AVP, Finance – Allowance for Credit Losses

Wintrust Financial Corp; Chicago (IL); On-site; USD 85,000 - 110,000; Full time

Benefits offered by this job

Medical Insurance

Dental

Vision

Life insurance

Accidental death and dismemberment

Disability Insurance - short/long term

Parental Leave

Employee Assistance Program (EAP)

401(k) with company match (Traditional

401(k) with company match (Roth)

Flexible Spending Account (FSA)

Employee Stock Purchase Plan (5% off)

Critical Illness Insurance

Accident Insurance

Transportation and Commuting Benefits

Banking Benefits

Pet Insurance Compensation

Job summary

Wintrust Financial Corporation seeks an AVP - Allowance for Credit Losses (ACL) to lead the CECL estimate process, validate data quality, and oversee ACL reporting and disclosures. The role requires coordinating with internal teams and external auditors to ensure accurate reserves and regulatory compliance.

You will supervise data movement, variance analysis, and reporting packages, while preparing SEC disclosures for earnings releases and 10-Qs.

Qualifications

• 5-7 years of experience and/or educational background in Accounting, Statistics, Math, Finance, Economics, Data Analytics, and Modeling.
• Strong written and verbal communication; able to prepare documentation, reports, and lead presentations.
• Proficiency with Microsoft Office (Excel, Word, PowerPoint) and BI tools like PowerBI.

Responsibilities

• Possess proficient understanding and effectively utilize ACL software solutions.
• Oversee data movement, reconciliations, inputs, and variance analysis in ACL processes.
• Lead ACL packages, prepare SEC disclosures, and coordinate with internal/external stakeholders.

Skills

Accounting

Statistics

Mathematics

Finance

Programming

Data Analytics

Modeling

Economics

Tools

Microsoft Excel

PowerPoint

PowerBI

Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol “WTFC.”

Why join us?

An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 12 years) and Employee Recommended award by the Globe & Mail (past 6 years). Competitive pay and discretionary or incentive bonus eligible. Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few. Family-friendly work hours. Promote from within culture. Why join this team? We provide a vibrant, team-oriented atmosphere with opportunities for individual growth through collaboration with other departments and exposure to executive management. We are seeking a critical thinker with the ability to analyze and adapt to emerging risks and regulatory changes. Further your career by playing an important role in a growing organization.

Position Summary

The AVP - Allowance for Credit Losses (ACL) is an integral/key role in the generation of the current expected credit loss (CECL) estimate process. This individual will be responsible for completing certain tasks and reports within 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 review and document quantitative and qualitative factors, review variance analysis, review production of internal management reports, lead compilation of ACL packages, and prepare SEC reporting disclosures for Earnings Release and 10Q.

What You’ll Do

Possess proficient understanding with the ability to effectively and efficiently utilize software solutions utilized in the ACL process. Will be responsible for oversight of data movement, reconciliations, assumption inputs, variance analysis, waterfall configuration and review, training and supervision of others to utilize features within the solution, etc. Analytically review ACL results and variance analysis; requires collaborating with internal stakeholders and consultants or other outside third parties to understand the key inputs into models and their impact on results by credit and economic forecast stakeholders. Create, review, and distribute data and reports provided to internal management as well as required reports for external auditors and regulators, including the ACL Committee. Lead ACL business line working group meetings. Prepare SEC Reporting disclosures for external filings. Review documentation of all processes and procedures. Assist other employees in understanding all processes and procedures. Ad-hoc projects as required.

Qualifications

5-7 years of experience and/or educational background in Accounting, Statistics, Math, Finance, Programming and Systems, Economics, Data Analytics, and Modeling. Strong written and verbal communication skills with the solid abilities to prepare documentation, reports, and lead presentations. Strong knowledge of Microsoft Office suite including Excel, Word, PowerPoint. Knowledge of PowerBI or other BI tool desired. Experience in data research and problem-solving skills. Prior accounting work experience in allowance for loan and lease losses and an understanding of the new accounting pronouncement related to Financial Instruments-Credit Losses (ASC 326).

Benefits

• Medical Insurance
• Dental
• Vision
• Life insurance
• Accidental death and dismemberment
• Short-term and long term Disability Insurance
• Parental Leave
• Employee Assistance Program (EAP)
• Traditional and Roth 401(k) with company match
• Flexible Spending Account (FSA)
• Employee Stock Purchase Plan at 5% discount
• Critical Illness Insurance
• Accident Insurance
• Transportation and Commuting Benefits
• Banking Benefits
• Pet Insurance Compensation

The estimated salary range for this role is $85,000-$110,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills and experience.

From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success.

Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.

Wintrust may collect personal information from you in connection with the application process. Wintrust complies with the California Consumer Privacy Act of 2018, and its policy may be found here Click here for Equal Opportunities.