Financial Risk & Data Analyst

POSITION: Financial Risk and Data Analyst

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity. The Financial Risk and Data Analyst plays a key role in supporting the Bank's Allowance for Credit Losses (ACL) process under CECL (ASC 326) while also contributing to broader financial reporting, accounting, and regulatory reporting functions. This role is ideal for a versatile accounting/finance professional who can balance technical CECL responsibilities with hands-on involvement in the monthly close, financial reporting, and regulatory filings typical of a community banking environment.

This position partners closely with Accounting, Credit, Treasury, and Risk to ensure accurate, timely, and well-controlled financial reporting.

Key Result Areas:

* CECL & Credit Loss Analysis

o Support the preparation and ongoing maintenance of the Bank's CECL model and ACL calculation.

o Prepare loan portfolio segmentation, qualitative factor analysis, and incorporation of economic forecasts.

o Perform variance analysis on ACL results, including period-over-period changes and forecast vs. actual comparisons.

o Maintain CECL documentation, assumptions, and methodology in alignment with audit and regulatory expectations.

o Partner with Credit and Risk teams to incorporate portfolio trends and credit quality indicators into loss estimates.

* Financial Reporting & Close Support

o Assist with the monthly and quarterly close process, including journal entries, reconciliations, and supporting schedules.

o Prepare and review financial statement components and internal management reports.

o Support Call Report preparation and other regulatory filings.

o Contribute to preparation of audited financial statements and footnote disclosures, including ACL-related disclosures.

o Analyze financial results and provide insights into key drivers of performance.

* Data, Controls & Process Improvement

o Extract, validate, and reconcile loan and financial data used in CECL and reporting processes.

o Assist in maintaining strong internal controls over financial reporting, including documentation and testing support

o Identify opportunities to automate or streamline reporting and CECL processes.

o Support data governance and integrity initiatives in partnership with IT and Finance.

* Cross-Functional Collaboration

o Maintain accurate loan files and system records, including decisions and condition tracking throughout the loan lifecycle.

o Work closely with Accounting/Finance leadership on reporting deliverables and special projects.

o Collaborate with Lending and Credit teams to understand portfolio activity and emerging risks.

o Support external audits, internal audits, and regulatory exams by preparing schedules and responding to requests.

o Provide ad hoc financial analysis as needed.

* Perform additional duties as required.

Qualifications:

* Bachelor's degree in Accounting, Finance, or related field.

* 2-5 years of experience in accounting, financial reporting, banking, or credit analysis.

* Experience in a bank or financial institution strongly preferred (community bank experience a plus).

* Working knowledge of CECL (ASC 326) or strong willingness to learn.

* Solid understanding of financial statements and accounting principles (U.S. GAAP).

* Advanced Excel skills (data analysis, pivot tables, modeling).

* Experience with banking systems, general ledger platforms, and/or CECL software a plus.

* Strong attention to detail and accuracy.

* Ability to manage multiple responsibilities in a deadline-driven environment.

* Analytical mindset with the ability to interpret financial and credit data.

* Strong communication skills-able to explain financial concepts clearly to non-finance partners.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location: Hybrid/Waltham, MA Salary Range: $90,000 - 110,000

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $90,000 - 110,000. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

Visa Sponsorship: Cambridge Savings Bank is unable to sponsor or take over sponsorship of an employment visa for this role at this time.

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.