Provides primary support to the FA program, approximately $2.9 billion of Assets Under Management (AUM) and $38 million annual operating gain. This includes issuing FA’s with the FHLB, communicating FA activity to Accounting, calculating and paying interest, executing cash movements related to the program and record keeping/database management.
Coordinates with FWIA and Eagle on investment opportunities for new funding agreements and makes recommendations to the AVP; evaluates trade ideas considering FHLB rate specials, duration/ALM, return on capital (ROE), credit and collateralization.
Prepares financial reports and performance metrics for management.
Provides emergency liquidity to WSFG via draws with FHLB.
Monitors FHLB membership and activity stock per member insurance company to ensure adequate levels are maintained.
Determines eligible, pledgeable collateral within an inventory of approximately $18 billion of fixed-income investments.
Monitors sufficiency and contingency of collateral.
Recalls/replaces/pledges collateral with FHLB as needed.
Executes principal and interest sweeps on collateral held by the FHLB; coordinates reconciliations with Investment Accounting.
Assists the Cash Management team, in a backup capacity, on business days in which the group is short-staffed due to unforeseen illness, PTO, or FMLA.
Analyzes cash flows to determine the current day cash position of assigned companies in the Enterprise. Communicates cash position information for assigned life insurance companies to FWIA within a very restricted timeframe. For non-life (Eagle and IFS) companies, executes money market transactions to invest excess cash or cover cash deficits.
Confirms and updates Treasury workstations and information on pending trades, including pending purchases and sales of stocks, bonds, mortgages and real estate.
Initiates electronic funds transfers for payroll corrections, concentration of district office funds, funding of retained asset activity, and movements of premium received at WSLIC to the correct life insurance companies. Handles ADP payroll funding duties and subsidiary reimbursements of intercompany payables. Notifies subsidiaries of reimbursement requirements and prepares requested funds transfers.
Coordinates the transfer of funds for various subsidiaries within the Enterprise.
Ascertains the impact of late-day cash or problem trade settlements and applying strong decision-making skills in implementing a course of action.
Backs up Securities Lending program by monitoring lender activity to ensure compliance with collateral requirements, lending guidelines, collateral reinvestment guidelines, and tax requirements surrounding dividend received deductions. Coordinates with custodian bank, the lending agent and third party consultants on lending benchmark studies and industry trends.
Assists with preparation of QBR and monthly EBR for CEO and CFO when needed.
Assists with procedures required for the Securities on Deposit program, which allows various insurance entities to sell insurance in a specific state, by monitoring pledged investments, coordinating with Compliance on state regulations and recommending highest earning pledged investments within law.
Assists with negotiation and execution of lines of credit when needed
Interacts directly with outside investment bankers, commercial bankers, regulators and government employees.
Leads and performs Treasury projects and financial analyses as requested by AVP.