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Financial Business Analyst

Company Description

For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive.

Job Description

Financial Analyst (FA) will work within Treasury Management Products, Sales and Services unit of IDBNY. The role will be focused on gathering business requirements from users, analyzing the need, creating business requirement documents and designing solutions while partnering with other stakeholders.. The FA will create senior management reporting packages around revenue, KPIs, sales in pipeline, transactional risk, etc.

Job Duties

  • Analyzes, specifies, validates and identifies trends in production, gaps, areas for improvement, and overall monitoring and defining key performance indicators as per business needs.
  • Facilitates meetings with the appropriate subject matter experts in both business and support teams to determine project scope and solution.
  • Creates, maintains and extracts Daily/Monthly/Quarterly/Ad-Hoc business analytics and management reports for Treasury Management Product, Sales and Service units (financials, P&L, dashboards, productivity reports, Sales tracking, etc.) as well as supporting Internal Audit’s needs.
  • Reviews exception reports tied to client transactions
  • Creates process flow diagrams, charts, and other types of system or process representations.
  • Performs analysis to determine and verify business requirements.
  • Creates and/or maintains documentation (including internal procedures) using best practices.
  • Work with IT team and Vendors to create and/or setup reports required by Line of Business for an insight on client’s transactional activity.
  • Optimizing Treasury Solution forms for both commercial and consumer applications.
  • Work with Marketing team to improve product marketing materials, forms and sell-sheets.
  • Aid in developing data analytics to support cross-sell efforts with the business units.
  • Participates in internal activities, testing and initiatives aimed at enhancing client experience, data integrity, optimizing workflows, case management processes etc.
  • Partners with the Business and support teams  to establish protocols like procedures, review methods and process gaps in day to day business activities, operational handling and client servicing.

 

Qualifications

  • 3+ years of experience as a Financial or Business Analyst in the financial services or banking industry
  • Strong technical skills including Excel, Visio, Word and PowerPoint
  • Knowledge of PowerBI, PowerQuery is a plus but not required
  • Prior experience with Salesforce and Core Banking systems is beneficial but not required.
  • Experience with designing business solutions around performance metrics
  • Accomplished in using best practices for gathering and documenting complete and detailed requirements.
  • Knowledge of Treasury Management Products and Solutions
  • Experience working with 3rd party vendor solutions
  • Strong oral and written communication skills
  • Able to handle multiple tasks with prioritization skills.
  • These qualities are required to be successful in this role: analytical mind set, proactive approach, self-driven and detail-oriented.
  • Salesforce experience is “strongly desired”
  • Advanced MS Excel skills (formulas, etc.)

 

Compensation

The expected annual salary for this position is between $85,000 and $100,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.

Additional Information

The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank:

  • Those with a known mental or physical disability.
  • Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.
  • Victims of domestic violence, sex offenses or stalking.
  • Employees with religious observance and practice obligations.

Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer.

The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law.

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

All your information will be kept confidential according to EEO guidelines.

We are operating on a hybrid schedule. 

NO AGENCIES PLEASE.

IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.

Average salary estimate

$92500 / YEARLY (est.)
min
max
$85000K
$100000K

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What You Should Know About Financial Business Analyst, IDB

At IDB Bank in New York, NY, we're searching for a Financial Business Analyst to join our dynamic Treasury Management Products, Sales and Services team. For over 70 years, we’ve committed to putting our clients first, and you’ll be working alongside some of the most talented professionals in the banking industry. In this role, you will be at the forefront of gathering business requirements and creating solutions that enhance our services. You'll analyze trends, identify areas for improvement, and work closely with various stakeholders to deliver comprehensive reports that include metrics like KPIs and revenue projections. Your contributions will shape how we optimize our treasury solutions, improve product marketing, and support internal audits. To succeed, you should bring at least three years of experience in financial analysis and be skilled in Excel, as well as having familiarity with tools like PowerBI and Salesforce a plus. Here at IDB, we pride ourselves on our collaborative environment and exceptional service, and you’ll find a wide array of benefits including generous paid time off and a comprehensive medical plan. Join us in a place where your skills will be valued and where your career can grow while helping us continue to serve our clients with excellence.

