Asset Liability Management Consultant
3 weeks ago
At Equitable Bank, we are not your typical financial institution. We are committed to transforming the banking landscape in Canada, believing that individuals deserve superior choices. Our culture thrives on creativity and collaboration, encouraging our team members to challenge the status quo and explore new possibilities in banking. If you are ready to tackle significant challenges and help shape the future of finance, we invite you to join us. Here, you will collaborate with like-minded individuals who inspire you to achieve your full potential while fostering a fun and engaging work environment.
As a growing organization, we proudly serve over 607,000 clients across Canada through Equitable Bank, recognized as Canada's Challenger BankTM, and our subsidiary ACM Advisors. With over 50 years of experience, we manage a combined asset portfolio of $119 billion, driving change in the banking sector to enhance the lives of Canadians. Our EQ Bank platform has consistently been recognized as a leading Schedule I Bank in Canada by Forbes in recent years.
Your Role
The Treasury Consulting Analyst, SFM will play a crucial role in conducting Asset Liability Management (ALM) modeling for credit union clients nationwide. This position involves collaborating with credit unions to establish relevant assumptions for balance sheet forecasts, interest rate fluctuations, and other critical areas necessary for effective ALM modeling of client portfolios. The analyst will offer expert guidance to credit union clients regarding interest rate risk (IRR), profitability, liquidity, and capital management.
Additionally, the Treasury Consulting Analyst, SFM will support the Treasury Consulting team in various activities, including model enhancement, training, client interactions, and other product lines such as the weekly interest rate bulletin and liquidity advisory services.
Key Responsibilities:
- Measurement, Analysis, and Reporting of Interest Rate Risk, Profitability, Liquidity, and Capital metrics – 70%
- Back-test model outcomes to identify discrepancies and enhance assumption accuracy.
- Engage with clients to gather, refine, or enhance modeling assumptions.
- Input and develop essential assumptions within simulation models, ensuring the accuracy and integrity of all data used to evaluate interest rate risk (IRR) exposures.
- Adjust input/output processes to accommodate new products or attributes for client models.
- Oversee the IRR modeling process to reflect changes in behavioral assumptions and new product introductions; modify model settings and create new reporting as necessary to analyze outcomes.
- Continuously seek opportunities to improve existing processes to enhance operational efficiency and reduce reporting timelines.
- Possess a foundational understanding of regulatory requirements in relevant provinces (LCR, NSFR, NCCF, etc.) and the ability to forecast results to assist credit union management in strategic decision-making.
- Oversee IRR reporting to ALCO, the Board, and for regulatory purposes through written reports using Microsoft Word to detail model outcomes.
- Assess changes in credit union IRR positions between models by utilizing key metrics such as earnings at risk (EAR) and economic value of equity (EVE).
- Analyze credit unions' evolving profitability, liquidity, and capital positions, identifying key drivers of change (interest rates, balance sheet trends, etc.).
- Apply expertise to guide credit unions on managing IRR metrics, profitability, liquidity, and capital management.
- Provide timely IRR measurements and enhance reporting to support effective decision-making, facilitating forward-looking discussions within ALCO; ensure the integrity of results and offer insights into outcomes and drivers of change.
- Organize and facilitate debriefing sessions with clients to review report findings, recommendations, and address inquiries.
- Participate in credit union Asset Liability Committee (ALCO) meetings with support from senior Treasury Consulting team members.
- Develop forward-looking interest rate or balance sheet scenarios to assess impacts on the credit union.
- Assist in underwriting applications for new or renewing credit union LOC products, analyzing creditworthiness and making recommendations.
- Contribute to Treasury Consulting's Liquidity Advisory Management Product, working independently or collaboratively to assist credit unions in deploying excess liquidity.
- Support technology management, collaborating with other departments to troubleshoot software or assist in implementing new technologies.
- Stay updated on market trends, economic conditions, and developments that may impact credit union balance sheets.
- University degree focusing on Finance/Accounting or Business. Enrollment in programs such as CFA, CPA, or MBA is advantageous.
- Treasury experience is beneficial, but candidates with a background in the financial sector may also excel.
- Understanding of finance and treasury concepts (e.g., structure of bank/credit union balance sheets, deposit and loan products, general accounting principles).
- A strong personal interest in the economic and financial landscape (e.g., knowledge of monetary/fiscal policy, interest rate environment, deposit/loan markets).
- Proficient in financial modeling and creative problem-solving; must possess analytical skills and attention to detail.
- Success in this role requires effective research and analysis capabilities (i.e., the ability to analyze information to identify trends and correlations, and understand various regulatory environments).
- Strong technology skills, particularly in Excel and Word, are essential.
- Ability to work independently or collaboratively is required.
- Inquisitive, self-motivated individuals with strong time management skills will thrive.
- Excellent interpersonal skills and the ability to engage with senior leadership within credit unions (General Managers, Senior Analysts, CFOs/CEOs, VPs, Directors).
- Requires high-level professional relationship skills, as this role interacts with senior-level individuals within the credit union system (Executives, VPs, Directors).
- Interest Rate Risk is a specialized area of expertise; candidates must be willing to learn and expand their knowledge of IRR and credit union balance sheet specifics.
- Ability to interpret results related to IRR measures, profitability, liquidity, and capital, and provide recommendations to enhance these areas without compromising others.
- Candidates will work with external sources for information, modeling outputs, and spreadsheets that illustrate revenue/expenses, net present value results, and balance sheets; understanding these concepts is necessary.
- This role demands a detail-oriented individual with a methodical approach, strong problem-solving skills, and a proactive attitude towards collaboration with colleagues and external resources.
- The position is responsible for modeling IRR exposure, profitability, liquidity, and capital trends for credit union clients.
- While some tasks are procedural, most of the work requires flexibility and critical thinking to develop written reports detailing strategies and recommendations regarding IRR, profitability, liquidity, and capital.
Competitive discretionary bonus
Market-leading RRSP match program
Comprehensive 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 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
Equitable Bank is deeply committed to inclusion. Our organization thrives when we honor and celebrate everyone's diverse experiences and perspectives. We support and encourage our staff to grow not only in their career paths but personally as well.
We are dedicated to providing a barrier-free recruitment process and work environment for all applicants. Please inform us of any accommodations needed to ensure you can present your best self during the application process and beyond. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for employment. 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 look forward to getting to know you.
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