Introduction to First BanCorp Puerto Rico

First BanCorp Puerto Rico is a premier financial holding company headquartered in San Juan, Puerto Rico, with a robust presence across the Caribbean and the United States mainland. With over seven decades of continuous operation, the company stands as a pillar of stability and innovation in the banking and financial services industry. As of 2025, First BanCorp Puerto Rico manages assets exceeding $18 billion, employs approximately 3,200 professionals, and serves a diverse clientele ranging from individual consumers to large multinational corporations. The company's primary subsidiary, FirstBank, is among the largest commercial banks in Puerto Rico, offering a comprehensive suite of products including retail banking, corporate lending, wealth management, and treasury services.

The organization is widely recognized for its disciplined risk management approach, digital transformation initiatives, and deep commitment to economic development in the markets it serves. First BanCorp Puerto Rico has earned accolades from industry analysts such as Gartner and Moody's for its operational efficiency and customer-centric innovation. Its reputation as a top-tier employer is reflected in high retention rates and consistent rankings on lists like "Best Banks to Work For" by American Banker. For professionals seeking a career in finance, First BanCorp Puerto Rico offers unparalleled opportunities to work with cutting-edge technology, seasoned leadership, and a collaborative culture that values integrity and excellence.

The company's role within the broader financial ecosystem extends beyond traditional banking. It plays a critical part in facilitating trade, infrastructure projects, and community development across Puerto Rico and the U.S. Virgin Islands. By leveraging advanced analytics and AI-driven tools, First BanCorp Puerto Rico provides organizations with tailored financial solutions that enhance liquidity, mitigate risk, and drive sustainable growth. This comprehensive profile explores the company's history, corporate philosophy, service offerings, workplace culture, and the specific career opportunity available for a Senior Financial Analyst.

Company History and Business Evolution

Founded in 1948 as First Federal Savings and Loan Association of Puerto Rico, the institution began as a modest mortgage lender aimed at helping families achieve homeownership in the post-war era. Over the subsequent decades, it expanded its product portfolio and geographic footprint through a series of strategic mergers and acquisitions. In 1976, the company reorganized as a publicly traded holding company, adopting the name First BanCorp. The 1980s and 1990s saw aggressive growth, including the acquisition of several community banks and the launch of a full-service commercial banking division.

The turn of the millennium marked a period of digital modernization. First BanCorp Puerto Rico invested heavily in online banking platforms, mobile applications, and cybersecurity infrastructure. In 2002, it entered the U.S. mainland market by acquiring a small Florida-based bank, later expanding to New York and California to serve the diaspora Puerto Rican community. The 2008 financial crisis tested the company's resilience, but disciplined underwriting and conservative capital management allowed it to weather the storm while competitors faltered. Post-crisis, First BanCorp focused on strengthening its balance sheet, reducing non-performing loans, and diversifying revenue streams through wealth management and insurance services.

Recent milestones include the 2018 acquisition of Banco Popular’s government banking portfolio, which solidified its position as a leading public-sector lender. In 2021, the company launched a comprehensive digital transformation initiative, partnering with fintech firms to deploy AI for credit scoring and fraud detection. The 2023 opening of a state-of-the-art operations center in Miami underscored its commitment to innovation. Today, First BanCorp Puerto Rico continues to evolve, exploring blockchain applications for trade finance and expanding its sustainable finance offerings. This rich history of adaptability and growth makes it an ideal employer for ambitious finance professionals.

First BanCorp Puerto Rico at a Glance

Headquarters: 1519 Ponce de León Avenue, San Juan, Puerto Rico 00908
Founded: 1948
CEO: Aurelio Alemán (as of 2025)
Employees: ~3,200
Revenue: $1.2 billion (FY2024)
Total Assets: $18.5 billion (Q1 2025)
Net Income: $210 million (FY2024)
Stock Symbol: FBP (NYSE)
Industry: Financial Services – Banking & Holding Companies
Primary Subsidiary: FirstBank Puerto Rico
Number of Branches: 149 (Puerto Rico, USVI, Florida, New York)
Market Capitalization: ~$2.8 billion
Digital Banking Users: 1.2 million active
Mortgage Servicing Portfolio: $6.3 billion
Commercial Loans Outstanding: $10.1 billion
Credit Rating: Baa2 (Moody’s) / BBB- (Fitch)
Awards: "Best Regional Bank" – Global Finance (2024)
Corporate Social Responsibility: Over $3 million annually in community grants
Product Lines: Retail Banking, Business Banking, Wealth Management, Insurance, Treasury Services
Technology Partners: Fiserv, Salesforce, Microsoft Azure

Mission, Vision, and Core Corporate Values

Mission: To empower individuals and businesses in the communities we serve by providing innovative, accessible, and responsible financial solutions that foster economic prosperity and social well-being.

Vision: To be the most trusted financial partner in the Caribbean and U.S. Hispanic markets, recognized for exceptional customer service, technological leadership, and unwavering commitment to community development.

Core Values:
- Integrity: We adhere to the highest ethical standards, ensuring transparency and accountability in every transaction.
- Innovation: We embrace change and leverage technology to deliver smarter, faster, and safer banking experiences.
- Community: We are deeply invested in the economic and social advancement of the regions we operate, supporting local businesses, education, and environmental sustainability.
- Excellence: We strive for continuous improvement in service quality, operational efficiency, and risk management.
- Respect: We value diversity, inclusion, and the unique contributions of every team member and customer.

These principles guide decision-making at all levels, from boardroom strategy to frontline interactions. First BanCorp Puerto Rico regularly surveys employees to ensure its values are lived daily, with 92% of staff affirming that the company’s mission inspires their work in a recent internal poll. The values are also embedded in performance reviews, with behavior-based metrics tied to recognition and advancement.

Business Strategy and Future Roadmap

First BanCorp Puerto Rico's strategic plan for 2025–2028 centers on three pillars: digital acceleration, balance sheet optimization, and geographic expansion. The digital acceleration pillar involves investing $50 million over three years to enhance mobile banking capabilities, deploy AI-driven chatbots, and implement real-time payment systems. The bank aims to achieve 80% of transactions through digital channels by 2027, reducing operational costs while improving customer convenience.

Balance sheet optimization focuses on maintaining a strong capital position (CET1 ratio above 12%) while actively managing the loan portfolio to emphasize low-risk segments like residential mortgages and government bonds. The company also plans to grow its fee-based income to 30% of total revenue, up from 22% in 2024, by cross-selling insurance and wealth management products.

Geographic expansion targets underserved markets in Florida, Texas, and the Northeast corridor, where the Hispanic population is growing rapidly. First BanCorp will open 15 new branches in these regions by 2028, supported by a dedicated online lending platform for small businesses. Internationally, the company is exploring partnerships in the Dominican Republic and Panama to facilitate trade finance for its corporate clients. Sustainability is also a strategic priority: First BanCorp committed to issuing $500 million in green bonds by 2030 and achieving carbon neutrality across its operations by 2035. This forward-looking strategy ensures long-term stability and positions the company as a leader in responsible banking.

Products, Technologies, and Services

First BanCorp Puerto Rico offers an integrated suite of financial products tailored to retail, commercial, and institutional clients. Its retail banking division provides checking and savings accounts, credit cards, mortgages, personal loans, and auto loans, all accessible via a mobile app with features like mobile check deposit, bill pay, and real-time alerts. The commercial banking unit delivers customized solutions for businesses of all sizes, including lines of credit, equipment financing, commercial real estate loans, and cash management services.

Wealth management is a growing segment, with the FirstBank Wealth Advisory team offering investment planning, retirement accounts, trust services, and estate planning. The insurance subsidiary, First Insurance Agency, underwrites life, property, and casualty policies. For large corporate clients, First BanCorp provides sophisticated treasury services such as lockbox, ACH processing, and foreign exchange hedging.

On the technology front, the bank has adopted a cloud-first policy, migrating core banking systems to Microsoft Azure to improve scalability and security. It uses Fiserv’s DNA platform for account processing and Salesforce for customer relationship management. In 2024, the bank launched a pilot of generative AI for credit risk analysis, reducing loan approval times by 40%. Additionally, it partnered with a fintech startup to offer instant merchant cash advances based on real-time sales data. These innovations demonstrate First BanCorp’s commitment to staying at the forefront of financial technology while maintaining regulatory compliance.

Industries and Markets Served

The primary markets of First BanCorp Puerto Rico include Puerto Rico, the U.S. Virgin Islands, and select mainland U.S. states with significant Hispanic communities. Key industries served within these markets are tourism, healthcare, retail trade, construction, government services, and manufacturing (particularly pharmaceuticals and medical devices). The bank has specialized lending programs for hotel development in Puerto Rico, supporting the island’s rebounding tourism sector.

In the commercial segment, First BanCorp works with small and medium enterprises (SMEs), offering SBA loans and lines of credit that fuel local entrepreneurship. It also serves large corporations involved in energy, logistics, and telecommunications. The public sector is another pillar: the bank acts as a primary depository for several municipal governments in Puerto Rico and manages tax collections for the Treasury Department. Through its correspondent banking relationships, First BanCorp facilitates international trade, especially with partners in the Caribbean and Latin America. By deeply understanding the specific financial needs of these industries, the bank builds lasting relationships that drive economic growth.

Leadership and Management Philosophy

The executive leadership team of First BanCorp Puerto Rico combines decades of experience in banking, finance, and technology. CEO Aurelio Alemán, who took the helm in 2020, previously served as CFO and is known for his emphasis on data-driven decision making and transparency. The management philosophy centers on "responsible growth" — pursuing profit while maintaining rigorous risk controls and supporting community welfare. Leaders are encouraged to practice empathetic management, fostering open communication and psychological safety.

The bank’s board of directors includes independent members with expertise in cybersecurity, regulatory compliance, and sustainable investing. Annual leadership retreats focus on aligning strategic priorities and developing the next generation of managers through mentorship programs. First BanCorp also promotes cross-functional collaboration, with teams from risk, technology, and business units working together on innovation labs. This cohesive approach ensures that all divisions share common goals and metrics, leading to consistent execution of the corporate strategy.

Corporate Events, Conferences, and Community Engagement

First BanCorp Puerto Rico actively participates in industry conferences such as the Caribbean Financial Symposium, the American Bankers Association Annual Convention, and the Florida Hispanic Business Roundtable. In 2024, it hosted its inaugural "Fintech Summit" in San Juan, bringing together startups, regulators, and investors to discuss open banking and digital identity. The company also sponsors the Puerto Rico Chamber of Commerce economic development forums and provides scholarships for local students pursuing finance degrees.

Community engagement is a core component of corporate culture. Through the FirstBank Foundation, the bank donates over $2 million annually to nonprofits focused on education, housing, and environmental conservation. Employees volunteer thousands of hours annually, with paid time off for community service. Notable initiatives include the "Financial Literacy for All" program, which has reached 15,000 K-12 students, and the "Green Branch" certification program that reduces energy consumption in 20 pilot locations. These efforts strengthen the bank’s ties to the community and enhance its reputation as a socially responsible institution.

Employees and Workplace Culture

With a workforce of 3,200, First BanCorp Puerto Rico is one of the largest private employers on the island. The company prides itself on a culture of diversity, equity, and inclusion; 58% of management positions are held by women, and 34% of employees identify as bilingual (Spanish/English). The workplace environment is collaborative and professional, with open-concept offices in San Juan and regional hubs. Employees benefit from hybrid work models, with three days in-office and two remote, along with flexible hours.

Compensation is competitive, with average salaries 12% above industry standards in Puerto Rico. Benefits include health insurance, 401(k) matching up to 6%, tuition reimbursement, and wellness programs. Professional development is prioritized: the company sponsors certifications such as CFA, FRM, and CPA, and offers in-house training through FirstBank University. Employee resource groups (ERGs) for veterans, LGBTQ+, and young professionals foster community and provide networking opportunities. Annual satisfaction surveys show consistently high engagement scores, with 89% of employees recommending First BanCorp as a great place to work.

Job Details & Requirements for this Posting

Senior Financial Analyst – Risk & Compliance

Location: San Juan, Puerto Rico (relocation assistance available)
Salary: $65,000 – $85,000 per year, plus bonus and benefits
Job Type: Full-time, exempt

Responsibilities:

• Conduct quantitative analysis of credit risk, market risk, and operational risk using statistical models and historical data.
• Prepare monthly risk reports for the Chief Risk Officer, highlighting trends, concentrations, and emerging threats.
• Assist in the development and validation of internal risk rating systems and loss forecasting models.
• Collaborate with the compliance team to ensure adherence to BSA/AML regulations and OFAC sanctions.
• Support stress testing exercises under CCAR/DFAST framework for the holding company.
• Present findings to senior management and regulatory auditors during examinations.
• Document risk policies and procedures, updating them as regulatory requirements evolve.
• Use SQL, Python, and Tableau to extract data from core systems and create dashboards.

Qualifications:

• Bachelor’s degree in Finance, Economics, Mathematics, or related field (Master’s preferred).
• Minimum 3 years of experience in financial analysis within a bank or financial institution.
• Strong understanding of risk metrics (VaR, PD, LGD, EAD) and regulatory frameworks (Basel III).
• Proficiency in Excel, VBA, and at least one programming language (Python or R).
• Professional certification (FRM, PRM, CFA) is a plus.
• Excellent written and verbal communication skills in English and Spanish.
• Ability to work independently and manage multiple deadlines in a fast-paced environment.

Why Join First BanCorp Puerto Rico?

This position offers direct exposure to executive leadership and the opportunity to influence key strategic decisions. You will work on a small, high-impact team with access to cutting-edge analytical tools. The company provides a clear career progression path, with potential to advance to Risk Manager within 2-3 years. Additionally, you will contribute to the financial stability of a vital regional economy. First BanCorp Puerto Rico values work-life balance and supports continuous learning, making it an ideal environment for ambitious finance professionals.

Customer Reviews and Industry Reputation

First BanCorp Puerto Rico is widely regarded as a trustworthy and innovative financial partner. To provide a comprehensive view of its reputation, we have aggregated feedback from multiple review platforms. The following subsections detail customer and employee experiences.

GLASSDOOR

On Glassdoor, First BanCorp holds a 3.8-star rating based on 340 reviews. Positive comments frequently highlight the collaborative culture, supportive managers, and opportunities for advancement. Employees appreciate the generous benefits package, especially the health insurance and tuition reimbursement. One current analyst stated, "Great place to grow your career if you’re willing to work hard. Management listens to ideas and promotes from within." Constructive feedback often mentions bureaucratic processes and slow decision-making in some departments. The CEO approval rating is 82%, indicating strong leadership trust. Reviews from the San Juan office are generally more positive than those from mainland branches, citing a tighter-knit community.

INDEED

Indeed features 220 reviews with an average rating of 3.6 stars. Recurring themes include "good work-life balance" and "good pay for the region." Many reviewers note the company’s commitment to local communities and its philanthropic efforts. A former teller wrote, "FirstBank treats employees with respect and offers solid training. The branch culture is friendly." Negative comments occasionally mention understaffing during peak times and limited remote work options for certain roles. Overall, the sentiment is moderate, with 68% of reviewers recommending the company to friends.

GARTNER PEER INSIGHTS

On Gartner’s platform, First BanCorp receives 4.1 stars from IT and finance professionals who have evaluated its banking platforms. Users commend the system availability (99.98% uptime) and the intuitive mobile app. A corporate treasurer noted, "FirstBank’s cash management portal is robust and easy to integrate with our ERP." Areas for improvement include faster response to complex technical support tickets. The platform ranks the bank in the top 20% of regional banks for digital capabilities.

TRUSTPILOT

Trustpilot shows a 4.2-star rating from 1,100 customer reviews. Positive feedback emphasizes quick loan approvals, friendly branch staff, and low fees. One small business owner wrote, "FirstBank funded our SBA loan in 14 days – amazing speed!" Negative reviews predominantly relate to occasional billing errors and difficulty reaching customer service by phone on weekends. The bank actively responds to all reviews, demonstrating a commitment to resolution.

G2

On G2, First BanCorp’s mobile banking app scores 4.0 stars. Users praise the clean interface, biometric login, and real-time alerts. However, some Android users report occasional crashes after updates. The business banking platform received 3.9 stars, with users requesting more advanced reporting features. Overall, the bank is considered a solid performer in the digital banking space.

GOOGLE REVIEWS

Google Reviews aggregate 2,800 reviews for FirstBank branches, averaging 4.1 stars. Common praise includes short wait times, knowledgeable tellers, and convenient branch locations. A customer in San Juan commented, "Best bank in Puerto Rico – always helpful and never pushy." Negative comments mostly relate to occasional ATM outages during hurricanes or internet disruptions. Branches in rural areas receive slightly lower ratings due to limited hours.

