Treasury Consulting Director

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 607,000 people across Canada through Equitable Bank, Canada's Challenger Bank™ and EQB Inc.’s majority owned subsidiary ACM Advisors. We 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 6 million members. Together we have $119 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.

The Work

The Treasury Consulting Director has a leadership role in the provision of Treasury Consulting and ALM solutions for credit union clients across Canada. This role is the product owner for ALM related solutions including Balance Sheet Management and Interest Rate Risk Management. The incumbent is responsible for Regulatory Reporting for credit union clients, regarding interest rate risk measures and liquidity risk metrics. The Treasury Consulting Director must have a strong understanding of various provincial regulatory requirements for interest rate risk, liquidity risk and capital risk. This individual is accountable for meeting or exceeding budgeted profitability of the Treasury Consulting solution and is responsible for initiatives that lead business development and grow the client base. Strong organization and multi-tasking are required and the individual must be able to work with a high degree of independence.

The incumbent is responsible to lead and develop a team of experts in providing balance sheet management consulting to clients. Key accountabilities include the development of key relationships through the provision of financial advisory services to credit unions, ensuring profitability, interest rate risk, capital, and liquidity requirements are met. This position focuses on product enhancements/development and collaborative efforts in terms of asset velocity to increase value to both credit unions and Concentra.

Additional responsibilities include leading complex or specialized ad hoc projects to support credit union needs such as for capital planning, stress testing, investment management, or as requested by the credit union. This role is also responsible for managing/providing oversight of the credit union Line of Credit (LOC) product including pricing reviews, funding and ongoing product management. Credit underwriting of credit union facilities including LOC’s and FX forwards are managed by this role.

The core parts of your role would be to:

• Provide specialized knowledge in the area of interest rate risk management and asset liability management – 35%
• Communicate key interest rate risk metrics and strategies to senior credit union management for effective balance sheet management, ensuring regulatory requirements are met.
• Provides an overview of the balance sheet structure and interest rate risk of key clients through simulation modeling, comprehensive analysis and reporting
• Identifies significant interest rate risk levels and develops strategies to reduce interest rate risk while maximizing net interest margin, ensuring capital and liquidity requirements are maintained
• Applies advanced knowledge of modeling techniques and financial management concepts for the enhancement of the interest rate risk simulation and asset liability management
• Recommends innovative and customized solutions to credit union senior management to assist in balance sheet management.
• Builds and fosters strong long-term strategic relationships with credit union clients.
• Educating credit union boards and management on financial management concepts and balance sheet management strategies through ALCO presentations, management and board presentations.
• Remains current with changes in regulatory requirements across applicable provinces in aspects that impact balance sheet management including interest rate risk, liquidity, capital, etc. A key focus will be on staying abreast of more complex regulations by provincial regulators (i.e. BC)
• Provides specialized financial management services to credit unions and other key relationships, focused on active balance sheet management.
• Provide support and guidance for credit union regulatory reporting on interest rate risk, capital and liquidity metrics

Business Development and Relationship Management – 35%

• Develop new market and product initiatives to for credit union solutions to ensure strength and continued viability of solutions

• Builds and fosters strong long-term relationships with credit union clients and other key stakeholders to optimize business development

• Provides training, leadership, and support to the SFM team to be proficient in balance sheet management for credit union clients while cross-promoting the bank’s various business unit product solutions

• Educates credit unions on financial management concepts and balance sheet management, including board and management training

• Seeks new business development opportunities and profitability arrangements with a focus on developing and/or providing additional solutions to existing and new clients

• Identifies, assesses, and manages the financial risks associated with credit union facilities including liquidity risk, market risk and credit risk

• Identifying opportunities for cross-promoting the Bank’s loan, deposit and investment product offerings.

• Leads the team’s annual business targets for SFM in terms of revenue generation and client engagement

• Development of pricing strategies for SFM solutions (products and services) in coordination with leadership from the Senior Director, SFM

• Educates clients on financial management concepts and balance sheet management strategies through ALCO presentations, workshops, conferences, and individual presentations

• Seek new business development opportunities or profitable arrangements with a focus on increasing the client base and/or providing additional services to existing clients.

