What are the responsibilities and job description for the Data Specialist position at First Mid?
At First Mid, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of discretionary short-term incentives (i.e. bonus, incentives, and/or commission). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, tuition reimbursement, an Employee Stock Purchase Plan, and a 401K plan with company match. Incentives and benefits are subject to eligibility requirements.
The Data Specialist is responsible for analyze and interpret complex financial data to provide insights and support decision-making within the organization. You will work closely with various teams, including Finance, Risk Management, Marketing, Bank Operation, Wealth Management, Insurance, Human Resource, etc. to enhance data-driven strategies and optimize financial processes. The role involves extracting, cleaning, and analyzing large datasets to identify trends, patterns, and opportunities for improvement.
Responsibilities include, but are not limited to:
- Gather data from various sources, including internal databases, external APIs, and 3rd party sources.
- Ensure the accuracy, completeness, and reliability of financial data by validating and cleansing datasets.
- Utilize statistical methods, and tools to analyze financial trends, performance, and risk factors.
- Develop and implement quantitative models to evaluate financial metrics and forecast future performance.
- Generate actionable insights through data visualization techniques, such as charts, graphs, and reports.
- Build and maintain financial models to support budgeting, forecasting, and scenario analysis.
- Conduct sensitivity analyses to assess the impact of various financial variables on business outcomes.
- Identify potential financial risks and propose mitigation strategies.
- Develop and maintain key performance indicators (KPIs) for financial performance evaluation.
- Prepare regular reports and dashboards for stakeholders, summarizing financial insights and recommendations.
- Work closely with cross-functional teams, including finance, accounting, and business operation, to understand their data needs and provide analytical support.
- Collaborate with other IT teams to ensure data integrity, security, and efficient data processing.
- Stay updated on industry trends, best practices, and emerging technologies in financial analytics.
- Propose and implement process improvements to enhance the efficiency and effectiveness of financial data analysis.
Qualifications
Education/Experience/Skills:
- Bachelor’s degree or equivalent work experience.
- 3 years’ experience as a data analyst in the financial services industry.
- Proficiency in data visualization tools (e.g., Power BI)
- Strong understanding of financial concepts, accounting principles, and regulatory requirements.
- Familiarity with machine learning algorithms for predictive analytics.
- Excellent analytical and problem-solving skills.
- Effective communication skills to convey complex data insights to non-technical stakeholders.
- Attention to detail and ability to work with large datasets.
- Knowledge of financial modeling and forecasting techniques.
Total Rewards:
- Competitive health, dental & vision coverage with HSA match
- 401(k) with employer match Employee Stock Purchase Plan
- Generous PTO, paid holidays & parental leave
- Tuition reimbursement & performance-based bonuses
- Visit our Total Rewards page to see our full list of benefits
First Mid Bancshares, Inc. is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, gender identity, sexual orientation, protected veteran status, or any other applicable federal or state-protected classification.
THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT