Assistant Controller
Assistant Controller
Posted on :
22-06-2025
Employer Active
1 Vacancy
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Job Description
East Cambridge Savings Banks Accounting Division is actively recruiting for an
Assistant Controller.
Function:
Under the general direction of the Senior Finance Officer & Controller manages the daily operations of the Accounting Department and performs a variety of duties pertaining to the Accounting and Financial Reporting functions in accordance with established Bank policies procedures and strategic goals.
We are looking for a candidate with:
- Bachelors degree in accounting or finance.
- At least six years experience in Bank accounting and/or financial management and minimum of three years of management experience or equivalent education/training.
- Well developed analytical organizational and problem-solving skills.
EssentialJobFunctions:
- Manages the daily operations of the Accounting Department; cash management activities daily investment activities processing of accounts payable activities wire transfers and tax payments. Conducts periodic performance reviews and provides training and development for Accounting staff assisting with completion of assignments as needed.
- Manages tax compliance for the Bank. Reviews the monthly/quarterly tax provisions and assists the Tax Provider with tax return preparation. Responsible for preparing regulatory reports and schedules required by external agencies such as the Federal Reserve Bank Depositors Insurance Fund IRS etc. Keeps abreast of accounting tax and industry developments and makes recommendations as needed.
- Responsible for ensuring the timely and accurate preparation of monthly/quarterly management and regulatory reports for review by the Senior Finance Officer & Controller
- Reviews develops and ensures implementation of Bank policies in accordance with GAAP and accounting procedures. Recommends develops and implements procedural changes and new work methods as necessary.
- Analyzes reconciliations and resolves outstanding items and accounting related issues. Provides technical assistance to staff and Officers when needed.
- Prepares and assists with month end closing entries accruals and related reports. Recalculates accrued interest receivable on a monthly basis and provides a written report to Controller.
- Responsible for the calculation of the monthly provision for credit losses and related Allowance for Credit Losses on Loans (CECL) work. Works closely with the lending staff to ensure timely and accurate information. Prepares a comprehensive quarterly report documenting the reasons for the provision and the related environmental impacts on the provision and overall allowance.
- Responsible for analyzing understanding and producing balance sheet and net interest income forecasts and related interest rate risk in an effort to meet profitability objectives. Manages the asset/liability modeling and generates various analyses in conjunction with external vendor. Attends Asset-Liability Committee (ALCo) meetings.
- Analyzes current and past financial data and performance for the Bank in comparison to peer and reports findings to management. Analyzes pricing and yield components of loans investment deposit and borrowings. Prepares and presents the monthly analysis of the Banks investment securities portfolio.
- Responsible for the preparation of the quarterly Liquidity Stress Testing. Works with lending staff to coordinate credit stress testing analysis as needed.
- Performs profitability and other financial analyses for existing and proposed products services programs and departments. Completes an analysis of any new brokers that will provide investment services to the Bank and completes an annual review of existing brokers.
- Generates and reviews various financial and regulatory reports pertaining to the Banks investment portfolio overall budget and financial performance on a daily monthly and quarterly basis. As needed researches and extracts relevant information from various internal and external sources such as the Banks CPA firm. Responsible for quarterly completion of the qualified collateral report for submission to the FHLB.
- Evaluates develops implements and monitors regulatory compliance issues. Performs operational audits to ensure compliance with established policies policies laws and regulations in preparation for external audits and regulatory exams.
- Assists in the preparation and development of the Banks operating and capital budgets. Analyzes the Banks operating budget on a monthly basis and provides reports to Controller identifying areas for improvement.
- Maintains knowledge of the Bank Secrecy Act (BSA) Anti-Money Laundering (AML) Customer Identification Program (CIP) and Office of Foreign Assets Control (OFAC) regulatory requirements. Ensures that management and staff members complete BSA related annual training in a timely manner and that all BSA procedures are followed when applicable. Identifies and reports compliance related issues and suspicious activity.
Contact our Human Resources Division or visit for more details and to apply.
Or submit your resume to:
Fax: Phone:
East Cambridge Savings Bank Attn: Human Resources
344 Cambridge Street Cambridge MA 02141
East Cambridge Savings Bank is an Equal Opportunity Employer/Veterans/Disabled
Employment Type
Full Time
Key Skills
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