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    Deposit Relations Director - Toronto, Canada - Equitable Bank

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    Full time
    Description

    The core parts of your role would be to:

  • Develop a strong and consistent pipeline of credit union deposits– 60%
  • Identifies opportunities in the credit union system and develops strategies to increase deposits while strengthening net interest margin and ensuring capital and liquidity requirements are maintained for credit unions Identifies opportunities in the credit union system and develops strategies to increase deposits while strengthening net interest margin and ensuring capital and liquidity requirements are maintained for credit unions
  • Document, track, and analyze deposit market intelligence of individual credit unions to determine applicable limitations and opportunities relevant to individual credit unions
  • Work with credit unions to address individual ILP's (investment loan policies) that may need to be reviewed and support credit unions in revising ILP's as needed
  • Understands various CET1 ratings to determine regulatory requirements specific to individual credit unions across differing provincial requirements/regulations
  • Recommends innovative and customized solutions to credit union senior management to assist in decision making Builds and fosters strong long-term strategic relationships with credit union clients
  • Remains current with changes in regulatory requirements across applicable provinces in aspects that impact balance sheet management including interest rate risk, liquidity, capital, etc. A key focus will be on staying abreast of more complex regulations by provincial regulators (i.e., BC)
  • Contribute to the Bank's market relevance and revenue generation – 20%
  • Provides support to SFM team for initiatives to develop and enhance credit union solutions to ensure strength and continued viability of solutions
  • Builds and fosters strong long-term relationships with credit union clients and other key stakeholders
  • Provides training, leadership, and support to the Credit Union Services team to be proficient in deposit opportunities for credit union clients
  • Seeks new business development opportunities and profitability arrangements with a focus on developing and/or providing additional solutions to existing and new clients [TBD if cooperative mandate is larger the CUs]
  • Identifying opportunities for cross promoting the Bank's credit union product offerings.
  • Supports the team's annual business targets for SFM in terms of revenue generation and client engagement
  • Liaise with treasury to determine the rates, cadence and structure of deposit offerings and provide feedback/suggestions on various product offerings
  • Monitor existing, exiting, and incoming deposits and provide monthly analytic based reporting
  • Oversee credit union direct lending product and credit union underwriting – 20%
  • Identifies, assesses, and manages the credits risks associated with credit union underwriting (LOC's, FX Forwards, Bond Forwards, and Interest Rate Swaps)
  • Develops and implements pricing and product specifications for the LOC product
  • Oversees credit underwriting to ensure the Bank is following strong credit practices through proper funding, documentation, and monitoring
  • Ensure the oversight of financial and credit risks are managed proficiently in conjunction with other internal stakeholders
  • Let's Talk About You

  • Sophisticated knowledge of the financial services industry and the co-operative system, including provincial and federal regulatory environments.
  • Strong knowledge of Bank products, services, corporate and business unit strategies, and marketplace positioning.
  • Sophisticated knowledge of financial principles as it pertains to interest rate risk, liquidity, capital, and profitability.
  • Strong knowledge of balance sheet management concepts
  • Expert skills in building and maintaining relationships with credit union clients.
  • Expert knowledge of the credit union system and factors impacting liquidity and profitability
  • Comprehensive knowledge of risk management issues related to capital adequacy and regulatory environments.
  • Completion of an undergraduate degree preferably in Commerce/Business Administration
  • A professional designation in the financial field is preferred i.e., CFA, CPA, MBA, though a combination of education and experience could be considered
  • 5-7 years of progressive management experience in the financial services industry.
  • Understanding of credit risk processes and guidelines as it pertains to credit union direct lending and derivative products
  • What we offer [For full-time permanent roles] Competitive discretionary bonus Market leading RRSP match program Medical, dental, vision, life, and disability benefits Employee Share Purchase Plan Maternity/Parental top-up while you care for your little one Generous vacation policy, personal days and even a moving day Virtual events to connect with your fellow colleagues Annual professional development allowance and a comprehensive Career Development program A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experienceThe incumbent will be working hybrid and in office time will be spent working from Equitable Bank's additional office space located at 351 King Street East, Toronto, ON.


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