Financial Data Manager - Old Toronto, Canada - HomeEquity Bank

Description

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we're passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, witha range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.

Our Values, Our Passion

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

Courage to Act. Do the Right Thing

One Team. One Vision

Think Long-Term. Ever-Evolving

POSITION SUMMARY

The role is a critical member of the Finance team and will be responsible for developing, updating and maintaining technology business tools, platforms, and procedures used in the financial results of HomeEquity Bank (the Bank). The tools include those relating to accounting, reporting, treasury, capital and underwriting.

The role will combine banking and/or accounting knowledge and computer coding skills to support efficiency and accuracy with the preparation of monthly results providing detailed analysis thereof.

The role maintains the Finance database which incorporates the Bank's mortgage information and external market information. This database is used by multiple departments across the Bank and is the repository of information on the Bank's mortgage portfolio and monthly mortgage activity.

Among other purposes, the Finance database is used to meet the Bank's regulatory and financial reporting requirements: Risk Weighting and Mortgage Reserve calculations. The Risk Weighting of the mortgage portfolio is the single largest component in the determination of the Bank's Risk Weighted Assets in its capital calculation. The Mortgage Reserve calculation is a complex calculation that must adhere to accounting requirements as well as other regulatory guidelines.

MAJOR ELEMENTS OF THE ROLE

Database management (integrity checking, report making, presentation layer and dashboards) with a focus on corporate reserves, home values and trend analysis.

• Maintenance of the database housing the details of the mortgage portfolio.
• Reconcile the aforementioned data to the core mortgage system (MARS).
• Work with the Enterprise Systems team when source data schemas are modified to ensure continued operation.
• Build user interfaces for reporting and analytics as required.
• Maintain the database to HEB's standards for controls, user access and data integrity.
• Maintain coding language skillsets to leverage efficiencies in the functionally, complex calculations and queries received from the user community.

Risk & Reserves and Related Financial Models

• Maintain a thorough understanding of the provisioning and reserve calculations used in industry and as prescribed by governing regulations.
• A leader in the development and maintenance of the Risk & Reserves methodology including:
• Mortgage by mortgage assessments;
• Assessment of future interest rates and property appreciation rates.
• Perform detailed analysis and run stress-testing scenarios to support monthly Risk & Reserves.
• Maintain an in depth understanding of Bank models including:
• Cashflows;
• ECL and Individual Allowances;
• Risk Weighting;
• Occupancy Terms;
• Maintain documentation of the Finance models.
• Keep abreast of the Canadian real estate market activity, home sales, sale prices, economic reports and other sources of information.
• Capture and incorporate CREA monthly real estate market activity into the Risk & Reserves methodology.
• Provide market analysis in the assessment of the mortgage portfolio LTVs and resulting Risk & Reserve numbers.

Cross Department Support

• Maintain reports and queries supporting requests from other departments.
• Support Client Relations, Operations, Risk, IT, Marketing when required – support issues on mortgage balances and activity, interest calculations, re-appraisal requirements and other metrics as requested.
• Respond to ad-hoc query requests from end-users and to user requests for data changes/corrections.

SKILLS AND EXPERIENCE REQUIRED

Qualifications

• Bachelor's degree in computer science and/or similar formal studies that developed an educational foundation in computer coding, finance, economics or mathematics.
• Knowledge of version control systems and popular source code tracking and development tools such as Visual Studio Code.
• Familiar with the syntax and application of languages such as SQL, VB.Net and HTML.
• Experienced in the retrieval and manipulation of data through SQL statements and in-language libraries and an in-depth understanding of data transformation and manipulation such as data sources, data staging and data sharing.
• Familiar with tools such as Python, VB.Net, VBA and the function and properties within System. Data.SQL namespace working primarily in a VB.Net environment.
• Experienced in writing complex SQL queries to retrieve information from relational databases. Experienced in writing and presenting information for end users to present data to a variety of presentation layers including, but not limited to, MS Excel; experience using 3 rd party WEB controls, specifically Telerik. Knowledge of VB.Net and HTML required.
• Familiarity with financial concepts such as, but not limited to, mortgages, simple interest, compound interest, property appraisals, weighting, payments of principal and interest, penalties, rates of interest, spreads, underwriting, risk factors associated with said concepts, financial reporting (IFRS and OSFI), future value, present value, nominal value, probabilities, statistical analysis, materiality, verification, relevance, external and internal audit, workflow and segregation of duties, developing estimates, evaluating assumptions, documenting workflow and processes, etc.
• Very experienced PC user in a Windows environment.
• Knowledgeable user of desktop applications (MS Access, Outlook, MS Word, Excel, Power Point etc).

Attributes

• Strong reasoning and analytical skills.
• Excellent verbal and written communication skills.
• Collaborative working style with the ability to take initiative.
• Team player combined with an ability to work independently and know when to make decisions and when to seek input from others.
• Hybrid office environment, 3 days per week in office

WHY WORK AT HOMEEQUITY BANK?

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

A Dynamic Culture – With People at the Centre

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto's Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures , the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say 'great job' to their colleagues and leaders.

From our Appreciate Program to the High Five Award Program and President's Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness

Stay in the Know

Find out what we're up to online, and learn more about what makes HomeEquity Bank a great place to work:

• 200 Bay St., Toronto, ON M5J 2J1, Canada