Job Description
Our Client:Our client is one of the top five largest Canadian Credit Unions committed to delivering good, caring, and transparent financial services as a supportive partner and advisor.What You Will Achieve in This Role:Reporting to the Director of Enterprise Risk, the Manager of Commercial Credit and Enterprise Risk oversees the credit risk program for our client’s commercial arm and its subsidiary. The role involves developing, recommending changes, and maintaining policies for Commercial Credit at both the Board and management levels.Enterprise Risk Management:Assists in executing the Enterprise Risk Management program acting as the second line of defense.Policy Development and Maintenance:Create, develop, and maintain ERM policies, procedures, and practices related to commercial credit risk.Ensure compliance with regulatory requirements through ongoing industry research and interpretation.Monitor market conditions to identify emerging issues and potential impacts or opportunities for the commercial credit portfolio.Credit Assessment Process:Develop guidelines for evaluating disbursed loans and mortgages to achieve commercial lending quality objectives.Enhance and ensure effective execution of the commercial credit assessment process within the Risk Appetite Framework.Risk Monitoring and Reporting:Assess and monitor risks and exposures against the Risk Appetite Framework and policies.Monitor commercial credit portfolio risk indicators, trends, and adherence to policy limits; generate reports for Senior Management and Board Committees.Policy Evaluation and Review:Evaluate policies to adhere to applicable regulatory requirements.Review and recommend changes to commercial credit authorities to the Credit Risk Management Committee (CRMC).Model Evaluation and Internal Controls:Evaluate the appropriateness and effectiveness of internal commercial credit risk rating models.Assess the adequacy of the internal control environment and collaborate with business units for improvements.Stakeholder Collaboration:Collaborate with various departments (Credit Operations, Business Management Office, Collections, etc.) to manage risk and credit quality.Act in an advisory capacity on commercial credit risk issues and participate in approved projects impacting commercial credit risk.Reporting and Stress Testing:Oversee the production of quarterly commercial credit risk reports and periodic commercial watch lists for CRMC.Maintain the stress testing policy and execute the periodic stress testing program.Specialized Tasks:Responsible for commercial credit due diligence related to partnership opportunities (mergers, acquisitions).Support the Director of ERM in other tasks as required.Expectations/Outcomes:Adequate monitoring of the commercial credit portfolio within regulatory limits, policy limits, and risk appetite levels.Achievement of targets on delinquency and provision for loss.Balance between risk and reward, ensuring the protection of members' assets.Continuous improvement and enhancement of the Enterprise Risk Management program.Timely and informed communication to the Executive Leadership Team, Board of Directors, and regulators on Commercial credit risk.What You Must Bring to This Role:A minimum of 3 years of commercial credit experience with a proven track record conducting post-funding reviews, ensuring compliance with policies, and compiling results for reporting purposes.Must have experience in commercial credit portfolio monitoring, risk indicators, trends, and migration.Must have an understanding of commercial underwriting and how policies are applied, with proven experience in managing and updating credit policies with the ability to recommend changes and enhancements to existing policies, ensuring alignment with internal controls.Must have experience conducting risk assessments, inherent risks, and quantifying risks, with a general understanding of what a control program is.Ability to create, develop, and maintain ERM policies, procedures, and practices related to commercial credit risk.Proficiency in assessing and monitoring risks against the Risk Appetite Framework and policies, with the ability to evaluate the internal control environment and collaborate with business units for continuous improvement.Must have knowledge of OSFI regulations and mandates, with a demonstrated ability to apply regulatory requirements to risk management practices.Exposure to operational risk concepts and resilience in a regulatory environment is an asset.