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Associate Director, Stress Testing and Risk Management
4 weeks ago
Key Responsibilities
As Associate Director, Stress Testing, you will play a critical role in leading the development and implementation of stress testing programs across the organization. This includes designing and maintaining processes to identify risks, including emerging risk and market sentiment, as well as defining stressed scenarios appropriate for Enterprise-Wide Stress Testing (EWST), Internal Capital Adequacy Assessment Process (ICAAP), and recovery plan.
Key Responsibilities
- 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
- 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.
About You
- 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
- 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
