The Financial Analyst II is responsible for maintaining the Budget System and provides support in the processing, review and follow-up of the budgets, including other income projections, cost analysis of operating units and expenses supporting business lines.
Some of the activities require getting familiar with the Profitability section of the department, assisting the Profitability manager when necessary, and collaborating closely with its members.
Duties and responsibilities include:
- Knowledge of the Budget Process of a Bank. Accountable for already understanding the components that make up a budget and of the processes completed by a Budget Department; and its execution with sufficient know-how to assist on improvements to the process.
- Sufficient knowledge to understand and explain the minimum functionalities that a budget system should incorporate. Able to complete self study of new systems, as necessary.
- Versed on all areas of the balance sheet and income statement of a Bank, at a level that allows the analyst to understand the modeling variables incorporated within a budget system.
- Basic knowledge of general ledger consolidation, depreciation expense budgeting, deferred fees and accrued expense accounting. Also, knowledge of investment classifications and accounting, loan allowance, and loan, deposit and capital composition.
- Able to identify drivers and sources of drivers, to combine quantity with pricing, for optimal budgeting of Operating Expenses and Other Income within a banking environment
- Participate in preparing budgets, forecasts and rolling forecasts, as well as 5 years projections, for Holding companies, Bank, and its subsidiairies, utilizing Financial Planning System and/or Excel to model, with main focus on Other Income and Other Expenses.
- Assist providing direction and technical know-how to Division Managers and Virtual Managers in the process of creating their operating expenses and other income budgets.
- Monitor Other Expenses and Other Income Monthly Actual vs. Budget results for the various units and companies. and analyze deviations
BANK’S PEER ANALYSIS
- Work directly with the FP&A Manager to maintain a quarterly analysis of South Florida Peer Banks.
- Assist the department managers and/or a Senior Financial Analyst on maintaining an in-depth Quarterly Peer analysis to benchmark AMTB in different areas of profitability, operating efficiency, asset quality and capital solvency. Study Peer Banks Call Reports and Annual Reports to identify loan and deposit portfolio mix compositions, yields, cost structure, headcount, etc.
- Prepare a quarterly comparative rate-volume analysis vs. peer banks to understand and to keep track of main differences in volume mix, yield and average terms.
- Identify areas of improvement for the Bank and perform ad-hoc analyses and proposals to improve MBNA profitability and efficiency.
- Prepare a Peer trend analysis to understand evolution of their Net Interest Margin and Operating Efficiency.
- Participate with third parties (i.e. Cornerstone) in Banking Benchmark studies related to areas of cost and headcount structure, profitability and efficiency.
PROFITABILITY REPORTING AND COST MANAGEMENT
- Support in the preparation, analysis and presentation of financial results by business units, products, and customers to the Board of Directors, Executive Committee, and Senior Management on a quarterly basis and to ALCO Committee on a monthly basis.
- Participate as needed in future phases of additional modules implementation and corresponding deployment to end users of AXIOM EPM (Enterprise Performance Management software solution).
- Measure the Bank’s products and customer profitability and prepare product/customer profitability/ranking reports to be presented to Relationship Managers and Senior Management on a periodic basis.
- Measure actual and budgeted performance of individual officers, business units and divisions on a monthly basis.
- Participate in the process of interviewing and defining the main activities for each Product Support Center.
- Participate in the definition of the main cost drivers and calculation of activity-based costing.
- Update and maintain Activity-based Standard Costing (ABC) Methodology.
- Review and analyze monthly expense variance reports for product support centers as per activity-based costing process. Monitor standard costs on a periodic basis, and make adjustments if necessary to reflect organizational changes, new products, or changes in processes.
- Maintain and update all statistical data to be imported into the profitability system on a monthly basis.
- Analyze the quality of the statistics received to ensure that the data loaded into the systems is accurate and timely.
- Develop and maintain appropriate databases and statistical reports.
- Prepare monthly loans and deposits volume reports.
- Perform monthly variance analysis by business segment.
COST-BENEFIT ANALYSIS & SPECIAL PROJECTS
- Perform other related analyses, projects and presentations as required by Senior Management, on a timely basis, meeting timelines.
- Ensure preventive measures are carried out to fully comply with current rules, regulations and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC and other AML related issues
- To identify, evaluate, monitor and make any recommendation deemed necessary to their respective Risk Management Committee in order to assess, reduce, eliminate or control any current or prospective risks to earnings or capital arising from violations of, or nonconformance with, laws, rules regulations, prescribed practices, internal policies and procedures or ethical standards.
- Assist in the preparation and maintenance of the Incentive Compensation Grid System
- Participate in the formulation, evaluation and control of capital investment project proposal (CAPEX)
- Participate in the semi-annual inter-company fees calculation to be charged to affiliates following Regulation W guidelines.
- Participate in the annual loan origination cost (FAS 91) calculation.
- Participate in special requests for efficiency and profitability studies and analyses.
- Perform various ad-hoc analyses
Minimum Education and/or Certifications Requirements:
Bachelor’s Degree in Finance, Accounting or Business.
Minimum Work Experience Requirements:
3+ years of relevant experience in banking with a focus on balance sheet, financial margin, operating expenses and other income Budgeting, as well as financial modeling
Technical and/or Other Essential Knowledge:
Knowledge of financial budgeting/modeling software similar to: SAP Budget System, Sungard BDI, Fiserv MPC, Fiserv ALM, AXIOM EPM
Proficiency using Microsoft Office 365 products including MS Word, MS Excel, MS Teams, and MS PowerPoint