Rockland Trust
CECL Manager
Rockland Trust, Brockton, Massachusetts, United States, 02411
Rockland Trust is seeking a detail-oriented and experienced CECL Manager to lead our Company's Allowance for Credit Losses (ACL) Program. This role involves overseeing the ongoing management of the Current Expected Credit Loss (CECL) accounting standard in alignment with our ACL Policy. The ideal candidate will manage staff, processes, and technology solutions related to CECL models, ensuring compliance with accounting standards and regulatory requirements while providing strategic insights to support the Company's financial health.
Key Responsibilities:
Oversee all aspects of the ACL Program to ensure effective execution and compliance.Regularly review and recommend changes to the ACL Program and Policy.Lead the development, validation, and maintenance of CECL and credit loss models.Analyze data to forecast expected credit losses and recommend quarterly provision amounts.Ensure CECL processes comply with regulatory and accounting standards (e.g., FASB, SEC).Maintain key control activities relevant to SOX and the Bank's Enterprise Risk Management Framework.Prepare detailed reports for internal and external stakeholders, including regulators and auditors.Collaborate with departments to communicate CECL findings and implications.Advise executive leadership on credit loss methodologies and loan loss reserves.Lead the monitoring of models used for expected credit loss estimation.Conduct scenario analysis to estimate the effects of changes in forecasts and assumptions.Support capital planning processes by modeling credit losses under stress scenarios.Identify and implement process improvements and best practices in CECL management.Develop training programs for key stakeholders on CECL requirements and methodologies.Maintain documentation of portfolio data assumptions and collaborate with data and technology teams.Provide subject matter expertise on CECL-related issues, partnering closely with the Controller and Principal Accounting Officer.Stay current on industry developments and provide recommendations for continuous improvement.Collaborate with IT to ensure systems incorporate appropriate data inputs and information security controls.
Required Skills/Abilities:
Proficiency in financial modeling, statistical analysis, and relevant software tools (e.g., Excel, SAS, R, Python).Strong understanding of the CECL accounting standard and relevant accounting standards (e.g., GAAP).Excellent analytical and problem-solving skills.Effective communication and presentation skills, including interactions with senior executives.Experience with allowance for loan loss accounting and credit loss modeling.Strong leadership and team management abilities.Strategic vision and change management experience.
Education and Experience:
Bachelor's degree in Finance, Accounting, Economics, or a related field (Master's degree or professional certifications preferred).Minimum of 7-10 years of experience in credit risk management, financial modeling, or a related field.
Our goal is to offer our colleagues the most generous benefits package possible. We strive to provide colleagues with a comprehensive benefits package and an environment that supports a healthy work-life balance. Colleagues who work 20 hours or more per week are eligible to participate in our health insurance program. Other benefits include: Competitive compensation with performance incentive awards, Dental Insurance, a 401K and DC Plan for your retirement, Life Insurance, Vacation Time, Day Care Reimbursement, Tuition Assistance for graduate and undergraduate programs, an award-winning Wellness program, and much more!
At Rockland Trust you'll find a respectful and inclusive environment where everyone is given the chance to succeed. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, marital status, national origin, disability status, protected veteran status, or any other characteristic protected by law.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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Key Responsibilities:
Oversee all aspects of the ACL Program to ensure effective execution and compliance.Regularly review and recommend changes to the ACL Program and Policy.Lead the development, validation, and maintenance of CECL and credit loss models.Analyze data to forecast expected credit losses and recommend quarterly provision amounts.Ensure CECL processes comply with regulatory and accounting standards (e.g., FASB, SEC).Maintain key control activities relevant to SOX and the Bank's Enterprise Risk Management Framework.Prepare detailed reports for internal and external stakeholders, including regulators and auditors.Collaborate with departments to communicate CECL findings and implications.Advise executive leadership on credit loss methodologies and loan loss reserves.Lead the monitoring of models used for expected credit loss estimation.Conduct scenario analysis to estimate the effects of changes in forecasts and assumptions.Support capital planning processes by modeling credit losses under stress scenarios.Identify and implement process improvements and best practices in CECL management.Develop training programs for key stakeholders on CECL requirements and methodologies.Maintain documentation of portfolio data assumptions and collaborate with data and technology teams.Provide subject matter expertise on CECL-related issues, partnering closely with the Controller and Principal Accounting Officer.Stay current on industry developments and provide recommendations for continuous improvement.Collaborate with IT to ensure systems incorporate appropriate data inputs and information security controls.
Required Skills/Abilities:
Proficiency in financial modeling, statistical analysis, and relevant software tools (e.g., Excel, SAS, R, Python).Strong understanding of the CECL accounting standard and relevant accounting standards (e.g., GAAP).Excellent analytical and problem-solving skills.Effective communication and presentation skills, including interactions with senior executives.Experience with allowance for loan loss accounting and credit loss modeling.Strong leadership and team management abilities.Strategic vision and change management experience.
Education and Experience:
Bachelor's degree in Finance, Accounting, Economics, or a related field (Master's degree or professional certifications preferred).Minimum of 7-10 years of experience in credit risk management, financial modeling, or a related field.
Our goal is to offer our colleagues the most generous benefits package possible. We strive to provide colleagues with a comprehensive benefits package and an environment that supports a healthy work-life balance. Colleagues who work 20 hours or more per week are eligible to participate in our health insurance program. Other benefits include: Competitive compensation with performance incentive awards, Dental Insurance, a 401K and DC Plan for your retirement, Life Insurance, Vacation Time, Day Care Reimbursement, Tuition Assistance for graduate and undergraduate programs, an award-winning Wellness program, and much more!
At Rockland Trust you'll find a respectful and inclusive environment where everyone is given the chance to succeed. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, marital status, national origin, disability status, protected veteran status, or any other characteristic protected by law.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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