Risk Management Expert

6 days ago

Edmonton, Alberta, Canada The Toronto-Dominion Bank (Canada) Full time

Servus Credit Union is Alberta's largest member-owned credit union, recognized for its commitment to building strong, resilient communities through effective financial solutions.

Reporting directly to the Leader of Market Risk, the Market Risk Analyst plays a pivotal role in measuring and managing the credit union's interest rate risk in the banking book (IRRBB) and foreign exchange (forex) risk.

This involves:

  • Utilizing theoretical and practical knowledge of capital markets and investments to drive informed decision-making.
  • Maintaining strong technical proficiency in working with large and complex data sets, leveraging tools such as Bloomberg, SQL, Excel, and PowerQuery.
  • Demonstrating behavioral attributes of accountability and best execution practices.

The scope of responsibilities includes:

  • Executing a funds transfer pricing (FTP) mechanism approved by the asset-liability committee.
  • Contributing to the production of analytics on interest risk attributes of products in the banking book, including embedded option costs, which underpin FTP methodologies chosen for execution.
  • Participating in risk assessments, including repricing gap profiles, net interest margin forecasts reflecting an array of interest rate risk scenarios, and market valuations and fair valuations of positions.
  • Providing trade recommendations for hedging IRRBB and executing approved hedging trades.
  • Measuring opening, closing, and intra-day forex risk exposure and making related hedging trade decisions within defined limits for this role; promptly requesting approval for necessary trades within the limits of more senior team members.
  • Contribution to prudent development and execution of retail banking product structures, such as equity-linked term deposits, forex forwards, forex options, etc.
  • Supplying ad hoc insights to the Leader of Market Risk and Head of Treasury to support ongoing prudent management of IRRBB.
  • Assistance in managing the risk exposure in the mortgage pipeline by accurately measuring risk exposure on a timely basis and executing required hedging trades.
  • Liaison with internal stakeholders such as the accounting function to perform regular assessments of hedge effectiveness of existing hedging derivative positions.
  • Completion of regulatory risk reporting within the scope of the team's mandate as required by external regulatory authorities.
  • Contribution to the development and implementation of policies related to interest rate risk or market risk management; provision of input on policy changes informed by industry conditions, best practices, and new regulatory guidance.

Key Skills and Qualifications :

  • Strong understanding of capital markets, investment theory, and technical skills needed to quickly and accurately synthesize risk insights from large and complex data sets.
  • Intermediate or better proficiency in software such as Bloomberg, SQL, Excel, PowerQuery, etc.
  • Bachelor's degree or higher in economics, finance, business administration, or a related field.
  • A master's degree is considered an asset but is not required.
  • One or more relevant professional designations (such as CFA, FRM, etc.) or equivalent experience is considered a significant asset.
  • Minimum 5+ years' experience in bank Treasury and / or Asset-Liability Management in a financial institution.
  • Demonstrated track record of strong execution, continuous learning, and critical thinking.

Why Work at Servus :

  • Flexible work options.
  • Competitive compensation including performance-based incentive pay.
  • Meaningful work towards individual and corporate goals.
  • Opportunities to get involved and give back through an employee volunteer program.

About Us :

Servus Credit Union is committed to building strong, resilient communities through effective financial solutions. Our employees are valued members who contribute to our mission of helping our members feel good about their money. We strive to create a sense of belonging amongst a team of unique, authentic individuals working together to reimagine financial fitness.

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