WHO WE ARE:
At MCAN, we are most proud of the team we have built and our team member experience. Our people are respected industry innovators, influencers, and big thinkers. We do things differently than other lenders. Our business isn’t selling mortgages, it’s building relationships.
MCANLIFE is shaped around a culture of customer-centricity for both internal and external clients and powered by genuine collaboration. We are a home for talented professionals seeking a more connected career and one that allows them to use more of their skills.
MCANLIFE means you can connect, discover, and grow.
We are certified from Great Place to Work® Canada 2021-2023 and recognized as one of Canada’s Best Workplaces™ 2022-2023. We are also thrilled to be recognized on the 2024 list of Best Workplaces for Women!
We’re looking for a Manager, Assets and Liabilities Management to join the MCAN’s Treasury team!
SUMMARY:
The Manager, Assets and Liabilities Management (ALM) will report to and collaborate with the Senior Manager, Treasury to manage the interest rate risk of MCAN. This position will own and improve MCAN’s Hedging program with an aim to execute ALM’s strategies. the Manager, ALM will identify and measure interest rate exposures arising from the ongoing business of MCAN, as well as perform analysis to support and recommend hedge instruments and execution strategies.
The position strives for best execution by determining hedge entry points, estimated cost and benefits of hedge transactions and provides transparency and lines of sight to hedging operations by preparing ongoing reporting for ALCO. The Manager, ALM will support the Senior Manager, Treasury in cross collaboration across internal business units and external parties.
Job Responsibilities:Hedging:
- Be a key contributor to the ALM function (Interest Rate Risk management) by overseeing and managing MCAN’s cashflow and Fair value hedging programs.
- Monitor and analyze MCAN’s Interest rate risk profile and assess upcoming exposures by analyzing duration gaps and monitoring MCAN’s construction and Residential pipelines and advances.
- Conduct thorough analysis of financial markets to identify trends, risks and opportunities.
- Evaluate and determine the best entry points for hedging transactions to optimize financial outcomes.
- Perform analysis to determine the cost of the recommended hedge and expected benefit.
- Ensure effectiveness of hedges (via TBSM) and ensure hedge positions remain with risk appetite.
- Provide insights and recommendations to management based on market conditions. Receive approval for execution from Sr Manager, Treasury, VP, Treasurer, or ALCO as appropriate
- Engage with counterparties re: pricing and compare against market rates using Bloomberg
- Update Hedge portal to reflect new hedge details in IRR reports.
- Prepare detailed reports on hedging activities, hedge effectiveness, financial performance, IRR on a daily and monthly basis to management and Asset Liability Management committee.
- Collaborate with Finance, FP&A and Risk teams to support month end GL entries, budget forecasting and setting risk limits.
- Prepare quarterly hedge documentation to external auditors.
- Review and update hedging procedures and policies as necessary to ensure they remain effective and aligned with current risk appetite and regularly requirements.
- Update swap models by adjusting assumptions and data.
- Administer Hedge transactions including the payment and receipt of funds and collateral requirements.
QUALIFICATIONS:
- Bachelor’s degree in Mathematics, Finance, Business Administration, or a related field.
- Master’s degree in Mathematics, Finance, Business Administration, or a related field is an asset.
- CFA level 2 or FRM required.
- Proven experience in ALM or similar role.
SKILLS:
- Strong knowledge and understanding of financial markets and financial instruments.
- Strong analytical and modeling skills for assessing and valuing risk and derivatives instruments.
- Familiarity with hedge accounting, documentation and regulatory requirements is an asset.
- Excellent communication with a view to communicate complex financial concepts to executives and business owners.
The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
We believe great work and collaboration can happen anywhere, which is why we are a permanent hybrid work environment! We equip our team with great technology and empower them to deliver their best results.
We are dedicated to building an organization that reflects the diversity of our clients and the communities we serve across Canada. Do you possess and value the same attributes?
Are you interested in your own development? Then come join our team!
Requests for accommodation can be made at any stage in the recruitment process.
We thank all applicants for their interest but only those selected for further consideration will be contacted.
MCAN is committed to providing accommodation to applicants throughout the job application and interview process to the point of undue hardship. If you require any accommodations, please contact our Human Resources team at hr@mcanfinancial.com
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