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Credit Union Deposit Guarantee Corporation (AB)

Director, Financial Risk & Compliance

THE ORGANIZATION

Established in 1974 as the Credit Union Stabilization Corporation, the goal was simply to insure 100% of Alberta’s credit union deposits. In 1976, the Corporation’s scope of services was expanded to include credit adjudication. These challenges sparked a restructuring of the credit union system, leading to the Government of Alberta providing financial backstops to the Credit Union Stabilization Corporation and appointing an independent Board of Directors.

Known today as the Credit Union Deposit Guarantee Corporation (CUDGC) of Alberta, the organization continues to be the pillar of financial security for Albertans. CUDGC employs approximately 34 people and provides a regulatory role, and an array of oversight, review and advisory services focused on ensuring and supporting sound business practices and systems for credit unions. The primary stakeholders of CUDGC include, 1st Choice Savings and Credit Union, ABCU Credit Union, Bow Valley Credit Union, Calgary Police Credit Union, Christian Credit Union, Khalsa Credit Union (Alberta), Lakeland Credit Union, Rocky Credit Union, Servus Credit Union, TransCanada Credit Union, Vermilion Credit Union, and Vision Credit Union.

Mandate

Our mandate is to provide risk-based regulatory oversight and a deposit guarantee to enable Alberta’s safe and sound credit union system.

Vision

Our vision is an Alberta credit union system that is safe, sound, and competitive within the evolving global financial services environment.

Our purpose is to enable safety and soundness through providing financial institution regulation to jurisdictions within which we operate by being an employer of choice, taking an agile and collaborative approach, and leveraging technology.

Core Values

CUDGC is driven by six core values that define who we are and what we stand for:

  • We act with integrity – we consistently and responsibly carry out our duties in a trustworthy, fair, and ethical manner.
  • We are curious – we ask questions and continually look for opportunities to innovate while managing risks.
  • We empower – we set clear expectations and empower others to do their best work.
  • We are collaborative – we embrace collaboration by respecting, encouraging, and valuing diverse opinions and perspectives.
  • We are accountable – we take responsibility for our actions and hold ourselves accountable for delivering business results.
  • We care – we care for the psychological safety, health, and well-being of one another.


COMPANY CULTURE

We foster a culture that thrives on curiosity, collaboration, and empowerment. We believe in asking questions, innovating responsibly, and continuously seeking improvement. We respect diverse opinions and perspectives and believe they drive our success.

Our work is marked by integrity and accountability. We prioritize the welfare of our team members, ensuring a safe and conducive work environment that promotes personal growth and professional development. Each day presents an opportunity to contribute and reinforce our commitment to the community we serve.


EMPLOYEE AMENITIES

We offer a hybrid work schedule, work from home Mondays and Fridays. Employees also have access to an on-site gym and golf simulator at no cost.


THE IDEAL CANDIDATE

The ideal candidate brings a deep understanding of the Canadian financial sector, risk and compliance frameworks, and the unique Alberta economy, paired with expertise in scenario design and analysis, financial modeling, and business continuity and resilience planning. This is a professional specialist role and is best suited for a self-starter who can find solutions through ambiguity.


POSITION SUMMARY

Reporting to the Vice President of Financial and Administration, the Director Financial Risk and Compliance leads the development and implementation of the corporation’s operational resilience programs with a focus on managing the long-term sustainability of the deposit guarantee fund. This individual supports corporate governance, enterprise risk, legislative compliance and outsourced internal audit programs by understanding stakeholder and legislative requirements. As an individual contributor with no direct reports, this role demonstrates leadership through active collaboration with key partners to pursue common goals and achieve consensus. There may be an opportunity for a summer student to report into this role to support with project administration.


