Financial Planning & Analysis Officer

Job Summary

The Financial Planning & Analysis Officer will lead the Bank’s financial forecasting process including projected income statement, balance sheet and key performance ratios and summarize results for Executive management and the Board of Directors.

The Financial Planning &Analysis Officer will collaborate with all levels of management and departments to obtain the most accurate inputs while ensuring the financial results represent the strategic goals of the Bank. This position will also provide regular, timely and accurate financial reporting to inform management on key drivers of profitability and financial ratio analyses.

This position requires in-depth knowledge of accounting principles and concepts, banking operations, information systems, and forecasting/ budgeting applications. The Financial Planning & Analysis Officer is expected to take ownership of their essential duties and work independently with minimal guidance. This position must be a team player in a collaborative setting within a dynamic work environment.

Essential Duties

Financial Forecasting

• Prepare monthly financial forecasts (income statement, balance sheet and key performance ratios) and prepare presentations for Senior Management and the Board of Directors (BOD) communicating results.

• Collaborate with department managers and senior management bank-wide to obtain assumptions to be used for financial forecasting and determine if they are reasonable, accurate and have integrity.

• Work with Asset Liability Management team, to compare financial forecast and assumptions.

• Develop financial models and tools to support strategic decision-making and business planning initiatives.

• Prepare the financial forecasts for the Bank’s 5-year Strategic Plan, including various scenarios and documenting assumptions and analysis of results.

• Serve as member of implementation team to execute a new forecasting/budgeting software solution, including design, testing, and maintenance, monitoring and reporting.

• Prepares inputs to run financial model and validate model’s output.

• Analyze financial performance metrics and key performance indicators (KPIs) to identify trends, variances and opportunities or improvement.

• Create proforma financials for the proxy statement and other projects/ financial scenarios as needed.

Budgeting

• Assists in the development and coordination of the annual budget process and the creation of budget reports, including establishing financial assumptions and critical decision variables.

• Prepare monthly reporting analysis of income statement results including researching variances and drivers of performance.

• Produce budget variance reports, explain and monitor variances, and assists department managers with research as needed. Follow through with completion of the variance explanations.

• Participate in continued improvement of the budget and planning system.

Liquidity Risk Management

• Monitor the Bank’s liquidity daily; prepare/ review various reports for ongoing monitoring to ensure compliance with internal policies and external regulatory limits.

• Manage correspondent banking relationships; review each banking relationship to ensure compliance with policy limits and communicate to management any concerns.

• Serve as the primary liaison for the Bank’s correspondent banking relationships.

Other

• Update department policies and procedures annually or as needed.

• Assist with special projects, reports analyses and recommendations in areas such as budgets, audits, forecasts, financial planning, statistical reports, and business forecasts for management.

• Run complex models, reports and/or programs; develop new applications as needed.

• Executes ad-hoc analysis and other requests as needed with minimal supervision.

• Responds to internal and external audit requests as well as regulatory requests.

• Comply fully with all Bank policies and procedures, as well as regulatory requirements.

Complies with all State and Federal Banking regulatory requirements, including but not limited to: BSA, Anti-Money Laundering OFAC, CIP, Financial Elder Abuse Reporting, Sexual Harassment, Information Security and privacy requirements. This position will elevate suspicious activity to supervisory staff and/or BSA department. Completes compliance and other technical training workshops as assigned.

Basic Skills and Abilities

• Strong analytical, problem solving, documentation, and organizational skills

• Excellent verbal and written communication skills. Ability to communicate complex analytical issues in understandable terms appropriate for internal and external stakeholders

• Strong interpersonal skills in order to work effectively with personnel inside and outside of the department

• Strong attention to detail and accuracy

• Ability to work independently and as a team in a collaborative setting within a dynamic work environment

• Must be able to manage multiple tasks and set priorities and handle multiple priorities

• Must be a self-starter and dependable with strong organizational skills

• Analytical thinker who detects problems and errors in a timely manner

• Ability to learn quickly, asks questions, takes instruction constructively, and be flexible in doing assorted tasks

• Possess good judgment and ability to accept responsibility

• Willingness to assume additional responsibilities/ duties/ projects as they arise

Officer Title Eligibility

For qualified positions, the Bank may designate an Officer Title to an employee who seeks and/or meets defined competencies for an eligible position. This position qualifies for the officer title(s) Assistant Vice President, Vice President.

Required Knowledge

• Advanced knowledge of generally accepted accounting principles (GAAP) and concepts, including the ability to produce complete financial statements

• Advanced Excel and Word skills

• Advanced proficiency in financial modeling

• Intermediate to advanced knowledge of banking operations and products

Preferred Knowledge

• Experience with Oracle PBCS/ERM/ Hyperion, Planning and Budget Cloud Services or other similar applications

• Knowledge of banking software applications such as Jack Henry Silverlake

• Intermediate level experience with query report writers such as Cognos

Equipment Operated

• Telephone

• Desk top computers

• Standard office equipment (copiers, fax machines)

Physical Requirements & Work Environment

• Professional attire required

• Requires sitting for prolonged periods of time

• Requires lifting of up to 25 lbs.

• Office setting w/controlled temperature

Education and Experience

• Bachelor degree from a four-year college or university in Accounting, Finance, Economics, Business Administration or related area

• CPA license or MBA preferred, but not required

• Experience with implementing a new budgeting software solution

• A minimum of 10 years of related and progressive work experience in a banking environment

As a part of the Bank’s internal control systems, employees holding sensitive positions are required to be absent from their duties for a minimum of two consecutive weeks each year. This position has been deemed to meet the test for a sensitive position, and therefore you will be required to meet the minimum absence requirement each and every year.

This job description is not intended to be all-inclusive, and employees will be required to perform additional related work duties as assigned by their immediate supervisor and/or management.

Farmers and Merchants Bank of Long Beach reserves the right to revise or change job duties and responsibilities as the need arises. This job description does not constitute a written or implied contract of employment.