic decision-making.
Develop financial projections supporting capital and tax planning and organizational growth objectives.
Provide leadership and oversight to Divisional Finance Officers.
Ensure consistency of financial reporting, planning, and performance measurement across divisions.
Establish financial performance metrics and accountability frameworks.
Mentor and develop finance team members and foster collaboration, continuous improvement, and business partnership.
Serve as the primary escalation point for complex financial analysis and strategic business support.
Oversee implementation of the Bank’s Funds Transfer Pricing methodology.
Partner with Treasury and Asset Liability Management teams to implement annual ALCO-approved assumptions and maintain assumptions for the Loan Profitability Model.
Present FTP performance, trends, and recommendations to senior and executive management.
Support profitability measurement through accurate attribution of net interest income and funding costs.
Lead enterprise cost allocation methodologies and governance processes.
Oversee activity-based costing and profitability measurement for business lines, customers, and products.
Evaluate expense management opportunities and operational efficiencies.
Provide transparency into cost drivers and profitability performance.
Ensure allocation methodologies are documented, supportable, and aligned with business objectives.
Develop executive dashboards, KPI reporting, and management scorecards.
Present financial results, forecasts, strategic analyses, and profitability insights to Executive Management, Management Committees, and the Board.
Strengthen financial analytics capabilities through process enhancements and technology utilization.
Provide insights into revenue growth, margin expansion, capital utilization, and expense management.
Ensure compliance with internal financial policies and regulatory expectations.
Support enterprise stress testing, capital planning, and strategic risk assessment activities.
Maintain strong internal controls related to planning, profitability, and management reporting processes.
Partner with Accounting, Finance, Treasury, Risk, and Operations to ensure data integrity and reporting accuracy.
Independently analyze complex or ambiguous financial matters, identify root causes of variances and risks, and develop practical, data-driven solutions.
Make timely, well-supported recommendations on strategic initiatives, expense management, and resource allocation under tight deadlines.
Escalate issues with material impact to the CFO.
Lead change, build high-performing teams, and drive process improvement and automation.
Manage multiple priorities and meet deadlines in a fast-paced environment.