Market Risk Analyst

Job Responsibility:

Posting Closes: April 1, 2025/ 4:00 pm/mst

Employment Status: Full-time; permanent

Hybrid: Servus Corporate Offices are located in Edmonton and Calgary, interested candidates will be required to work from an office on an occasional basis as defined by the department.

Servus Credit Union is Alberta's largest member-owned credit union, known for building strong, resilient communities by helping our members feel good about their money. One of Canada's Best Managed Companies for 20 consecutive years and ranked as one of the top banks in Canada on Forbes World's Best Banks list for two years in a row, we are a team of smart, gutsy, and driven individuals.

Reporting directly to the Leader of Market Risk, the Market Risk Analyst is responsible for contributing to the measurement and management of the credit union's interest rate risk in the banking book (IRRBB) and foreign exchange (forex) risk. This includes measurement of risks inherent to our residential mortgage rate commitments, loan prepayments, and comprehensive modelling of the credit union's interest rate risk positioning. The nature of this function requires:

• Strong theoretical and practical knowledge of capital markets and investments
• Strong technical proficiency needed to work quickly and accurately with large and/or complex data sets
• Behavioural attributes of accountability and a commitment to best execution

More specifically, the scope of your responsibilities will include, but are not limited to:

• Execution of a funds transfer pricing (FTP) mechanism approved by the credit union's ALCO (asset-liability committee)
• Contributing to the production of analytics of the interest risk attributes of products in our banking book, including embedded option costs, which will underpin FTP methodologies chosen for execution
• Contributing to risk assessments including repricing gap profiles, net interest margin forecasts reflecting an array of interest rate risk scenarios, and market valuations and fair valuations of positions
• Contributing to trade recommendations for hedging IRRBB and execution of approved hedging trades
• Measuring opening, closing, and intra-day forex risk exposure and making related hedging trade decisions within defined limits for this role; promptly requesting approval for necessary trades within the limits of more senior team members
• Contribute to prudent development and execution of retail banking product structures, such as equity-linked term deposits, forex forwards, forex options, etc.
• Provide ad hoc insights to the Leader of Market Risk and Head of Treasury to support ongoing prudent management of IRRBB
• Assist in managing the risk exposure in the mortgage pipeline by accurately measuring risk exposure on a timely basis and executing required hedging trades
• Liaise with internal stakeholders such as our accounting function to perform regular assessments of hedge effectiveness of existing hedging derivative positions
• Complete regulatory risk reporting within scope of the team's mandate as required by external regulatory authorities
• Contribute to the development and implementation of policies related to interest rate risk or market risk management; provide input on policy changes informed by industry conditions, best practices, and new regulatory guidance

Requirements

Experience and Education:

• Strong understanding of capital markets, investment theory, and the technical skills needed to quickly and accurately synthesize risk insights from large and complex data sets
• Intermediate or better proficiency in software such as Bloomberg, SQL, Excel, PowerQuery, etc.
• Bachelor's degree or higher in economics, finance, business administration, or a related field
• A master's degree is considered an asset but is not required
• One or more relevant professional designations (such as CFA, FRM, etc.) or equivalent experience is considered a significant asset
• Minimum 5+ years' experience in bank Treasury and/or Asset-Liability Management in a financial institution
• Demonstrated track record of strong execution, continuous learning, and critical thinking

Most importantly, we are looking for candidates with a passion for helping our members and businesses succeed. If you are a Market Risk Analyst looking for long-term career growth, then we encourage you to apply!

Benefits

Working for Servus has outstanding benefits. In addition to standard benefits like health and wellness, vacation and retirement savings programs, we also provide other important benefits such as:

• Training & Development Opportunities
• Career Advancement Potential
• Flexible work options
• Competitive Compensation including performance-based incentive pay
• Meaningful work towards individual and corporate goals
• Opportunities to get involved and give back through an employee volunteer program

For information about these benefits and more, click here.

At Servus, our employees are also members. This means you'll have all the benefits of being a member of the credit union including profit sharing, voting for the board of directors, and all of the services we provide … with a few additional perks!

What happens next?

Only those applicants selected for an interview will be contacted. Should you require any accommodations during the hiring process, please advise us at that time.

Discover a sense of belonging amongst a team of unique, authentic individuals working together to reimagine financial fitness. We value and celebrate the richness that diverse backgrounds and experiences bring to our community. Your skills, passion, and curiosity may find a sense of belonging at Servus, so even if you don't check every box we encourage you to apply!

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