What are the responsibilities and job description for the Asset Liability Management Manager position at Peapack Private Bank & Trust?
Peapack-Gladstone Bank
Peapack-Gladstone Bank is a well-recognized, high-performing boutique bank; a leader in wealth, lending and deposit solutions, capable of providing the most sought-after products and services that fulfill all of our clients’ needs. We offer an innovative approach to private banking to help clients establish, maintain and expand their legacy.
What makes Peapack-Gladstone Bank different from our competition? We are an institution that’s over 100 years old that has always believed in putting the well-being and needs of our employees and our clients first. We are proud to be recognized for the sixth consecutive year, by American Banker as one of the ‘Best Bank to Work For’ across the nation. Our secret sauce in one word is our ‘culture’. We value a diverse, equitable, inclusive and safe workspace. Our one-team culture goes to great lengths to show all employees that they are valued members of the team. We treat each other as family, and as such, communicate throughout the Bank in a transparent and frequent manner, respect and value feedback from all levels and operate with a philosophy of hospitality and general human kindness.
There are multiple way to build relationships and get involved; from joining one of our Cultural Ambassador Sub-Committees focused on our Wellness, Employee Fun, Diversity & Inclusion, or Environmental Awareness, to involvement in multiple community service activities through our Volunteerism outreach, to joining LIFT (a committee focused on enriching the lives of women - Leading Inspiring Females Together). Said quite simply, the culture is amazing!
Asset Liability Management Manager
POSITION SUMMARY
Responsible for managing the asset liability management program for the Bank and monitoring the Bank’s internal investment portfolio.
Key Responsibilities:
- Be the subject matter expert, and provide hands on support, for the models used to manage key elements of balance sheet risk:
- Manage the development of quarterly liquidity and interest rate sensitivity stress testing models. This includes analyzing interest rate risk components, key model inputs, and simulation/scenario design.
- Advise on structural interest rate risk reporting including duration, gap analysis, net interest income risk and economic value of equity.
- Analyze liquidity risk issues, including those related to deposit economics and funding sources.
- Manage the reporting process related to ALM models for use at the Asset Liability Committee and Pricing Committee.
- Partner and communicate with senior leadership to assess interest rate risk exposure and provide independent oversight of the Bank’s adherence to the interest rate risk framework defined within policies and procedures. This will include discussions around balance sheet management strategies.
- Develop and maintain critical surveillance reports related to interest rate and liquidity risk for senior management, business partners, and regulators. This includes monitoring for compliance with internal limits and topics such as beta, volatility, and decay.
- Support the Treasury team in managing and monitoring the Bank’s investment securities portfolio.
- Partner with Cash Management to monitor liquidity risk including reporting.
- Assist in the collateral management program by providing support for securities and whole loan pledging, secured funding capacity, reporting, economics and relationship management.
ESSENTIAL SKILLS AND EXPERIENCE
- 3 to 5 years of experience in risk management, treasury or a finance function.
- Strong analytical and quantitative skills, critical thinking, investigative problem-solving and decision structuring talents.
- High level of self-initiative required.
- Understanding of stress testing (interest rate risk, liquidity risk and capital risk), experience with return measures and stress test model construction.
- Knowledge of standard bank products (deposits, loans, derivatives, etc.) and financial concepts including present value, duration and financial modeling.
- Understanding of governance and the controls around risk monitoring.
- Strong communication and interpersonal skills.
- Knowledge of asset liability management, interest rate risk, and Excel. Preferred knowledge of SNL/S&P Capital IQ, Salesforce, and data aggregation tools (Cognos).
- Bachelor’s degree required.
Benefits
Peapack-Gladstone Bank offers medical, dental, and vision coverage to full-time employees, in addition to a competitive PTO package and 401k match.
