JOB SUMMARY
Manage the personnel and activities of the Finance and Investments Department to insure optimum efficiency and services.
DUTIES
1. Make routine employment decisions, reviewing performance and making salary recommendations.
2. Assign work, providing training, and guiding and advising subordinates as necessary.
3. Meet regularly with personnel in department to discuss and insure the resolution of questions and operating problems.
4. Analyze and evaluate existing operating policies, procedures, systems, schedules, and equipment.
5. Review and approve or reject major expenditures recommended by subordinates.
6. Establish objectives and operating standards for the department and insure that planned goals are achieved.
7. Maintain liquidity investment of the bank based on policies and objectives.
8. Assume responsibility for short- and long-range financial planning for the bank.
9. Assume responsibility for the sound recordkeeping of the bank consistent with sound accounting policy.
10. Monitor and control the applications of accounting principles used in the preparation of financial statements.
11. Direct all recording and management reporting.
12. Insure compliance with all bank cost control programs.
13. Provide income tax management and coordinate activities with outside tax experts.
14. Supervise investment portfolio and accounting.
15. Supervise shareholder accounting and administration.
ORGANIZATION
1. Initiate changes in the basic organization structure to accomplish the objectives developed with the Executive Vice President.
2. Activate new work procedures and systems to accomplish planning and bank development objectives more efficiently.
FINANCES
Prepare the annual budget for the Investment Department, administering allotted funds in accordance with the budget and approved fiscal procedures; recommend capital expenditures for planning and bank development.
RELATIONSHIPS
1. Responsible to Executive Vice President for the fulfillment of functions and responsibilities.
2. Advise and assist department managers, officers, and staff in their respective functions associated with the areas for which he or she has direct responsibility.
3. Will have extensive contact with customers, the public and the community, and is to conduct relationships in a manner that will enhance the overall marketing effort of the bank.
4. Will be called upon from time to time to participate with community organizations and in community projects.
JOB DESCRIPTION: Investments Officer DEPARTMENT/DIVISION: Finance and Investments REPORTS TO: Senior Vice President-Finance and Investments SUPERVISES: Secretary
Securities Clerk
JOB SUMMARY
Manage the Investment Portfolio of the bank in a manner which maximizes return while minimizing risk. Provide information to bank personnel about interest rates and participate in decisions involving rate sensitivity. Enhance image of bank in community and promote increases in commercial deposits and ancillary business.
DUTIES
1. Supervise investment portfolio activities.
2. Supervise investment portfolio personnel.
3. Initiate changes in asset structure and yield curve inflection.
4. Formulate interest rate models and methods to deal with each scenario.
5. Keep abreast of capital needs of commercial loan and operations divisions and plan portfolio accordingly.
6. Convey economic outlook and interest rate forecasts to other bank personnel.
7. Manage monthly Investment Policy Committee meeting which reviews all investment department activity.
8. Complete statistical and comparative analyses on a constant basis.
9. Work with computer programming as a tool.
10. Work with bank's general ledger concerning both income and assets.
11. Work with bank clearing, settlement, proof and operations divisions to maximize float on securities activities.
12. Complete purchase and sale activities with brokers.
13. Arrange settlements.
14. Deal with brokers and salesmen through constant telephone inquiries.
15. Deal with bank customers about financial affairs through telephone and personal contact.
16. Participate in certificate rate determinations as member of Fund: Liability Management Committee.
17. Supply material reviewed by #16.
18. Match assets in money market items to reflect specific short-tern certificates and repurchase agreements.
19. Read, review, analyze, and synthesize trade periodical material:
a. Research of approximately 40 brokerage houses.
b. 20 weekly and biweekly financial publications.
c. 10 commercial bank publications.
d. 5 legal or law review publications.
ORGANIZATION
1. Initiate changes in the basic organization structure to accomplish th< objectives developed with the Executive Vice President.
2. Activate new work procedures and systems to accomplish planning and bank development objectives more efficiently.
FINANCES
Prepare the annual budget for Finance and Investments Department, administering allotted funds in accordance with the budget and approved fiscal procedures; and, recommend capital expenditures for planning and bank development.
RELATIONSHIPS
1. Responsible to the Executive Vice President for the fulfillment of his or her functions and responsibilities.
2. Will advise and assist department managers, officers, and staff in their respective functions associated with the areas for which he or she has direct responsibility
3. Will have extensive contact with customers, the public and the community, and is to conduct relationships in a manner that will enhance the overall marketing effort of the bank.
