Divisional Accounting Liaison - Wealth

Company Overview:

Peapack Private Bank & Trust is a leader in wealth, lending and deposit solutions. At Peapack Private, our clients are cared for by a single point of contact and are served by empowered employees who consistently go above and beyond to provide exceptional service and offer a boutique private banking experience.

What makes Peapack Private different? We are an institution that has always believed in putting the well-being and needs of our employees and our clients first. We are proud to be recognized for the seventh consecutive year by American Banker as one of the "Best Banks to Work For" across the nation. In addition, we were selected as Crain's Best Places to work in NYC for our inaugural year, 2024. Our secret sauce in one word is our 'culture'.

At Peapack Private, we value a diverse and inclusive workspace, deeply committed to growing leaders at all levels of the organization thorough mentorship, career pathing, and professional development. There are multiple ways to build relationships and get involved - from joining our Cultural Ambassador Committee focused on areas like Wellness, Fun, Inclusion, or Environmental Awareness - to involvement in community service activities through Volunteerism. Said quite simply, the culture and the people who work here are amazing!

Position Overview:

Responsible for acting as the primary liaison between Finance and all departments of the Bank. This includes responding to accounting and operational questions / issues received from the various Operations areas (e.g., Loan, Deposit / Escrow, Wealth and Treasury Management). Evaluating these issues with respect to how they impact the Bank's financial statements. Primary responsibilities also include, but are not limited to, monthly recording of Peapack Private Wealth Management's revenue; monitoring of the Bank's reciprocal deposit program; completion of the quarterly CECL Key Control Log for ACL and AQR; and, quarterly valuation and analysis of the Bank's interest rate (hedging) swaps and Loan Level swaps.

Key Responsibilities:

• Review of the Wealth division revenue - including the quarterly billing / monthly recording and analysis of revenue; reviewing journal entries to record the revenue and tracking of wealth fees to be collected.

• Liaison with Operations departments throughout the Bank.




• Provide accounting assistance to all Operations departments (Loan, Wealth Deposit/Escrow and Treasury Management) on an as needed basis.

Monthly review of FASB fees, prepayment penalties, loan payment deferral reconciliations, loan sale entries, etc.

• Monitoring the Bank's Reciprocal Deposit Program - this program facilitates providing large dollar deposit accounts with FDIC insurance coverage. The program captures a high volume of daily activity and tracks the related interest to be paid on each account.

• Quarterly Current Expected Credit Loss (CECL) Tracking - Preparing documentation to support financial reporting related to the Allowance for Credit Losses (ACL) and Asset Quality Review (AQR) for the Bank's Loan and Lease portfolio.
• Interest Rate and Loan Level Swap Accounting




• Quarterly valuation analysis of the swap positions based on MTM analysis prepared by Derivative Path. Posting of the quarterly MTM adjustment entries and updating various quarterly summary reports. Preparation of quarterly swap-related disclosures for 10-Q/10-K reporting and Call Reporting.




• Other duties include general accounting functions such as check signing, review of account reconciliations and assistance with both internal and external audit requests.

Qualifications:

• Bachelor's degree in accounting or finance or equivalent additional work experience required.
• One to three years of accounting experience, experience with GL reconciliations in a banking or financial services institution preferred
• Knowledge of quarterly billing/monthly recording and analysis of Wealth revenue and fees desired
• Strong analytical skills.
• Must have good oral and written communications skills, including the ability to deal effectively and tactfully across the organization.
• Proficiency in Excel required, including v-look ups and analyzing large data sets.

Benefits Overview:

We offer a competitive compensation package, a generous paid time off program, comprehensive medical, dental and vision coverage, maternity/paternity leave, a hybrid work environment (for most roles), education reimbursement, wellness programs and more. We also offer participation in an Employee Stock Purchase Program and a 401K with a generous match.

The approximate pay range for this position is $72,653.00 to $100,000.00, plus an opportunity to earn performance-based incentives. Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills and abilities, as well as geographic location.

Note: Incentives and/or benefits packages may vary depending on the position.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.