Unclassified - Pawtucket, RI
posted 5 months ago
Coastal1 Credit Union is seeking to hire a Vice President Asset Liability Management & Profitability Manager. As a key member of the finance team, you will be responsible for overseeing the development of programs and/or models that evaluate the financial stability, risk management, and profitability of the credit union. This role is crucial in ensuring the credit union's financial health and involves leading and overseeing budgeting, forecasting, and stress test modeling as well as profitability studies. You will be tasked with developing programs and strategies to monitor and report on interest rate risk (IRR) and liquidity risk, executing strategies to mitigate both risks, and ensuring compliance with internal policy measures. In this position, you will act as a liaison to Darling Consulting Group, gathering and analyzing data that is used to develop and evaluate the organization's asset/liability management (ALM) strategy. You will generate accurate interest rate risk management reports, including gap and income sensitivity reports, and monitor the Credit Union's liquidity to ensure compliance with liquidity policies. Additionally, you will model cashflow stress tests, liquidity forecasts, and effective early warning indicators, while also monitoring and reporting on the creditworthiness of the Credit Union's depositories. Your role will also involve maintaining the data and assumptions used in the ProfitStars application to produce effective forecasting and budgeting models/reports. You will review and recommend modifications to the ALM/Interest Rate Risk, Liquidity, and Investment policies, incorporating industry, regulatory, and institutional changes. Effective communication of ALM objectives and achievements to senior management and the board of directors will be essential, as will coordinating ALM calendar/meetings and preparing meeting minutes. You will also assist in optimizing the mix of fixed-rate and variable-rate assets and liabilities to minimize interest rate risk and analyze funding sources to minimize costs while maintaining stability. Furthermore, you will support the CFO in designing and executing stress tests to evaluate the potential effects on the credit union's financial conditions from exceptional but plausible events.