Investments and Treasury Officer

Our Company

At FirstBank PR, we strive to be a trusted advisor to our clients and our employees are the ones that ensure we deliver on our promise of excellence in personalized customer service. Our more than 3,100 employees in Puerto Rico, the Virgin Islands and Florida share a passion for excellent customer service. We are proud of our team because they are continuously surpassing our client’s expectations.

A Brief Overview

An officer part of the Treasury and Investments team that: Actively collaborates in the management of the investment and funding portfolios of the Bank and its subsidiaries. Performs research related to transactions and strategies that add value to the management of investments and liquidity, and overall return of the corporation.

Collaborates in profitability analysis of the Bank’s different loan and funding products.

What you’ll do

Liquidity management and reporting

· Manage the daily cash position of the Bank and its subsidiaries.

· Stay abreast of the liquidity early warning indicators.

· Promptly communicate knowledge of any indicator of impending liquidity risk.

· Prepare cash flow forecasts.

· Monitor total liquidity levels and factors affecting it, such as: maturities schedules, investments and funding call probability, brokered CDs, Regular & Structured Repurchase Agreements, Federal Home Loan Bank Advances, among other.

· Manage the cash position to fund the Corporation’s different funding accounts:

· Monitor redemptions and interest payments (incoming & outgoing)

· Monitor pending settlements, (e.g. trades, calls, maturities on asset and liabilities)

· Execute, confirm, and prepare trade tickets and monitor safekeeping.

· Monitor the payment of dividends for Common Stock, Preferred Stocks and Trust Preferred Securities

Funding analysis and reporting

· Coordinate and perform financing transactions for the Bank and its subsidiaries, including repurchase agreements, brokered certificates of deposit, and other wholesale funding instruments, including FHLB Advances, and Fed Advances

· Assist in the communication of deposit pricing strategies, as well as evaluate pricing exceptions.

· Maintain adequate communication with investment and funding counterparties.

· Recommend funding alternatives.

· Analyzes Brokered CD rates indications for funding opportunities.

· Perform overall Bank cost of funds analysis.

· Evaluate Brokered CD’s structures to issue depending on interest rate risk management, cash flow needs, and market economics.

· Analyze Structured Repo rates and suitability.

· Analyze core deposits concentration, taking into consideration the maturity of the branch CDs with significant amounts, including US jumbo deposits.

· Monitor the different regions loans/disbursements funding needs.

Collateral management and reporting

· Prepare collateral reports with securities available to pledge.

· Manage indications from counterparts regarding financing of available collateral (repo rates)

· Manage margin calls by covering exposure or calling excess with counterparts.

· Monitor secondary markets department in-transit collateral reports for FHLB availability.

· Monitor and manage collateral pledges for the Federal Reserve Borrowing-in-Custody (BIC) program.

· Manage Public Funds collateral for all the Bank’s regions.

· Direct communication with The Secretary of the Treasury Department

· Direct communication with Citibank Puerto Rico (custodial for PR collateral)

· Direct communication with the Fed Reserve NY (custodial for VI collateral)

Investments portfolio management and analysis

· Research and analyze the full spectrum of investment securities including but not limited to:

• Provide conclusions and new ideas derived from the research and analysis to the Senior Investments Officer and Treasurer

• Analyze and perform buy and sell transactions of fixed income securities at an institutional level, subject to compliance with policy guidelines and Committees approvals.

• Conduct Investments performance evaluation.

  Economic analysis and market research

  · Monitor economic indicators and interest rates to maintain up to date market information and to be able to provide guidance for investment and funding strategies, as well as provide information through investment committee reports.

  · Follow and recognize changes in interest rate monetary policy by the Federal Open Market Committee (FOMC), including the Federal Funds Target Rate and the Discount Rate, and the Prime Rate

  · Keep abreast of investment management technology and market evolution through self-study.

  Interest rate analysis

  · Analyze interest rate forecasts to assist in the management of the balance sheet risks, as estimated by the Financial Analysis Department team.

  · Evaluate and monitor lending product pricing (e.g. credit cards, mortgage loans) to assure adequate profitability metrics.

  · Provide support to the business efforts of other departments of the Bank such as Corporate Banking, Government and Institutional Banking, Retail Banking, Mortgage Department, internal and external audits, and others, including:

  · Analyze different derivative instruments, to effectively manage the Bank’s exposure to interest rate risk as directed by upper management’s strategies; including, but not limited to IR swaps, IR Caps, IR Floors, Options

  · Provide hedging ideas to manage interest rate risk by using derivatives in other instruments such as Structured Repos and Advances

  · Provide support to the Corporate Lending units to structure interest rate risk hedges.

  · Trade with approved derivatives counterparts

  Reporting

  · Prepare reports and presentations on different aspects of investment and funding portfolios, the economy, and the capital markets.

  · Collaborate in the preparation of ALCO and BODALCO reporting packages.

  Operational tasks

  · Participate in special projects of the Investments and Treasury department, as needed.

  · Perform filing and safekeeping tasks.

  · Write letters and memos.

  · Prepare trade tickets for all the transactions.

  · Revise and confirm transactions.

  · Internal client service

  · Promptly attend to auditors’ requests for information

  · Prepare economic indications and other presentations.

  · Entertain and tend to Broker calls and visits.

  What You’ll Need to Succeed

  · Bachelor’s or master’s degree in finance and 1-2 years of experience.

  · Chartered Financial Analyst designation preferred.

  · Or the equivalent combination of Education and Experience needed to be able to perform the functions of this job.

  The competencies detailed below are the behaviors to be exhibited by the incumbent while performing his/her duties as relates to our corporate values, culture, and philosophy.

  · Customer service: Manages difficult situations with internal customers and responds promptly to their needs.

  · Teamwork: Contributes to building a positive team spirit

  · Ethics: Treats people with respect; keeps commitments; inspires the trust of others; works with integrity and ethically; and upholds organizational values

  · Innovation: generates suggestions for improving work; meets challenges with resourcefulness; and develops innovative approaches and ideas

  · Quality: demonstrates accuracy and thoroughness and looks for ways to improve and promote quality

  · Computer literate (Word, Excel, PowerPoint, Outlook)

  · Excellent verbal and written communication in both English and Spanish.

  · Good managerial skills

  · Technical knowledge of capital markets and mathematical concepts of risk and return specifically applicable to the management of fixed-income portfolios and bank funding and profitability.

  · Knowledge of macro-economic concepts and dynamics

  · Working knowledge of the Bloomberg market information and trading system

  · Working knowledge of rules and regulations governing the treasury and investments management operations

  First Bank Puerto Rico is a proud to be an Equal Employment Opportunity Employer and takes affirmative action to employ Women, Protected Veterans, People with Disabilities and Minorities regardless of gender identity, sexual orientation, and any other legally protected status.