Business Analyst

Our clients Regulatory Transformation Team has completed an initial assessment of ESG (Environmental, Social and Corporate Governance) through a third party consulting firm and through this have identified several projects involving integrations, customizations, modifications, etc. that will need to be executed throughout 2024 into 2027. The main requirements our clients is responsible for looking at is OSFI Guideline B-15 on Climate Risk Management as well as CSRD (Corporate Sustainability Reporting Directive). As a direct result of this regulation our client is in need of a Business Analyst with strong hands on project experience to assist our Clients Project Delivery Team however directly reporting into a single Project Manager. As a Business Analyst on the Team you should have specific experience in the capital markets/banking businesses and experience liaising with IT. This position requires driving changes with cross-functional teams impacting business, technology and corporate support areas within Capital Markets as well as Enterprise Wide. You would be part of a key Program working from the inception stages providing project support to the Target Operating Model, Stress Testing Plans for Global Sustainability, etc.

Projects:

• ESG (Overhanging Program title) – Priorities are bolded
• OSFI B-15
• ​Global Sustainability Reporting
• Global Risk Reporting
• Enterprise Stress Testing
• Climate Sustainability Reporting
• CSRD (EU focused)
• GHG Reporting (Greenhouse Gas Protocol Reporting) which will derive from CSRD
• ESG DataHub (Inhouse golden source for CSRD specifically)
• Calculations for Scope 3

ESG:

• ESG stands for Environmental, Social, and Corporate Governance. It is a framework that companies use to evaluate and communicate their performance in these three key areas. Each component of ESG represents a different aspect of a company's impact and behavior:
• Environmental (E): This refers to a company's impact on the environment. It includes considerations such as carbon footprint, energy efficiency, waste management, water usage, and other factors related to environmental sustainability. Companies that focus on environmental responsibility aim to minimize their negative impact on the planet
• Social (S): This aspect focuses on a company's relationships with its employees, customers, communities, and other stakeholders. Social factors include labor practices, human rights, diversity and inclusion, community engagement, and other issues that relate to a company's social impact
• Governance (G): Governance deals with a company's internal structures and processes that guide its decision-making. It includes issues such as board composition, executive compensation, shareholder rights, and overall corporate governance practices. Strong governance is essential for maintaining transparency, accountability, and ethical conduct within a company
• Investors, stakeholders, and consumers increasingly consider ESG factors when making decisions. Many believe that a company's performance in these areas can be indicative of its long-term sustainability and ethical practices. As a result, ESG has become an important consideration for investors seeking to align their investments with their values and for companies aiming to build trust and sustainability in the eyes of their stakeholders

OSFI B15:

• Climate change and the global response to the threats it poses have the potential to significantly impact the safety and soundness of federally regulated financial institutions (FRFIs), and the financial system more broadly. These risks, also known as "climate-related risks”, are broadly categorized as physical and transition risks.
• "Physical risks” refer to the financial risks from the increasing severity and frequency of climate-related extremes and events (i.e., acute physical risks); longer-term gradual shifts of the climate (i.e., chronic physical risks); and indirect effects of climate change such as public health implications (e.g., morbidity and mortality impacts).
• "Transition risks” refer to the financial risks related to the process of adjustment towards a low-greenhouse gas (GHG) economy. These risks can emerge from current or future government policies, legislation, and regulation to limit GHG emissions, as well as technological advancements, and changes in market and customer sentiment towards a low-GHG economy.
• Physical and transition risks can also lead to liability risks, such as the risk of climate-related claims under liability policies, as well as litigation and direct actions against financial institutions for failing to manage their climate-related risks
• Climate-related risks may manifest over varying time horizons, and are likely to intensify over time, especially if the global economy undergoes a disorderly transition. They can drive financial risks, such as credit, market, insurance, and liquidity risks. They can also lead to strategic, operational, and reputational risks. In severe instances, climate-related risks can threaten the long-term viability of a FRFI's business model
• Building resilience against climate-related risks requires FRFIs to address vulnerabilities in their business model, their overall operations, and ultimately on their balance sheet. This entails forward-looking approaches that are holistic, integrated, and built on reliable empirical data and sound analyses. It also necessitates FRFIs to continuously monitor and incorporate developments in climate-related risk management, such as improving data quality and evolving risk measurement methodologies, into their governance and risk management practices

CSRD:

• On the 21st of April 2021, the EU commission announced the adoption of the Corporate Sustainability Reporting Directive (CSRD) in line with the commitment made under the European Green Deal. The CSRD will amend the existing Non-Financial Reporting Directive (NFRD) and will substantially increase reporting requirements on the companies falling within its scope in its efforts to expand the sustainability information for users.
• The proposed directive will also entail a dramatic increase in the number of companies subject to the EU sustainability reporting requirements. The NFRD that is currently in place for reporting on sustainability information, covers approximately 11,700 companies and groups across the EU. The CSRD is expected to increase the number of firms subject to EU sustainability reporting requirements to approximately 49,000.

Daily Responsibilities:

• Manage day-to-day program management deliverables & governance across all aspects of project delivery – both business & technology – aligning with the clients corporate standards & methodologies
• Leading the charge to understand regulatory requirements and turn them into business requirements
• Create Gap Analysis and Target Operating Models, Future State Analysis and Current state Analysis, Impact Assessments
• Develop project artifacts including charter, integrated plan, resource plan, contingency plan, and related PM artifacts, while complying with applicable enterprise standards (e.g. Risk, Audit, Compliance)
• Responsible for program integrated risk and issue management and tracking
• Coordinate focus and working group committees to ensure the objectives of the project are met; includes engaging with business leaders to resolve issues & make decisions.
• Monitor project deliverables to ensure proper resourcing is in place
• Supports the project team in monitoring and controlling project activities including: risk, issues, status, communication, planning and execution. Proposes recommendations and adjustments and publishes periodic project status reports. Maintains project documentation repositories (SharePoint).
• Enhance net zero impact assessment toolkit
• Support the implementation of borrower net zero alignment with Bank targets
• Assist with net zero internal and external reporting obligations
• Integration of net zero tools to inform client engagement strategy

Must Haves (5 or more years of project related/business experience):

• Capital Markets/Banking business side experience (ESG, OSFI/OSFI B15, CSRD, GHG Protocols, Net Commitment Reporting, Sustainability Reporting, Stress Testing, Scenario, Analysis, Liquidity / Capital Requirements, reporting metrics, KPI's or anything as close as possible)
• Be able to chair meetings with various stakeholders: trading desks, operations and technology and oversee key project deliveries
• Regulatory text business requirements , gap analysis, regulatory risk solutions, control framework
• Knowledge of climate change risks and potential impacts to financial institutions
• Strong analytical skills, including proficiency with Excel and VBA
• Bachelor's or Master's degree in finance, economics, environmental science, or a related field

Nice to Haves:

• Familiarity with sustainable finance frameworks and taxonomies would be an asset.
• Foundational knowledge of profitability/return metrics and concepts such as Risk Weighted Assets would be an asset