Job Posting Details

Regulatory Risk Consultant (Temporary, full-time, 6 month contract), Central 1 Credit Union

Location:Toronto, Ontario
Posting Date:June 14, 2018
Closing Date:until filled
Web Site:www.central1.com
Employment Type:Temporary

Company Description

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 150 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.

Job Description

BASIC FUNCTION

The successful incumbent for this role will possess strong technical skills in working with subject matter experts to interpret regulatory (OSFI) guidelines, identify gaps, write project specs to close gaps, and document and draft position paper responses to the regulator related to capital and liquidity adequacy requirements for Basel III.  Performing analysis and working with leadership on implementation plans to close gaps whether through written policy or systems driven to ensure that Central 1 is positioned to meet the regulatory requirements as detailed within the: i) Capital Adequacy (CAR) ii) Liquidity Adequacy (LAR) iii) and Leverage.

PRIMARY ACCOUNTABILITIES

  • Interpret and review the regulatory capital requirement with a focus on period over period changes for Exposure, Methodology, Risk Parameter and Risk Weighted Assets
  • Identify and document gaps compared to regulatory guidelines
  • Write project specs to close gaps and prepare position paper to regulator summarizing gaps, solutions, and plan to meet requirements
  • Stay abreast of Basel III updates/requirements as well as the internal regulatory framework to assist with the implementation of new regulations
  • Provide expert responses to senior leadership requests for regulatory analysis of future business plans or proposed regulatory rules / proposals.
  • Lead and conduct ad hoc analytical analysis as requested; e.g. including explanation as to methodology changes, drivers of variances (where applicable) and assessment of rules..
  • Experience in project work to scope, assess requirements, and work with technical resources to deliver automation of requirements.

Qualifications

  • University degree in Accounting, Finance, Economics, Math/Statistics, Operations Research or relevant experience
  • At least 10 years of relevant market and credit Risk with Finance experience
  • Completion of FRM or CFA are an asset but not required for the role
  • A strong and holistic understanding of market and credit risk issues and principles, and how they relate to regulatory oversight.
  • A broad understanding of trends in the financial industry, the credit union system and regulatory environment.
  • Familiarity and experience with financial services business operations and regulatory matters related to Basel II, III, specifically CAR, LAR, and Leverage.
  • Confidence and ability to work with and advise all levels of the organization, including Executive Management.
  • Strong analytical, problem solving, organizational and time management skills.Ability to communicate effectively both orally and in writing with internal and external stakeholders; and adapt easily to changing priorities and business needs. 
  • Expert writing skills in delivering a position paper and mapping an outline with timetables to close gaps in order to meet regulatory requirements

Additional Information

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 and ample vacation time.

Central 1 is committed to diversity and inclusion. If you have a request for a disability-related accommodation, we will work with you to meet your needs.

Reporting to: Director, Credit & Counterparty Risk and VP, Liquidity and Market Risk

Grade: G/H

Date Posted: June 14, 2018

Internal applicants must apply by June 21, 2018

*Unsolicited resumes from vendors will not be accepted for this or any position at Central 1*