Division Head, Funds Management, South Bend, IN
Company: 1st Source Corporation
Location: South Bend
Posted on: May 27, 2023
Description POSITION SUMMARY: Manages and directs activities of
the Funds Management Division within the Corporation (Corp), which
includes prudent investment of funds and management of liquidity
and interest rate risks through the Asset - Liability function.
ESSENTIAL REQUIREMENTS: Investment Management Responsibilities:
- Manages the investments for Bank and supports any Corp
investments as needed.
- Oversees the management of the fixed income investment
- Develops and maintains investment policies for Bank, Corp and
other relevant investment subsidiaries.
- Ensures all investments in Bank and Corp portfolios are in line
with policies and procedures.
- Reports investment activity to the Board of Directors.
- Recommends and formulates, with senior management and 3 party
managers, the composition and term structure of the Bank's
- Manages the identification and analysis of the risks and
returns associated with the various components of the investment
portfolio and other investments for Bank and Corp.
- Provides projections for the Bank's planning process as
- Strategizes with team members regarding new product development
opportunities in taxable and tax-exempt markets.
- Ensures the Bank is sufficiently invested in relevant
communities which will help to support the Community Reinvestment
- Chairs the Community Investment Committee and participates in
the Community Leadership Committee.
- Supports other investments of Bank and Corp as needed.
Asset-Liability Management (ALM) Responsibilities:
- Manages the overall process for measuring and reporting of
interest rate risk and liquidity risk to include net interest
income and margin forecasting.
- Chairs the Asset Liability Committee.
- Oversees the use of sophisticated analytical methods.
- Provides oversight of model benchmarking and back-testing of
key model assumptions.
- Manages the preparation and analysis of ALM reports based on
modeling results which could include coordination with 3 party
- Ensures completion of timely and quality analysis of behavior
assumptions associated with non-maturity instruments, loan
prepayments, and other financial instruments.
- Provides support for the Bank's planning process.
- Analyzes the liability structure of the Bank; review and
forecast the flow of funds into and out of the Bank.
- Provides support to the Enterprise Risk Management (ERM)
- Develops clear and effective presentations of highly technical
- Explores and develops new techniques which could open new
sources of funds or provide for existing funds at lower costs.
- Evaluates, in conjunction with senior management, the short-
and long-term funding needs of the Bank including the required
reserve position at the Federal Reserve.
- Reports ALM summary to the Board of Directors.
- Supports other functions related to liquidity and interest rate
risks for Bank and Corp as needed Overall Responsibilities:
- Leads, manages, and supervises professionals and exercises the
usual authority of a manager concerning staffing, performance
appraisals, promotions, salary recommendations, and
- Ability to think strategically as it relates to the role and
development of the Funds Management function.
- Advises management of current trends in national and
international economic and monetary policy.
- Serves on the Senior Management Committee and helps develop
longer term strategic plans for Bank and Corp.
- Completes all compliance training related to the position.
- Serves on other committees as needed.
- Ensures compliance with all bank policies and procedures, as
well as, all applicable state and federal laws and regulations that
apply to the position. NON-ESSENTIAL FUNCTIONS: Performs all other
duties as assigned. EXPERIENCE/SKILLS:
- Minimum of -ten (10) years Asset - Liability experience with
financial institutions preferred.
- Minimum of five (5) years of Bank Investment Portfolio
Management experience preferred.
- Minimum of five (5) years of management experience
- Strong working knowledge of the banking industry as it pertains
to profitability, various core product lines, fixed income and
asset liability management.
- Previous market experience - Investment decision, portfolio
strategy development, top-down fundamental / macro-economic
analysis and trade execution.
- Strong proficiency in database management and Structured Query
Language (SQL), asset/liability systems, Bank general ledger
packages along with spreadsheets and windows based operating
- Setting and modeling high performance standards and motivating
a team to achieve agreed-upon outcomes.
- Strong technical skills in finance and economics, portfolio
management as well as asset / liability management. Ability to
analyze information for interpretation and recommendations.
- Taking the initiative to get the job done in an effective and
efficient manner as well as directing change and developing new
methodologies in new areas.
- Ability to manage multiple tasks on a concurrent basis.
- Ability to effectively provide presentations; written, visual
and verbal to all levels of management and external entities
(regulators, auditors, and examiners). -
- Strong PC skills, including Microsoft Excel, Visual Basic, and
- Strong attention to detail and high degree of accuracy.
EDUCATION: Bachelor's degree required; in Finance, Economic,
Mathematics or other quantitative discipline preferred, MBA/CFA
professional certification preferred TRAVEL REQUIREMENTS: Ability
to travel to all locations as well as ability to travel over night,
as needed for meetings, projects, seminars, etc.
PHYSICAL: The physical demands described here are representative of
those that must be met by an employee to successfully perform the
essential functions of this job. Reasonable accommodations may be
made to enable individuals to perform the essential functions.
While performing the duties of this job, the employee is required
to sit, stand and walk; use hands and fingers to operate keyboard
and other office equipment; reach with hands and arms; and talk or
hear. The employee is occasionally required to stoop or kneel. The
employee may occasionally lift and/or move up to 10 pounds.
EQUIPMENT: MS Office PC, fax, phone and standard office equipment.
Equal Opportunity Employer/Protected Veterans/Individuals with
DisabilitiesThe contractor will not discharge or in any other
manner discriminate against employees or applicants because they
have inquired about, discussed, or disclosed their own pay or the
pay of another employee or applicant. However, employees who have
access to the compensation information of other employees or
applicants as a part of their essential job functions cannot
disclose the pay of other employees or applicants to individuals
who do not otherwise have access to compensation information,
unless the disclosure is (a) in response to a formal complaint or
charge, (b) in furtherance of an investigation, proceeding,
hearing, or action, including an investigation conducted by the
employer, or (c) consistent with the contractor's legal duty to
furnish information. 41 CFR 60-1.35(c)
Keywords: 1st Source Corporation, South Bend , Division Head, Funds Management, South Bend, IN, Accounting, Auditing , South Bend, Indiana
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