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Associate Director, Stress Testing
3 months ago
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 acrossCanadathrough Equitable Bank,Canada'sChallenger Bank, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions acrossCanadathat serve more than 5 million members. Together we have over$100 billionin 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 inCanadaon the Forbes World's Best Banks 2023, 2022, and 2021 lists.
The Work
The Associate Director of Stress Testing reports directly to the Director of Risk Operations and Analytics. In this role, the incumbent will assume responsibility for supporting the co-ordination, development, and execution of stress testing programs, including Enterprise-Wide Stress Testing (EWST), OSFI Macro Stress Testing (MST), Internal Capital Adequacy Assessment Process (ICAAP) stress testing, and Climate Risk stress testing. This role will support the stress testing initiatives and coordinate cross-functional teams to ensure the fulfillment of all stress testing requirements and compliance with regulatory guidelines. Collaborating closely with senior management, the Associate Director will support formulation of roadmaps and implementation plans while providing thought analytics to the team.
Core Parts Of The Role Would Br T- Stress Scenarios (20%)
- Design, develop, and maintain a process to identify risks including emerging risk and market sentiment.
- Design, develop, and maintain a process to define stressed scenarios appropriate for EWST, ICAAP, and recovery plan.
- Lead the co-ordination of stressed scenario forecasts and oversee the narrative of economic outlook used in the stress testing.
- Review quarterly BAU stress testing scenarios and results with senior management.
- Lead the quarterly BAU stress testing reporting and analysis.
- Enterprise-Wide Stress Testing (EWST) (30%)
- Support the design, development, and maintain the EWST roadmap, including implementation plan, policy and procedures, and infrastructure.
- Ensure that the Bank’s Stress Testing policy and procedures align with relevant regulatory guidelines i.e., OSFI E-18, OSFI E-19, OSFI B-15, and BCBS 450.
- Support the end-to-end development and implementation of the enterprise stress testing program.
- Support enhancement of technology infrastructure and underlying processes for an enterprise-wide stress testing solution, integrating results from stress testing of Credit risk, Liquidity and Funding risk, Market risk, and Operational risk.
- Coordinate and manage key relationships with Finance, Treasury, Business Lines, Model Development, and Model Validation for timely delivery against the EWST roadmap.
- Support a robust stress testing governance process with adequate controls and oversight.
- Co-ordinate and Support execution of credit risk and operational risk stress testing. Provide effective challenge for liquidity and funding risk and market risk stress testing.
- Provide expertise to advance the use of stress testing results for Senior Management decision making and risk management purposes.
- Drive ad-hoc stress testing, including stress testing to evaluate new products, acquisition of portfolios etc.
- Support Integration of stress testing to derive risk appetite limits.
- Regulatory Stress Testing (20%)
- Co-ordinate and support interpretation of scenarios and requirements for regulatory stress testing such as OSFI Macro Stress Testing (MST). Provide responses to ongoing OSFI questions.
- Participate in forums organized by Canadian Bankers Association (CBA) and OSFI to represent the Bank’s stress testing program.
- Support execution of credit risk and operational risk stress testing. Provide effective challenge for liquidity and funding risk and market risk stress testing.
- Provide expertise to interpret stress testing results for Senior Management and provide thought leadership in forecasting management actions in response to the impact of stressed results.
- ICAAP Stress Testing (10%)
- Support design, development, and maintain Stress Testing to support ICAAP.
- Lead execution of battery of stress tests to support quarterly ICAAP.
- Support analytics to determine appropriate levels of Pillar II ICAAP capital add-ons.
- Climate Risk (10%)
- Support design, development, and maintain stress testing for climate risk.
- Keep abreast of evolution on requirements for climate risk stress testing. Co-ordinate with internal stakeholders to develop and execute plans to deliver climate stress testing.
- Team Leadership and Development (10%)
- Provide thought leadership to the stress testing team and co-ordinate the delivery of key initiatives, including EWST, ICAAP, MST, and Climate Risk.
- Support development of the team’s core function, managing, mentoring, and assisting in staff’s professional growth.
- A post-secondary education in Economics, Accounting, Finance, Mathematics; CFA, FRM, and SCR preferred.
- Minimum 7+ years of experience in Stress Testing, Portfolio Analytics, Enterprise Risk Management, Finance, Economic Research.
- Minimum 5+ years of experience in leading teams and enterprise initiatives with successful execution and delivery
- Solid understanding of AIRB, ICAAP, EWST, MST, Climate Risk, IFRS 9, Financial Statements, and Retail and Commercial businesses.
- Exceptional knowledge in Stress Testing, Economics, Credit Risk, Finance, and Liquidity.
- Strong organization, time management and multi-tasking skills; Ability to work at a fast pace and manage multiple deadlines at one time.
- Excellent oral and written communication skills as well as excellent presentation skills with ability to conduct presentations comfortably to senior and executive management.
- Ability to identify and provide viable options and recommendations to support effective decisioning.
- High attention to detail, hands-on, detail-oriented reporting, and ability to influence senior management.
- Ability to effectively manage a team and mentor junior team members; lead by example and align each team members’ focus into a single cohesive vision.
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
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