Senior Manager, Liquidity and Funding Management
Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $25 billion in assets under management. Most recently, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 600 employees across the country.
Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.
Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.
Job Title: Senior Manager, Liquidity and Funding Management
Reports To: Director, Liquidity
Purpose is to support the Head of Liquidity to effectively manage Liquidity and Funding Risk at the Bank. The position benefits the Bank through rigorous liquidity analysis, monitoring and liquidity portfolio management.
- 60% Liquidity Risk Modeling, Analysis, Monitoring and Reporting
- Assist managing tactical, strategic and contingent liquidity risk and recommend strategies to mitigate potential risks. Risk monitoring is through short term and long term liquidity forecasting, liquidity matching, internal and external liquidity risk indicators and through stress scenario testing.
- Maintain, enhance and develop liquidity models, including behavioural models and stress testing, and perform regular analysis to review assumption effectiveness.
- Support enhancements for the Bank’s liquidity risk framework, through updates to policy, risk metrics, contingency plan and recovery plan.
- Forecast short term and long funding needs and assist in the development of Funding plan and deposit targets to meet requirements.
- Achieve efficiency through model automation while maintaining model and assumption integrity.
- 30% Policy and Regulatory Analysis and Implementation
- Maintain a deep understanding of regulatory liquidity guidelines and use this to develop models, assumptions, and provide insights to support senior management decisions and strategic direction.
- Develop liquidity reporting and analytics to meet regulatory needs.
- Assist with the communication on liquidity guidelines to regulators and Banking associations.
- Recommend liquidity and funding risk management policy changes consistent with regulatory rules and business operations, and present for approval by the ALCO.
- Liaise with the second line / model validation team for Treasury model reviews.
- Document processes and procedures consistent with the Bank’s documentation policy.
- 10% Advising
- Participate in cross-functional internal projects to provide insight and subject matter expertise on liquidity and funding.
- Advise management of liquidity and funding impacts of new products and transactions, market developments and regulatory requirements.
- Undergraduate University Degree. MBA, CFA or FRM designation would be an asset.
- At least 8 years of experience at a Bank Treasury, with 5 year managing Liquidity or Interest Rate Risk.
- Strong understanding of treasury concepts (e.g. deposit runoff, product optionality) and how these impact balance sheet and liquidity.
- Understanding of [a] bond and money market investments, [b] derivative and options markets and [c] bank/ FI balance sheet.
- Strong ability to communicate across various levels of the organization.
- Advanced knowledge SQL and VBA is critical as work will require significant model development/management.
- Individual needs to be inquisitive, self-motivated, and a self-starter.
- Team player as the individual may be required to work in groups.
Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates. Accommodations are available on request for candidates taking part in all aspects of the selection process. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.
- Pay Type Salary
- Equitable Bank, Toronto, Ontario, Canada