APG Federal Credit Union Financial Analyst in Edgewood, Maryland
APGFCU – Your Community Credit Union! For over 80 years, APGFCU has shared our financial experience and provided valuable products and services to build stability and financial independence, one member at a time. We are looking for those who want to join this movement and become a part of a growing organization. We offer competitive pay and great benefits.
Under the direction of the VP – Accounting/Controller, prepares various financial reports for senior management and the Board of Directors that disclose the Credit Union’s monetary position. Analyzes the investments purchased to ensure that accounting for these investments is in accordance with Generally Accepted Accounting Principles (GAAP), to include the accounting for the income and expenses for all investment funds purchased and any short-term borrowings. Oversee the preparation and reporting for the annual noninterest operating income and expense budget to ensure its timely and accurate completion. Prepare Asset Liability Management (ALM) analyses. Function as a back-up for the VP-Finance as necessary with regards to preparing various monthly financial reporting and analysis. Other duties as assigned.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Investments: Responsible for all aspects of the accounting for the Credit Union’s investment program. Ensure that all investments are properly reported in the Credit Union’s financial statements and are in accordance with GAAP. Monitor the purchase, settlement, safekeeping and sale of investments. Receive notification of investment purchases and sales from CFO and/or VP-Finance. Direct the settlement thereof with the cash management desk and designated brokerage firm and confirm receipt of investments with the safekeeping agent. Verify accuracy and timely recordation of interest and/or dividend payments, premium/discount amortization, market adjustments, and any maturities/calls/payouts of all investments. Maintain investment database and reconcile to the general ledger on a monthly basis. Prepare investment related reports for management, the Board, and for regulatory reporting. Interpret application to the credit union for all existing, and any new investment related regulatory and GAAP requirements, and oversee implementation of those requirements accordingly.
Credit Union Budget*:* Maintain the Credit Union’s budget database software, consolidate the departmental budgets, implement changes as requested by senior management and prepare monthly budget-to-actual variance reports. Prepare various analyses, projections and/or impact studies utilizing economic forecasting to model and assess the effects of budget changes on the Strategic Plan. Train Credit Union managers on the operating budget process and the use of the budget software, and provide consulting services to managers during the budget process.
Branch Profitability and Productivity*:* Create and maintain numerous and complex spreadsheets in Excel used for statistical or financial reporting purposes. Prepare and distribute the monthly branch profitability and productivity reports to management. Branch profitability is reported to the Board quarterly.
Mortgage Servicing Rights*:* Interpret and analyze first mortgage sale transactions on the secondary market to ensure that the retention of the mortgage servicing rights is reported in the Credit Union’s financial statements in accordance with GAAP.
MORTGAGE ACCOUNTING:Determine the proper accounting for the deferral and amortization of loan origination fees and costs for real estate loans in accordance with GAAP. Prepare journal entries and reconciliations for mortgage-related accounts, including loans held-for-sale. Coordinate with the mortgage department to ensure proper accounting for all mortgage-related general ledgers.
Financial Planning and Analysis*:*This position serves as the primary back-up to the VP –Finance. As such, thorough knowledge must be acquired and maintained with regards to the Credit Union’s financial planning, measurement of results against plan, and reporting processes. In coordination with the VP – Accounting/Controller, assist the VP – Finance as needed to prepare financial plans and reports, and fill in during the VP – Finance’s absence to prepare reports and analysis as necessary.
Proforma Analysis*:*Prepare proforma financial analysis as assigned by the VP –Accounting/Controller. When the Credit Union is contemplating a product promotion, a new product, loan or deposit rate changes, etc., a proforma financial analysis is prepared to project the expected financial impact to the credit union. A thorough knowledge of the Credit Union’s products, excellent analytical skills, the ability to present the information in such a way as to be easily interpreted by others and to effectively communicate the methodology utilized and conclusions reached to others is essential.
Activity Based Costing Project: Maintain an understanding of the Kohl Advisory Group annual activity-based costing and product profitability management study process and results. Work closely with the Kohl representative to analyze results, research exception items and scrub data as necessary. Liaise between the consultant and management for presentation of results; analyze and follow-up on issues raised by management.
- Schedule and oversee required liquidity testing annually for FHLB, CLF, FRB Discount Window and any other sources of liquidity.
- Record, classify and summarize financial transactions and events in accordance with generally accepted accounting procedures.
- Reconcile monthly bank statements and general ledger accounts, and resolve any differences.
- Prepare all accounting transactions, yield-tests, reconciliations and reports for the loans held-for-sale function.
- Prepare monthly variance analysis to identify, investigate and explain unusual differences in income, expense and balance sheet accounts. Report findings to management.
- Prepare audit schedules and compile financial data for review by external auditors and regulatory examiners. Research and respond to inquiries in verbal and written form.
- Validate financial and statistical information from various systems and databases and/or other departments.
- Maintain current knowledge of general economic trends.**
EDUCATION: B.S. Degree in Accounting, Finance, or related field.
EXPERIENCE: Three to five years related experience and/or training; or equivalent combination of education and experience* *
KNOWLEDGE, SKILLS, AND ABILITIES: Broad knowledge of general and investment accounting. Thorough understanding of organizational, budgeting concepts and reporting. Ability to compile and analyze financial plans and measure results. Ability to interpret accounting data. Ability to make effective oral and written presentations. Personal computer use with proficiency in Excel spreadsheets and database management. Independent working and organizational skills.
*APGFCU is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability to Protected Veteran status. Please use the attached link to view the EEO law poster *http://www1.eeoc.gov/employers/poster.cfm
APGFCU is committed to working with and providing reasonable accommodations to persons of all abilities, including persons with disabilities. If you need a reasonable accommodation for any part of the employment process, please send an email to the Human Resources Department and let us know the nature of your request and your contact information. Reasonable accommodations are considered on a case-by-case basis. Please note that only inquiries concerning a request for reasonable accommodations will be responded to from this e-mail address.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information.
Posted: June 14, 2018