Financial Analyst

Description

Job Title: Financial Analyst

Department: Accounting

Reports To:  Vice President, Risk and Revenue

Location: Worcester, MA (onsite)

About Webster First Federal Credit Union

Established in 1928 and driven by a goal to make life more comfortable for our community, Webster First Federal Credit Union has grown to an over one-billion-dollar financial institution, serving over 90,000 members across our banking and lending services. Our mission is to leverage who we are as a credit union to empower our members to live their best financial lives. We focus on members, not profits, and our values of strength, exceptional service, and “New England authenticity” are at the heart of everything we do.

We can’t do it without an exceptional workforce! With approximately 250 employees spread across 15 locations in Massachusetts, Webster First Federal Credit Union is committed to empowering a diverse and inclusive workforce that is representative of the community we serve. Our members come from all walks of life and, not unintentionally, so do our staff. We hire great people from a wide variety of backgrounds, not just because it’s the right thing to do, but because it makes us stronger.

Summary

The Financial Analyst supports strategic decision-making by providing timely financial analysis, forecasting, and reporting to senior leadership. This role leverages internal and external data to evaluate financial performance, monitor liquidity, assess risk, and analyze product and vendor opportunities.

Essential Duties and Responsibilities

• Monitor and manage liquidity by maintaining cash management spreadsheets for loans, deposits, and investments; review and present results to management.
• Maintain, refine, and update corporate financial models and multi-year plans to support organizational decision-making.
• Conduct financial analysis to support the pricing of new products and services, incorporating member demographics, competitive benchmarks, and projected rate changes.
• Evaluate the financial stability of prospective and current vendors to support sound business decisions.
• Analyze key financial ratios to benchmark Credit Union performance against peer institutions of similar size.
• Track and monitor loan loss reserves, assessing delinquency trends, market conditions, and forward-looking expectations.
• Review and project branch-level profitability, identifying trends and opportunities for improvement.
• Compile, analyze, and present month-end financial data in partnership with the Accounting Department.
• Develop financial forecasts and conduct trend analyses to inform strategic planning.
• Support internal and external audits, annual budgeting, and enterprise-level strategic planning processes.
• Prepare monthly and quarterly Board and regulatory reports (e.g., Call Reports).
• Translate findings into actionable recommendations and insights to guide senior leadership decisions; perform additional analyses as needed.
• Promotes overall BSA compliance by adhering to all BSA and OFAC regulations specific to the job function and assisting the Credit Union’s BSA department as necessary with any departmental function specific items. 
• Actively promotes the security and privacy of member and employee information through adherence to both information security and physical security policies, procedures, and governing regulations.  Training will be completed at least annually for Information Security topics, BSA, and GLBA; annual BSA training will be position specific.  Annual training will also include courses on any of the following regulations as they relate to the position described herein: SAFE ACT, Regulations B, C, D, E CC, DD, and Z as well as any training deemed necessary to promote adherence to applicable regulatory requirements.
• Perform other duties as directed.

Qualifications/Requirements

• Strong analytical mindset with proven ability to interpret financial data, identify trends, and build robust financial models.
• Advanced proficiency in Microsoft Excel and solid working knowledge of other financial reporting and presentation tools (PowerPoint, Word, Teams); familiarity with data visualization or business intelligence tools (e.g., Power BI, Tableau) a plus.
• Excellent verbal and written communication skills, with the ability to distill complex financial information into clear, actionable insights for executives and non-financial audiences.
• Highly organized and detail-oriented, with the ability to manage multiple priorities, meet deadlines, and adapt in a fast-paced environment.
• Strong problem-solving skills, intellectual curiosity, and sound judgment in evaluating financial and operational data.
• Collaborative team player with the ability to partner effectively across departments and influence decision-making at all levels of the organization.

Education/Training Experience

• Bachelor’s degree in Finance, Accounting, Economics, or related field
• 1–3 years of relevant financial analysis experience

Physical Demands & Work Environment

This role primarily takes place in a professional office environment and involves sedentary work, at a desk or teller station, using a computer, and engaging in phone or video conversations. The noise level is generally moderate. Employees may need to sit or stand for extended periods, move about the office, and occasionally lift, push, pull, or carry items up to 20 pounds. Some repetitive motion including movements (motions) of the wrists, hands, and/or fingers. Employees are required to have visual acuity to perform activities such as transcribing, viewing and using a computer, and reading documents, as well as the ability to communicate verbally with colleagues, supervisors, members, and visitors. Reasonable accommodations will be provided as needed.

Qualifications