Frequently Asked Questions (FAQs) for Financial Business Analyst Role at IDB
What are the main responsibilities of a Financial Business Analyst at IDB Bank?

As a Financial Business Analyst at IDB Bank, your main responsibilities will include gathering business requirements, analyzing trends, and creating management reports for Treasury Management Products. You will also facilitate meetings with stakeholders, create documentation, and work with the IT team to optimize client transaction reporting.

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What qualifications do I need to become a Financial Business Analyst at IDB Bank?

To qualify for the Financial Business Analyst role at IDB Bank, candidates should have at least three years of experience in financial services, strong technical skills in Excel, and knowledge of PowerBI. Familiarity with Salesforce and Treasury Management Products is a plus, along with excellent communication skills ensuring effective collaboration across teams.

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How does IDB Bank support the growth of Financial Business Analysts?

IDB Bank supports the growth of Financial Business Analysts through a comprehensive benefits package, ongoing professional development opportunities, and a collaborative environment that encourages innovation and teamwork. The strong emphasis on diversity and inclusion also provides a supportive backdrop for personal and professional advancement.

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What tools and software do Financial Business Analysts at IDB Bank use?

Financial Business Analysts at IDB Bank primarily use Excel for data analysis, along with tools like Visio for process flow diagrams. Experience with tools such as PowerBI, PowerQuery, and Salesforce is also advantageous for optimizing reports and supporting the business's analytical needs.

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What does the work environment at IDB Bank look like for a Financial Business Analyst?

The work environment at IDB Bank for a Financial Business Analyst is dynamic and collaborative, with a focus on teamwork and client service. IDB promotes a respectful and inclusive workplace where every team member is empowered to contribute meaningfully to the organization's success.

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Common Interview Questions for Financial Business Analyst
Can you describe your experience with financial analysis tools as a Financial Business Analyst?

When answering, highlight your familiarity with tools like Excel, PowerBI, and Salesforce. Discuss specific instances where you utilized these tools to drive insights or improve business processes, emphasizing your analytical skills and outcomes achieved.

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How do you gather and document business requirements effectively?

Explain your systematic approach to gathering business requirements, such as conducting interviews with stakeholders, facilitating workshops, and using best-practice documentation methods. Include examples of how you've improved this process in past roles.

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What methods do you use to analyze trends in financial data?

Share your preferred techniques for analyzing financial data trends, such as using descriptive statistics, data visualization tools, and developing dashboards. Provide examples of how your analysis has led to actionable insights.

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Describe a challenging project you managed and how you overcame obstacles.

Discuss a specific project where you faced challenges, detailing the steps you took to address those issues. Focus on your problem-solving skills and ability to collaborate with other team members or stakeholders to achieve project goals.

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How do you prioritize tasks when managing multiple projects as a Financial Business Analyst?

Discuss techniques you use for prioritization, such as identifying key deadlines, assessing the impact on the business, and aligning tasks with strategic goals. Emphasize your organizational skills and adaptability in high-pressure environments.

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What do you know about Treasury Management Products, and why are they important?

Provide a brief overview of Treasury Management Products and their role in optimizing cash flow and managing liquidity for businesses. Highlight your knowledge of specific products or solutions you've worked with.

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How do you ensure accuracy in your financial reports?

Explain your attention to detail and the steps you take to review data and reports thoroughly. Discuss the importance of checks and balances in data processes to maintain high accuracy levels.

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Can you give an example of how you’ve collaborated with IT teams in the past?

Share a relevant experience where you partnered with IT to effectively implement a financial solution or reporting tool. Emphasize your communication skills and ability to translate business needs into technical requirements.

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What approach do you take when presenting financial findings to senior management?

Discuss your preparation process, focusing on tailoring your presentation to your audience. Highlight the importance of clarity, visual aids, and anticipating questions to engage senior management effectively.

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How do you maintain knowledge of industry trends and updates relevant to your role?

Share your strategies for staying informed about industry trends, such as following financial news sources, participating in professional organizations, and attending relevant webinars or conferences. Show your commitment to continuous learning.

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The Institute for Defense and Business (IDB) delivers educational programs and research to teach, challenge, and inspire leaders who work with and within the defense enterprise to achieve next-level results for their organization. IDB features cur...

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Full-time, hybrid
DATE POSTED
December 5, 2024

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