Location: Vancouver or Mississauga, British Columbia, Ontario
Posting Date: January 9, 2014
Closing Date: until filled
Web Site: www.central1.com
Employment Type: Full-time / Permanent
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 200 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.
Position overview:
The Director of Liquidity and Market Risk Management has oversight over all liquidity and market risk across the organization. The position is based in Vancouver or Toronto, but given Central1’s mandate its scope will encompass both British Columbia and Ontario.
You’ll be primarily accountable for:
Setting and articulating a compelling vision for the department.
Leading in the creation of a broad, deep, and aggressive agenda of initiatives which, taken together, represent the organization’s program of continuous improvement in all that we do.
Developing strategy to best meet the overall deliverables of the organization.
Defining and supporting the resolution of ambiguous, complex problems that cross organizational boundaries.
Providing independent oversight of Central 1’s liquidity risks and market risks, and of the strategies executed by the organization’s Treasury & Funding Services group
Delegating authority for market risk and liquidity risk management limits and is the central repository of all delegated market risk and liquidity risk authorities. Concurs on all Market Risk Policy, Liquidity & Funding Risk Policy, and Liquidity Plan exceptions prior to escalation to the Board for final approval.
Setting limits for internal risk tolerances and risk limits within the Board approved Risk Appetite Framework.
Drafting all risk management policy and policy standards relating to market risk and liquidity Risk.
Measuring, monitoring and reporting market risk, liquidity risk positions, & P&L limits.
Overseeing the Middle Office, which performs independent controls related to market risk taking activities.
Developing and implementing appropriate market risk and liquidity risk measurement methodologies to ensure the organization operates within its risk appetite and investment strategy.
Measuring, monitoring and reporting on market risk and liquidity risk positions, compliance with limits, and compliance with investment strategy.
Ensuring the appropriate use of stress testing techniques.
Acting as a transformational leader in applying best practices to current processes.
Making organizational changes based on customer feedback to meet evolving customer needs.
Researching best practices and innovation as it relates to processes and growth of the department
Understanding the nature of this changing business and puts in place to mitigate impact on organization and people.
Demonstrating high level of technical and professional knowledge.
Communicating the organization’s strategic initiatives to keep group focused on the right priorities.
Continually shares knowledge of trends, competition that affect the group.
Participating in the development of industry through leadership
Adeptly manages the internal/external political realities such as boundaries between departments and functions that left unresolved can have a significant organizational impact
Creating organizational culture and processes that enable cross functional teamwork and development of cooperative relationships.
Taking responsibility for the development of staff while addressing succession initiatives
Your qualifications include:
A university degree in Finance, Business Administration or a quantitative discipline is required, and a financial designation is desirable (CA, CFA, FRM).
At least 10 years of progressive experience in an investment management, market risk management, or treasury role.
Strong analytical and quantitative skills, financial acumen, and ability to understand the investment market and liquidity business.
An in-depth knowledge of capital markets, including securitization, swaps, foreign exchange, liquidity management strategies, payment systems and lending.
A familiarity with systems development and technology.
A strong and holistic understanding of risk issues and principles, and proven track record in managing risk.
A broad understanding of trends in the financial industry, credit union system and regulatory environment.
Sound people management and leadership experience, including a demonstrated ability of influencing the actions of others within and outside of his/her areas of responsibility.
An ability to effectively manage interpersonal relations across functions and entities in conflicting and competing environments.
Strong negotiation, presentation and facilitation skills.
Strong project management skills.
An ability to confidently and competently act as a change agent.
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, ample vacation time and staff mortgage discounts.
Interested candidates are asked to submit a cover letter and resume to want2work@central1.com
Please quote “Director, Liquidity and Market Risk Management” in the subject line.
We would like to take this opportunity to thank all applicants in advance; however, only those short-listed will be contacted.
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