Full-Time

Associate – Principal Finance Group

Posted on 8/5/2024

Cross River Bank

Cross River Bank

1,001-5,000 employees

API-driven banking services for FinTechs

Fintech
Financial Services

Compensation Overview

$155k - $175kAnnually

Entry, Junior

Edgewater, NJ, USA

Hybrid position requiring in-office presence.

Category
Private Equity
Finance & Banking
Required Skills
Python
R
SQL
Data Analysis
Requirements
  • Bachelor's Degree (a degree in Mathematics, Statistics, Finance, Economics, or a related discipline is preferred)
  • 1-3 years of experience working in a related investing role (e.g. structured products investing, private credit investing, investment banking, etc.)
  • Advanced Excel skills
  • Excellent verbal and written communication skills
  • Investment acumen
  • Exceptional analytical skills and attention to detail
  • Knowledge of statistical programming languages (e.g. Python/R/SQL) is a plus
Responsibilities
  • Underwrite investment opportunities and lead financial modeling efforts
  • Analyze large datasets to develop sensible modeling inputs
  • Manage the due diligence and legal documentation processes
  • Craft thorough investment memos that analyze the merits and risks of the proposed investment
  • Present investment theses to internal investment committee
  • Monitor and manage existing investments
  • Participate in deal sourcing by building relationships with key partners

Cross River Bank provides a range of banking services through its API-driven platform, the Cross River Operating System, which allows FinTech companies to easily integrate customizable and secure banking solutions. The company supports small businesses and marketplace lending platforms, notably helping over 100,000 businesses secure Paycheck Protection Program loans during the COVID-19 pandemic. Cross River operates on a "Banking as a Platform" model, offering infrastructure for other financial technology companies to create their own products, while generating revenue through various service fees. The goal of Cross River is to enhance financial services and support small enterprises by leveraging technology.

Company Stage

Late Stage VC

Total Funding

$824.9M

Headquarters

Fort Lee, New Jersey

Founded

2008

Growth & Insights
Headcount

6 month growth

0%

1 year growth

-3%

2 year growth

7%
Simplify Jobs

Simplify's Take

What believers are saying

  • Growing demand for real-time payments offers expansion opportunities for Cross River.
  • Record-breaking new business applications in 2023 present a market for Cross River's services.
  • Support for FDIC's custodial rule could enhance Cross River's credibility in the fintech space.

What critics are saying

  • Increased competition from credit unions may challenge Cross River's instant payment market share.
  • Tightened lending standards and rising interest rates could reduce Cross River's loan revenue.
  • Past FDIC consent order may impact Cross River's reputation and regulatory standing.

What makes Cross River Bank unique

  • Cross River combines traditional banking with innovative fintech solutions for unique offerings.
  • The company provides a customizable, API-driven platform for seamless fintech integration.
  • Cross River's commitment to compliance ensures secure and regulatory-compliant financial services.

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Benefits

Generous parental & leave policies

Completely subsidized health, dental, & vision insurance

Complimentary dry cleaning

On-site haircuts

Endless snacks

Company events

INACTIVE