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At Coast Capital, we’re not dreaming about a better future, we’re building one.

As a member-owned cooperative, we’re helping our members with their real goals and real challenges so they can live the real life they want. It’s what we’ve been doing for over 80 years, and it’s why today we stand almost 600,000 members strong. Plus, we invest 10% of our budgeted profits back into our community – almost $90 million since 2000 alone – because when our members do well, we believe our communities should do well too.   

VP, Quantitative Risk

Jun 28, 2024

Location(s): Greater Vancouver or Greater Toronto

myWork Options: In-person, Hybrid

Background Screening Requirement: 

  • Enhanced Criminal Record Check
  • Credit Check
  • Social Media Check
  • Identity Verification 
  • Education Verification
  • Employment Verification
  • References

What’s the job: 

 

Coast Capital’s Vice President, Quantitative Risk provides leadership, direction, and oversight for a range of quantitative-based risk management activities, including enterprise-wide stress testing, ICAAP, model risk management, model development, market, and credit risk measurement, and risk oversight of Treasury to ensure Coast Capital meets related regulatory requirements and maintains financial viability. You will be accountable for the development and implementation of policies, procedures and processes that will identify and manage threats to the achievement of organizational business objectives. You’ll provide business insights and ensure reporting for and presents to a variety of audiences, such as the Chief Risk Officer, the Credit Provisioning Committee, the Risk Review Committee of the Board and the Board of Directors. As a member of the Risk Management leadership team, you, along with a team of risk professionals and experts, will work closely with other risk management leaders in the general management of the function. 

 

What you’ll get to do: 

  • Demonstrate experience and effectiveness in both oral and written communication including in-person presentations to groups, focused and concise written and verbal summaries, effective questioning, and active listening. 

  • Utilizing the Enterprise Risk Management Framework and working with affected stakeholders, develop and document a formal Stress Testing Framework, a formal ICAAP Framework, and a formal Model Risk Management Framework. Continuously looking for efficiencies. 

  • Oversee the development and implementation of an effective Enterprise-Wide Stress Testing Program. 

  • Oversee the development and implementation of an effective Internal Capital Adequacy Assessment Process (ICAAP). 

  • Oversee the development and implementation of an effective Model Risk Management program. 

  • Provide expertise and advice to the Asset and Liability Committee on Liquidity, Capital, and Interest Rate Risk Management. 

  • Responsible for review and challenge of management and reporting of Liquidity, Capital, and Interest Rate Risks by the Treasury and Finance departments. Understands and can translate impacts to the organizational strategy. 

  • Keep abreast of emerging issues, trends, and evolving regulatory requirements and assess potential impacts to Coast Capital and lead the strategic development, implementation, delivery, and assessment of an emerging risk identification process. 

  • Demonstrate ability to engage and maintain effective working relationships with colleagues at all levels; build constructive and mutually beneficial relationships to ensure regulatory and risk issues are managed effectively and communicated through appropriate governance bodies and protocols positively and productively. 

  • Lead and develop an engaged Quantitative Risk team through effective communication, performance management, coaching and employee development. Lead by example demonstrating Coast values while effectively leading the team to execute on Coast strategy. 

  • Serve as Strategist and Consultant to Business Leaders regarding optimization of risk/return management through Quantitative modelling. 

  • Develop processes and a culture within the team that enables an environment where team members think critically, anticipating the needs of the business and providing value-adding models. 

  • Work with business stakeholders to further enhance the internal brand of the QRA function such that the team is invited into strategic projects and initiatives at early stages due to their value as an essential business partner enterprise wide. 

  • Provide leadership for the ICAAP and Stress Testing. Engage with key stakeholders to provide an environment for open and consistent dialogue related to capital and provision modelling. 

  • Drive and build risk monitoring and reporting processes/functions to proactively monitor, measure and report on key risk factors/issues and to provide decision support with respect to mitigating actions to Risk Management leadership team and/or other stakeholders. 

  • In accordance with the Model Risk Governance and with proper segregation of duties, oversee the management and development, validation, and monitoring of a variety of models, such as: Enterprise-Wide Stress Testing; ICAAP (including economic capital and capital limit sizing); IFRS-9 provisioning; Funds Transfer Pricing; Liquidity; Asset modelling and forecasting; Asset and Liability Management. 

  • Oversee the monitoring of investment limits. Escalate any breaches to the CRO for approval and/or resolution. 

  • Oversee the generation of independent, accurate and timely credit and market risk management information as required. 

  • Working with all affected stakeholders, provide data and insights to ensure that all existing or emerging factors impacting Coast’s market, liquidity, capital, and interest rate risks have been properly identified. 

  • Takes primary responsibility for managing and minimizing the inherent and potential risks in area of Business by working closely with the three lines of defense to develop and implement policies and procedures that provide assurance against risk. 

 

Who are we looking for? 

  • Extensive Experience:  

  • A minimum of 10+ years in a role related to risk oversight, analytics, and model development.  

  • Master’s degree in mathematics, Statistics, or a related discipline, combined with education in business.  

  • FRM (Financial Risk Manager) accreditation from the GARP (Global Association of Risk Professionals) required. 

  • Experience in market risk oversight, quantitative risk analytics, model development and validation, ICAAP oversight and enterprise-wide stress testing.  

  • Quantitative Expertise: Proficient in market risk oversight, quantitative risk analytics, model development and validation, ICAAP oversight, and enterprise-wide stress testing. 

  • Business Acumen: Ability to interpret and translate complex quantitative analyses into clear business insights. 

  • Leadership: Demonstrated experience in leading and mentoring a team of high performing professionals. 

  • Technical Skills: Advanced proficiency in software applications, particularly MS Office. 

  • Modeling Mastery: Expert knowledge of quantitative modeling and methods, with the ability to convert complex model outputs into actionable business strategies. 

  • Strategic Thinking: Conceptual thinker with exceptional problem-solving and decision-making skills. 

  • Adaptability: Proven ability to meet deadlines in dynamic environments and juggle multiple tasks effectively. 

  • Innovative Mindset: Challenges conventional thinking, encourages questioning of existing methods, and supports innovative initiatives. 

  • Problem-Solving: Recognizes and systematically addresses problems, involving others in the decision-making process and making timely, sometimes difficult, decisions. 

  • Visionary Perspective: Considers the long-term impact of actions, understands the interconnectivity of systems, and approaches problems from diverse viewpoints. 

  • Values-Driven: Upholds organizational values in daily actions and decisions, effectively communicates the company’s vision, and inspires enthusiasm in others. 

 

Equity, Diversity & Inclusion at Coast Capital

Don’t meet every single requirement? At Coast Capital, we believe everyone has potential. We are committed to building better, brighter, more inclusive futures for everyone – including our employees. We see the potential in our employees to achieve amazing things and want to invest in your future. If you’re excited about this career opportunity and your experience may not perfectly align with every qualification in this job posting, we still encourage you to apply. You may be just the right candidate for this or other opportunities at Coast Capital.

 

At Coast Capital, we are committed to equity, diversity and inclusion. We strongly encourage applications from Indigenous Peoples, Black, and racialized persons, persons with disabilities, people of diverse sexual and gender identities and women. We value applicants who have demonstrated a commitment to equity, diversity and inclusion and recognize that diverse perspectives, experiences and expertise benefit of our employees, our members, and our community.

 

We strive to provide an accessible candidate experience for our candidates with different abilities. If you require any accommodations, please contact accessibility@coastcapitalsavings.com or call 778-391-5836. We will work with you to meet your needs.  

 

Why join Coast Capital Savings?

  • Purpose is our North Star. We look at everything through our purpose. It informs the advice we provide our members, the experiences and products we create, and the programs we build to support our employees and communities.
  • Committed to inclusion and engagement. We have an ongoing focus on equity, diversity, and inclusion and routinely track how we’re doing, and what we need to do to keep improving. We foster a culture where everyone can feel safe to be who they really are and thrive.
  • A career that grows with you. We believe in developing our people and promoting from within. Many employees have spent decades, and sometimes their entire careers, with Coast Capital and have progressed from the frontlines to senior leadership.
  • Work where you’re most effective. In 2020 the world changed, and that includes how we work. In response to COVID-19 we launched myWork, which gives employees flexibility in where they work based on the nature of their role.
  • Benefits that flex to the needs of you and your family.  We offer comprehensive, customizable benefits for you and your family, so you can choose what fits best for you and your lifestyle.
  • Retirement options. We also take care of our employees once they retire. That’s why we offer the choice of a defined contribution or defined benefit pension plan or RSP’s.
  • Mortgage and auto financing benefits. Employees save thousands on their mortgages and auto loans with best-in-category benefits.
  • Real Recognition. We recognize excellence throughout the year, through an online community that lets employees give kudos and thanks throughout the year.  We’re human, which means we like to have fun with events, celebrations, and recognition throughout the year.
  • An award winning culture. We’re a Platinum member of Canada’s Best Managed Companies and are regularly recognized by Canada’s Most Admired Corporate Cultures and the BC Top Employers Awards.
  • We reinvest 10% back into the community. When we do well, our communities do well. That’s why since 2000 we’ve invested over $90 million into our member’s communities. 
  • Double your impact. Through our employee volunteer program, Coast Capital donates $10 for every hour you volunteer to a Canadian charity or non-profit of your choice.

D&I at Coast

At Coast Capital, we value diversity, equity and inclusion. We’re not all the same and we like it that way. We don’t just accept differences - we celebrate, support, and we thrive on them for the benefit of our employees, our members, and our community. We are committed to building a team that represents a variety of backgrounds, perspectives, and skills.
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