Director, Valuation and Stress Testing
Competition #: 1272
Language Requirements: BBB
Closing date: June 9, 2020
Our vision is to earn the trust of Canadians as a global leader in deposit insurance and resolution. At CDIC, we offer you the unique opportunity to provide financial peace of mind to Canadians in a stimulating, diverse and inclusive work environment. Let’s work together to build trusted relationships and to deliver quality service to all Canadians.
The Director, Valuation and Stress Testing (VST) is responsible for the development and maintenance of a valuation and stress testing team to supplement member risk assessment and support resolution planning and preparedness activities. The Director VST will work closely with internal and external stakeholders and lead CDIC’s engagement on quantitative matters.
The Director VST’s main functions are to supplement member risk and resolution assessments through quantitative liquidity and solvency analysis and modelling. The Director will work closely with internal and external stakeholders, including Financial Institutions Supervisory Committee (FISC) member institutions and international stakeholders.
- Build and maintain CDIC’s top-down solvency stress-testing model capabilities, to provide on-demand estimates of the performance and capital adequacy of member institutions conditional on a particular macroeconomic stress scenario;
- Build and maintain CDIC’s liquidity stress-testing model to provide on-demand estimates of the survival horizon of member institutions, conditional on a particular idiosyncratic scenario;
- Build and maintain CDIC’s fundamental and relative valuation models to support CDIC’s role as the resolution authority;
- The Director VST will use stress testing and valuation models to support recommendations and decisions on loss minimization activities, provide estimates of liquidity and solvency runways, and evaluate resolution strategies for their impact on financial stability and CDIC’s financial exposure;
- Provide financial modelling and analytical expertise to core areas of CDIC;
- Foster research and innovative thinking on financial sector issues and their impact on CDIC;
- Maintain key relationships with stakeholders at other safety net agencies as well as academics, to exchange information, leverage collaborative work efforts, and promote CDIC’s views on thematic and emerging issues;
- Represent CDIC at key stakeholder and interagency meetings on financial sector and macroeconomic issues;
- Identify knowledge-sharing and training opportunities for CDIC staff related to emerging financial sector and deposit insurance issues;
- Manage and mentor a team of quantitative analytical professionals.
Qualifications and Experience
- Graduate degree in a relevant field (e.g. economics, business administration, finance). A professional designation (CFA, FRM, CPA, CBV, etc.) would be an asset;
- Minimum 8-10 years of experience in Canadian banking and/or a Canadian financial safety net agency;
- An equivalent combination of education and experience may be considered;
- People management experience;
- Knowledge of graduate-level panel-data and multivariate time-series econometrics;
- Ability to implement econometric models in statistical software (i.e., R, Python, MATLAB, etc.);
- Strong problem-solving skills, including the ability to analyze complex economic and financial data;
- Solid understanding of economic and regulatory issues impacting CDIC, member institutions, and the Canadian financial system.
- Technical competence, sound professional judgment, and knowledge of complex accounting, taxation, credit, treasury and corporate finance issues;
- Demonstrated ability to grasp strategic and technical issues and effectively communicate such issues verbally and in writing;
- Fields of expertise include a combination of:
- Corporate Finance;
- Asset Pricing;
- Banking; Financial markets and institutions;
- Financial economics; and
- Mathematical and quantitative methods;
- Proven leadership capabilities, including: the ability to negotiate and influence people and events, resolve disputes, and negotiate effective solutions; the ability to engage and motivate staff and teams; and demonstrated business maturity and excellent people management skills;
- Ability to draw upon a broad range of expertise across the corporation and other communities and synthesize these views into a concise, coherent assessment of emerging issues important to CDIC; and
- Demonstrated ability to make presentations on diverse topics to financial sector experts.
Conditions of Employment/Security Clearance
Level II, Secret
- One permanent position is currently available.
- Due to Canadian immigration regulations, we can only consider applications from Canadian citizens or other individuals legally entitled to work in Canada and obtain necessary security clearances. Please indicate in your cover letter the reason for which you are entitled to work in Canada: Canadian citizenship, permanent resident status or work permit.
- CDIC is a federal agency (separate employer) and does not fall under the Public Service Employment Act.
- CDIC is committed to Employment Equity and encourages the equitable participation of all Canadians. If your application is retained and you require any special accommodation during the selection process please advise us. Information received relating to accommodation measures will be addressed confidentially.
- If you are interested in joining a dynamic and growing team that contributes to the stability of Canada’s financial system and meet the required qualifications we invite you to forward your résumé and covering letter describing how you could contribute to our organization at firstname.lastname@example.org. Please quote competition #1272.
- We would like to thank all candidates who apply. However, only those selected for an interview will be contacted.