We’re embarking on something BIG... 

Central 1 is the partner of choice for financial, digital banking and payment products and services – fueling the success of businesses across Canada. We leverage our scale, strength and expertise to power progress for more than 250 credit unions and other financial institutions, enhancing the financial well-being of more than five million customers from coast to coast. For more information, visit Central1.com

Because of COVID19, all Central1 offices are currently closed to non-essential employees. This role will see you working remotely until our offices are reopened. The timeline to reopen is still under consideration, as are our future remote working policies.   

This role is open to candidates in which our offices are located. 

What you'll be doing:

Reporting directly to the Head of Market and Liquidity Risk serving as second line of defence and Subject Matter Expert (SME) in measuring, analyzing, and mitigating market risks as they relate to Central 1’s investment and lending, securitization, and trading portfolios. The role will combine managing a small team of risk analysts and model developers with individual contribution responsibilities.

• Continuously develop, enhance and embed the Market Risk Management Framework by partnering with investment managers, trading desk, the larger Risk group and other relevant stakeholders to help deliver effective market risk management to Central 1.
• Providing thought leadership and modelling to support the development of Central 1’s market risk infrastructure and analytic capabilities (VaR, risk sensitivities, stress testing, scenario analysis).
• Provide independent oversight of Central 1 portfolios to ensure compliance with limits as established by the Board of Directors, Market Risk policy, and regulatory guidance.
• Contribute to the development of appropriate market risk policies, standards and procedures.
• Manage the ongoing development and maintenance of risk models for liquidity risk, traded credit risk, and enterprise-wide stress testing.
• Provide expertise and oversight of financial instrument valuation to ensure the accuracy and integrity of mark to market and fair value reporting. 
• Participate and frequently contribute to cross-functional initiatives and committees including the Asset/Liability Committee (“ALCO”).
• Enhance and prepare the market risk content for daily reporting, risk dashboards, ALCO packages and board reports.

What you'll have: 

• A university degree in Finance, Economics, Mathematics, Accounting, Financial Engineering, computer science or similar discipline required
• 7+ years of combined experience in Market Risk and/or in a Front Office Capital Markets role (i.e., Bank Treasury, ALM and/or Funding).
• Strong working knowledge of financial instrument valuation and pricing models (interest rate, FX and equity derivatives; NHA MBS, and fixed income securities), financial markets, and banking operations.
• Thorough understanding of Market and Structural Interest Rate Risk. Prior experience with Value-at-Risk, Earnings at Risk.  This should include deep understanding of model creation and validation.
• Understanding of 2nd line of defence market risk frameworks.
• Advanced proficiency in MS Office suite of products is required, as is demonstrated proficiency with Tableau or other visualization tools.  It is an asset if you are familiar with Murex MX3.
• Advanced programming skills (VBA, Python, SQL, etc.)
• Communication Skills to interface with front office, business line stakeholders and Senior Management.
• Forward and independent thinking to identify emerging regulatory/industry requirements and how we can be agile in our response to them. 

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 building a diverse and inclusive workforce by creating an environment where everyone feels like they belong and has the opportunity to be successful. We are welcoming of all applicants and we will provide an accessible candidate experience.

Reporting to: Head of Market and Liquidity Risk 

Grade: H

Date Posted: May 6, 2021

Internal Applicant Due Date: May 13, 2021