Financial Reporting & Research Specialist

Peapack Private Bank & Trust 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 Private 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!

Financial Reporting & Research Specialist

Position Summary:

Responsible for acting as the primary liaison between Finance and all departments of the Bank. This includes responding to accounting and operational questions / issues received from the various Operations areas (e.g., Loan, Deposit / Escrow, Wealth and Treasury Management). Evaluating these issues with respect to how they impact the Bank's financial statements. Primary responsibilities also include, but are not limited to, monthly recording of Peapack Private Wealth Management's revenue; monitoring of the Bank's reciprocal deposit program; completion of the quarterly CECL Key Control Log for ACL and AQR; and, quarterly valuation and analysis of the Bank's interest rate (hedging) swaps and Loan Level swaps.

Responsibilities

• Review of the Wealth division revenue - including the quarterly billing / monthly recording and analysis of revenue; reviewing journal entries to record the revenue and tracking of wealth fees to be collected.
• Liaison with Operations departments throughout the Bank.
  
  
  
  • Provide accounting assistance to all Operations departments (Loan, Wealth Deposit/Escrow and Treasury Management) on an as needed basis.
    Monthly review of FASB fees, prepayment penalties, loan payment deferral reconciliations, loan sale entries, etc.
  
  
  
  
• Monitoring the Bank's Reciprocal Deposit Program - this program facilitates providing large dollar deposit accounts with FDIC insurance coverage. The program captures a high volume of daily activity and tracks the related interest to be paid on each account.
• Quarterly Current Expected Credit Loss (CECL) Tracking - Preparing documentation to support financial reporting related to the Allowance for Credit Losses (ACL) and Asset Quality Review (AQR) for the Bank's Loan and Lease portfolio.
• Interest Rate and Loan Level Swap Accounting
  
  
  
  • Quarterly valuation analysis of the swap positions based on MTM analysis prepared by Derivative Path. Posting of the quarterly MTM adjustment entries and updating various quarterly summary reports. Preparation of quarterly swap-related disclosures for 10-Q/10-K reporting and Call Reporting.
  
  
  
  
• Other duties include general accounting functions such as check signing, review of account reconciliations and assistance with both internal and external audit requests.

Requirements:

• Bachelor's degree in accounting or finance required.
• One to three years of accounting and/or banking experience.
• Strong analytical skills.
• Must be an organized, accurate, reliable and detail-oriented individual.
• Must have good oral and written communications skills, including the ability to deal effectively and tactfully with all levels of the organization.
• Proficient in Excel required.

Benefits

Peapack Private Bank & Trust offers medical, dental, and vision coverage to full-time employees, in addition to a competitive PTO package and 401k match.