JOB SUMMARY
The Allowance & Portfolio Risk Specialist will assist the Portfolio Risk Strategy Officer in the compilation & preparation of independent, objective, and reliable reports which will be used to identify, monitor, and mitigate current and emerging credit risks. The responsibilities further include but are not limited to assisting in the monitoring, reporting, and analysis of the Allowance for Credit Loss (ACL) calculation, stress testing, and exception tracking. The Specialist also will assist the Portfolio Risk Strategy Officer in the preparation, aggregation, and analysis of the data, financial metrics, and financial reports for review by Executive Management, Board of Directors, Call Reports, auditors and examiners, and other regulatory, financial, and operational reporting.
Starting annual salary of $60,000.00. Employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.
RESPONSIBILITIES
- Compile and prepare accurate and timely ongoing daily/monthly/quarterly reports to be reviewed by the Portfolio Risk Strategy Officer and used to report to Executive Management, Board of Directors, auditors and examiners, and other regulatory agencies.
- Create, prepare, and provide analysis for new reports requested by the Portfolio Risk Strategy Officer and Executive Management.
- Assist in the preparation & analysis of stress test scenarios to assess vulnerability to economic and portfolio shocks.
- Assist in the preparation & analysis of quarterly underwriting policy exceptions reporting.
- Assist in the monthly preparation of the ACL provision estimate.
- Assist in the quarterly preparation of the ACL adequacy analysis.
- Collaborate with data scientists, credit teams, lines-of-business, ALM/finance teams, compliance etc. to ensure appropriate, relevant, and accurate data is used in creation of reports.
- Assist in the creation & review of audit documentation used for reporting to internal, external auditors and OCC/Federal Reserve/FDIC Examiners.
- Maintain a solid understanding of all regulatory compliance issues as they pertain to this position.
- Assume additional responsibilities as required.
REQUIREMENTS
- Ability to understand and follow instructions in English.
- Ability to sit for extended periods of time, twist, bend, sit, walk use hands to twist, handle or feel objects, tools or controls, such as computer mouse, computer keyboard, calculator, stapler, telephone, staple puller, etc., reach with hands and arms, balance, stoop, kneel, talk or hear.
- Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.
QUALIFICATIONS
- Highly collaborative and strong interpersonal skills.
- The ideal candidate will have a degree in finance, accounting, and economics or related.
- Strong credit administration & MIS skills and knowledge preferred, with at least 2+ years direct experience in and responsibility of credit risk management.
- Experience in data analysis and report preparation, including proper rationale and documentation support designed to articulate and improve our ability to identify, assess, manage, and monitor key risks.
- Strong curiosity about technology and automating processes and workflow.
- Knowledge of relevant federal banking compliance regulations and Bank accounting policies and procedures is preferred.
- Experience with banking core systems preferred (Fiserv, Infolease, and Aspire preferred).
- Experience with Microsoft Office products preferred (Word and Excel preferred).
- Brings a positive can-do approach to new innovations, approaches and problem-solving.
THE COMPANY
Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $2.4 billion well-capitalized, independent financial holding company based in St. Cloud, Minnesota. Specializing in nationwide small business lending and equipment financing, Stearns has maintained outstanding customer service, fast decisions, and customized finance solutions to their customers for decades.
Stearns Bank has earned itself a stellar reputation amongst customers and competitors alike. This reputation goes beyond just word-of-mouth, as Stearns has been recognized by the Independent Community Banker’s Association (ICBA) as a top-performing bank in the nation based on a 3-year average Return on Assets for banks $1 billion or more. Stearns has also been recognized by American Banker as a top-performing bank in the nation over a 3-year period for Return on Equity for banks from $2 billion to $10 billion.
As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation.
EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN
We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.
