Sr. Associate, Third-Party Financial Risk & Due Diligence

Community Federal Savings Bank • New York, NY

11d • $110,000 - $120,000

About The Position

CFSB is a leading fintech-focused bank committed to maintaining the highest standards of corporate governance and ethics. We are dedicated to ensuring the integrity and reliability of our supply chain and third-party relationships. To achieve this, we are seeking a highly motivated and detail-oriented individual to join our team as a Senior Associate, Financial Due Diligence Reviewer.

As a Sr. Associate, Third-Party Financial Risk & Due Diligence, you will play a critical role in assessing the risk and compliance of our third parties by evaluating both their business operations and financial performance. This individual is responsible for assessing the Bank’s third-party relationships to ensure their financial position, risk mitigants, etc., align with the Bank’s overall Strategic Plan and the Bank’s Risk Appetite Statement. In addition, this individual will undertake various activities including performing financial accounting due diligence on the Bank’s fourth-party vendors and third-party relationships, analyzing historical financial results, forecasting, generating financial statements and sensitivity analysis models, making recommendations, preparing presentations, and reports for relevant committees.

Requirements

• Demonstrated expertise in financial statement analysis and identification of financial risks.
• Working knowledge of US GAAP, audit opinions and SEC reporting requirements.
• Strong understanding of accounting and financial processes.
• Advanced accounting, finance, financial modeling, and analytical abilities.
• Familiarity with financial services industry risks and regulations.
• Familiarity interpreting financial auditors’ reports.
• Ability to present complex analy
• Proficient in Microsoft Office Suite (Word, Excel, PowerPoint) or related software.
• Capability to work independently and collaboratively in a team environment.
• Excellent verbal and written communication skills.
• Strong interpersonal skills.
• Bachelor’s Degree in Accounting, Finance, Economics, Business Administration, or related field.
• Minimum of 4+ years of demonstrated experience in financial audit, accounting, finance due diligence or finance
• Relevant Finance certifications (i.e., FRM, CPA, etc.).

Nice To Haves

• Experience in the FinTech industry is a plus.

Responsibilities

• Conducting comprehensive financial due diligence reviews of the Bank’s existing or prospective third parties by identifying and evaluating financial risks through detailed analyses of financial statements and cash flows, benchmarking against industry standards, performing going concern assessments, and assessing third parties’ ability to repay annual debt service.
• Analyze detailed financial statements information including income statement, balance sheet, cash flow statement, key performance indicators, and operational data.
• Conduct in-depth financial analytics and synthesize information into actionable insights to facilitate discussions with the Bank Committee.
• Evaluating key financial metrics and accurately assigning risk ratings in accordance with the Bank’s financial risk assessment methodology.
• Manage collaboration with the Bank’s external stakeholders regarding any identified or escalated key financial issues, determining the need for more thorough investigation or additional information required.
• Manage collaboration with the Bank’s Third-Party Governance & Oversight team to develop third-party remediation plans and evaluate the status of remediation efforts for compliance.
• Collaborate with the Bank’s Third-Party Governance & Oversight team and manage ongoing monitoring of financial risks associated with third-party relationships. This includes timely identification of emerging financial risks to facilitate appropriate risk management, ensuring compliance to Third-Party agreements and minimizing potential financial losses.
• Provide oversight into the financial positions of the Bank’s third-party relationships, including conducting annual reviews and preparing interim update memos for the Third-Party Oversight Committee, among other responsibilities.
• Assist in preparing reporting data on the status of third-party due diligence reviews, identified conditions within third-party relationships and other relevant information to the Bank Committee.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level