POSITION: MANAGER ALLOWANCE FOR CREDIT LOSS ANALYSIS
Responsible for performing credit risk analysis and computation of the Allowance for Loan & Leases Losses (ALLL) and other credit losses and overseeing and maintaining the software systems supporting the calculations and analysis. This position serves a critical role in reviewing data, performing analysis, and completing documentation for the determination and reporting of allowance for credit losses. The position will also serve as the project manager for the Current Expected Credit Loss CECL implementation. Support the Credit Risk Department in loan portfolio stress testing, modeling and setting metrics and researching deviations from metrics.
Key Result Areas:
- Project manager for the CECL Implementation.
- Work with CECL Committee to set and achieve project goals for the next two years through 2023.
- Coordinate with other Committee members and contributors in loan loss modeling selection and development.
- Coordinate implementation with third party software vendor identifying and researching models and data integrity issues.
- Along with the e Chief Financial Officer (CFO) and Chief Risk Officer (CRO) manage the project and obtain consensus on project direction and decisions.
- Responsible for all aspects of the Allowance for Loan & Lease Losses and other credit loss computations and reporting.
- Oversee and manage the monthly and quarterly analysis of ALLL and other credit loss methodology and associated reporting packages.
- Routine development and execution of statistical, credit, and financial analysis to support quantitative and qualitative factor reviews.
- Manage the on-going process and documentation of vendor default models and maintain a CECL compliant ALLL process.
- Ensure high quality model run documentation and controls.
- Continue the development and maintenance of the CECL Model and all related calculations and reports.
- Creation and thoughtful presentation of loan portfolio analytics and relevant macroeconomics trends.
- Management responsibility for a Data Analyst, staff assessment and planning, performance evaluation and compensation.
- Oversee the development, running and management of stress testing model(s) for all lending areas as well as any other assets or liabilities with potential exposure to significant changes in market or economic value.
- Assist with the establishment of Limits and Metrics employed to monitor and manage the business and its portfolios.
- Assist in the development of various analytical risk reports and studies on the various components of the loan portfolios, other business lines or corporate related activities.
- Make recommendations for process improvements, simplifications, and standardization.
- Establish and maintain effective working relationships with senior managers and other employees and customers.
- Contribute to the effective team management of all Bank problems, issues and opportunities.
- Perform additional duties as required.
- Bachelor's degree in a quantitative or business field of study (i.e., Accounting, Business, Economics, Finance, Mathematics, Statistics, computer science), graduate degree is a plus.
- 3-5 years in a progressively responsible position as a modeler or risk analyst with a background in credit risk and loan loss reserve modeling, Candidates with a strong accounting and financial reporting background will also be considered. Prior CECL compliant bank experience strongly desired.
- Experience writing and presenting statistical findings and analysis.
- Understanding of reserve principles, including FAS5 / ASC450, FAS114 / ASC310, and CECL / ASC326, as well as regulatory guidance pertaining to reserves and model governance is desired.
- Minimum of 1-2 years' experience in a supervisory capacity is preferred.
- Thorough understanding of regulatory requirements for risks and controls including risk. governance, risk measurement, monitoring and reporting.
- Proficiency in Excel (i.e. Pivot Tables, VLOOKUP, macros, array formulas. And other techniques) and data integrity.
- Proficiency in data processing and ability to synthesize and manipulate raw data from various systems and sources.
- Effective communication and writing skills.
The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.
About Cambridge Savings Bank:
Cambridge Savings Bank is a full-service financial institution with approximately $5 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Melrose, Newton, and Watertown.
Cambridge Savings Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.