When you’re passionate about what you do and where you work, the rest comes easy. That’s the culture at Central 1 Credit Union, and that’s precisely what we’re looking for from you. Supporting nearly 150 member credit unions across British Columbia and Ontario, we’re the backbone of the credit union system in both provinces – taking care of everything from online services and product development, to payment processing, trade association services and more.

Our team of over 600 employees represent some of the most innovative, passionate individuals you’ll ever meet; people who honestly care about the organization, its members and each other. In other words, people who love what they do.

BASIC FUNCTION:

The Regulatory Reporting Analyst is a key member of the Financial Reporting team.  S/he will be responsible for meeting Central 1 and its subsidiaries' financial reporting obligations as required by the Office of the Superintendent of Financial Institutions (OSFI), Financial Institutions Commission (FICOM) and other regulatory bodies. S/he is also responsible for enhancing, overseeing, and managing Central 1’s’s reporting framework related to financial policy compliance. S/he will be required to assist in enhancing financial reporting by line of business (LOB) and creating/implementing risk based and regulatory capital restructuring.

SPECIFIC ACCOUNTABILITIES:

Regulatory Reporting

•  Implement reconciliations and analyze information from various systems/data (Murex-R6, Loan Trial Balance, Commercial loans for Credit Unions, Liquidation File, R801, Repos file) to complete the monthly, quarterly, and annual reporting requirements for Central 1’s and C1 Trust in an accurate and timely manner.
• Responsible for reporting to FICOM the monthly package (Loans, Deposits, Other Borrowings, Securities, Pledging schedules) for Central 1’s and to OSFI monthly, quarterly and annual reports for C1 Trust by the required due dates.
• Responsible for preparing Risk Weight Asset report, Capital dashboard, and Capital Adequacy Report for Central 1 in monthly bases. Responsible for communicating the internal distribution.
• Prepare the supporting documents for CAR that involve analysis and reconciliation of PPS, Derivatives, and Netting with Sage 300.
• Cross communication between teams about the reporting’s Regulatory Reporting file to FICOM and OSFI.
• Interpret the regularly requirements for underlying balances and precisely calculate Central 1’s key regulatory ratios.
• Complete and deliver the reports to CDSX and CHT on time.
• Analyze and support in preparation of key internal financial policy compliance reports. Be updated with the policies internally and externally.
• Prepare the calculation of Central 1’s and C1 Trust’s key regulatory ratios.
• Analyze and applicate of various risk models to data from different systems according to the regulatory framework to measure Central 1’s exposure.
• This will require the incumbent to prepare certain reports, and to coordinate the reporting activities of others within the team.
• Responsible the capital management, capital dashboards, and regulatory reporting related note disclosures for Central 1’s management and Board of Directors. MD&A, AFC, FS notes.
• Enhance and modify reporting frameworks to keep pace with evolving regulatory and policy requirements.
• Continuously and actively seek efficiencies through automation and process improvements.
• Harmonize and cross the data, the reports and the policies/procedures that are in place for Central 1 and C1 Trust.

 Financial Reporting

•  Responsible for preparation and enhancement of Line of business reporting framework to keep pace with evolving regulatory and business requirements.
• Act as a backup to Accountant, Financial Reporting and assist with the accounting function for affiliates and/or subsidiaries. This includes posting all accounting entries, reconciling bank accounts, preparing monthly financial statements.
• Support the financial reporting team with the calculation of tax provision and reconcile tax remittances to CRA account. Assist in preparation of tax working papers for year-end audit purposes and draft tax returns for review.
• Facilitate the Financial Reporting team during the year-end audit process for the affiliates and/or subsidiaries by preparing working papers and responding to requests for information.
• Prepare financial reports and compile financial summaries for the Board and prepare other financial reports as required.
• Assist the Manager, Financial Reporting in the preparation of disclosures for Management’s Discussion and Analysis as required.
• Work with Manager, Financial Reporting and Director, Financial Reporting in special projects and analysis.

Internal Business process and Systems Management

•  Responsible for enhancement and modification of reporting frameworks to keep pace with evolving regulatory, financial, and policy requirements.
• Responsible for testing and following of various data changes, regulatory filings and internal reports assigned to the Regulatory Reporting. (Related to data and the production of pivots for reports). Monitor the data on monthly bases.
• Work with Manager, Financial Reporting to review, evaluate, and recommend potential system upgrades to the Director, Financial Reporting.
• Work with other areas (Risk Team, Lending Team, Treasury Team, Projects Managers and IT team) and in the regulatory reporting level change requirements for the regulators.
• Work with IT team-business analyst to design, test, and implement system upgrades and enhancements (Murex-R6 and Sage 300)

SUPERVISION RECEIVED:

The incumbent will report to the Manager, Financial Reporting but work closely with the Director, Financial Reporting. The incumbent is under general supervision to complete assigned work.  The work is detail orientated, timeline driven, and varied.

WORK ENVIRONMENT:

Work is performed within a normal office environment.  There are frequent demands for extended visual attention to printed and electronically displayed data.

• University graduate in business, finance, math econometrics or related quantitative fields, or equivalent work experience in a financial institution, and a minimum of three years of experience in a financial reporting role at a financial institution. 
• CFA or accounting designation (CA, CGA, CMA) or demonstrable achievement in an accounting designation program.
• Facility with extracting data from various systems.  Advanced Excel skills. Knowledge of SQL and Business Objects Enterprise.
• Strong quantitative and analytical skills.  Able to review reporting data and determine their accuracy and completeness.
• Familiarity with financial concepts, economics, investments, capital management, liquidity management, and derivatives.
• In-depth understanding of accounting principles (especially IFRS), including balance sheets, income statements, and cash flows.
• Ability to understand policy and regulatory documentation, and create related reporting processes.
• Deep understanding of OSFI reporting requirements, in particular OSFI 68.  Familiarity with the regulatory framework of BC’s Financial Institutions Commission (FICOM).
• Familiarity with the Basel framework and general financial regulatory issues.
• Excellent attention to detail, a strong commitment to punctuality, and superlative organizational abilities.
• Good oral and written communications skills.
• Ability to work both independently and as part of a cooperative team.

As much as we believe in working hard, we also believe in personal growth and taking time for ourselves. Accordingly, our total rewards philosophy amounts to one of the best compensation and benefits packages in the industry – from performance-based incentives and extended benefits, to training and education reimbursements and ample vacation time.

Central 1 is committed to diversity and inclusion. If you have a request for a disability-related accommodation, we will work with you to meet your needs.

Reporting to: Manager, Financial Reporting

Grade:  E

Date Posted: March 12, 2018

Internal applicants must apply by March 19, 2018

*Unsolicited resumes from vendors will not be accepted for this or any position at Central 1*