Financial Planning & Analysis Analyst II

Financial Planning & Analysis Analyst II

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week. We encourage you to become a part of VyStar Credit Union's family of employees.

The incumbent will be the part of the Financial Planning and Analysis (FP&A) team and assist the FP&A management team in carrying out the broader company mission. The FP&A function refers to the corporate finance and planning role. This includes all aspects associated with planning, forecasting, analysis, and reporting to aid senior management with decision-making. The FP&A team leads the Annual Operating Plan (AOP), or budget, process and prepares profitability reporting for business units, delivery channels, products, and members/households. The team also prepares ad-hoc analysis for new business initiatives, products, and expansion. These duties require building and maintaining various models using business intelligence tools and corporate financial management programs. The FP&A team will work closely with the Financial Risk Management (FRM) team, Accounting, and other business units.

Essential Functions:

• Analyze and enhance historic and forecasted profitability models for business units, delivery channels, products and members/households including activity-based costing, transaction-driven cost allocations and sensitivity analysis.
• Assist in development and maintenance of long-term forecast, working closely with department leadership to formulate business's medium to long-term financial and strategic plans. This includes producing models to project long-term growth and determining the impacting business factors.
• Analyze financial and operational results to better understand company performance including evaluating whether the company's current assets and investments are the best use of the company's excess working capital, by looking at return on investment (ROI) and comparisons with other ways the company might utilize its cash flow (e.g., other possible investments)
• Review existing processes and procedures to develop recommendations for improvement efforts. Communicate results and recommendations to various stakeholders for improvements that will lead to cost reduction, revenue generation and streamlining operations.
• Ability to drive a project from inception to delivery to include design, development, testing and implementation
• Assist in the Annual Operating Plan (AOP), or budget, process to include interaction with key stakeholders and business units to develop key performance indicators (KPI) to help enhance their budgeting process
• Review and analyze various aspects of the AOP for reasonability and create KPI dashboards.
• Analyze the trends of Key Performance Indicators (KPIs) and identify the cause of any unexpected variances.
• Provide insights to senior stakeholders around financial modelling, forecasts, and profitability. Present the monthly and quarterly financial reports of various units and departments
• Develop a detailed rolling income statement forecast that can be integrated into the Annual Operating Plan and various department models
• Prepare and automate reports and presentations for Senior Management and the Board of Directors to include financial statements, variance reporting, ratios, slides, and other analysis
• Take ownership of long-term planning exercises including tracking variances, back-testing results, reporting and sensitivity analysis
• Develop and enhance models for branch expansion efforts to include pro-forma statements and other reports to assist management in strategic initiatives
• Assist in balance sheet updates and deposit pricing recommendations for presentation to the Asset-Liability Committee (ALCO)
• Develop and incorporate funds transfer pricing (FTP) in profitability reporting for business units and products
• Maintain, enhance, and develop models to assess performance of branches and other delivery channels to assist Sr. Management in decision making
• Review the quarterly peer analysis reports for presentation to ALCO and define key variances
• Analyze the monthly Return on Assets decomposition model and explain variances
• Perform ad-hoc income and cost analysis to aid business units and management in decision making for new products, services, and business initiatives
• Responsible for continued process improvement and compliance with State and NCUA regulations in all areas
• Create, maintain, and enhance various models to assist the FRM team with liquidity reporting and asset-liability management
• Extract data from business intelligence databases or other sources using data mining tools such as SQL, VBA, Crystal Reports, Power BI, Adaptive Planning, or other methods
• Takes initiative in supporting changes needed in FP&A functions related to impacts from strategic initiatives such as M&A and new lines of business
• Ad-hoc business performance reporting
• Perform special projects or initiatives as assigned

Financial Decision Support & Reporting:

• Analytical and statistical examination skills
• Exhibits advanced knowledge of profitability concepts, systems and reporting including Funds-Transfer Pricing, activity-based costing, and allocations
• Takes initiative in supporting analysis and models for both the FP&A and FRM functions
• Excellent skills in ensuring reporting is complete, accurate and balances to the overall financial reports
• Develops clear and concise written analysis of modeling results for presentation to business units, ALCO, senior management, and the Board of Directors
• Documents all work processes and models used for FP&A functions
• Takes initiative in supporting changes needed in FP&A functions related to impacts from strategic initiatives such as M&A and new lines of business
• Effectively supports the Finance team with requirements for the annual regulatory examination by the State of Florida and NCUA
• Performs other duties as assigned
• All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance.

Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job:

• Focus - Focus your full attention by carefully listening to and observing client or member.
• Connect - Consistently be friendly and approachable. Demonstrate your care.
• Understand - Listen empathetically and ask questions (70%/30% rule).
• Counsel - Recommend solutions based on your member's needs and objectives.
• Advance - Ensure that member's expectations were exceeded.
• Verify necessary follow-up actions.

Job Qualifications:

Education:

• Bachelor's degree in Finance, Accounting, Economics, or related area
• Masters of Business Administration (MBA) or Master's Degree in a Quantitative or finance discipline is preferred

Experience:

• 4-7 years of related experience
• 2+ years of functional experience with budgeting, profitability, and data mining activities
• 2+ years of experience in statistical/quantitative analysis tools such as SQL, Power BI SPSS, or other tools.
• 2+ years of experience in Financial Analytics/Modeling using Adaptive Planning or other budgeting, forecasting, or profitability systems

Knowledge, Skills, & Abilities:

• Knowledge of credit union/bank products and services.
• Proficiency in data analytics
• Advanced skills in Excel, PowerPoint, and Word
• Avid and positive team player that works well across multi-disciplined organization
• Ability to work with both finance and non-finance professionals
• Strong analytical capabilities with knowledge of accounting/financial reporting and financial modeling
• Ability to coach and mentor other analysts
• Strong communication skills including presentation, interpersonal and writing skills
• Ability to work independently and is a self-starter
• Exhibits flexibility and willingness to take on new responsibilities and assignments
• Working knowledge of profitability/corporate performance management (CPM) software such as IBM TM1, SAS or others
• Working knowledge of Data Analysis programming languages such as SQL, VBA, Python