Associate Director, Risk Analytics and Stress Testing

Equitable Group; Toronto; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

An established industry player is seeking an Associate Director of Stress Testing to join their dynamic team. This role involves coordinating and executing critical stress testing activities, ensuring compliance with regulatory guidelines, and providing analytical insights to senior management. The ideal candidate will lead cross-functional teams, develop strategic roadmaps, and enhance the technology infrastructure for stress testing initiatives. Join a forward-thinking organization that values innovation and offers a competitive benefits package, including a discretionary bonus and comprehensive health coverage. Embrace the opportunity to redefine banking experiences in a supportive and inclusive environment.

Benefits

Competitive discretionary bonus

Market-leading RRSP match program

Medical, dental, vision, life, and disability benefits

Employee Share Purchase Plan

Maternity/Parental top-up

Generous vacation policy

Annual professional development allowance

Virtual events to connect with colleagues

Qualifications

• 7+ years in Stress Testing and Enterprise Risk Management.
• Experience leading teams and executing enterprise initiatives.
• Strong understanding of credit risk and financial regulations.

Responsibilities

• Coordinate credit stress testing activities and compliance with regulations.
• Support design and execution of stress tests for various scenarios.
• Lead and mentor the stress testing team for effective delivery.

Skills

Stress Testing

Portfolio Analytics

Enterprise Risk Management

Finance

Economic Research

Communication Skills

Leadership

Time Management

Education

Post-secondary education in Economics

CFA

FRM

SCR

Tools

Financial Statements

IFRS 9

Job description

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 Associate Director of Stress Testing reports directly to the Sr. Director of Risk Analytics and Reporting. In this role, the incumbent will assume responsibility for supporting the coordination, development, and execution of all credit stress testing activities, including supporting Enterprise-Wide Stress Testing (EWST), OSFI Macro Stress Testing (MST), Internal Capital Adequacy Assessment Process (ICAAP) stress testing, and quarterly board reporting. This role will support stress testing initiatives and coordinate cross-functional teams to ensure the fulfillment of all credit stress testing requirements and compliance with regulatory guidelines. Collaborating closely with senior management, the Associate Director will support the formulation of roadmaps and implementation plans for credit stress testing while providing analytical insights to the team.

Credit Stress Testing Supporting EWST (30%)

• Support the design, development, and maintenance of credit stress testing, including implementation plans, policies, procedures, and infrastructure.
• Ensure that the Bank’s Stress Testing policy and procedures align with relevant regulatory guidelines (e.g., OSFI E-18, OSFI E-19, OSFI B-15, BCBS 450).
• Support the end-to-end development and implementation of credit stress tests, supporting the enterprise stress testing program.
• Support enhancement of technology infrastructure and underlying processes for an enterprise-wide stress testing solution, integrating results from stress testing of Credit risk.
• Coordinate and manage key relationships with Finance, Treasury, Business Lines, Model Development, and Model Validation for timely delivery of credit stress testing outputs.
• Support a robust credit stress testing governance process with adequate controls and oversight.
• Coordinate and support execution of credit risk stress testing.
• Provide expertise to advance the use of stress testing results for senior management decision-making and risk management purposes.
• Drive ad-hoc stress testing, including stress testing to evaluate new products, acquisition of portfolios, etc.
• Support integration of stress testing results to derive risk appetite limits.

Regulatory Stress Testing (30%)

• Coordinate and support interpretation of scenarios and requirements for regulatory stress testing such as OSFI Macro Stress Testing (MST). Provide responses to ongoing OSFI questions.
• Gather and execute requirements to support credit stress testing enhancements, aligning with upcoming MST stress tests.
• Support execution of credit risk stress testing.
• Provide expertise to interpret credit stress testing results for senior management and offer thought leadership in forecasting management actions in response to stressed results.

Credit Risk Stress Testing Supporting ICAAP Stress Testing (30%)

• Support design, development, and maintenance of credit stress testing to support ICAAP.
• Lead execution of a suite of credit stress tests to support quarterly ICAAP reporting.
• Support analytics to determine appropriate levels of Pillar II ICAAP capital add-ons specific to credit risk.

Team Leadership and Development (10%)

• Provide thought leadership to the stress testing team and coordinate the delivery of key initiatives, including EWST, ICAAP, and MST.
• Support the development of the team’s core functions, managing, mentoring, and assisting in staff’s professional growth.

Let's Talk About You!

• A post-secondary education in Economics, Accounting, Finance, Mathematics; CFA, FRM, and SCR preferred.
• Minimum 7+ years of experience in Stress Testing, Portfolio Analytics, Enterprise Risk Management, Finance, Economic Research.
• Minimum 5+ years of experience in leading teams and enterprise initiatives with successful execution and delivery.
• Solid understanding of AIRB, ICAAP, EWST, MST, IFRS 9, Financial Statements, and Retail and Commercial businesses.
• Exceptional knowledge in Stress Testing, Economics, Credit Risk, Finance, and Liquidity.
• Strong organization, time management, and multi-tasking skills; ability to work at a fast pace and manage multiple deadlines.
• Excellent oral and written communication skills, as well as presentation skills to comfortably conduct presentations to senior and executive management.
• Ability to identify and provide viable options and recommendations to support effective decision-making.
• High attention to detail, hands-on, detail-oriented reporting, and ability to influence senior management.
• Ability to effectively manage a team and mentor junior team members; lead by example and align team focus into a cohesive vision.

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 caring for your little one
• Generous vacation policy and personal days
• Virtual events to connect with colleagues
• Annual professional development allowance and 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 work in a hybrid model; in-office time will be spent at 2200-25 Ontario Street, Toronto, ON.

Equitable Bank is deeply committed to inclusion. Our organization is stronger when we honor and celebrate everyone’s diverse experiences and perspectives. We support and encourage our staff to grow both in their careers and personally.

We are committed to providing a barrier-free recruitment process and work environment. Please inform us of any accommodations needed to bring your best self to the application process and beyond. All candidates considered for hire must pass a criminal background check and credit check. Only leading candidates whose skills and qualifications closely match the requirements will be contacted.

We look forward to getting to know you!