Harvard University Employees Credit Union
Independently perform financial analysis to support department’s role in assisting management with financial planning efforts, budget analysis and monthly reporting.
Under the direction of the VP, Controller, this position is responsible for the accurate and timely creation and maintenance of financial analysis needs and regulatory reporting functions for Harvard University Employees Credit Union and will work with numerous financial systems to complete daily, weekly, monthly and year-end tasks. Assists in the preparation of special studies; reports; analyses; and recommendations in areas such as budgets, financial plans, statistical reports and business forecasts. Monitors and analyzes the financial statements by specifically measuring and analyzing appropriate data sets. Thoroughly analyzes and documents exposure to interest rate risk for the Asset-Liability Management Committee. Assists other department managers with financial analysis for product development and/or enhancements. Provides exceptional customer service to internal and external customers in a professional, timely and accurate manner.
The Finance department is responsible for accounts payable, vendor management, expense report processing, accounts receivable, accounting (general, investment, participation, secondary market investor), wire settlements, financial analysis, budgeting, audit management, bank exams, regulatory compliance, G/L journal entry processing, fixed assets, prepaid expense and setting of specific policies and procedures.
Duties & Responsibilities:
- Enhance existing and create new processes and reporting as it relates to balance sheet, risk-based capital and liquidity metrics.
- The integration of capital and liquidity stress testing processes/models into the credit union’s asset/liability and income forecasting balance sheet models, as needed.
- Month-end close processing using available databases and systems.
- Produce month end reports, review results and provide additional analyses as needed.
- Develop technical knowledge on Finance’s primary reporting software, and identify/implement format and process improvements.
- Monitor and forecast using key metrics.
- Assist in the timely preparation of accurate statistical studies, reports and analyses.
- Evaluate financial results by identifying/analyzing trends, monitoring variances and create recommended actions to management. Present these results in written format or as part of oral presentations.
- Responsible for completing peer analysis to analyze profitability, trends and key ratios.Create and maintain product profitability analysis.
- Design, produce and analyze reports using available databases, software tools, and methodologies.
- Miscellaneous accounting, finance, or strategic ad hoc report requests, as needed.
- Investment portfolio analysis as needed.
- External audit schedule completion and internal audit documentation collection.
- Bank exams data collection.
- Ad-hoc external vendor audit requests.
- Support budget forecasting, assist management in the completion of the annual budget.
- Complete periodic budget-to-actual reporting including variance analysis.
- Administration of budget software system, training and assisting budgeters.
- Budget proposals, address budget questions and concerns with leadership.
- Key variances to budget by researching supporting documentation and talking to appropriate managers.
- Maintain and develop various balance, income, and expense projections.
Regulatory & BOD Committee(s):
Assist with preparation of:
- Quarterly National Credit Union Association (NCUA) 5300 (call) report.
- Audit and submission of FR2900.
- Ensure compliance with various regulatory rules and policy requirements pertaining to Asset Liability, Liquidity, and Concentration limits.
- Prepare and/or assemble reports provided to the Asset-Liability Committee (ALCO) under the Asset/Liability Policy and as requested by management.
- Maintain file of all ALCO reports for audit, performs Asset Liability Management (ALM) analysis to assist with proposals brought before the committee.
Typical Core Duties
- Perform a variety of financial analyses that identify trends and recommendations to help inform decision making
- Assist with the annual budget process; assist with multi-year forecasts
- Produce financial reports, including, annual, monthly, quarterly, and ad hoc
- Act as a resource for departments on transactional inquires and financial/budgetary questions that require problem-solving and analytic capability
- Ensure financial compliance with University policies and procedures and applicable legal rules and regulations
- Bachelor’s degree or equivalent work experience required
- Minimum of 3 years’ relevant work experience
- Strong working knowledge of advanced mathematical, algebraic and statistical methods; along with their use in the business environment & analytical, interpretive, and evaluative thinking skills.
