Financial Accounting Analyst

BHI; New York (NY); On-site; USD 70,000 - 90,000; Full time

Job summary

A leading financial institution is seeking a Financial Accounting Analyst to support the Finance team. This role involves creating management reports, assisting with budgeting and forecasts, and preparing hedge accounting reports. Candidates should have a Bachelor's degree in Finance or Economics, along with 3-5 years of experience in financial analysis and modeling. Proficiency in Microsoft Excel and strong analytical skills are essential for success in this position. Join a dynamic team in New York and contribute to impactful financial operations.

Qualifications

• 3-5 years of work experience in financial analysis and modeling.
• Understanding of banking products like bonds and loans.
• Ability to analyze profit and loss and balance sheet statements.

Responsibilities

• Create and maintain management reporting.
• Assist with budgeting and forecasting processes.
• Prepare monthly hedge accounting reporting.
• Identify operational procedures for improvement.

Skills

Attention to Detail

Financial Analysis

Data Analysis

Microsoft Excel

Problem Solving

Education

Bachelor's degree in Finance or Economics

Tools

Treasury system

Job description

We are seeking a Financial Accounting Analyst to join our dynamic and collaborative Finance team. This role will bridge our core accounting functions and assist with management reporting & analysis. This role will report to the Controller of the Bank and will play an active role in the general accounting operations of the Bank.

Responsibilities will include: the review and production of financial management reporting; developing the branch’s yearly financial budgeting and forecasting process, and working on ad-hoc analyses using financial models to prepare reports and review data and trends to identify meaningful activities and issues.

Main Duties and Responsibilities

• Create, maintain and update branch management reporting including:
• Monthly expense reports (branch and department level)
• Relationship Profitability reports (officer, customer, department, business line)
• Head Office reports (MIS and other)
• Assist with the budgeting and forecasting process for the branch:
• Work with division executives to collect forecasting assumptions
• Compile all data in a clear and organized way
• Forecast all aspects of the business (balances, expenses, revenue, etc.) and document business assumptions around future budgeting and forecasting.
• Research, identify and provide input to the design of key business intelligence and reporting metrics.
• Delivery of timely and high quality ad-hoc reporting as required by management. Manage and complete special projects as assigned.
• Preparation of the monthly hedge accounting reporting, amortization of premiums / discounts and accounting for the termination of hedge relationships.
• Identify operational procedures which can be improved and assist in development of new and improved reports. Update policies and procedures as needed.

Qualifications Needed

• Solid understanding of Accounting principles and concepts
• Understanding of banking products (bonds, loans, swaps, etc.)
• Ability to analyze profit & loss and balance sheet statements.
• Prior organizational, product or customer profitability experience
• Departmental cost allocations
• Commercial Banking e.g. its functions, purpose
• Banking practices and procedures, accounting principles, regulatory laws.

Technical Skills:

• Strong Attention to Detail
• Microsoft Office Products (High proficiency in Excel, macros and other business intelligence reporting)
• Used a treasury system
• High analytical skills and use of analytic tools. Experience in data analysis and problem solving.
• Adept at multi-tasking with great attention to detail
• Prepare clear, concise, and comprehensive financial, statistical, and narrative reports.
• Use, understand, assess needs and implement complex automated financial information systems.
• Perform a variety of mathematical and statistical calculations quickly and accurately.
• Analytical skills to support program specification requirements for downloading and importing of data.

Other Pertinent Information

Experience Required/Preferred: 3-5 years of work experience in financial analysis and modeling. A plus if have focus in securities and derivatives and hedge accounting

Education Required/Preferred: Bachelors’ degree (Finance / Economics preferred)