KEY RESPONSIBILITIES

Your practical approach, technical, communication and collaboration skills, along with a commitment to performance accountability and teamwork, will enable you to manage relationships to effectively support management of the deposit guarantee fund by:


Managing Financial Risk

  • Establish a capital management/allocation process to preserve the principal invested by credit unions into the Deposit Guarantee Fund (DGF).
  • Maintain the Corporation’s investment and insurance policies and design programs/processes to sufficiently mitigate financial risks for long-term sustainability of the DGF.
  • Manage an ongoing scenario analysis and stress testing program to ensure DGF adequacy and prepare funding/financial assistance forecasts and budgets.
  • Manage off-balance sheet assets belonging to inactive credit union members and inactive credit unions by validating claims and leading the dissolution/liquidation processes.   
  • Collaborate with third-party and internal teams to optimize financial risk management processes.
  • Review and analyze monthly financial reports to assess performance and compliance.
  • Prepare quarterly management discussion and analysis related to the investment portfolio and investment manager performance for Executive and Board review.


Managing Enterprise Risk & Compliance Programs

  • Manage corporate governance and compliance policies and programs, including the establishment of periodic awareness/compliance attestation and testing.
  • Design and implement enterprise risk management policy and program enhancements tailored to the CUDGC business and operating model.
  • Support the development and execution of the annual internal audit plan by working closely with outsourced internal audit service providers.


Providing Subject Matter Expertise in Operational Resilience

  • Research best practices, engage with thought leaders and conduct functional maturity assessments to contribute to the development of corporate operational resilience policies, plans and programs.
  • Develop position papers to address emerging legislation, regulations, standards, and financial risks.
  • Provide subject matter expertise to support the annual business planning process.
  • Actively pursue professional development opportunities and participate in communities of practice with other financial services regulatory bodies.
  • Contribute to a strong organizational culture through performance accountability and collaboration.


QUALIFICATIONS

  • A related post-secondary education in business, finance, accounting, operations, or law.
  • Minimum 10 years of experience in finance/treasury operations, financial/investment risk mitigation, financial and operational restructuring, or a related field, with strong research and analytical skills for scenario analysis, financial modeling, playbook design/implementation and contract management.
  • Additional designations such as CFA, CIRP would be considered strong assets.
  • Experience in managing relationships with investment managers and third-party service providers, proficiency in preparing policies, process maps, analysis and reports, developing and/or validating financial models, and knowledge of corporate governance, compliance and risk management.
  • A strong understanding of the Canadian financial sector, including regulatory authorities, financial markets, financial institutions, policy and legislation and a general understanding of national and international trends in the economy and in the financial services industry.
  • A strong understanding of the unique Alberta economy, and a desire to serve Albertans.
  • Experience with MS Office Suite, SharePoint, GRC systems, data visualization tools and other technologies.


COMPLIANCE 

Final candidates for this position will undertake a Criminal Records Check and Credit Check.


INCLUSIVITY

CUDGC celebrates diversity and is committed to creating an inclusive environment for all employees. We are an equal opportunity employer committed to an inclusive and accessible recruitment and selection process.


COMPENSATION AND BENEFITS

  • The compensation range for this position is (approx.) $130,500.00 to $159,500.00 per annum, commensurate with qualifications and experience.
  • Comprehensive benefits program and professional development opportunities.
  • Commitment to work/life balance.
  • Downtown Edmonton office (hybrid work).
  • Company events.
  • Dental care, disability insurance, extended health care, life insurance and health spending account.
  • Employee assistance program.
  • Paid time off.


CONFIDENTIALITY

In compliance and consistency with the Personal Information Protection and Electronic Documents Act (“PIPEDA”), HumanEdge shall respect the privacy and confidentiality of all personal information provided directly or indirectly verbally, electronically or in print throughout the process of candidate engagement in our search assignments.

Apply

Please submit a cover letter and resume in confidence to:

Misty Wilson, CPHR, SHRM-SCP
Senior Recruitment Consultant
Email: misty@humanedgeglobal.com
Website: www.humanedgeglobal.com