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, you will serve as second line of defence and Subject Matter Expert (SME) in providing independent oversight of the management of market risks as they relate to the following areas of activity: Treasury - Investment and trading portfolios, derivatives, securitization, and asset/liability management.   The role will be a player coach having individual contribution responsibilities in addition to some coaching and mentoring of junior risk analysts and model developers.  In addition, this role will support the Head of Market and Liquidity Risk in their role as 2A Risk Officer for the Treasury - Capital Markets business lines/entities.

• Continuously develop, enhance and embed the Market Risk Management Framework by partnering with investment managers, trading desk, Treasury Operations, Finance and other relevant stakeholders to help deliver effective market risk management to Central 1.
• Contribute to the development of appropriate market risk policies, standards and procedures.
• Providing thought leadership and modelling to support the development of Central 1’s: Market risk infrastructure and analytic capabilities (VaR, EaR, Structural Interest Rate risk measurement, stress testing, sensitivity analysis, pricing frameworks, etc.).
• 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.
• Proactively and frequently contribute to the Asset/Liability Committee (“ALCO”).
• Provide an independent and effective challenge and oversight of the Treasury activities including FX and Interest Rate hedging; Trading and Market Making activities, Asset/Liability Management, Funding & Liquidity management, and Securitization.
• Evaluate and enhance the market risk management capabilities throughout Central 1
• Prepare and review the market risk content for daily reporting, risk dashboards, ALCO packages and board reports.
• Develop and automate the production of market risk dashboards and reports
• Provide leadership and direction to a small team of analysts 

What you'll have: 

• A university degree in Finance, Economics, Mathematics, Accounting, Financial Engineering, computer science or similar discipline required
• A financial designation is desirable (CA, CFA, FRM).
• 5-10 Years of combined experience as a Market Risk Analyst (in the second line of defence) 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 Interest Rate Risk. Prior experience with Value-at-Risk models (back testing, model enhancement, documentation, etc.), Net Interest Margin models, Economic capital models.  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 statistical modelling software and databases.
• Advanced programming skills (VBA, Python, SQL, etc.) with hands-on experience with Tableau or other visualization tools.  It is an asset if you are familiar with Murex MX.
• Communication Skills to interface with front office, business line stakeholders, Senior Management, Committees and employees of all levels.
• 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.

Central1 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 Applicants must apply by:  May 13, 2021