Manager of ICAAP Reporting, Risk Analytics and Reporting
Canada's Challenger Bank™If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.
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 $33 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 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: Manager of ICAAP Reporting, Risk Analytics and Reporting
Department: Risk Capital and Analytics (RCA)
Reports To: Sr. Manager of Risk Analytics and Reporting
Purpose of Job
Reporting to the Sr. Manager of Risk Analytics and Reporting, the incumbent will be responsible to implement, develop and enhance reporting capability with-respect-to Basel reporting, focused on enterprise-wide stress testing and the Internal Capital Adequacy Assessment Process (ICAAP).
This position will entail discussing with the retail and wholesale credit product, finance, and risk management areas key observations and conclusions derived from the data analysis and reporting and assisting in their use to manage product portfolio risk and profitability. The individual will use leading-edge technologies and develop innovative solutions in the following areas:
Data mining – making sense of some very large databases of credit risk related historical data;
Reporting – leveraging power BI to develop a suite of insightful reports for AIRB, ICAAP, and Risk Management.
Capital Allocation – factoring risk adjusted return on capital into current Banking products by estimating credit risk imbedded in the Bank’s retail and wholesale credit product portfolios, and the amount of regulatory and economic capital the Bank needs to allocate against these portfolios.
The role will further support Risk Management in all aspects of the enterprise-wide risk management program for the identification and assessment of risks throughout the organization. The incumbent will develop reporting and monitoring of risk management issues, including the Management of Capital Adequacy Assessment and Planning Processes.
ICAAP Development, Analytics, and Reporting
- Develop and design a suite of ICAAP and stress test reports in Tableau to provide Sr. Management with insightful conclusions on current risks embedded in the mortgage portfolio and to optimize capital allocation
- Drive Internal Capital Adequacy Assessment Process (ICAAP) enhancements after consulting with all stakeholders including business units
- Provide effective and timely delivery of enterprise wide stress testing, ICAAP, and Economic Capital analysis and reporting to internal and external stakeholders, including senior risk executives by working with business units to support the monthly and quarterly reporting of ICAAP
- Support the determination and review of stress test scenarios and related macro assumptions for ICAAP scenarios
- Develop, update and maintain our enterprise-wide ICAAP reporting process and procedural related documentation, focusing on risk adjusted return on capital (RAROC), Stress Testing, all risks in Pillar 2
- Perform annual internal capital adequacy assessment program (ICAAP) and report results to the Risk Capital Analytics department
- Participate in proposing risk limits for the purposes of capital adequacy
- Proactively research regulatory needs and translate observations, emerging issues, and best practices into methodology and model enhancements, including Economic Capital (EC), and internal and external (i.e. regulatory) stress testing
- Additional responsibilities will include assisting in IFRS 9 and AIRB analysis to explain deviations in expected loss, risk rating performance, and regulatory capital
- At least 5 years’ experience in a risk management role in a financial services environment (preferably mortgage lending)
- Degree in a business (Finance, Accounting, Commerce) or a quantitative discipline (Applied Mathematics or Statistics, Engineering, Computer Science)
- Good understanding and experience with operational risk and methodologies, model risk oversight, and internal assessment of capital
- Comfortable using Microsoft products, including strong data analysis skills using Excel, SQL, and Matlab
- High attention to detail, ability to review and recommend actions to solve business problems
- Advanced communication skills sufficient to convey complex information and concepts into succinct opinions to a senior executive audience
- Proven ability to communicate clearly (verbally and written), tailoring presentations to the audience
- Strong organization, time management and multi-tasking skills; managing multiple deadlines at one time
- Strong analytical ability for portfolio monitoring and stress testing
- Three to five years’ experience in a “Canadian Schedule One Bank” in risk production and reporting, modeling and analytics for IFRS-9, A-IRB, Economic/Regulatory Capital and Stress Testing
- Experience working with large data sets in SQL (data cleansing, reconciliation, validation)
- Hands-on experience working with Moody’s Risk Frontier vendor solution for Economic Capital
- Solid understanding of A-IRB, Economic Capital and IFRS-9 models
- Strong knowledge of OSFI BCAR
- Hands-on and detail-oriented reporting of risk numbers to senior management
- You're a self-starter and driven to succeed. You are motivated by accomplishing your goals and delivering your best to make an impact
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, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada