Associate Director IRRBB

National Bank of Canada; Montreal; On-site; CAD 120,000 - 180,000; Full time

Benefits offered by this job

Health & wellness

Pension plan

Employee Share Ownership Plan

Employee assistance program

Telemedicine

Flexible insurance

Job summary

National Bank of Canada is seeking an Associate Director to provide second line of defense for IRRBB, overseeing risk identification, monitoring, and governance while partnering with first line in ALM, investment, and finance.

You will independently validate metrics, assess emerging risks, review stress tests, and prepare analyses for senior stakeholders. This role emphasizes rigorous analytical thinking, clear communication, and a strong control mindset in a Canada-wide context.

Qualifications

• University degree in quantitative or finance discipline.
• 5+ years in risk management, treasury, or ALM with IRRBB expertise.
• Strong balance sheet risk management and IRRBB framework knowledge.
• Ability to analyze and challenge risk metrics and model outputs.
• Experience with data analysis and programming (QRM, Python, SQL).
• Experience designing dashboards for risk monitoring.
• Strong communication with first line and senior stakeholders.

Responsibilities

• Monitor and validate IRRBB metrics, earnings, EVE, limits, and early warnings.
• Identify IRRBB risks, assess impact, and ensure escalation.
• Review stress tests and model outputs for decision-making.
• Challenge methodologies with ALM and Finance teams.
• Contribute to stress testing design, governance and controls.
• Prepare historical and forward-looking analyses for leadership.
• Participate in external disclosures and internal reporting.

Skills

IRRBB expertise

Data analysis

Python

SQL

Dashboard design

Stakeholder communication

Risk governance

Education

University degree in quantitative or finance

Tools

QRM

Job description

As an Associate Director, you will play a key second line of defense role in overseeing Interest Rate Risk in the Banking Book (IRRBB). You will be responsible for identifying, monitoring, and challenging key and emerging IRRBB risks, ensuring a robust governance framework, and supporting compliance with evolving regulatory expectations.

This role offers a meaningful opportunity to influence risk outcomes through independent oversight, analytical insight, and close collaboration with first line stakeholders, leveraging your expertise in banking, financial markets, and risk management.

Your role

• Monitor, review, and independently validate IRRBB metrics, including earnings and economic value-based measures, limits, and early warning indicators
• Identify key and emerging IRRBB risks, assess their potential impact, and ensure appropriate escalation and governance
• Review, challenge, and interpret stress test scenarios and sensitivity analyses, and model outputs to support risk-based decision-making.
• Work closely with first line ALM and Investment and Finance teams to provide effective challenge on methodologies, assumptions, data, and risk mitigation strategies
• Contribute to the design, enhancement, and governance of stress testing frameworks and controls related to IRRBB and structural balance sheet risks
• Prepare and present in-depth historical and forward-looking analyses to support discussions with senior stakeholders and decision‑making bodies.
• Participate in the external disclosure and internal reporting processes, ensuring accuracy, consistency, and regulatory alignment

Your team

The ALM, Investment and Pension Fund Risk Oversight team in the second line of defense provides independent oversight of the Bank’s balance sheet and market‑related risks, including:

• Interest Rate Risk in the Banking Book (IRRBB), including regulatory metrics and stress testing
• Oversight of Treasury and investment activities

The team plays a critical role in supporting senior management by delivering clear, timely, and risk‑based insights, while maintaining strong independence from the first line of defense.

Requirements

• University degree in a quantitative or finance related discipline
• Minimum 5 years of relevant experience in risk management, treasury, or ALM, with strong IRRBB expertise
• Very good understanding of balance sheet risk management, IRRBB frameworks, stress testing, and regulatory expectations
• Ability to analyze, interpret, and challenge risk metrics, stress test results, and model outputs
• Experience with data analysis and programming (QRM, Python, SQL)
• Demonstrated experience designing and developing dashboards to support risk monitoring, data analysis, and decision‑making
• Strong analytical mindset, attention to detail, intellectual curiosity, and sound judgment
• Ability to communicate risk insights clearly and engage constructively with first line and senior stakeholders

Minimum of 3 days per week in the office

Languages: French

Required skills: Artificial Intelligence, Diversity & Inclusion, Empathy, Initiative, Interest Rate Risk in Banking Book, Learning Agility, Stress Testing, Teamwork

Your benefits

• Health and wellness program, including many options
• Flexible group insurance
• Generous pension plan
• Employee Share Ownership Plan
• Employee and family assistance program
• Preferential banking services
• Involvement in community initiatives
• Telemedicine service
• Virtual sleep clinic

We have an offer that keeps up with trends as well as your needs and those of your family.

Our dynamic work environments and cutting‑edge collaboration tools foster a positive employee experience. We value employees’ ideas. Whether through our surveys or programs, regular feedback and ongoing communication are encouraged.

Making a bold move in a people‑first environment

We’re a bank on a human scale that stands out for its courage, entrepreneurial culture, and passion for people. Our mission is to have a positive impact on people’s lives. Our core values of partnership, agility, and empowerment inspire us, and inclusion is central to our commitments. We aim, wherever possible, to provide a barrier‑free and accessible environment to all employees.

We strive to provide accessibility measures throughout the recruitment process within the limits of our available resources. If you require accommodations, feel free to let us know during our initial conversations. We welcome all candidates! What can you bring to our team?