Senior CECL Analyst

Job Summary

The Senior Current Expected Credit Loss (CECL) Analyst position supports the Financial Accounting & Reporting Manager in meeting the objectives and goals of the Finance & Accounting Department. The Senior CECL Analyst will be responsible for the estimation and analytics of Allowance for Loan and Lease Losses (ALLL) under the current Incurred Loss Model and the new CECL allowance methodology.  The candidate should have advanced knowledge in Loan Accounting and CECL/ALLL. 

The Senior CECL Analyst will prepare the quarterly ALLL estimation and related analysis & documentation which will be reviewed by the Financial Accounting & Reporting Manager, Senior Financial Officer, executive management and internal/ external auditors. The position will have the ability to demonstrate initiative and commitment to achieving results with minimal guidance and supervision.

Essential Duties

• CECL / ALLL
  1. Responsible for the quarterly analysis of ALLL methodology and associated reporting packages, which includes the ALLL packet for the quarterly ALLL Committee meeting, ALLL report for Board Meeting, and documentation for the Annual Methodology Review. 
  2. Managing the development and maintenance of the CECL Model and all related calculations and reports; identify and resolve any model or data discrepancies. Will serve as the primary contact with the third party software vendor.
  3. Responsible for the documentation of the CECL model run results and assumptions which will be reviewed by senior management and internal and external auditors.
  4. Serve as an active member of the CECL workgroup by providing process improvement ideas, issue identification and resolution.
  5. Calculate, analyze, and communicate modeling behaviors and parameters (including Probability of Default, Loss Given Default, Discounted Cash Flow, and Migration Analysis) and how these translate into loss estimates.
  6. Identify and address potential process gaps or process improvements including: data model requirement, structure and use, policy governance and other quantitative tools. Effectively challenge the model’s conceptual soundness, assumptions, and appropriateness of model methodology.
  7. Design and implement internal test controls and documentation regarding ALLL calculations using Sageworks.
  8. Document and communicate model performance for internal and external stakeholders. 
  9. Develop clear, concise and easily understood presentations and written materials to convey the results of research and analysis projects to senior management and various risk committees.
  10. Prepare ALLL related schedules for the quarterly Call Report.
  11. Prepare the Bank’s annual financial disclosures related to Loans and ALLL.

• Accounting Operations
  1. Assist with the month-end closing process, including the reconciliation and certification of general ledger and other account balances.
  2. Prepare timely and accurate monthly financial reporting packages for the Board of Directors, Executive Management and Branch/Department Managers.
  3. Review and maintain relevant policy and procedures.  Ensure the F&AD’s compliance with them and other bank-wide applicable policies and procedures.
  4. Prepare timely & accurate completion of schedules and information requests in connection with financial, operational and regulatory audits.

• Systems
  1. Proficient in the Bank’s ALLL application, Sageworks ALLL.
  2. Experience in the Bank’s core system, JHA Silverlake
  3. Experience with report writer applications, such as Cognos and Sageworks preferred.
  4. Create and perform concise ad-hoc analysis and reporting, as required by the Financial Accounting & Reporting Manager, Senior Financial Officer, and Executive Management.
  5. High proficiency level in MS Office including: Excel skills, including pivot-tables, worksheet formulas, macros, array formulas, and other techniques
  6. Identify and implement various process improvement projects in accounting operations to support the Bank’s growth.

• Staff Assistance
  1. Assist and train staff members to ensure all tasks and duties are completed in an accurate and timely manner. 
  2. Assist in improving the accountability of the accounting team.

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. Acts as the control point for the office to ensure that all CIP, BSA, OFAC requirements, procedures and time frames are met.

Required Knowledge

• Working knowledge of US GAAP and concepts, specific to Loan Accounting & ALLL/CECL 
• Demonstrated understanding of databases with the ability to understand and manipulate large amounts of data.
• Highly proficient with Microsoft Excel
• Strong organizational skills with the ability to interact with senior leadership across all areas of the Bank to professionally deliver clear and concise analysis.
• Ability to manage multiple priorities effectively while meeting tight deadlines.
• Knowledge in Lending or Credit Administration
• Comprehensive practical knowledge of quantitative forecasting models, financial analysis techniques and methodologies. Strong understanding of credit risk, financial risk, operations risk and their processes.
• Knowledge of Loan Stress Test is a plus
• Strong verbal and written communication skills
• Strong problem-solving and decision-making abilities
• Strong attention to detail and accuracy
• Strong sense of ownership and able to deliver results within tight deadlines

Basic Knowledge, Skills and Abilities

• Customer service skills
• Telephone skills

Equipment Operated 

• Desk top computers
• Standard office equipment (copiers, fax machines)

Physical Requirements & Work Environment 

• Requires lifting of up to 25 lbs.
• Office setting w/controlled temperature

Education and Experience

• 7+ years of experience in accounting, financial analysis, lending or statistical modeling experience
• Banking or financial institution industry experience
• Bachelor’s degree in the field of Accounting, Finance, Risk Management, Business Administration or equivalent 
• CPA license preferred, but not required
• Public accounting experience or public company accounting experience preferred but not required
• Experience with Jack Henry’s Silverlake, Sageworks and Cognos preferred but not required

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.