Manager, Risk and Resolution
Location: Ottawa or Toronto
Competition #: 1293
Language Requirements: BBB
Closing Date: June 23, 2020
Our vision is to earn the trust of Canadians as a global leader in deposit insurance and resolution. At CDIC, we offer you the unique opportunity to provide financial peace of mind to Canadians in a stimulating, diverse and inclusive work environment. Let’s work together to build trusted relationships and to deliver quality service to all Canadians.
The Manager is accountable for early detection of vulnerabilities and risks posed by the portfolio of member institutions and ensuring that CDIC is adequately prepared to respond to a failure of a member. The Manager will, as required, assist with execution of intervention actions or a resolution in the event of a member failure, which will involve operating effectively within a crisis environment, and may include working long hours either from the CDIC office or from home, or travel to member’s locations.
- Ensures that CDIC maintains a robust assessment of the vulnerabilities and risks posed by a portfolio of members.
- Acts as a subject matter expert in development of playbooks (including developing and maintaining legal templates for implementation of the CDIC’s resolution tools), operational manuals and resolution plans for our members. Identifies resolvability risks and monitors development of mitigating actions. Contributes to the corporate-wide preparedness and training.
- Builds on experience and skills to formulate recommendations, provides advice and support in areas relevant to assessment of risk and resolution of a troubled member. Participates in execution of CDIC’s special and preparatory examinations with third-party service providers.
- Plans and executes elements of the resolution strategy for a troubled member. Carries out or coordinates legal, structuring or due diligence activities in connection with the development and implementation of resolution transactions (including liquidation associated with payout of deposit insurance) or financial assistance.
- Contributes to the estate management involving CDIC’s claim in the estate of a failed member institution and any compensation process resulting from a resolution, except for general litigation claims by or against CDIC.
- Prepares reports to CDIC Leadership teams and Board of Directors on preparedness and intervention activities for high risk members.
- Manages relationships with the federal safety net members (FISC), member institutions, domestic and foreign stakeholders for CDIC’s member institutions, and third-party service providers.
- Contributes to the maintenance of CDIC’s methodologies for member risk assessment and resolution, playbooks and analytical framework of member information.
- Contributes, as a subject matter expert, to advancing policy and preparedness issues domestically and internationally (FSB, FISC). Participates in domestic and international working groups.
- Supports the Crisis Simulation team on design of testing exercises.
- Conducts special projects to assist the Group and the Corporation, as required.
Qualifications and Experience
A combination of education and experience would be considered.
- A degree in a relevant field (i.e. finance, law, economics, or business administration). A professional designation (e.g. CFA, FRM, CPA, CBV) would be an asset.
- Over 5 years relevant experience in financial services industry, financial industry regulation, corporate insolvency practice or mergers and acquisitions, fields of expertise may include:
- Insolvency and restructuring (e.g. loan workouts);
- Financial risk management experience in financial sector (e.g. credit risk management, commercial lending, bank audit, treasury risk management);
- Corporate finance or mergers and acquisitions;
- Analysis of financial institutions’ performance, asset and portfolio valuation.
- Experience in managing projects.
In order to meet the challenges associated with this role, the Manager should have a combination of the following skills:
- Solid understanding of the financial risk management, (i.e. credit risk management, treasury risk management), and/or analysis of financial institutions performance, legislation and regulatory oversight applicable to CDIC’s member institutions, and the economic and policy issues affecting the Canadian financial system and how they might impact CDIC’s membership.
- Technical competence, sound professional judgment and mastery of complex accounting, taxation, credit, treasury and corporate finance issues.
- Proficiency in the use of analytical and word processing applications including Microsoft Office applications, business intelligence software, Bloomberg, and statistical programs.
- Problem solving skills and an ability to work effectively towards a solution with senior management, consultants, senior officers of regulatory bodies and management of member institutions.
- Ability to manage internal and external relationships (e.g. with senior management of the CDIC’s members, with peers at the federal safety net members).
- Effective communication and presentation skills and the ability to distill and explain complex issues to a variety of audiences.
- Ability to execute long-term projects while remaining adaptable in reacting to fast developing situations.
- Ability to remain calm and work under pressure and deliver results within tight deadlines.
- Fluency in both official languages is considered a strong asset. Achievement of “BBB” proficiency ratings in both of Canada’s official languages may be required depending on the skill sets available in the Group at the time.
Conditions of Employment/Security Clearance
Level II, Secret
- One permanent position is currently available.
- Due to Canadian immigration regulations, we can only consider applications from Canadian citizens or other individuals legally entitled to work in Canada and obtain necessary security clearances. Please indicate in your cover letter the reason for which you are entitled to work in Canada: Canadian citizenship, permanent resident status or work permit.
- CDIC is a federal agency (separate employer) and does not fall under the Public Service Employment Act.
- CDIC is committed to Employment Equity and encourages the equitable participation of all Canadians. If your application is retained and you require any special accommodation during the selection process, please advise us. Information received relating to accommodation measures will be addressed confidentially.
- If you are interested in joining a dynamic and growing team that contributes to the stability of Canada’s financial system and meet the required qualifications we invite you to forward your résumé and covering letter describing how you could contribute to our organization at email@example.com. Please quote competition #1293.
- We would like to thank all candidates who apply; however, only those selected for an interview will be contacted.