Associate Director IRRBB

National Bank of Canada; Toronto; On-site; CAD 110,000 - 170,000; 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

National Bank of Canada is seeking an Associate Director to serve as a second line of defense for Interest Rate Risk in the Banking Book (IRRBB). You will identify and challenge IRRBB risks, validate metrics, and support governance with independent analysis.

In collaboration with ALM and Investment teams, you will review stress tests, interpret model outputs, and prepare clear risk insights for senior stakeholders.

Qualifications

• University degree in a quantitative or finance related discipline.
• Minimum 5 years of risk management, treasury, or ALM experience with IRRBB expertise.
• Strong understanding of balance sheet risk management and regulatory expectations.
• Experience with data analysis and programming (Python, SQL).
• Demonstrated ability to design dashboards for risk monitoring and decision-making.

Responsibilities

• Monitor, review, and independently validate IRRBB metrics, limits, and early warning indicators.
• Identify key and emerging IRRBB risks, assess impact, and ensure escalation and governance.
• Review stress test scenarios and model outputs to support risk-based decisions.
• Collaborate with first-line ALM and Investment teams to challenge methodologies and data.
• Contribute to stress testing framework design, governance, and controls for IRRBB and balance sheet risks.
• Prepare and present analyses to senior stakeholders and decision-making bodies.
• Participate in external disclosure and internal reporting processes with accuracy.

Skills

IRRBB

Python

SQL

QRM

Data analysis

Dashboard design

Risk management

Stakeholder comms

Education

Degree in quantitative or finance

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

• 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

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?