Reports to: CFO
Location: Flexible within the Berkshire Bank footprint
Berkshire Bank is a regional bank that has embarked on an exciting journey of transformation that will place the bank in the top decile of regional banks in the U.S. The company recently did a public launch of its transformation program (B.E.S.T plan) and aspires to be the leading socially responsible bank. The Treasurer will act as a trusted advisor to the CFO and CEO and will play a central role in the multi-year transformation of the company. The Treasurer is responsible for balance sheet management, the investment portfolio, asset liability management, capital management and CCAR, liquidity management, short-term and long-term funding and debt management and interest rate and market risk management. The Treasurer also plays a key role in managing asset and liability product pricing, forecasting/budgeting process, M&A related valuations and due diligence, managing banking relationships, provides proactive consulting to Business Partners and leads or serves on key Committees.
Lead effective implementation and ongoing management of balance sheet strategies through close partnership with business leaders and key stakeholders across the company.
Chair ALCO Committee and lead management of interest rate and market risk positions of Company, develop and implement appropriate interest rate risk strategies, including derivative instruments, to effectively manage the risk exposure of the Company. Act as key liaison and present to the Risk and Capital Committee of the Board
Ensure ALCO is updated on key internal/external factors, including regulatory issues, affecting the Bank's interest rate risk profile. Ensures ALCO policy and internal controls are compliant with regulations and provides for effective administration of ALCO function. Oversee the preparation of ALCO/Board Risk Committee reporting packages.
Lead management of the Company's investment portfolio, seeking to maximize long term returns while managing to risk profile commensurate with balance sheet, capital, tax and liquidity constraints and market dynamics.
Manage team to ensure appropriate due diligence of investment and funding opportunities, risk assessments and portfolio holdings of securities and purchased loans to ensure performance in accordance with strategic targets
Manage capital framework and CCAR to ensure that capital is efficiently deployed to maximize returns and enhance shareholder value. Execute on the company's capital plan through optimized capital structure, deployment and ensuring that the company is well-capitalized according to regulatory definitions.
Develop and implement best-in-class capital allocation and returns framework to measure business performance
Manage short-term and long-term funding requirements; lead capital markets transactions including issuance of debt, preferred stock and other instruments.
Responsible for liquidity management and related contingency funding and correspondent counterparty risk monitoring. Manage cash flows to ensure funding availability for operational needs and investment needs. Oversee the liquidity planning process and stress testing and adherence to regulatory requirements.
Manage all hedging activity to manage interest rate risk; oversee execution of hedging activity, including back-to-back swaps for the Commercial Lending businesses.
Oversee the net interest margin analysis and the funds transfer pricing process for the Company.
Manage relationships with key external and internal stakeholders: Regulators, Board, Business Leaders, Audit, Risk Management
Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards as required by the company policy.
MBA/Master's Degree with concentration Finance preferred
Chartered Financial Analysts (CFA) preferred
15+ years of experience in Finance with a heavy focus on Treasury disciplines. Asset/liability and capital management and allocation experience a plus. Preferred experience includes:
3+ years of experience in investment analysis
3+ years of experience in interest rate risk management
3+ years of experience in capital markets
Skills & Knowledge:
Excellent leadership skills with the ability to partner with and influence key stakeholders
Ability to drive change through the organization
Excellent communication and negotiation skills; have the ability to collaborate with all levels of the organization
In-depth understanding of banking businesses and products
Deep understanding of regulations as it pertains to capital and liquidity
Berkshire Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or national origin.