Financial Data Analyst - Toronto, Canada - HomeEquity Bank

HomeEquity Bank

Verified Company

Toronto, Canada

3 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

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, with a 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.

We Are Customer-Focused, Passionate Advocates.

We Have the Courage to Act and Do the Right Thing.

We Are One Team, with One Vision.

We Think Long-Term, We Are Ever-Evolving.

We Strive to Be Exceptional and Inspire Greatness.

The role is a critical member of the Finance team and will assist developing, updating and maintaining technological business tools, platforms, models and procedures used in the financial results of HomeEquity Bank (the Bank).

The tools include those relating to accounting, reporting, treasury, capital and underwriting.

It will combine accounting knowledge and data analyst skills to support efficiency and accuracy with the preparation of monthly results providing detailed analysis thereof.

The role utilizes the Finance database and intranet site which incorporates the Bank's mortgage information and external market information. The database is the combination of several models used by the Bank. These models, key to the Bank's operation and reporting infrastructure, are stand alone and integrated with one another.

The intranet site and database tables are used by multiple departments across the Bank supplying detailed information on the mortgage portfolio and monthly mortgage activity.

MAJOR ELEMENTS OF THE ROLE
Database management

Assist with the creation and maintenance of the database housing the details of the mortgage portfolio.
Reconcile the mortgage data to the core mortgage system (MARS).
Work with the Enterprise Systems team when MARS data schemas are modified to ensure continued data feeds.
Maintain the database to HEB's standards for controls including user access, data integrity and performance.
Deploy data analyst skillset to manage efficiency in the functionally of reports, complex calculations and queries received from executives and others.

OSFI Mortgage Risk Weighting

Maintain an understanding of the OSFI CAR Guideline for the Capital Risk Weight to be applied to the mortgage portfolio.
Incorporate changes and updates to the Guidelines as required. Provide detailed analysis of the impact of the updates.
Maintain documentation of the process and calculations.
Maintain stress testing models for ICAAP including the development of geographic regions with differing stress testing assumptions. This aspect of the role requires liaising with members of the Treasury Department.

IFRS ECL Reserves

Obtain a thorough understanding of the IFRS 9 requirements for the Bank's mortgage reserves.
Support the maintenance of the IFRS ECL methodology:
Mortgage by mortgage assessment;
Review the integrity of underwriting assumptions used by the ECL methodology in the Bank's mortgage enterprise system (MARS);
Utilization of the Bank's Cash Flow model;
Assessment of future interest rates and property appreciation rates.
Incorporate and maintain the forwardlooking information into the calculations.
Perform detailed analysis and run stresstesting scenarios to support monthly ECL results.
Provide detailed analysis of the impact of changes as needed based on proposed amendments to the methodology.
Maintain documentation of the process and calculations.
Key member for ECL support in the Bank's enterprise mortgage system (MARS).

Expected Occupancy Term (EOT)
Cash Flow Model
Real Estate Market

Keep abreast of the Canadian real estate market activity, home sales, sale prices, etc.
Capture and incorporate CREA monthly real estate market activity into the ECL methodology.
Maintain and align funded data with real estate boards at the city/FSA level.
Provide market analysis in the assessment of the mortgage portfolio LTVs and resulting reserves.

Treasury
Cross Department Support

Maintain reports and queries supporting other department requests.
Support Client Relations, Operations, Risk, IT, Marketing when required support issues on mortgage balances and activity, interest calculations, reappraisal requirements.

Enterprise Support

Respond to adhoc query requests from endusers and to user requests for data changes/corrections.

SKILLS AND EXPERIENCE REQUIRED

Qualifications:

University Degree and 5 years+ experience in a Canadian financial institution working in an analytical capacity.
Bachelor's degree in data analysis or statistics or similar formal studies that developed an educational foundation in accounting, finance, economics or mathematics.