- Aptitude for mathematics and ability to analyze, compare and interpret data quickly and independently.
- Analytical and critical thinking skills sufficient to make decisions regarding daily work that is complex in nature.
- Must be able to multi-task, work independently, prioritize, and have a high attention to detail with absolute accuracy.
- Banking or credit union experience highly preferred.
- Must have excellent communication skills, both verbal and written, to work effectively with your team as well as all departments and leaders within the organization and external business partners, including members.
- Create and analyze complex financial reports using a variety of systems and data sources.
- Identify and provide input on the resolution of data integrity issues.
- Significant experience with spreadsheets (MS Excel preferred), database applications and accounting software.
- Learn new software systems and databases.
- Effectively present information and respond to questions from all levels within the institution and when required.
- Define problems, collect data, establish facts, and draw valid conclusions.
- Solve practical problems and deal with a variety of concrete variables.
- Handle multiple time-sensitive functions and changing assignments.
- Write reports and business correspondence.
- Work in a small department as part of a team.
- Handle confidential information with discretion a must.
- Curiosity around and interest in solving problems.
- Must be able to work in the diverse environment of Harvard and affiliate organizations.
- Above average skills in Microsoft Excel, Word, and PowerPoint.
- Work is performed in an office setting
The Harvard University Employees Credit Union (HUECU) is one of the fastest growing Credit Unions in the country and a leader in our industry. As a not for profit cooperative, we put our members’ best interests first in all that we do. We are passionate about service and fanatical about solving problems. Integrity and transparency are the foundation of HUECU’s philosophy. Our mission is to enhance our members’ lives by developing and offering trustworthy products that are easy to understand, easy to use and best suited to meet their financial needs.
HUECU has a dynamic small-business atmosphere where every member of the team has a significant impact on our success. Our headquarters and flagship branch are located in the heart of Harvard Square, surrounded by shops, restaurants, and the vibrant University community. We are looking for talented, member-centric individuals to join our growing team. If you have energy, enthusiasm, and thrive in a fast-paced environment, please read on.
Please provide a cover letter with your application and upload as one document
Harvard University requires a pre-employment reference and background screening, which includes OFAC (Office of Foreign Assets Control).
Harvard University is unable to provide work authorization and/or visa sponsorship.
This position has a 90-day orientation and review period.
Harvard University Employees Credit Union: https://www.huecu.org/
Harvard University welcomes individuals with disabilities to apply for positions and participate in its programs and activities. If you would like to request accommodations or have questions about the physical access provided, please contact our University Disability Resources Department.
Diversity, Inclusion & Belonging:
The dynamism that comes with working at Harvard is largely the result of our diversity. Here, staff, faculty, administrators and students representing a wide range of ages, races, interests and backgrounds come together in pursuit of common goals. Together, we strive to provide an environment that values diversity and promotes an inclusive culture.
Time Off: 3 - 4 weeks accrued paid vacation, paid holiday break, 12 accrued paid sick days, 11.5 paid holidays, and 3 paid personal days per year.
Medical/Dental/Vision: We offer a variety of excellent medical plans, dental & vision plans, all coverage begins as of your start date.
Retirement: University-funded retirement plan with full vesting after 3 years of service.
Tuition Assistance Program: Competitive tuition assistance program, $40 per class at the Harvard Extension School and discounted options through participating Harvard grad schools.
Transportation: Harvard offers a 50% discounted MBTA pass as well as additional options to assist employees in their daily commute.
Wellness options: Harvard offers programs and classes at little or no cost, including stress management, massages, nutrition, meditation and complimentary health services.
Harvard access to athletic facilities, libraries, campus events and many discounts throughout metro Boston.
In light of the global pandemic, all interview and onboarding activity for FAD will be conducted via telephone & Zoom video conferencing. Temporary work from home arrangements will be required for this position, and it is not yet known when traditional on-campus work will resume. Additional details will be provided to candidates during the interview process.