4. Will be called upon from time to time to participate with community organizations and in community projects
JOB DESCRIPTION: Secretary DEPARTMENT/DIVISION: Finance and Investments
REPORTS TO: Senior Vice President-Finance and Investments SUPERVISES: Has no supervisory responsibility
JOB SUMMARY
General secretarial/clerical duties for Senior Vice President-Finance and Investments
DUTIES
1. Collate and mail customer statements.
2. File loose-leaf services.
3. Prepare time cards weekly on staff employees.
4. File and maintain Investment Strategy and Portfolio Goals book.
5. Arrange meetings and notify members of the Investment Committees.
6. Prepare pay for members of the Investment Committees.
7. Transcribe dictation and file administrative documentation for Senior Vice-President-Investments. 8. Transcribe monthly minutes of Investment Committees. 9. Insure completion of all initial documentation for new accounts opened by Senior Vice President-Investments.
10. Take offerings from brokers.
11. Report daily interest rates to Operations Department and New Accounts Department of the bank.
12. Open and distribute mail for Investments Department.
13. Contact various banks each Tuesday and Thursday to get rate information.
14. Telephone reception activities.
15. Clean Board of Directors' room before and after meetings held by Senior Vice President-Investments.
16. Type letters and memos for Investments Division.
17. Prepare and coordinate all material needed by Senior Vice President-Investments for various committee activities.
l8. Assist the Securities Clerk in all phases of work (general ledger, accruals, etc.), especially bidding of portfolio bonds and securities transactions.
19. Monitor and prepare subscriptions to investment periodicals.
20. Coordinate customer traffic to Investments Division and direct inquiries to proper person or area of the bank.
ORGANIZATION
Has an inherent duty and responsibility to make recommendations to supervisor concerning possible methods to improve department.
FINANCES
Has the responsibility to make recommendations to supervisor concerning the budgetary needs of the department.
RELATIONSHIPS
1. Responsible to the Senior Vice President-Finance and Investments for the fulfillment of functions and responsibilities.
2. Will have extensive contact with customers and the public, and is 0 conduct relationships in a manner that will enhance the overall marketing effort of the bank.
3. Will be called upon from time to time to participate with community organizations and in community projects.
JOB DESCRIPTION: Securities Clerk DEPARTMENT/DIVISION: Finance and Investments REPORTS TO: Senior Vice President-Finance and Investments SUPERVISES: Has no supervisory responsibility
JOB SUMMARY
Monitor, check, and implement all bank security purchases and sales
DUTIES
1. Send advices to safekeeping agents or give instruction by telephone for purchases and sales of securities.
2. Make all general ledger entries for investment portfolio.
3. Verify broker's figures on purchases and sales.
4. Maintain pledged security receipts and reports.
5. Handle computer maintenance of investment records.
6. Maintain files for portfolio.
7. Ship bonds and securities to safekeeping agents or to brokers or their agents
8. Ship securities to transfer agents for transfer of registered securities to ensure that interest payments are received on a timely basis.
9. Reconcile all investment accounts on general ledger with computer balances and with manual balances.
10. Take offerings from brokers, execute, and confirm trades when directed.
11. Acquire bids from brokers for portfolio securities to be sold and calculate yields on these bids.
12. Calculate and prepare Treasury Bill Futures Report daily and circulate to Auditor and periodically to President of bank.
13. Calculate and prepare Treasury Bill Futures purchase and sales forms.
14. Prepare Board of Directors Report monthly which summarizes all activity of the portfolio for the month.
15. Prepare maturity distribution report which is sent to Secretary of Board of Directors monthly.
16. Prepare weekly Location of Governments report used by senior management to secure funds in repurchase agreements and various public deposits.
17. Balance Federal Reserve Bank weekly statement to book-entry (i.e. government) securities.
18. Prepare U.S. Government Treasury Department report monthly.
19. Deposit and withdraw securities from vault on purchases, sales, and maturities.
20. Receive, post, and balance interest received for all securities.
21. Clip coupons held in local vault and send for collection.
22. Prepare pricing report monthly and distribute to Controller for preparation of liquidity report.
23. Acquire current financial information on bonds and securities held in portfolio.
24. Check portfolio for called bonds and send for collection to trustee bank when affected.
25. Contact correspondent bankers by phone and by letter to coordinate bond closings and other correspondent bank needs.
26. Balance broker's statements monthly and maintain files.
27. Check security safekeeping statements.
28. Occasionally prepare trust checks for clients and take instructions from clients concerning their accounts.
29. Refer clients to trust services, financial services, or other area of bank; i.e. recognize services available through commercial banking, trust banking, and investment banking.
30. Participate in obtaining rates and other material needed by Funds Management Committee.
ORGANIZATION
Make recommendations to supervisor about possible methods to improve department.
FINANCES
Make recommendations to supervisor about the budgetary needs of the department.
RELATIONSHIPS
1. Responsible to the Senior Vice President-Finance and Investment -for the fulfillment of functions and responsibilities.
2. Will have extensive contact with customers and the public, and is t conduct relationships in a manner that will enhance the overall marketing effort of the bank.
3. Will be called upon from time to time to participate with community organizations and in community projects.
