Manager, IFRS-9 & Risk Reporting

At CWB, we strive to build value for the people who choose us every day: our people, our clients and our investors. We do this by:

• Putting people first and building relationships with intention

• Seeking out and embracing new ideas

• Believing that how we do things is as important as what we do

Location | Richmond Hill, ON

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The overwhelming majority of our employees say CWB is a Great Place to Work®

We’re different from the big banks in the way we engage our employees - caring, responsive, and armed with an obsession for growing talent. Our reputation is powered by a people first culture that ensures our employees be and feel heard, promotes inclusivity and diverse viewpoints, and inspires collaboration and innovation.

Our employees love CWB. You’ll love it here too.

CWB is seeking a highly skilled and motivated individual to join our team as a Manager, IFRS-9 & Risk Reporting! In this role, the incumbent will have the opportunity to play a pivotal role in the development and sustainable production of our Risk Function. We are dedicated to maintaining compliance with regulatory and financial reporting requirements, and your contributions, whether through equivalent experience or educational qualifications such as CWB, will be key to achieving this goal.

As the Manager, IFRS-9 & Risk Reporting, the primary responsibility will be focused on IFRS-9 reporting and analysis! Contributing to the analytics of IFRS-9 ECL and Stage 2 under various scenarios, supporting our regulatory reporting and public disclosure efforts. Additionally, the successful incumbent will be involved in the implementation of new/updated IFRS-9 models.

• Operating and maintaining the IFRS-9 ECL calculation engine and related processes to produce timely and accurate risk-based ECL results.

• Validating process inputs and outputs for quality control and governance.

• Providing in-depth analysis on IFRS-9 results and identifying key drivers for ECL movements.

• Collaborating with Finance, Model Development, Model Governance and Validation, and Internal Audit.

• Preparing risk-based ECL production results, analysis, and presentation materials for IFRS-9 stakeholders.

• Assisting in fulfilling on-demand tasks requested by IFRS-9 partners and senior leadership with accuracy and efficiency.

• Identifying, suggesting, and implementing opportunities for enhancing IFRS-9 reporting, analysis, and control.

• Conducting insightful impact analysis for model updates, data migration, and process changes.

• Contributing to the improvement of IFRS-9 staging methodology, including model development and validation activities.

• Crafting and updating documentation related to IFRS-9.

• Reviewing and evaluating the technical implementation and results.

• Contributing to strategic risk initiatives by projecting potential losses and making recommendations to limit risk.

• Gaining a deep understanding of the needs of internal clients' business and devising creative solutions that have a positive impact.

In addition to IFRS-9 Risk Reporting, this position will have the opportunity to enhance our scenario analysis processes to produce IFRS-9 risk-based ECL and impairment projections. The Manager will review scenario analysis results, provide insights, and prepare presentation materials and reports for senior management and regulators. Furthermore, they will support the reporting and disclosure of IFRS-9 ECL and Stage 2, regulatory capital, and economic capital. And contribute to CWB's A-IRB implementation program in line with emerging regulatory expectations.

• A master's degree or equivalent experience in a relevant field such as Financial Engineering, Finance, Economics, Statistics, Mathematics, or Computer Science.

• Completion or progression in CFA and/or FRM, or equivalent experience, would be an asset.

• Completion of SAS certification would be an asset.

• Two to three years of professional experience in risk management areas, with previous risk reporting experience in Canada being advantageous.

• Hands-on experience in IFRS-9 ECL calculation, reporting, control, and analysis.

• Experience in stress testing and ICAAP, with knowledge in Economics being beneficial.

• Proficiency in handling, balancing, and interpreting large and complex enterprise-level data sets.

• Strong skills in operating and maintaining production-level risk processes.

• Excellent business and/or technical writing skills with clear and concise written communication skills.

• Proficiency in SAS, Python, MS Excel (VBA), and SQL.

• In-depth understanding of credit risk modeling and analytics.

• Working knowledge of IFRS-9 and regulatory requirements.

• Excellent analytical skills to identify the causes of risk changes and their impact on business and strategy.

• Ability to effectively communicate analysis and explain results in a simple and concise manner.

• Strong skills in effectively maintaining relationships, building connections, and influencing others.

• Strong attention to detail and the ability to understand the big picture.

• Experience working effectively under pressure and delivering results.

• Exceptional critical thinking and learning skills, with the ability to work independently with limited guidance.

Wellness matters. We offer an award-winning benefits package that includes:

• Hybrid work environments

• Everyday flexibility

• Generous company-funded health coverage

• Health care spending account

• A flexible wellness program

• generous time-away options to unplug, rest & recover

Career development. We commit to our employees’ development and help them reach their professional goals with:

• Organization wide coaching services

• Mentorship

• Education support & training programs

Bring your whole self to work. Inclusion is a journey requiring practice & experience to result in a powerful outcome. Your perspective matters & voice will be heard. Find community within the CWB family in our employee represented groups.

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As an equitable employer, CWB Financial Group is committed to providing a safe and inclusive environment where a diverse workforce thrives. You are welcomed and encouraged to bring your whole self to work. Dignity, respect and equality are non-negotiables. If you require accommodation during any part of the recruitment or selection process, please reach out.

* Position closes at 12:01am on the close date identified below.