Asset Liability Analyst I

How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community?  Provident is a successful and highly regarded multi-billion-dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York.  Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do.  At Provident Bank, we are committed to enhancing our customer and employees’ experience. 

POSITION OVERVIEW:

Under general direction, this position role is to assist the Asset Liability Manager in maintaining and processing the Asset Liability Model, preparing presentations to ALCO and recording the minutes of the meetings.  Assists in the analysis of loan and deposit pricing and prepare various management reports. This position is working at the entry level and is considered as a professional in this field of expertise.  Incumbent is expected to have a basic knowledge of financial analysis as applied to Asset Liability Risk Analysis.  Exercises analytical skills and independent judgment within established systems and procedures.

KEY RESPONSIBILITIES:

• Ensures that the asset/liability simulation software and relative systems are functioning properly and coordinates any updates or changes to the system.
• Ensures proper backups are performed and disaster recovery plans are up to date and in force.
• Assists in the preparation of the current position data and forecast assumptions for the asset liability, capital and liquidity stress testing models.
• Test the assumptions for validity to ensure that a viable model is maintained and appropriate results are generated. This includes rate forecast, cash flow or prepayment, rate spread, and balance sheet growth assumptions.
• Assists in running a variety of simulations in the model on a monthly basis for the purpose of strategy development and interest rate risk measurement and management.
• Assists in preparing a presentation package to the ALCO and Pricing committees.  Attends monthly ALCO and Pricing meetings, records and distributes the minutes.
• Reviews and updates the model documentation and procedures for the asset liability, capital and liquidity stress test models.
• Participates in various special tasks and projects as requested by management including preparation of various department reports.

MINIMUM QUALIFICATIONS:

• Bachelor’s degree in Finance or Accounting
• 1 to 3 years experience in a financial services or banking industry
• Familiar with asset liability management software.  Proficient in Excel and Word.
• Ability to apply generally accepted accounting principles.
• Ability to understand economic concepts.
• Ability to analyze and interpret financial information
• Ability to define problems, collect data, establish facts and draw conclusions.
• Ability to work with mathematical concepts such as probability and statistical inferences and apply concepts.
• Excellent communication skills.

WORKING CONDITIONS:

Work is performed in a normal office environment. Noise levels are usually moderate. This position involves travel to customers and property locations.

• Prolonged sitting
• Lifting from 5 to 10 lbs. (printer paper, storage boxes)
• Occasional bending or overhead lifting (storing files or boxes)
• The hazards are mainly those present in a normal office setting

This job description may not be all-inclusive.  Employees are expected to perform other duties as assigned and directed by management.  Job descriptions and duties may be modified when deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here. 

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.

Pay Details:

$51,200 - $73,200 annually

Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs. 

This role is incentive eligible based upon company, business, and/or individual goal achievement and performance.

Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.