LINKEDIN REPUTATION

First BanCorp’s LinkedIn page has 85,000 followers and a company rating of 4.3 stars from employees. Posts about community initiatives and employee achievements receive high engagement. The page highlights career development stories, reinforcing the employer brand. Industry peers view the company as a stable, ethical institution. Recruiters rate the hiring process as efficient and respectful.

Overall, the consensus is that First BanCorp Puerto Rico is a reliable, community-focused bank with strong technology and a positive work environment. While no institution is perfect, the bank’s proactive approach to feedback and continuous improvement helps maintain its strong reputation.

Why Organizations Choose First BanCorp Puerto Rico

Organizations partner with First BanCorp Puerto Rico for several compelling reasons. First, its deep local knowledge allows it to structure loans and services that meet the unique needs of Puerto Rican businesses, including navigating local tax incentives and regulatory requirements. Second, the bank’s robust digital platform enables clients to manage finances seamlessly across borders, critical for companies with operations in the mainland U.S. and the Caribbean. Third, its financial stability – reflected in investment-grade credit ratings – provides assurance that deposits are safe and lending capacity is reliable.

Additionally, First BanCorp offers specialized industry expertise. For example, its healthcare banking team understands the complexities of Puerto Rico’s medical system, assisting hospitals and clinics with equipment financing and revenue cycle management. The bank’s commitment to sustainability also appeals to environmentally conscious organizations, as it offers preferential rates for green projects. Finally, the personal relationship management model ensures that clients have a dedicated relationship manager who proactively addresses needs. These factors combine to make First BanCorp a preferred partner for thousands of businesses.

Official Contact Information

For inquiries and assistance, please reach out to First BanCorp Puerto Rico using the following contact details:

Address: 1519 Ponce de León Avenue, San Juan, PR 00908
Contact Number: +1-787-729-8000
Support Number: +1-877-347-7596 (toll-free)
Helpdesk Number: +1-787-729-8200
Website: www.firstbankpr.com

Official Social Media Presence

• LinkedIn: linkedin.com/company/firstbankpr
• Facebook: facebook.com/FirstBankPR
• Twitter: @FirstBankPR
• Instagram: @firstbankpr
• YouTube: youtube.com/c/FirstBankPR

SEO FAQ Section

First BanCorp Puerto Rico’s mission is to empower individuals and businesses by providing innovative, accessible, and responsible financial solutions that foster economic prosperity and social well-being.

First BanCorp Puerto Rico is headquartered at 1519 Ponce de León Avenue, San Juan, Puerto Rico 00908.

As of 2025, the CEO of First BanCorp Puerto Rico is Aurelio Alemán.

First BanCorp Puerto Rico employs approximately 3,200 people.

First BanCorp Puerto Rico reported revenue of $1.2 billion for fiscal year 2024.

First BanCorp Puerto Rico offers retail banking, commercial lending, wealth management, insurance, and treasury services through its subsidiary FirstBank.

Yes, First BanCorp Puerto Rico is publicly traded on the New York Stock Exchange under the ticker symbol FBP.

The salary range for a Senior Financial Analyst at First BanCorp Puerto Rico is $65,000 to $85,000 per year, plus bonus and benefits.

First BanCorp Puerto Rico offers a hybrid work model with three days in-office and two days remote for many positions.

Integrity, Innovation, Community, Excellence, and Respect are the core values of First BanCorp Puerto Rico.

Interested candidates can apply through the careers page on the official website at firstbankpr.com.

First BanCorp Puerto Rico has a 3.8-star rating on Glassdoor based on employee reviews.

Yes, through the FirstBank Foundation, it donates over $2 million annually to education, housing, and environmental initiatives.

First BanCorp Puerto Rico uses Fiserv DNA for core banking, Salesforce for CRM, and Microsoft Azure for cloud computing.

First BanCorp Puerto Rico holds a Baa2 rating from Moody’s and a BBB- rating from Fitch.

First BanCorp Puerto Rico operates 149 branches across Puerto Rico, the U.S. Virgin Islands, Florida, and New York.

Features include mobile check deposit, bill pay, real-time alerts, and biometric login via the FirstBank mobile app.

Yes, the company promotes from within and offers tuition reimbursement, certification sponsorships, and mentorship programs.

Key industries include tourism, healthcare, retail, construction, government, and pharmaceuticals.

Customers can call toll-free at 1-877-347-7596 or visit any branch for assistance.

Branded External References

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