We are currently seeking a Liquidity Risk Manager to join our team.
The Liquidity Risk Manager reports to Director, Financial Risk & Modelling and contributes to First West (FW) financial risk management (ALM function) by providing risk oversight with a focus on Liquidity Risk. This role provides independent oversight and challenges the liquidity management practices undertaken by Treasury and the business lines. The Liquidity Risk Manager assists the Director, Financial Risk & Modelling in setting the overall liquidity risk management framework, which includes risk policies, risk appetite and limits. In addition to validating & challenging stress assumptions & methodologies developed by Treasury, this role is also responsible for designing and running second line liquidity stress scenarios.
Here’s what would be included as a part of your typical day
1. Risk Management:
Provide independent oversight of the Liquidity Management framework applied by Treasury. Reviews, validates and documents first line’s models, assumptions, limits, stress tests etc. Builds out the liquidity risk management framework and contribute to ongoing enhancement of related policies.
Designs, implements, and produces second line liquidity risk reports. Maintains reporting infrastructure, manages assumptions and settings, and validates reports and forecasts.
3. Stress Testing:
Designs, implements, and produces second line liquidity stress testing and coordinates assumptions with stakeholders.
4. Risk Analysis:
Provides risk metrics and analyses to facilitate the monitoring of liquidity exposure and maintains appropriate risk appetite.
5. Relationship Building:
Engages with lines of business to build strong mutual understanding of liquidity risk drivers and potential mitigation strategies. Contributes to collaborative risk learning environment within First West. Partners with Treasury and Investment team to better understand product-specific exposures and ensures the liquidity analyses are comprehensive and accurate.
Required Skills, Experience & Qualifications
- Bachelor’s Degree in Finance, Business, Accounting or equivalent required
- Other Certifications, Designations or Licenses, FRM, CTP, CFA preferred
- Minimum 5 years of treasury and/or liquidity risk oversight experience at a financial institution leading to solid understanding of liquidity risk management and other ALM practices
- Experience in regulatory liquidity reporting in line with requirements from LAR / B-6 / B-12
- Experience in the development of liquidity stress testing
- Experience in building complex financial & risk models
- Experience using Moody’s Risk Authority and Risk Confidence or other treasury/ALM software
- General knowledge of GAAP, IFRS and other reporting standards for investments & financial instruments. Understanding of valuation of financial instruments, including derivatives and structured financing products
- Data extraction and transformation tools (SQL, MS Access, etc.) - intermediate level
- MS Excel – advanced level
- Solid understanding of banking products and investment instruments
- Thorough knowledge of LCR & NCCF reports (OSFI LAR) and good understanding of liquidity principles (OSFI B-6)
- Familiarity with financial risk management principles, methodologies and practices in banking
- Strong communication skills and comfortable in dealing with different levels of personnel within the organization
- Strong attention to detail
- Ability to operate in a team environment with a focus on collaboration
Why work for us?
We offer a total rewards package that recognizes the meaningful work you do to support our members and our communities, which includes:
- A competitive base salary plus performance-based incentive compensation
- Annual merit pay increases
- Flexible benefits as well as support for retirement benefits
- Vacation time, a flexible “Day4U” and the option to purchase up to five additional vacation days
- Other financial perks such as our Employee Banking Advantages which includes waived or reduced financial service fees, reduced rates on personal loans, mortgages and no-interest loans on lifestyle-related items that promote health, wellness, learning and business aptitude
In addition, you can enjoy socially conscious perks, like three paid days off every year, to volunteer for causes you care about.
What’s your place in the First West story? Apply now and let’s find out together!
First West regrets that only candidates selected for an interview will be contacted.
Diversity & Inclusion:
First West Credit Union is committed to diversity and inclusion. Our goal is to create an inclusive, accessible environment for our candidates and employees that reflects the communities in which operate. If you require an accommodation for the recruitment or interview process (including alternate formats of materials, accessible meeting rooms or other types of accommodation), please let us know and we will work with you to meet your needs.