Avp Market Risk Management

6 months ago

Richmond Hill, Canada CWB Financial Group Full time

At

CWB

, we strive to build value for the people who choose us every day: our people, our clients and our investors. We do this by holding true to the values that guide us. We put people first and build relationships with intention. We seek out and embrace new ideas, knowing that better is always possible. We believe that how we do things is as important as what we do. And we harness the power of inclusion. Our culture is who we are and how we show up - as individuals and as a team - to accomplish our strategy.

Role Specifications

Everyday flexibility. Hybrid work environments. On-site requirements. Collaborative connections.

Location: Richmond Hill, ON or CWB Toronto Regional Office

Put a new spin on your banking career
- The overwhelming majority of our employees say CWB is a Great Place to Work®_

We’re different from the big banks in
_the way_ we engage our employees - caring, responsive, and armed with an obsession for growing talent. Our reputation is powered by a people first culture that ensures our employees be and feel heard, promotes inclusivity and diverse viewpoints, and inspires collaboration and innovation.
- Our employees love CWB. You’ll love it here too._

The opportunity

Specific Accountabilities

Interest Rate Risk- Prepare regular independent reporting of exposure against risk appetite for the Executive Risk Committee and the Board Risk Committee.- Own and maintain earnings and equity sensitivity and simulations models and methodology that calculate the bank’s exposure against market risk appetite.- Establish direct access to CWB systems to independently obtain up to date balance sheet information and provide calculated exposure against risk appetite on a regular basis.- Maintain and improve the 2nd line interest rate risk framework.- Continuously monitor CWB’s balance sheet to understand changes in CWB’s risk exposure and provide independent assessments to the Asset Liability Committee, Chief Risk Officer, Executive Risk Committee and the Risk Committee of the Board- Implement emerging OSFI IRRBB guidance from a second line perspective and provide oversight and challenge to implementation of first line requirements.- Review and challenge key assumptions made by Treasury in the measurement and management of interest rate risk in the banking book.- Developing and executing regulatory and ad-hoc liquidity stress testing; providing analysis to senior management relating to risk mitigation.- Ensuring appropriate documentation (i.e. stress testing methodologies) and operational procedures (i.e. Standard Operating Procedures) are in place; maintaining processes relating to data acquisition, analytical and reporting processes.- Ensuring methodologies for understanding and measuring risks remain current to industry best practices.

Reporting and Oversight- Conduct monthly reporting for:
- Market Risk Assessment-
- Economic Value of Equity at Risk (EVaR)-
- Earning at Risk (EaR)-
- Duration of Equity (DoE)-
- Net interest income sensitivity analysis-
- Conduct monthly oversight on:
- OSFI prescribed shock analysis on EVE and NII-
- Market Risk Early Warning Indicators (EWIs)-
- Sensitivities analysis on critical cash flow assumptions for ALM reporting-
- Monitor material valuation difference between 2nd line and 1st line model and take initiative to close the gap.-
- Prepare quarter Board report for Market Risk Management

Business Support- Prepare monthly and quarterly reporting for various stakeholders like the Executive Risk Committee on Market Risk Management.- Conduct independent Net Interest Margin (NIM) analysis and simulation.- Evaluate CWB’s market risk profile and lead initiatives on proactive risk management based on risk profile change or market events.- Ensuring appropriate documentation (i.e., 2nd line risk model document) and operational procedures (i.e., Standard Operating Procedures) are in place, maintaining processes relating to data acquisition, analytical and reporting.- Ensuring methodologies for understanding and measuring risks remain current to industry best practices.- Provide oversight review and challenge of market risk exposures created by new products and hedging strategies.- Assess the process and strategy employed by Treasury in managing the duration of the banking book and the instruments used.- Review and provide independent assessment of the residual risk and efficacy of the hedging strategy for CWB’s mortgage commitments and validate hedging calculators and tools used by Treasury to execute that strategy.

Skills and competencies that will take you further

People leadership. Client experience. Business growth. Risk Management.- Experience in business and/or technical writing with clear and concise written communication skills.-
- Highly organized and a strong attention to detail.- A natural organizer with time leadership skills, able to independently manage multiple work streams without constant supervision.- Independently motivated an

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