Job Category: RiskJob Description:The Director, Liquidity and Market Risk provides independent oversight of the credit union's treasury activities, more specifically, liquidity, interest rate, as well as Capital risk management. This position is accountable for the development and management of risk measurement, monitoring, and reporting functions, as well as advising the Chief Risk Officer regarding risk tolerances, policies, and adherence to regulatory requirements. The Director stays abreast of the regulatory landscape and market conditions, including potential stress scenarios, and its impacts on the credit union risk limits and financials. This role, with the support of the analytical risk team, is responsible for overseeing risk modeling, stress-testing relative to their area of expertise. Additionally, the Director collaborates with the treasury team for the development, implementation and testing of the liquidity and capital contingency plans.Accountabilities * Leadership: Provides leadership and direction to the team including recruitment, training and development, establishing annual goals and completing performance management processes. Works strategically with key internal partners and collaborates with cross functional teams across the organization.
Liquidity & Capital Risk: Independently monitors and assesses the credit union liquidity and capital positions. Reviews and challenges stress-testing parameters, calibration, assumptions and management actions. Regularly maintains and enhances liquidity and capital risk management policies and frameworks to address evolving regulatory requirements and industry best practices. Oversees real-time risk monitoring and reporting, during high-volatility periods.
Risk Oversight: Develops and maintains risk measurement systems that deliver liquidity and funding risk metrics, supporting effective management and oversight of liquidity and funding risk across both the first and second lines of defense. Validates assumptions used by finance and treasury an ensures they operate within board and management limits, as well as action plans established in cases where limits are exceeded. Reviews liquidity objectives, positions on a regular basis with the treasury team.
Risk Reporting: Prepares and presents risk reports to the Chief Risk Officer and senior management, effectively communicating risk profile and issues. Provides updates to senior management on implications of regulatory changes. Analyzes and synthesizes data, develops risk analytics and reporting, identifies key risk drivers, and delivers actionable insights.
Risk Policies: Recommends internal limits and tolerances to the Chief Risk Officer. Ensures effective risk policies are in place and are aligned with the credit union' risk appetite and regulatory requirements.
Modeling & Stress-Testing: Oversees treasury stress-test activities. With the support of the Risk Analytics team, reviews and validates models used to measure liquidity, interest rate and funding risk. This also includes the credit union forecast of capital ratios. Recommends model and assumption changes as required.
Contingency Plans: Participates in the development and of contingency plans for potential market disruptions. Leads the testing of these plans annually.
Market Monitoring: Monitors the market environment and industry best practices to ensure First West's capabilities continue to meet management and regulatory expectations. Identifies and analyzes emerging market risks that could impact the organization. Opines on the risks and benefits of potential management actions during times of economic and market stresses.
Required Skills, Experience & Qualifications
Bachelor's degree in a quantitative discipline required e.g. Mathematics or Science; masters preferred
Financial, Accounting or Risk Management designation required or an equivalent combination of education and experience
8-9 years in progressively senior positions within an OSFI regulated financial institutions
Experience in risk management, or analytically focused role, including 5 years leading and developing people required
Experience in overseeing with capital, liquidity, credit and market risk analytics in a second line of defense function (Risk Management)
Strong leadership skills (communication, coaching), with the ability to influence others
Demonstrated written and verbal communication skills, with the ability to interact effectively and build long-term relationships with a wide variety of stakeholders
Experience working with in a treasury related role, with knowledge of risk analytics and modeling techniques required.
Demonstrates strong proficiency in of hedging strategies to effectively manage interest rate risk.
Specialist understanding of quantitative methods and complex statistical analysis
Demonstrated advanced knowledge of advanced analytics, modeling and stress-testing.
Demonstrated advanced knowledge of enterprise risk principles within a financial institution, including knowledge of Capital, liquidity and market risk
Displays an understanding of management practice of capital and market & liquidity risks.
Ensures compliance with all relevant regulations, policies, and standards (e.g. OSFI, FCAC).
The approximate base salary for this role is $132,400 - $169,600. Total compensation includes a short-term incentive, executive perks, and competitive benefits, and may vary based on a variety of factors including an individual's skills, experience, and performance in the role.In accordance with Ontario's Employment Standards Act, we confirm that no artificial intelligence (AI) tools are used to screen, assess, or select applicants for this position. All applications are reviewed by our recruitment team.This posting represents a true and current vacancy within our organization. We are actively seeking to fill this role and welcome applications from qualified candidates.About Us:What's in it for you:First, we strive to make our team members feel genuinely rewarded. You'll have:
Mental health coverage and resources
Customizable health benefits, as well as topped-up parental leave
Performance-based compensation, employee banking advantages and group RRSP matching
Vacation time and flexible work arrangements to support your lifestyle
We are committed to providing a fair, equitable, and competitive rewards package that reflects the value an individual brings to our organization. The compensation mentioned in this job posting should serve as a guide. The total cash compensation earned may vary based on a variety of factors including bonuses and/or incentives, an individual's skills and experience, and may correlate with performance in the role.We also provide and encourage opportunities for our employees to make a meaningful impact. After all, as a credit union we're powered by giving back-in big ways and through small gestures. That's why we offer employees paid time off to volunteer, partner with thousands of local charities, build long-lasting relationships that help our members get ahead and commit to environmental, social and governance (ESG) practices.By joining our team, you'll be able to elevate your potential. Wherever your own purpose leads, we're here to support you with award-winning in-house training programs, access to LinkedIn Learning, and reimbursement for external courses to help you get ahead.Take the next step in your career as part of our team. Apply for this opportunity!Candidates, please note: if you are being considered for this role, you will be required to complete a background check, such as employment verification, credit check and criminal record check.Diversity, Equity, Inclusion & BelongingAt Tru Cooperative Bank, we embrace diversity regardless of gender identity or expression, sexual orientation, religion, race, ethnicity, age, diverse ability, and any aspect that makes someone unique. Inclusion is woven through our organization, from our employee-led network groups, hiring practices and education programs that address barriers and continually grow our equitable, diverse and inclusive culture.We encourage people who are from equity-deserving groups to apply for a career with us, including women or non-binary people, persons with diverse abilities, Black, Indigenous Peoples, People of Colour and members of 2SLGBTQIA+ communities.If an accommodation would help you during the process of applying or interviewing for a career with us, please let us know how we can assist you, whether it's preparing materials in an alternate format, booking an accessible meeting room or other arrangement.Your individuality is welcome here.About UsWe're a financial cooperative that does things differently. We provide time-tested advice that helps our members feel optimistic about their future, and we offer comprehensive banking solutions that enable people to confidently reach their goals. With the financial strength and extended branch network of a large financial institution, we maintain local connections to our communities and take a unique grassroots approach to service. Our more than 250,000 members and approximately 1,250 employees operate from 45 branches throughout the province of BC, under the Envision Financial, Valley First, Island Savings and Enderby & District Financial brands. Visit firstwestcu.ca for more information on Tru Cooperative Bank.Please know we appreciate your interest in us but only candidates selected for an interview will be contacted.
