The AVP, ACL – Manager – Allowance for Credit Losses (ACL) is responsible for the generation of the current expected credit loss (CECL) estimate process. During the implementation and testing phases of the CECL process, the incumbent will work with various stakeholders on the implementation efforts of an in-house solution as well as an external software solution used for calculating the overall ACL reserves for each entity. This will include User Acceptance Testing (UAT), documentation and ad-hoc requests. On a go-forward basis post implementation, the incumbent will be responsible for the calculation processes to ensure the accuracy of calculated ACL reserves. This includes ensuring the completeness and accuracy of data utilized in the calculation process, as well as ensuring the proper utilization of calculation tools. The position will also be responsible for the review and documentation of quantitative and qualitative factors, variance analysis, production of internal management reports and reviewing SEC reporting disclosures.
Essential Duties and Responsibilities:
- 20% – Review and evaluation of the ACL beginning to end process. Suggest and implement changes to the process and governance structure as needed.
- 20% – Drive assessment of the adequacy of the qualitative factors based on the analysis performed by credit and economic forecast stakeholders.
- 20% – Evaluate models and assess assumptions utilized in ACL calculations.
- 20% – Reporting – Prepare reports supporting the adequacy of ACL to stakeholders and schedules for SEC reporting.
- 10% – Assess data exceptions to determine implications on ACL process.
- 5% – Monitor effectiveness of key controls and exception reporting. Assist in resolving issues.
- 5% – Staff review and training.
- Bachelor degree or equivalent
- Relevant educational or work background that can be utilized in key accountabilities. Accounting, Statistics, Math, Finance, Programming and Systems, Economics, Data Analytics, and Modeling are relevant fields.
- Ability to perform multiple tasks simultaneously to meet strict deadlines.
- Competent writing and communication skills with the ability to prepare documentation, reports and presentations.
- Ability to work independently and in a team environment in collaboration with other team members and external consulting firms.
- Strong knowledge of Microsoft Office suite including Excel, Word, Powerpoint.
- Experience in data research and problem solving skills.
- Prior accounting work experience in ALLL and an understanding of the new accounting pronouncement related to Financial Instruments-Credit Losses (ASC 326) is desirable but not required.
- Understanding of modeling concepts