Assistant Treasurer at Five Star Bank in Buffalo, New York

Job Description:

Title: Assistant Treasurer

Requisition ID: 5250

Location:Buffalo, NY, US

Category:Regular Full-Time

Job Class:Treasury

Salary_Range:$110,000.00 To $150,000.00 Annually

Description:

Purpose: The Assistant Treasurer is responsible for the overall management of the bank’s treasury function including overseeing access to wholesale funding and the bank’s daily liquidity needs, assists in the management of interest rate risk and quarterly modeling results, supports the management of the investment portfolio, in accordance with investment policy, risk management and business plan goals. This role will directly oversee daily Treasury operations to optimal use of cash resources and maintain appropriate reserve levels to support operational activities. The Assistant Treasurer partners with the municipal, commercial and retail banking functions to establish deposit pricing strategies and oversees the daily and monthly pledging functions performed by departmental staff.

This role is pivotal in supporting the bank's financial strategy and maintaining its financial health.

Essential Functions:

• Supervision of daily funding/cash position and balancing, including monitoring of pledging activities and FRBNY reserves.
• Oversees the operation of the Empyrean asset/liability management model and communicates results and recommended strategies to ALCO. Provides interest rate forecasts for developing corporate earnings projections and financial plans.
• Partners with Senior ALM & Liquidity Analyst in the continuous enhancement of the IRR model’s capabilities, including modifying the interest rate risk reporting packet, making modifications to the existing model and maintaining strong model governance standards.
• Partners with the CFO in the management of the company’s investment portfolio.
• Evaluates, in conjunction with senior management, the short and long-term funding needs of the Bank. Ensures that the required reserve position at the Federal Reserve is met.
• Manages the treasury accounting function including accounting for investments, wholesale funds, and derivatives; as appropriate.
• Analyzes the liability structure of the organization including the review and forecast of the sources and uses funds of the company. Manages the company’s wholesale funding portfolio including collateral requirements for pledging.
• Supports the CFO in maintaining policies governing the management of interest rate risk, liquidity risk and the investment portfolio.
• Sets interest rates on many of the company’s wholesale and quasi-wholesale (CDARS) deposit products and provides input on retail deposit pricing.
• Leadership: Oversee and lead cash management operations for municipal and treasury functions, ensuring efficient processing, forecasting and investment of municipal deposits.
• Monitors the financial condition and credit rating for issuers of debt for municipalities and agencies whose bonds are held in the investment portfolio
• Participates in the development of product and business unit strategies, especially when interest rates and capital markets information are critical to their success.
• Implements and administers organizational treasury policies, governing cash flow and liquidity, debt and credit, interest rate risk, investing and forecasting, and relationships with correspondent banks.
• Responsible for the Sarbanes Oxley matrixes/guidelines for the Treasury Department, which includes ongoing review and monitoring of activities for compliance, as well as, the development of new and enhanced control objectives/risk factors as needed.
• Responsible for assuring that all relevant operating and compliance procedures are properly preformed in the specific area of supervision.
• Works with members of other departments and bank staff to provide examiners and audit staff with requested information.
• Demonstrates the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Job Related Qualifications:

Required:

• Education: Bachelor’s Degree in Finance, Accounting, Economics, or a related field; MBA preferred
• Prior Experience: 7+ years of experience in treasury or financial management within the bank industry.
• Licenses or Accreditation: Certified Treasury Professional or Certified Financial Analyst preferred.

Competencies:

• Strong understanding of financial legislation, market trends and financial management software.
• Comprehensive understanding of interest rate risk, asset liability management and experience running an interest rate risk model, preferably Empyrean
• A varied level of problem-solving skills. Situations require knowledge of the work and of the unit, which may involve a range of possible solutions to human, technical, or administrative problems of a complex nature.
• Excellent analytical, leadership and communication skills
• Ability to develop long-term financial strategies that align with Five Star Bank’s objectives.
• Knowledge of Bank Accounting and Fixed Income Investment Securities.
• Possess a high level of attention to detail to ensure accuracy, and statistical knowledge
• Deep understanding of financial instruments, risk management and investment strategies.
• Ability to lead teams effectively, fostering collaboration and professional growth.
• Strong ability to analyze financial data, assess risk management and financial reporting standards.
• Ability to maintain strong relationships with internal and external stakeholders, including financial institutions and regulatory bodies.
• Strong verbal and written communication skills, with the ability to present complex financial data to senior leadership and external partners.

Physical Requirements:

• Able to regularly sit for prolonged periods of time.
• Able to travel: Occasionally
• Extensive computer usage is required.

Benefits:

• Medical, Dental, and Vision Insurance
• Health Savings Account
• Flexible Spending Account(s)
• Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
• Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
• Tuition Reimbursement
• Employee Referral Program
• Wellness Reimbursement Program
• Star Volunteer Program
• Employee Banking and Financial Perks
• Flexible Hybrid Work Schedule
• Paid Time Off (PTO)
• Company Paid Holidays

This job description is not exhaustive. The Assistant Treasurer may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.

Equal employment opportunity, including veterans and individuals with disabilities.

PI266690454

Salary:

$110.00

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