Interest Rate Risk Manager

Employer
Fulton Bank
Location
Lancaster, Pennsylvania
Posted
Jan 25, 2024
Closes
Feb 24, 2024
Specialty
Accounting, Finance
Type
Full Time
Level
Experienced
Education Level
4 Year Degree

 


Requisition ID: 2023-19692
Category: Finance/Accounting
# of Openings: 1
Position Type (Portal Searching): Full-Time
Corporate Headquarters
Lancaster
FLSA Status: Exempt

Value Proposition

Our values define us and our culture inspires us to change lives for the better. Our employees are the heart and soul of our company, and every success we experience begins with them. Together we are committed to making a positive impact in our local communities. We champion a culture of continuous learning, work-life integration, and inclusion. We promote a digitally enabled work environment to continuously enhance the experience of our employees and customers.



Overview

The primary responsibility of this role is to prepare the Bank's interest rate risk (IRR) profile through heavy involvement in the day-to-day identification, measurement, monitoring, and controlling of interest rate risk. The incumbent in this role will serve as a mentor to the Asset Liability (AL) team and will collaborate with Treasury management to develop enhanced reporting, conduct risk and control assessments, and ensure a sustainable risk strategy/framework exists for maintaining satisfactory levels of market risk as outlined within the Bank's Risk Appetite Statement. This incumbent is also responsible for oversight, trends, and risk exposure, including development and maintenance of policies, procedures, and control limits, and will work collaboratively with Treasury management to help formulate the Bank's forward-looking approach to interest rate risk management as the organization grows and is subject to increased regulatory requirements.



Responsibilities

  • Establish, maintain, and continuously enhance a well-defined asset liability management (ALM) process to manage the bank’s interest rate and other market risks. Ensures data integrity and logic of output/results. Assesses and develops best practices for a robust IRR framework and sophisticated simulation abilities for earnings at risk, economic value of equity, gap analysis, etc. Ensures models are functioning as expected, troubleshoots, and reports on unexpected/undesired results. Identifies opportunities to enhance ALM risk measurement and reporting. Responsible for overseeing model upgrades, testing, and documentation. Oversees the internal loan prepayment, deposit decay, and deposit price sensitivity studies as well as annual assumption sensitivity testing and BancWare model backtesting. Responsible for managing model validations and for the validity of all assumptions and behaviors in the BancWare model.
  • Responsible for funds transfer pricing (FTP) modeling, analytics, and reporting. Develops best practice guidance and framework for FTP methodology and effectively communicates it to all stakeholders.
  • Reviews reporting prepared by the AL team for the Asset-Liability Committee (ALCO), including net interest income (NII) and economic value of equity (EVE). Identifies trends and areas of focus. Communicates in both writing and in person to ensure management stays informed of emerging risks and developments. Prepares and/or reviews presentations for ALCO, earnings calls, and board meetings for accuracy and completeness and makes recommendations as needed.
  • Supports the Treasury team with cash flow modeling, liquidity contingency funding plan and stress testing, and capital stress testing. Assists in assessing the logic and design of scenarios and assumptions used in liquidity risk stress testing and the Bank’s contingency funding plan. Prepares documentation that provides clear and accurate descriptions of assumptions.
  • Represents the Bank in interactions with regulators. Monitors the regulatory environment, conducts applicable research, and makes recommendations for responding to emerging/changing regulatory requirements. Also coordinates and communicates with internal audit and model risk management to ensure proper governance and control, as well as to provide effective challenge. Manages and oversees the timely resolution of all findings.
  • Assists Treasury management with ad-hoc projects and analysis in order to inform and support business decisions. Discusses findings with management and offers recommendations.
  • Maintains documentation, procedures, and authorized signatures to meet current requirements for audit, regulatory, and SOX. Works closely with operational departments to ensure timely and accurate resolution of any data discrepancies.

 



Qualifications

Education

Bachelor Degree or the equivalent experience. Specialty: Finance, Economics, Mathematics, or equivalent. (Required)

Master Degree or the equivalent experience. Specialty: MBA, MS in Finance, or equivalent. (Preferred)

Required Experience

  • 10 or more years banking or financial services.
  • 7 or more years Asset Liability Management and Financial Modeling.
  • 3 or more years FIS BancWare Asset Liability Modeling Software (or other similar system used for interest rate risk management).

Preferred Experience

  • 2 or more years supervisory/management experience. (Preferred)

Knowledge, Skills, and Abilities

  • Advanced Excel skills a must; intermediate PowerPoint and Word required.
  • Strong quantitative, analytical, and technical skills and aptitude to build advanced financial models. SQL, Power BI, SAS, or Python a plus.
  • Initiative and Innovation: Able to prepare for problems or opportunities in advance, undertake additional responsibilities and respond to situations as they arise without supervision, challenge conventional practices, pursue ongoing system improvement, create novel solutions to problems and evaluate new technology as potential solutions to existing problems.
  • Quality and Attention to Detail: Establish high standards and measures with the ability to maintain them despite pressing deadlines, inspect work products for flaws, test new methods thoroughly, reinforce excellence as a fundamental priority, follow detailed procedures and ensure accuracy in documentation and data and organize and maintain a system of issues.
  • Planning, Prioritizing & Goal Setting: Able to prepare for emerging needs: manage multiple projects, determine project urgency in a meaningful and practical way and organize and schedule people and tasks.
  • Spoken and Written Communication: Able to effectively explain analysis, both verbally and in writing, to others and translate analysis into business impact, read, interpret, and convey difficult technical information, listen well, write clearly and document activities.
  • Flexibility: Able to remain open-minded and change opinions on the basis of new information, perform a wide variety of tasks and change focus quickly as demands change, manage transitions effectively from task to task.
  • Relationship Management & Leadership: Able to lead in thought and action, build senior leadership confidence and add organizational value, develop rapport with others and recognize their concerns and feelings, build and maintain long-term associations based on trust; help others and promote associate development and develop bench-strength.
  • Problem Solving: Able to research and analyze problems and identify solutions, focus on process rather than isolated events, be systematic in identifying trouble spots, and take action in solving problems while exhibiting judgment and a realistic understanding of issues.

 



This role may perform other job duties as assigned by the manager. Each employee of the Organization, regardless of position, is accountable for reading, understanding and acting on the contents of all Company-assigned and/or job related Compliance Programs, regulations and policies and procedures, as well as ensure that all Compliance Training assignments are completed by established due dates. This includes but is not limited to, understanding and identifying compliance risks impacting their department(s), ensuring compliance with applicable laws or regulations, and escalating compliance risks to the appropriate level of management.

 

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