Securitization and Funding Analyst
3 days ago
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What we offer:
- Work-life flexibility
- Hybrid work environment
- One time allowance to set up your office for remote first employees
- Variable annual incentive plan
- Generous annual vacation allotment
- Top-notch flexible benefits plan
- Retirement Plan, matched contributions at 6%
- Access to a learning platform and educational assistance support
- Career development opportunities
- Wellness Flex Fund to support personal interest and activities
- Day off to volunteer in your community and other paid time off options
- Corporate discounts
Central 1 Is committed to diversity, equity, and inclusion through maintaining curiosity, collaboration, and courage which are our core values.
Job Summary:
As the Securitization and Funding Analyst, you will be responsible for supporting the business line’s processes, systems, and infrastructure through ongoing and new development of financial models, monitoring, reporting, and managing various systems. You will be expected to assist in the deployment of data analytics, process automation initiatives and other projects for the business line.
What you'll be doing:
- Reinvest, settle, and reconcile the monthly cashflows of the underlying NHA MBS sold into CMB program.
- provide quantitative and analytical support to the expansion of a mortgage funding and securitization facility for Central 1 and its member credit unions.
- Engage in the management and development of operational tools, financial modeling, and risk related analytics.
- Responsible for reinvesting monthly NHA MBS (National Housing Association - Mortgage-Backed Securities) cashflows as reported on CHT (Canada Housing Trust) Transfer Advice Reports for NHA MBS sold into the CMB (Canada Mortgage Bonds) Program.
- Ensure optimal use of Central 1’s NHA MBS portfolio for the CMB monthly reinvestment cycle to maximize reinvestment return, while maintaining compliance with CMHC regulation.
- Determine the optimal monthly asset allocation between replacement assets and those used for repo (repurchase agreements).
- Process entries for the CMB monthly principal and interest reinvestment transactions executed by Central1’s treasury/securitization department.
- Reconcile the principal and interest reinvestment cash accounts (PRA and IRA).
- Investigate and identify any discrepancies and coordinate with the treasury/securitization and settlements departments to resolve differences.
- Ensure that all securities trades are properly validated and settled at the designated depository / sub custodian and that the appropriate exchange of funds have occurred for Central 1 and Credit Union custody clients in the CMB program settlements.
- Reconcile the securities held in trust for the reinvestment accounts against the Trust’s valuation reports. (CHT Statements).
- Ensure the settlement and administration of products used in the CMB reinvestment process, such as prepayment swaps, repo, and reverse repo transactions.
- Reconcile the settlement accounts for Central 1 and those held in Trust for Credit Unions, for the CMB program participants. Monitor cash flows received from Credit Unions and sent to CHT’s Trustee and identify any discrepancies arising from these flows, investigate and resolve as required.
- Maintain daily liaison with the investment dealer/bank community, member credit unions, and the Treasury department, with regards to settlement of CMB related transactions
- Analyze and reconcile monthly Credit Union CMB reports. Provide detailed and accurate information on a timely basis as per the requirements of the CMB Program
- Responsible for monitoring and developing reporting, managing systems, and developing new tools/resources
- Improve existing models
- Identify and propose improvements to processes
- Provide whole loan sale, NHA MBS, and CMB pricing and analysis for clients as required
What you'll have:
Strong sense of ownership, ability to accept responsibility
- Strong competency in excel
- Experience with SQL and Queries is an asset
- 2+ years’ experience/competence in Securitization
- Familiar with NHA MBS, CMB, ABCP, ABS structures and mortgage regulation is an asset
- Working knowledge of mortgage funding, securitization and underwriting preferred
- Understanding of interest rate derivatives
- Scrupulous attention to detail; strong analytical and problem-solving skills
- Ability to express self clearly and logically, both verbally and in writing
- Ability to show initiative, creativity, and resourcefulness
- Ability to work cooperatively with others, both within the department and in other areas (risk, mortgage operations and accounting)
LI- Remote
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