Associate Director IRRBB

Banque Nationale du Canada; Toronto; Hybrid; CAD 120,000 - 180,000; Full time

Benefits offered by this job

Health and wellness program

Employee Share Ownership Plan

Employee and family assistance program

Preferential banking services

Involvement in community initiatives

Virtual sleep clinic

Job summary

The National Bank seeks an Associate Director to act as a second line of defense for IRRBB, overseeing metrics, stress testing, and governance. You will challenge methodologies, collaborate with ALM and finance teams, and present insights to senior leaders.

Qualifications include 5+ years in risk management or ALM, strong IRRBB expertise, and programming skills in Python/SQL. The role requires hybrid in-office presence and strong analytical communication.

Qualifications

• 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.

Responsibilities

• 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, 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

Skills

IRRBB

risk management

data analysis

dashboard design

analytical mindset

stakeholder communication

stress testing

model interpretation

Education

Quantitative/finance degree

Tools

Python

SQL

QRM

Job description

Area(s) of interest: Capital Markets and treasury, Finance and accounting, Risk management

Location(s): Montreal, Toronto

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 expectationsAbility 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

Skills

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

In addition to competitive compensation, upon hiring you’ll be eligible for a wide range of flexible benefits to help promote your wellbeing and that of your family such as:

• Health and wellness program, including many options
• Employee Share Ownership Plan
• Employee and family assistance program
• Preferential banking services
• Involvement in community initiatives
• 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?

Why work at National Bank?

For an environment that supports your career path

There are many varied opportunities for you to progress and develop, and move ahead in your career. This includes on-the-job learning and training, co-development and pairing with other employees, professional support and mentoring, internal career days or discussion forums with our leaders.

For an inclusive and diverse environment

We foster inclusion in an environment where each person’s unique qualities, whether visible or invisible, are celebrated and valued. We welcome all candidates! What can you bring to your team?