• Monitor Treasury Consulting income and expense within annual budget targets

• Treasury Consulting fee for service revenue ~ $1.75M per annum

Provide leadership, coaching and development of team members – 15%

• Ensures the department has the guidance and tools required for the execution of their business mandate by providing overall team leadership
• Coordinates efforts of team experts; providing direction and guidance on work activities and priorities
• Coaches and formally supervising employees for optimal performance, engagement & professional development.
• Oversee and manage the workload and workflow of the team (~2-6) to support objectives of SFM team and ensure high level of customer advocacy scores
• Coach, mentor and develop staff including overseeing new employee onboarding and providing career development planning and opportunities
• Lead employees to meet expectations for productivity, quality, and goal accomplishment.
• Create a team culture consistent with the Bank’s risk culture and risk appetite
• Establish and maintain relevant controls and feedback systems to check the information accuracy and integrity of the team’s deliverables.
• Plan and allocate resources to effectively accomplish the team’s deliverables.
• Provide effective performance feedback through target setting, weekly touch base meetings, performance development planning, and formal semi-annual performance reviews

Oversee credit union direct lending product and credit union underwriting – 15%

• Identifies, assesses, and manages the credits risks associated with credit union underwriting (LOC’s, FX Forwards)
• Develops and implements pricing and product specifications for the LOC product
• Oversees credit underwriting to ensure the Bank is following strong credit practices through proper funding, documentation, and monitoring
• Ensure the oversight of financial and credit risks are managed satisfactory in conjunction with other internal stakeholders

Let's Talk About You!

• Sophisticated knowledge of the financial services industry and the co-operative system, including provincial and federal regulatory environments.
• Working knowledge of Bank products, services, corporate and business unit strategies, and marketplace positioning.
• Sophisticated knowledge of financial principles and financial modeling as it pertains to interest rate risk, liquidity, capital and profitability.
• Comprehensive knowledge of balance sheet management.
• Exceptional skills in building and maintaining relationships with credit union clients.
• Expert knowledge of the credit union system and factors impacting liquidity, capital, and profitability
• Comprehensive knowledge of risk management issues related to capital adequacy and regulatory environments.
• Completion of an undergraduate degree in Finance/Commerce/Business Administration is required
• A professional designation in the financial field is required i.e. CFA, CPA, MBA, though a combination of education and experience could be considered
• 5-7 years of progressive management experience in the financial services industry.
• Understanding of credit risk processes and guidelines as it pertains to credit union direct lending and derivative products (FX Forwards, Bond Forwards and Interest Rate Swaps)

Job Complexities / Thinking Challenges

• Requires a high degree of professional relationship skills, as this role works closely with senior-level individuals within the credit union system (Executives, VP’s, Directors).
• Interest Rate Risk is a very specific area of expertise. The job requires a sound background in Interest Rate Risk and the ability to understand a credit union balance sheet and product specifics.
• Ability to interpret results for interest rate risk measures, profitability, liquidity, and capital and make recommendations to enhance these areas without compromising others.
• Candidate must possess a high degree of analytical skills to resolve modeling issues, troubleshoot results, and determine if results are justified based on changes in the balance sheet.
• Candidate will work with outside sources for information, modeling outputs, and spreadsheets that show revenue/expenses, net present value results, and balance sheets. A comprehensive understanding of these concepts is necessary.
• Job demands a very detail-oriented person who has a methodical approach and is a strong problem solver and self-teaching. Candidate must be proactive with co-workers and/or external resources to solve problems.
• The job is responsible for modeling the interest rate risk exposure, profitability/liquidity/capital trends of credit union clients.
• Role requires flexibility/critical thinking to develop written report that details strategy/recommendations pertaining to IRR, profitability/liquidity/capital.

#LI-Hybrid

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 you care for your little one

🏝 Generous vacation policy, personal days and even a moving day

🖥 Virtual events to connect with your fellow colleagues

🎓 Annual professional development allowance and a comprehensive Career Development program

💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.

We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.

We can’t wait to get to know you!