Credit Risk Officer

iA Financial Group; Oakville; Hybrid; CAD 110,000 - 140,000; Full time

Job summary

An established industry player is seeking a Credit Risk Officer to oversee risk management strategies and ensure compliance within the financial services sector. This pivotal role involves evaluating credit risk profiles, monitoring emerging risks, and providing strategic insights to support decision-making. The successful candidate will leverage over a decade of experience in finance, particularly in credit risk management, to collaborate with various teams and implement effective risk mitigation strategies. Join a forward-thinking organization that values diversity and invests in its employees, offering a dynamic work environment with opportunities for growth and development.

Benefits

Annual bonus

Work from home options

Flexible working conditions

Diversity and inclusion initiatives

Qualifications

• 10+ years in finance, with 7+ years in credit risk management.
• Bachelor's degree in finance or accounting, with professional certification.

Responsibilities

• Monitor Credit Risk portfolios and ensure adherence to risk management frameworks.
• Conduct risk assessments and provide comprehensive risk reporting.

Skills

Credit Risk Management

Financial Analysis

Analytical Skills

Communication Skills

Regulatory Knowledge

Education

Bachelor’s degree in Finance or Accounting

Professional Certification (CPA, CFA, etc.)

MBA

Job description

• Job category: Business Administration, Finance and Accounting

Department: Dealer Services Level: Director Location: Oakville or Toronto would be preferred but open to other candidates based across Canada Type: Permanent Working Conditions: Working from Home, choice to work from office, attendance for Key Moments

The Credit Risk Officer will ensure integrated and continuous risk management, using structured and consistent processes to identify, assess, manage, and control risks and their impact on activities and results. They will evaluate the sector’s risk profile and confirm adherence to required risk appetite and tolerance.

The successful candidate will be responsible for objectively monitoring Credit Risk portfolios and ensuring application, adherence, and efficacy of the risk management framework. They are responsible for monitoring emerging risks and ensuring that they are considered in the sector's strategic decisions. The Credit Risk Officer is part of the first line of defense responsible (i.e. first line of defense 1B) for the oversight of lending strategies decisions, for risk oversight of models and for developing and monitoring key risk indicators with the credit portfolio of IAAF and will be designated as Business Risk Officer. This role will report to the Senior Director, Risk Management and Compliance of IA Dealer Services -and IA Auto Finance.

Main Responsibilities:

1. Provide the effective challenge of Expected Credit Losses (ECL) Model to ensure adequate provisioning with respect to IFRS9 with the Modeling Director and other functions in IAAF and aligned with the Group Risk Management and Compliance.
2. Develop, monitor, and update key risk indicators (e.g., such as Value at Risk) to measure the risk profile and provide a comprehensive and holistic view of risk across the sector to support decision-making.
3. Coordinate the work required by the Group Risk Management and Compliance team, with sales, pricing, modeling, and other functions within the sector, and successfully implement new initiatives developed by the team. Elaborate and produce regular reporting to Group Risk Management and Compliance.
4. Conduct risk assessments, including financial analysis, industry research, and market trends, to identify emerging risks and opportunities within the credit lifecycle process (e.g., Credit underwriting and adjudication) and work with the Modeling Director and teams to implement the appropriate risk mitigation.
5. Serve in an advisory capacity and, in accordance with the accountability and monitoring protocols agreed upon with Group Risk Management and Compliance for the IAAF Management Team activities.
6. In their role as Credit Risk Officer and first line of defense 1B, participate in executive committee meetings and sector governance meetings, to obtain and communicate the information required to fulfill their role and responsibilities within the sector.

Ideal Background:

1. Minimum 10 years of experience in finance including at least 7 years in a credit risk management position.
2. Bachelor’s degree in a related field such as finance, accounting, actuarial or any relevant field.
3. Hold a professional certification such as a CPA, FSA, FICA, FCAS, CFA or FRM.
4. Knowledge and experience with legal procedures and working with credit collection agencies.
5. Strong understanding of the regulatory environment of the financial services industry in Canada, such as three lines of defenses.
6. Excellent analytical skills.
7. Strong written and verbal communication skills.

What would be an Asset:

1. An MBA.
2. Advanced level in French both written and spoken would be considered an asset.
3. Knowledge and experience in the automotive industry.
4. Experience and knowledge of the sub-prime industry.

Compensation:

The typical hiring range for this position is from $110,000 to $140,000 annually; the base pay offered is based on location and may vary depending on skills, job-related knowledge, experience, and internal equity. All permanent employees of iA are also entitled to an annual bonus.

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See why so many people choose iA!

Company Overview

iA Financial Group is the strength of a company with a human side, with its over 10,000 employees. Together, we have earned the trust of our more than five million clients and 50,000 advisors who have chosen us for their insurance, savings, and wealth management.

With over $235 billion in assets, we’re a key player in the financial services industry in Canada and the United States. The secret to our success? Investing in you, one person at a time. Because, for over 130 years, we have believed that it’s by supporting our employees and surrounding ourselves with the most reputable leaders in the industry, we will continue to innovate.

At iA, we’re invested in you.

Our commitment to Diversity and Inclusion

At iA Financial Group, we support and celebrate diversity. We strive to provide a workplace that is recognized as inclusive for all, regardless of ethnic origin, nationality, language, religious beliefs, gender, sexual orientation, age, marital status, family situation, or physical or mental disability.

Please note that if you need help or assistance to make the recruitment process more accessible for you, write to us. Someone from our team will be happy to assist you.