Join a Challenger
Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing!) family. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank™, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.
The Work
The purpose of this Senior Manager, IFRS 9 Development & Analytics role is to lead process development for IFRS 9 and provide technical expertise to internal teams.
Reporting to the Associate Director ECL, this individual will be required to support the evolution of processes critical for IFRS 9. Furthermore, the incumbent will need to work with teams across the bank to gather, prioritize and execute business requirements.
Analytics (40%)
- Evolve reporting and analytics through the introduction of new data, processes & methodologies and technology
- Work closely with internal stakeholders as a technical advisor to develop new analytics and/or reporting solutions
- Support IFRS 9 analytics and reporting such as portfolio assessments, and management overlay quantification
- Keep abreast of macroeconomic, regulatory, accounting and other financial industry developments as they relate to EQB's provisioning
- Work in pods in the delivery of new IFRS 9 credit risk models:
- Provide technical and risk expertise to guide the implementation, testing and usage of models
- Produce ECL and credit risk modelling analytics to facilitate conversations on reserve levels for the Bank
Reporting (20%)
- Interpret and distill complex quarterly IFRS 9 trends for executive consumption
- Understand economic trends emerging from Bank’s forecast scenarios, including analyzing and segmenting large amounts of data
- Ensure full adherence to policy and controls in IFRS 9 processes
- Support the education of internal stakeholders on provision trends and analytics
- Ad hoc analytics, research and support where required
- Support effective controls for key processes
Methodology and Process Development (10%)
- Gather business requirements for the ECL Engine and management overlay processes
- Collaborate with internal stakeholders such as Enterprise Data Management, Model Development and Risk Data Management to support changes to key IFRS 9 processes such as the ECL Engine or management overlay processes
- Manage credit loss calculator back-log items and work with the key stakeholders such as Finance to prune and prioritize the backlog
- Contribute to the optimization and automation of analytical and reporting pipelines
- Develop new applications to support IFRS 9 such as new analytical solutions, reporting solutions
Audit (10%)
- Work closely with external or internal auditors in regular and ad-hoc audits as a subject matter expert
- Ensure adherence to regular audit timelines and requirements
Team Management (20%)
- Provide timely guidance and mentoring to members of the team.
- Provide timely and effective feedback to staff.
- Identify and make recommendations on staffing resource requirements needed to adequately execute on key strategic objectives of the team.
- Identify appropriate training opportunities or external courses to improve staff effectiveness.
Let's Talk About You!
- Minimum 5+ years’ experience in a risk management role. Previous FI experience in mortgage lending or knowledge of credit risk life cycle and interested in learning about provisions
- Degree in a business (Finance, Accounting, Commerce, Risk Management) or a quantitative discipline (Applied Mathematics or Statistics, Engineering, Computer Science)
- Knowledge in using Python for analytics would be beneficial
- Professional designations (or in progress) in FRM, CFA, or others related to risk management would be ideal
- Familiarity with IFRS 9 principles and concepts
- Fluent in SQL (MS SQL and Azure SQL), excel, and PowerBI
- Familiarity with confluence or other knowledge management software
- Advanced communication skills (verbal and written) sufficient to convey complex information and concepts into succinct opinions for any audience across different mediums (e.g presentations).
- Self-starter, capable of independently executing a stream of work within the context of a larger initiative
- Comfortable working collaboratively in a team and creating an inclusive environment with people at all levels
- Strong organization, time management and multi-tasking skills; managing and prioritizing multiple deadlines at one time; Familiarity with project management principles
- High attention to detail, ability to review and recommend actions to solve business problems
What we offer [For full-time permanent roles]
💰 Competitive discretionary bonus
✨ Market leading RRSP match program
🩺 Medical, dental, vision, life, and disability benefits
📝 Employee Share Purchase Plan
👶🏽 Maternity/Parental top-up while you care for your little one
🏝 Generous vacation policy and personal days
🖥 Virtual events to connect with your fellow colleagues
🎓 Annual professional development allowance and a comprehensive Career Development program
💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 351 King Street East, Toronto, ON.
Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.
We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. 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.
We can’t wait to get to know you!
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