Vice President, Risk Management

**About Vancity**

Vancity is a member-owned credit union built on the principles of inclusion and social justice. A relentless commitment to their values has helped them challenge the status quo and break down barriers since day one in 1946. They have bold commitments to make Vancity net-zero by 2040 across all mortgages and loans and are pursuing strategies on Indigenous banking and to improve the financial resilience of their members.

**About The Workplace**

This is a permanent, full-time role that will enjoy hybrid working arrangements which can be fulfilled primarily from the Vancity head office location and your Lower Mainland based home office. Periodically, you’ll be required to attend in-person activities or events. The role involves the development of a new functional area in Vancity's Risk Management organisation, and team building and collaborative policy and cultural development will likely require more time in our head office than working from home.

Unlike private sector banks, Vancity is a credit union, and has a strong history of focusing on its mission of expanding financial access to all parts of the mainland BC community, of honoring and supporting our First Nations and diverse community partners. The VP RMFT plays a key role in balancing financial sustainability and resiliency alongside the core enterprise missions of serving all of our communities. Simply doing well at a profit-focused bank is not enough to succeed in the role - and yet, ensuring financial strength is essential to Vancity's objective of meeting its mission goals.

**A Typical Day Would Involve**
- Build and maintain a parallel reporting structure for measuring market risks on Vancity's balance sheet
- Build and maintain a stress testing environment to allow for ad hoc and annual planning for a range of potential market and idiosyncratic risks
- Assist in the development, articulation, implementation, and maintenance of market-standard board, ALCO, and 1LOD policies and procedures for management of market risks
- Maintain expert level knowledge of regulatory frameworks for market risk management and industry leading knowledge of 2LOD oversight practices
- Stakeholder in the development of the Internal Capital Adequacy and Assessment Process (ICAAP).
- Develop catalog of financial models used at Vancity, articulate materiality, and develop review protocols and regular review cadences
- Functional understanding of options pricing (delta, gamma, theta, vega)
- Understanding of dollar value changes in market risk governed portfolios (dv01, pv01)
- Coordinate as needed with Internal Audit and third-party audit partners as they conduct 3LOD review of internal controls and processes
- Review finance processes - budgeting, financial planning - to ensure market risks are appropriately represented and understood in forward resource planning
- Act as Co-Chair of Balance Sheet Risk Committee, a subcommittee of Vancity's Asset-Liability Committee (ALCO) responsible for maintaining market risk limit frameworks and reporting current status
- Participate in enterprise-wide 2LOD coordination and governance activities
- Assist CRO as needed in special projects
- Develop and lead team of 4-6 senior and mid-level analysts, including recruitment, talent management and development, regular written and oral performance management, and organisational design as Vancity's needs evolve

**Other Responsibilities / Contingent Responsibilities**
- Recommend remediation efforts should limits be breached and directly supervise Treasury and other staff in implementation
- Oversee day-to-day discussions with ELT and regulators during periods of market disruption or Vancity recovery efforts
- Represent Vancity in discussions with regulators and external constituencies (counterparties, rating agencies, significant depositors, CHMC, etc.) regarding the organisation's market risk processes and effectiveness
- Coordinate with Finance and Treasury in the development of procedures for market risk mitigation in corporate events (M&A, disposals) and resolution and recovery processes

**You Have**
- Bachelor’s degree in finance, business, or a related field; an MBA or similar advanced degree preferred
- Chartered Financial Analyst (CFA) or Chartered Risk Management Professional (CRMP) designation preferred
- 10-15 years experience in financial institutions of at least $15 billion in size in financial risk management or finance and treasury 1LOD mid-level to senior roles
- Strong team development and leadership skills
- Demonstrated ability to work with C-level executives in consultative roles involving financial risk management
- Demonstrated track record of risk optimisation in either 1LOD or 2LOD roles, including the development of balanced risk guidelines and scorecards and/or the ability to execute within such guidelines over time
- Exceptional analytical and problem-solving skills, proficient in financial modeling, valuation, and interpreting advanced fina