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Financial Analyst in Boston, MA at Accounting Now

Date Posted: 7/19/2018

Job Snapshot

  • Employee Type:
  • Location:
    Boston, MA
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:
  • Job ID:

Job Description



Implement and operate the Product and Relationship Profitability systems, including ongoing updates, analysis and production of related reports. Manage data collection and processing of the Business Line Profitability function through MPC. Act as a resource to the other Financial Analyst(s). Review ROA simulations for the commercial lenders. Write quarterly narratives on lender profitability. Work closely with business line managers, based on their needs, to investigate areas of their operations that could be addressed for greater efficiencies. Responsible for the collection, analysis and documentation of data as it pertains to establishing and maintaining income and expense allocation routines for the organizational and product profitability models. Make recommendations and prepare analysis as appropriate for review by senior management. Serve as a resource to the department for the data warehouse reporting. Analyze and produce monthly financial reports as requested by senior management. Responsible for all other data management, advanced Excel analysis, and ad-hoc projects, as requested by senior management. Provide and initiate analytical reports of management and business center managers.

Key Result Areas:

  • Responsible for the implementation and monthly report production through the product profitability system and relationship profitability system, as well as ad-hoc analysis as requested by senior management.

  • Accurately review return on asset (ROA) simulations by understanding the loan requirements presented by Portfolio Managers. Explain the results and recommend changes to maximize profit, if necessary. The results are presented to all necessary loan review committees and the Board.

  • Produce independent analyses of various products and customer relationships drawing from knowledge acquired through working with the relationship profitability process.

  • Work with business line managers as an outside source to investigate areas of their operations that could be made more efficient.

  • Collect monthly data from the data warehouse and all other department sources to develop performance statistics for inputs to the Product system. Design queries using the data warehouse to facilitate this process.

  • Responsible for modification, distribution, and collection of the annual overhead center surveys to allocate department time for business line profitability. As well as the survey to allocate product expenses for loans and deposits necessary for relationship and product profitability.

  • Constantly work to increase knowledge of the organization and products in order to make suggestions and recommendations regarding possible changes to the allocations for the organizational profitability process.

  • Act as a resource and guiding influence for the other financial analyst(s).

  • Stay informed to national and regional market changes and what the potential impact could be on the profitability of the Bank and business units.

  • Assist in the written analysis of the market conditions regarding each of the branch's in the banks systems to explain the strengths and weaknesses of each and how increased profitability can be achieved.

  • Update product cost assumptions, formulas, and methods.

  • Responsible for the quarterly production of the loan officer profitability reporting by writing the officer narratives.

  • Accept responsibility for all deliverables associated with major department initiatives.

  • Responsible for the development of initial documentation of all Profitability processes as well as ongoing updates to the documentation.

  • Assist in the creation of the annual profitability budget.

  • Work with the department heads as necessary to monitor production changes compared to budget.

  • Backup the functions of the other Financial Analyst regarding monthly reporting and the MPC software.

  • Prepare comparison reports on transfer pricing changes to senior management on a regular basis.

  • Generate monthly financial reports for distribution to department heads and senior management.

  • Design and enhance existing controls for department processes.

  • Continually update data warehouse skills. This includes a collection of various statistics to be used in performance measurement systems for various analyses.

  • Responsible for the on-going records management according to department schedule.

  • Create, update and enhance various graphs and spreadsheets, used for department projects and senior management reporting.

  • Perform additional analyses as needed.

  • Contribute to the effective team management of all bank and department initiatives.

  • Perform additional duties as required


  • Bachelor's degree, preferably in economics or finance, with specialized courses in cost accounting, management, or finance.

  • 1-3 years financial analysis experience.

  • Knowledge of bank accounting and analysis.

  • Experience with business line and product profitability theory and production preferred.

  • Advanced computer skills, including very strong Excel experience. Proficient in PowerPoint.

  • Strong interpersonal, customer service and presentation skills.

  • Strong quantitative, technical and analytical skills. Ability to analyze large volumes of data and learn new systems quickly.

  • Strong oral and written communication skills.

  • Ability to pay attention to detail, meet deadlines, take initiative, multi-task, and work independently with minimal supervision.

  • Knowledge of the financial structure of the Bank.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.