Senior Finance Analyst, Asset Liability Management

Join a Challenger
Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing!) family. Overall we serve more than 370,000 people across Canada through Equitable Bank, Canada's Challenger Bank™, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform ( eqbank.ca ) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.
Purpose of the Job
The Senior Finance Analyst, Asset Liability Management is responsible for managing the Asset Liability Management (ALM) modeling for credit union clients across Canada. This includes managing associated modeling aspects such as assumptions and documentation, enhancement of processes, and analysis of results including causes of movements in the credit unions interest rate risk position. They provide expert advice to credit union clients in the areas of interest rate risk (IRR), profitability, liquidity, and capital management. This role manages modeling for their client portfolio and works with credit unions to develop appropriate assumptions pertaining to balance sheet forecasts, rate movements, and other applicable areas.
This role will also provide support within the Treasury Consulting team in other activities related to model enhancement, training, client engagements, or other product lines such as the weekly interest rate bulletin, credit underwriting for foreign exchange forwards and credit union lines of credit (LOC’s), and liquidity advisory service to credit unions.
The Work

• Assist/lead in Treasury Consulting’s Liquidity Advisory Management Product. This entails working independently or with another member of the Treasury Consulting team to assist credit unions on ways to deploy excess liquidity.
• O Comprehensive understanding of regulatory requirements in all provinces (LCR, NSFR, NCCF, etc). Ability to forecast results to support credit union management in strategic decision making.
• O Develop and maintain interest rate risk stress testing scenarios including regulatory requirements specific to individual provincial regulations
• O Modify any input/output processes to accommodate new products or attributes for client models.
• O Provide timely measurement of interest rate risk and enhance reporting to support effective decision making. Provide support for forward-looking discussions within ALCO. Ensure integrity of results and provide insights into results and explanation of drivers of change.
• O Consult with clients to collect, adjust, or enhance modeling assumptions including new products.
• Assist in under-writing applications for new or renewing credit union Secured Quick line product. Entails analyzing the credit worthiness of credit unions and making recommendations on extending lines to the credit unions.
• O Develop forward looking rate or balance sheet scenarios to assess impacts to the credit union.
• 2. Provide Support to Treasury Consulting Team on Adhoc Engagements (30%)
• Assist with technology management, working with other departments to trouble shoot software or assist in the implementation of new technologies.
• O Organize and facilitate debriefing calls with clients to review report findings, recommendations, and address questions.
• Research applicable credit union regulatory environments so that one can either improve Treasury Consulting core services or identify new areas to assist our clients with.
• O Continually explore opportunities to enhance existing processes to increase operating efficiencies and shorten reporting timelines.
• O Back-test model results to identify gaps and areas to improve assumption accuracy.
• Continuously update knowledge of markets, economic conditions, and trends that may affect credit union balance sheets.
• O Provide oversight of IRR reporting to ALCO, the Board, and for regulatory purposes through written reports utilizing Microsoft Word outlining results of model.
• O Apply knowledge to provide credit unions guidance or recommendations on management of interest rate risk metrics, profitability, liquidity, and capital management.
• O Participate in Asset Liability Committee (ALCO) meetings with senior members of credit union organizations, providing insight into reporting results and recommendations.
• O Develop and enhance input key assumptions into simulation model. Ensure accuracy and integrity of all data inputs and assumptions used to assess interest rate risk (IRR) exposures and recalibrate models to historical experience .
• O Evaluate credit unions changing profitability, liquidity, and capital position and identify key drivers of change (rates, balance sheet trends, etc.)
• O Assess and analyze simulation results while providing recommendations to senior management of credit union clients
• O In conjunction with credit union senior management, develop simulation scenarios to support strategic business modeling
• Support training of Finance Analysts. Includes assisting with modeling, assumptions, and report reviews.
• O Manage IRR modeling process to accommodate changes to behavioral assumptions and any new products or features being introduced. Tweak model setting and develop new reporting as needed to analyze results.
• O Assess how credit union’s IRR position has changed between models by utilizing key metrics such as earnings at risk (EAR) and economic value of equity (EVE).
• 1. Measurement, Analysis, and Reporting of Interest Rate Risk, Profitability, Liquidity, and Capital metrics – 70%
• O Execute higher value/more complex client balance sheet simulations to generate results for interest rate risk position, profitability/liquidity, and capital projections.
• O Provide Consultancy Services to Credit Union clients

Let's Talk About You!

• Experience with ALM modeling and required assumptions is required, preferably with vendor software such as Empyrean, FiServ or BancWare.
• An analytical aptitude with the ability to work independently or collaboratively are required.
• Treasury experience preferred, but individuals with a background within the financial industry may also be successful (5-7 years’ experience beneficial) .
• Strong inter-personal skills and the ability to work with credit unions senior leadership (Executives such as CFOs/CEOs, VP, Director)
• Individual must have a keen personal interest in economic and financial environment (ie: knowledge of monetary/fiscal policy, general interest rate environment, deposit and loan market).
• Strong understanding of finance and treasury concepts (ie: general structure of bank/credit union balance sheets, deposit and loan products, general accounting concepts).
• Advanced financial modelling skills and creative problem-solving skills would be an asset. Must have a strong analytical aptitude and be very detail oriented.
• Key to success is effective research and analysis capabilities (i.e. the ability to analyze information to determine trends, correlations, and understand different regulatory environments).
• Individual should be inquisitive, self-motivated, and a self-starter with good time management skills. Strong ability to communicate with clients at Director levels or higher.
• Superior technology skills with Excel and Word are necessary.
• University education with a focus on Finance or Business. Other certifications or Master’s Degree, or enrollment in an applicable program is required (i.e. CFA, CPA, MBA).

What we offer [For full-time permanent roles]
💰 Competitive discretionary bonus
✨ Market leading RRSP match program
🩺 Medical, dental, vision, life, and disability benefits
📝 Employee Share Purchase Plan
👶🏽 Maternity/Parental top-up while you care for your little one
🏝 Generous vacation policy, personal days and even a moving day
🖥 Virtual events to connect with your fellow colleagues
🎓 Annual professional development allowance and a comprehensive Career Development program
💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 351 King Street East, Toronto, ON.
Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.
We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.
We can’t wait to get to know you!