Allocation Manager Jobs in Illinois (NOW HIRING)

At Associated Bank we strive to create an inclusive culture where different perspectives are valued and recognized as strengths critical to our success. If you thrive in an environment where your growth and development are encouraged and supported, then Associated Bank may be the right place for you.

Associated Bank requires you to directly represent yourself and your own experiences during the recruiting and hiring process. Associated Bank conducts a thorough background check on all new hires.

The Profitability Manager - FP&A leads enterprise profitability analytics and owns the methodologies that govern revenue, cost, capital, and risk-adjusted return attribution across the bank. This role serves as a key finance partner and subject matter expert on profitability analytics, collaborating with Treasury, Accounting, and business leaders to deliver actionable insights that support pricing, capital allocation, and strategic decision-making.

Key Accountabilities

• Oversee and improve profitability methodologies (capital allocation, cost allocation, revenue attribution, FTP) ensuring consistency, transparency, and documentation
• Produce management financials and segment report
• Lead enterprise profitability reporting and analytics (NIM, fees, expenses, capital usage, RAROC/ROE/ROA) with clear executive insights
• Partner with Treasury to manage FTP and evaluate spreads, margin dynamics, funding mix, and rate sensitivity
• Oversee cost allocation and activity-based costing; maintain capital attribution aligned with RWA frameworks
• Deliver customer, product, and segment profitability analysis; explain results and drivers to senior leadership
• Provide decision support for pricing, new products, M&A, and strategic initiatives through scenario and stress analysis
• Integrate profitability into budgeting, forecasting, and long-range planning; enhance forward-looking models
• Maintain governance and controls, including model validation support, regulatory alignment, and methodology change management

Education and Experience

Required

• Bachelor's in Finance, Accounting, Economics, or related (required)
• 7-10+ years in Bank FP&A, Treasury, or Profitability Analytics
• Direct experience with banking profitability methodologies
• Strong knowledge of NII, FTP, capital frameworks, and cost allocation
• Strong governance, documentation, and communication skills

Preferred

• MBA/CMA/CPA
• SQL and BI tools (Power BI, Tableau)
• ALM/FTP systems (QRM, Empyrean, Moody's)
• Regional bank experience

Why You'll Love Working Here

At Associated Bank, you'll have the opportunity to make a meaningful impact while collaborating with talented colleagues across the organization. We foster a culture of continuous learning, leadership development, and career growth, empowering employees to bring new ideas and drive results. Join a team where your expertise will help shape business decisions and contribute to long-term success. Apply today to make an impact.

We welcome and encourage applications from all qualified parties, including but not limited to people returning to the workforce, people with disabilities, those without a college degree, and veterans or those with military experience.

In addition to core traditional benefits, we take pride in offering benefits for every stage of life.

• Retirement savings including both 401(k) and Pension plans.

• Paid time off to volunteer in your community.

• Opportunities to connect with others through our diversity-focusedColleague Resource Groups.

• Competitive salaries with professional development and advancement opportunities.

• Bonus benefits including well-being programs and incentives, parental leave,anemployee stock purchase plan, military benefits and much more.

• Personal banking, loan, investmentand insurance benefits.

Associated Bank serves more than 120 communities throughout Wisconsin, Illinois, Minnesota, and Missouri and we consider our colleagues critical to our continued success. See why our colleagues continually vote us a best place to work in the Midwest.Join our community onFacebook,LinkedInandX.

Compliance Statement

Associated Bank is an equal opportunity employer committed to creating a diverse workforce. We support a work environment where colleagues are respected and given the opportunity to perform to their fullest potential. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

Fully complies with all applicable enterprise policies and procedures. Acts in compliance with all applicable laws and regulations as outlined in training materials, including but not limited to Bank Secrecy Act. Responsible for reporting suspicious activity to Financial Intelligence. Responsible to report all customer complaints as prescribed and procedure violations to management or HR.

Responsible to report ethical concerns as needed to Associated Bank's anonymous Ethics Hotline.

Associated Bank provides additional assistance throughout the application, interview and hiring process. Please contactleavesandaccommodations@associatedbank.comif you need an accommodation at any time during the process.

Associated Banc-Corp participates in the E-Verify Program. E-Verify NoticeEnglish or Spanish. Know Your Right to WorkEnglishorSpanish.

Associated Bank isPay Transparencycompliant.

The pay range represents anticipated base pay for this role. Actual pay may vary based on factors including, but not limited to, work location, skills, experience, education, and qualifications for the role.

For certain positions, total compensation may also include incentive, commission, or bonus opportunities not reflected in the posted base pay range.

$78,680.00 - $134,880.00 per year