Financial Risk & Data Analyst

• Location 81 Wyman Street,Waltham, MA, 02451,United States
• Base Pay $90,000.00 - $ / Year
• Job Category Accounting
• Employee Type FT Exempt

POSITION:
Financial Risk and Data Analyst

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well‑being. We are committed to exceeding expectations and having a strong commitment to diversity. The Financial Risk and Data Analyst plays a key role in supporting the Bank’s Allowance for Credit Losses (ACL) process under CECL (ASC 326) while also contributing to broader financial reporting, accounting, and regulatory reporting functions.

This role is ideal for a versatile accounting/finance professional who can balance technical CECL responsibilities with hands‑on involvement in the monthly close, financial reporting, and regulatory filings typical of a community banking environment.

This position partners closely with Accounting, Credit, Treasury, and Risk to ensure accurate, timely, and well‑controlled financial reporting.

• Support the preparation and ongoing maintenance of the Bank’s CECL model and ACL calculation.
• Prepare loan portfolio segmentation, qualitative factor analysis, and incorporation of economic forecasts.
• Perform variance analysis on ACL results, including period‑over‑period changes and forecast vs. actual comparisons.
• Maintain CECL documentation, assumptions, and methodology in alignment with audit and regulatory expectations.
• Partner with Credit and Risk teams to incorporate portfolio trends and credit quality indicators into loss estimates.
• Assist with the monthly and quarterly close process, including journal entries, reconciliations, and supporting schedules.
• Prepare and review financial statement components and internal management reports.
• Support Call Report preparation and other regulatory filings.
• Contribute to preparation of audited financial statements and footnote disclosures, including ACL‑related disclosures.
• Analyze financial results and provide insights into key drivers of performance.

• Extract, validate, and reconcile loan and financial data used in CECL and reporting processes.
• Assist in maintaining strong internal controls over financial reporting, including documentation and testing support.
• Identify opportunities to automate or streamline reporting and CECL processes.
• Support data governance and integrity initiatives in partnership with IT and Finance.

• Maintain accurate loan files and system records, including decisions and condition tracking throughout the loan lifecycle.
• Work closely with Accounting/Finance leadership on reporting deliverables and special projects.
• Collaborate with Lending and Credit teams to understand portfolio activity and emerging risks.
• Support external audits, internal audits, and regulatory exams by preparing schedules and responding to requests.
• Provide ad hoc financial analysis as needed.

Perform additional duties as required.

• Bachelor’s degree in Accounting, Finance, or related field.
• 2–5 years of experience in accounting, financial reporting, banking, or credit analysis.
• Experience in a bank or financial institution strongly preferred (community bank experience a plus).
• Working knowledge of CECL (ASC 326) or strong willingness to learn.
• Solid understanding of financial statements and accounting principles (U.S. GAAP).
• Advanced Excel skills (data analysis, pivot tables, modeling).
• Experience with banking systems, general ledger platforms, and/or CECL software a plus.
• Strong attention to detail and accuracy.
• Ability to manage multiple responsibilities in a deadline‑driven environment.
• Analytical mindset with the ability to interpret financial and credit data.
• Strong communication skills—able to explain financial concepts clearly to non‑finance partners.

Location: Hybrid/Waltham, MA Salary Range: $90,000 – 110,000

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $90,000 – 110,000. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the…