Asset Liability Manager
Atlantic Central provides liquidity management, payments processing and trade association services that support the credit unions of Atlantic Canada. The Central provides leadership, advocacy and a range of support services in the fulfillment of these key functions. League Savings and Mortgage (“LSM”) is a subsidiary of Atlantic Central and provides commercial and retail mortgage financing and investment products and services in support of credit unions, credit union members, and through broker services.
Atlantic Central’s Halifax office is currently accepting applications for the position of Asset/Liability Manager to be responsible for overseeing the generation of interest rate and liquidity risk exposure reports, as well as financial results trending for the Atlantic region and Atlantic credit unions. The position will also consult with and educate credit union employees and Boards of Directors in understanding the contents of the reports and advising management regarding strategies that will improve the credit union’s financial position within acceptable levels of risk exposure.
Reporting to the Director, Financial Consulting, the Asset/Liability Manager is responsible for:
- Coordinating and supervising the activities of direct reports.
- Coordinating and supervising interest rate risk (IRR) modelling and reporting processes for Atlantic credit unions, including: overseeing and participating in the generation and distribution of reports assessing IRR for individual credit unions; ensuring the soundness of modelling data used in the generation of interest rate risk reports, analysis and recommendations; ensuring the appropriateness of interest rate, volume, and other key assumptions used for interest rate risk modelling; analyzing and interpreting interest rate risk (IRR) and economic value of equity (EVE) results; monitoring and reporting on IRR compliance targets; analyzing economic, interest rate and market forecasts and assessing implications to balance sheet management and recommending strategies to minimize negative impacts to financial margin.
- Coordinating and supervising liquidity risk reporting processes for Atlantic credit unions, including: overseeing and participating in the preparation of monthly/quarterly liquidity forecasting models; consulting with credit union management on soundness of liquidity forecasts; overseeing the performs stress tests on credit union liquidity forecasts based on criteria developed through consultations with credit union management; generating management and Board reports assessing liquidity risk; aiding credit union management in the development of annual liquidity plans.
- Consulting with credit unions, providing advice and guidance on ALM strategies and options. Consulting with resources within other departments and service partners to analyze, evaluate and develop recommendations. Offers input regarding ALM reporting issues and balance sheet management.
- Overseeing the generation of credit union and regional financial performance reports; performing analysis on performance reporting for internal users, credit unions, regulators and other external users. Identifying future reporting enhancements.
- Participating in the development and delivery of training and consultation sessions for credit union staff, management and Boards regarding ALM concepts, strategies and related financial performance material.
- Providing limited annual budgeting support to credit unions as required including budgeting tool maintenance, budget review and feedback to management.
- Ensuring the accuracy of data and information maintained in department and related databases. Helping ensure process controls are in place, including the identification of opportunities for process improvements and partnering with other departments and/or system partners to implement process improvements.
- Providing input into the development of the annual department plan and operating budget.
- Maintaining process and department procedures.
- Serving on internal and external committees as required.
- Acting as back-up to Director, Financial Consulting as required.
- Completing other projects and duties as assigned.
The ideal candidate for this position will have successfully completed a Bachelor’s Degree with a concentration in Accounting or Finance, and either holding or working towards a professional designation in accounting or finance, plus have a minimum of 5-7 years’ experience in a corporate finance/treasury or risk management operations position (preferably in a financial institution), or have an equivalent combination of education and experience.
The successful candidate will have the following skill set:
- Demonstrated understanding of accounting practices, procedures, and terminology
- Strong oral and written communication skills
- Strong interpersonal skills
- Proven statistical, analytical and financial modelling skills
- Proven organization skills to maintain data, compile information, and prepare reports
- Demonstrated proficiency of the Microsoft Office applications (Excel, Word, PowerPoint), financial accounting, and database applications
- Proven mathematical ability
- Demonstrated working knowledge of asset liability simulation modelling
- Comprehensive problem-solving skills with proven ability to analyze and interpret complex financial data, assess risk, and provide conclusions and recommendations
- Proven facilitation skills and ability
The successful candidate will also demonstrate strong abilities in the following competencies:
- Change Leadership
- Building Relationships and Partnerships
- Listening, Understanding and Responding
- Results Orientation
- Team Leadership
- Developing Others
- Strategic Orientation
This is a permanent full-time position and is rated a Salary Level CU-8 ($69,373-$81,615). Atlantic Central offers a competitive benefits package as well as the opportunity to participate in the Performance Sharing Incentive Plan.
Applications will close on December 7, 2018.
Interested candidates should forward their résumé, including salary expectations, in confidence, to:
Human Resources Department
6074 Lady Hammond Road
Halifax, NS B3K 2R7
(When sending applications by e-mail, please send in MS Word format)