Senior Director, Asset and Liability Management (ALM)

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 670,000 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 six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform ( eqbank.ca ) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.

The Work

As Senior Director, Asset and Liability Management (ALM) , you will play a critical role in shaping EQ Bank’s balance sheet strategy, ensuring a well-managed interest rate risk profile, and driving optimized treasury investment practices. This role positions you as a key architect in the development and execution of ALM strategies that safeguard the bank's financial health while enabling sustainable growth. Leveraging advanced modeling tools and your expertise in financial risk management, you will ensure the bank remains resilient in an evolving regulatory and market environment.

By integrating strategic oversight of interest rate risk, treasury investments, and ALM model development, this role is pivotal to maintaining EQ Bank’s position as a leader in the Canadian financial landscape.

The Core Responsibilities!

• Design and oversee execution of interest rate risk management strategies, analyzing exposures and implementing mitigation measures, including the use of hedging instruments
• Develop and optimize the bank’s treasury investment strategies, ensuring alignment with risk appetite and maximizing returns within regulatory guidelines
• Lead the development, implementation, and management of sophisticated ALM models to assess market risk on the balance sheet
• Perform scenario analysis and stress testing to evaluate the impact of interest rate movements and market conditions on the bank’s financial position, including support for the bank’s stress testing programs (EWST, MST) and capital evaluation process (ICAAP)
• Ensure adherence to regulatory requirements, such as OSFI’s Market Risk Management Guideline
• Collaborate with Treasury, Risk, Finance, and other internal teams to align ALM strategies with organizational objectives and market opportunities
• Maintain robust documentation of ALM policies, procedures, and processes. Support Treasury Risk and Capital Oversight team to ensure effectiveness of the 2nd line oversight function
• Manage the Bank’s interest rate and foreign exchange exposures by managing suitable hedging strategies with consideration for the Bank’s target exposure and any hedge accounting implications.
• Recommend actions on the Bank’s liquidity portfolio. Report on portfolio performance and investment strategy to Senior Management
• Provide actionable insights and recommendations to senior leadership on interest rate risk, investment portfolio performance, and balance sheet management
• Stay informed about market trends, regulatory changes, and emerging risks, adjusting strategies proactively to maintain resilience and compliance
• Liaise with OSFI and other industry representatives as appropriate to evaluate regulatory guidance, staying abreast of potential impacts to Equitable’s market risk management
• Oversee the preparation and delivery of detailed ALM reports, dashboards, and presentations to senior management and relevant committees
• Drive continuous improvement initiatives, integrating advanced tools and technologies to enhance the efficiency and accuracy of ALM operations

Let's Talk About You!

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 and personal days

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 experience

The 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.

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.

We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.

We can’t wait to get to know you!