ALM Program Manager

Description

BankFund Credit Union is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station. This position is classified as a hybrid role which means that on-site work will be expected. After completion of training for the role, staff generally work on site 40% of the time but this is subject to change based on health and safety standards and operational need.

Responsibilities:

Interest Rate Risk & Asset-Liability Management

· Administer and maintain the Credit Union's interest rate risk (IRR) measurement and monitoring framework under the direction of the Treasurer.

· Support the Treasurer in assessing and managing balance sheet risk through quantitative analysis, forecasting, stress testing, and scenario analysis.

· Perform and maintain analyses measuring earnings-at-risk, net economic value (NEV), net interest income (NII), repricing risk, basis risk, yield curve risk, and options risk.

· Develop, maintain, and analyze model assumptions, including prepayment, deposit behavior, repricing, and other key behavioral assumptions used in ALM and IRR modeling.

· Evaluate the sensitivity of earnings and capital to changes in interest rates and economic conditions and provide analysis to support strategic decision-making.

· Conduct attribution and sensitivity analyses to identify and explain key risk and performance drivers across the balance sheet.

· Perform back-testing and monitoring of assumptions and model results to support forecasting accuracy and continuous improvement.

· Provide analytical support for budgeting, business planning, liquidity management, capital planning, and other balance sheet management initiatives.

· Maintain knowledge of balance sheet management practices, monetary policy, financial markets, and interest rate risk management methodologies to support the Treasurer and ALCO.

Governance & Model Risk Management

· Support the Treasurer in maintaining the Credit Union's Asset Liability Management (ALM) and Interest Rate Risk (IRR) programs in accordance with Board-approved policies, regulatory guidance, and industry best practices.

· Administer model governance processes, including assumption management, change control, documentation, validation support, and performance monitoring.

· Calculate, monitor, and report Board-approved interest rate risk metrics and policy limits.

· Develop and maintain procedures and controls designed to ensure the completeness, accuracy, and reliability of ALM and IRR data, assumptions, and reporting outputs.

· Coordinate and support internal audits, external audits, regulatory examinations, model validations, and third-party reviews.

· Monitor emerging regulatory expectations and industry developments and recommend program enhancements to the Treasurer.

Reporting & Communication

· Lead the preparation, quality assurance, and distribution of ALM and interest rate risk reporting for Senior Management, ALCO, the Finance Committee, and the Board of Directors.

· Develop clear and actionable analyses that support the Treasurer's recommendations regarding balance sheet risk and performance.

· Prepare presentations, executive summaries, and supporting materials explaining risk exposures, forecasted performance, stress-test results, and key assumptions.

· Present analytical findings and risk assessments to ALCO, management committees, and other stakeholders as requested by the Treasurer.

· Translate complex financial and quantitative analyses into meaningful insights for both technical and non-technical audiences.

· Support the Treasurer in evaluating strategic alternatives by providing timely analysis of potential risks, opportunities, and financial impacts.

Data, Systems & Analytics

· Design, maintain and enhance analytical models, systems, tools, and reporting processes supporting asset liability management and interest rate risk measurement.

· Develop automated solutions for data collection, validation, analysis, and reporting to improve efficiency, accuracy, and scalability.

· Manage data quality control processes and data integrity testing associated with ALM and IRR reporting.

· Perform data extraction, transformation, analysis, and reporting using large and complex data sets.

· Coordinate with internal stakeholders and external vendors to support system enhancements, data improvements, and reporting capabilities.

· Evaluate existing processes, technologies, and analytical tools and recommend opportunities for improvement.

Program Leadership & Collaboration

· Serve as the Treasurer's primary analytical resource for interest rate risk, forecasting, stress testing, and balance sheet analytics.

· Lead projects and initiatives related to ALM, interest rate risk management, scenario analysis, forecasting, and model enhancements.

· Coordinate with Treasury, Accounting, FP&A, Lending, Risk Management, Data, and other business units to support effective balance sheet management.

· Develop and maintain productive working relationships with vendors, consultants, auditors, and regulators as applicable.

· Identify opportunities to improve analytical processes, reporting quality, controls, and operational efficiency.

· Communicate project status, emerging risks, issues, and recommendations to the Treasurer and other stakeholders in a timely manner.

For internal purposes, this position is graded as Exempt - 15. 

The anticipated annualized base salary range for this position is $158,000 to $198,000. Final base salary for this role will be based on the individual’s job-related experience, skillset, training, certifications and market demands. The benefits available for this full-time position include but are not limited to: medical, dental, and vision insurance, 401(k) plan, life insurance coverage, disability benefits, tuition assistance program and paid time off, including paid parental leave benefits. In addition to base compensation salary, this role position is eligible for an annual incentive plan.

Requirements

  Minimum Qualifications:

Education

· Bachelor’s degree in finance, Economics, Actuarial Science, Mathematics, Economics, Computer Science, or a related field required. 

· Master’s degree in finance, Economics, Business Administration or a related discipline preferred.

· Professional designation (e.g. CFA, FRM, PRM) is valued.

Experience 

· 5+ Years of progressive experience in asset liability management, interest rate risk management, treasury, finance, risk management, or related functions within a financial institution.

· Experience utilizing ALM modeling software and related analytical tools. 

· Experience developing and presenting executive-level analyses, recommendations, and reports. 

· Experience preparing materials for senior management committees, ALCO, boards, or regulatory audiences. 

· Experience working with large and complex financial data sets. 

· Experience developing automated analytical, reporting, or workflow solutions preferred. 

· Experience supporting regulatory examinations, audits, model validations, or governance processes preferred.

Knowledge, Skills and Abilities Required

· Strong communication skills and the ability to work independently, with a proactive approach to engaging coworkers, other departments, external vendors, and business partners to build strong working relationships and efficiently resolve issues.

· Excellent analytical, quantitative, problem-solving, organizational, and time management skills with strong attention to detail. 

· Strong understanding of asset liability management principles and interest rate risk measurement methodologies. 

· Knowledge of Net Interest Income (NII), Net Economic Value (NEV), Economic Value of Equity (EVE), earnings-at-risk, stress testing, scenario analysis, and forecasting methodologies. 

· Solid understanding of financial institution practices relating to deposit behavior modeling, mortgage prepayments, and other key ALM assumptions. 

· Strong knowledge of balance sheet management practices, liquidity management, and financial institution funding strategies. 

· Strong written and verbal presentation skills with the ability to communicate complex quantitative concepts and analytical results to executives, management committees, regulators, and non-technical audiences. 

· Demonstrated ability to develop actionable recommendations supported by sound quantitative analysis. 

· Experience utilizing ALM modeling software and related analytical tools. 

· Advanced proficiency in financial modeling, forecasting, and data analysis. 

· Experience working with large and complex data sets, including data extraction, validation, transformation, and reporting. 

· Experience with reporting, data visualization, and business intelligence tools. 

· Experience with SQL, Power BI, Python, VBA, or other analytical and automation tools preferred. 

· Experience with data governance, data warehousing, reporting architecture, and analytical best practices preferred. 

· Familiarity with model governance practices, including assumption management, validation support, documentation, and change management. 

· Working knowledge of fixed-income securities, mortgage-backed securities, collateralized mortgage obligations, and related cash flow characteristics preferred. 

· Familiarity with Bloomberg, option-adjusted spread methodologies, Monte Carlo simulations, or other fixed-income analytical techniques preferred. 

· Strong understanding of regulatory expectations and industry best practices relating to asset liability management and interest rate risk management. 

· A demonstrated commitment to continuous learning and maintaining expertise in financial markets, balance sheet management, and emerging risk management practices.