at Old National Bank in ChicagoChicago, Illinois, United States
Job Description
ACL Analyst
Job Locations
US-IL-Chicago | US-IN-Evansville
Category/Function
Accounting/Audit
Position Type
Regular Full-Time
Requisition ID
2023-13231
Workplace Type
On Site
Overview
Old National Bank has been serving clients and communities since 1834. With $48 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.
Our team members are our greatest asset, and we continually invest in their growth and development. We offer a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.
We currently have an open position for an Allowance for Credit Losses Consultant. The Accounting department is part of the broader Corporate Controller organization under the jurisdiction of the Chief Accounting Officer at Old National Bancorp (ONB). The Controllership group provides accounting compliance and oversight for all transactions, ensuring appropriate accounting treatment, adherence to internal controls and accurate financial statement reporting and presentation. The Accounting department is seeking an Allowance for Credit Losses Consultant to assist in our duties as a valued business partner, providing timely and accurate validation, modeling and close process support. The successful candidate will gain exposure and many opportunities to engage with the various cross-functional groups including but not limited to Credit, Operations, Finance, external auditors, and the Lines of Business which the Controllership group supports. To be considered for this role, candidates must have a basic understanding of US GAAP, possess strong time management and analytical skills, and be detail oriented.
Responsible for general accounting duties for Old National Bank related to the allowance for credit losses ("ACL"), acquired loan accounting, and technical accounting matters. Including, but not limited to, current expected credit ("CECL") modeling, data validation, supporting monthly and quarterly closing processes, and preparing technical accounting memorandums.
This position will primarily work with the staff and management in Accounting and Finance, Financial Reporting, Treasury, Financial Analysis, Credit Administration, and Tax.
Key Accountabilities
Accounting Activities:
Support the monthly and quarterly closing process which includes maintaining the monthly close checklist for expected credit losses and acquisition loan accounting, including purchase credit deteriorated assets
Assist with the documentation, modeling, and validation of CECL, including quantitative and qualitative components
Preparation of ad hoc technical accounting memorandums supporting the analysis of accounting and financial reporting standards in accordance with generally accepted accounting principles
Report Activities:
Preparation of financial reports and analysis related to CECL and acquired loan accounting, including purchase credit deteriorated assets
Fulfillment of periodic reporting/data requests for the Financial Reporting department, auditor, or examiner, etc.
Assist in the preparation of credit metric budgets and forecasts
Prepares ad hoc analysis of credit performance and acquisitions
Guide Accounting Staff:
Review of Monthly and Quarterly Operational Reports and address any questions or concerns
Partner with accounting staff to prepare and review technical accounting memorandums
Other Duties:
Assist in building and maintaining a teamwork environment
Key Competencies for Position
Promotes Change - Actively seeks information to understand the rationale, implications, and impact for changes. Remains agile by quickly modifying daily behavior, leveraging resources, and trying new approaches to effectively embrace change. Willing to act quickly, learn, and adjust as needed. Identifies and recommends changes to leadership to improve performance.
Makes Decisions & Solves Problems -Takes ownership of the problem while collaborating with others on a resolution with an appropriate level of urgency. Collaborates and seeks to understands the root causes of problems. Evaluates the implications of new information or events and recommends solutions using decisions that are sound based on what is known at the time. Takes action that is consistent with available facts, constraints and probable consequence.
Delights Clients - Passionately serves internal/external clients with excellence. Maintains a growth mindset staying current with developments and trends in areas of expertise influencing client satisfaction. Understands data,... For full info follow application link.
EOE/Minorities/Females/Vet/Disability
