Director, Treasury

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 Director, Treasury.  The Director, Treasury is responsible for actively managing the AC and LSM Treasury Functions and balance sheet optimization; including investments, liquidity, interest rate risk, balance sheet funding, asset allocation, and securitization strategies. This involves the development, implementation and maintenance of financial and risk management processes and reporting; the analysis and interpretation of margin results and the provision of specific recommendations to Management.

THE POSITION:
Reporting to the Vice President, Treasury and Credit Services, the Director, Treasury is responsible for:

  • Coordinating and supervising the activities of direct reports.
  • Providing input into the development of the corporate strategic plan for Treasury and Credit business plans. Implementing and monitoring the treasury annual business plan. Developing, recommending and managing the margin budgets for AC and LSM and the annual operating budget for the Treasury department. Monitoring performance results and taking corrective action as required. Providing expertise and leadership to divisional managers on operations that impact margin, liquidity, and securitization efforts.
  • Managing the investment portfolios of AC and LSM including: reporting on the portfolios, managing compliance, contributing to the design and execution of investment policies and strategies; and communicating strategies to investment portfolio managers.
  • Managing interest rate risk (IRR), including both short term IRR and long term economic value of equity (EVE) including: analysis and interpretation of results, reporting on results and compliance, and contributing to the design and execution of policies and strategies. Analyzing economic, interest rate, and market forecasts in order to assess the implications to balance sheet management; and recommending strategies to minimize negative impacts to the financial margin, including derivative transactions as required.
  • Managing liquidity operations for AC and LSM and member credit unions ensuring that national, provincial and agreed to requirements are met, and are within policies, procedures and guidelines.
  • Managing on and off-balance sheet securitization programs, including: reporting on results, risks, and compliance; contributing to the design and execution of policies and strategies; ensuring internal and external requirements are met, and are within policies, procedures and guidelines; and developing, implementing and reporting on securitization stress tests. In conjunction with the VP Treasury and Credit Services and the Director, Commercial and Lending Services sets operational goals and quarterly allocations for both on and off-balance sheet securitizations.
  • Managing the funding of the balance sheet to positively impact net margin, liquidity risk, and interest rate risk.  Providing key analysis and modelling of on and off-balance sheet strategies, including securitization, deposit funding, interest rate setting, and credit facilities; providing recommendations as required.
  • Providing annual audit support for all treasury and securitization functions including: preparation and/or analysis of necessary working papers, and additional support as required by both internal and external auditors.
  • Identifying opportunities for process improvements and partners with other departments and/or system partners to implement process improvements related to Treasury and Securitization controls and processes.
  • Providing Nova Scotia Superintendent, Atlantic Provincial Regulators and Atlantic Credit Unions with timely and accurate information and analysis on both Atlantic Central’s and Atlantic Credit Unions liquidity positions and requirements; especially in regard to statutory and internal policy requirements.
  • Serving as the primary resource to the Asset Liability Management Committee, and as a member of the Management Finance Committee.
  • Providing back-up to the Vice-President, Treasury & Credit Services and to the other Treasury & Credit Services roles as required.
  • Completing other duties and projects as may be assigned.

THE PERSON:
The ideal candidate for this position will have successfully completed a Bachelor’s degree with a concentration in Accounting or Finance and a post graduate degree (MBA, CFA, or CPA) plus have 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 also possess the following:

  • Strong oral and written communication skills
  • Strong interpersonal skills
  • Proven planning skills and ability (strategic and tactical)
  • Comprehensive problem-solving skills with proven ability to analyze and interpret complex financial data, assess risk, and prepare financial reports, statements, modelling and projections and provide conclusions and recommendations
  • Demonstrated proficiency of the Microsoft Office applications (advanced Excel, intermediate Word, intermediate Access, beginner PowerPoint), financial accounting, and database applications
  • Demonstrated working knowledge of investment, accounting and financial principles; as well as, economic markets
  • Proven ability in fiscal management and budget preparation
  • Demonstrated working knowledge of accounting standards and regulatory requirements
  • Proven ability in making sound business decisions
  • Demonstrated working knowledge of asset liability simulation modelling
  • Demonstrated working knowledge of asset securitization and securitization products
  • Demonstrated working knowledge of financial services and risk management practices
  • Demonstrated working knowledge of change management skills and principles
  • Proven ability in performing monitoring and compliance responsibilities
  • Demonstrated ability in formulating policies and procedures and implementation of new procedures

COMPETENCY REQUIREMENTS:
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

COMPENSATION:
This is a permanent full-time position and is rated a Salary Level CU-11 ($93,628 – $110,150).  Atlantic Central offers a competitive benefits package as well as the opportunity to participate in the Performance Sharing Incentive Plan.

Applications will close on October 14, 2018.

Interested candidates should forward their résumé, including salary expectations, in confidence, to:

Human Resources Department
Atlantic Central
6074 Lady Hammond Road
Halifax, NS   B3K 2R7

Email: humanresources@aclsm.ca
(When sending applications by e-mail, please send in MS Word format)