Deposit Relations Director - Saskatchewan, Canada - EQ Bank | Equitable Bank

EQ Bank | Equitable Bank

Verified Company

Saskatchewan, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Join a Challenger
Being a traditional bank just isn't our thing.

We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what's possible in banking.

Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you're not afraid of taking on big challenges and redefining the future, you belong with us. You'll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.

We are a big (and growing) family.

Overall we serve more than 370,000 people across Canada through Equitable Bank, Canada's Challenger Bank, and have been around for more than 50 years.

Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 5 million members.

Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives.

Our EQ Bank platform ) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.

The Work

Wholesale deposit generation is an integral and strategic objective of the Bank to diversify funding sources and provide stable funding for Bank operations.

This role is responsible for leading and developing a robust strategy for significant deposit generation from the credit union sector.

Credit union deposits are a critical source of liquidity for Equitable Bank and a key product in our credit union offering.

Key accountabilities include a strategic focus on deposit generation through the development of key relationships throughout the credit union and cooperative sector, ensuring a strong and consistent pipeline of deposits from credit unions.

This position focuses on the growth of wholesale deposits as a key product through collaborative efforts between the Credit Union Services team, the SFM team, and the Treasury team.

A key requirement is to ensure deposit offerings support credit unions in managing excess liquidity while also providing a stable source of funding for the benefit of the balance sheet of Equitable Bank.

This role must have a comprehensive understanding of unique provincial regulatory requirements and thorough understanding of any limitations that may affect a credit union's ability to deposit with EQ.

This role is also responsible for managing/providing oversight of the credit union Line of Credit (LOC) product including pricing reviews, funding, and ongoing product management.

In addition, credit underwriting of credit union facilities including LOC's and derivative products are managed by this role.

Additional responsibilities include leading complex or specialized ad hoc projects to support credit union needs and support the SFM team.

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 longterm 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 longterm 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
S