Central 1 cooperatively empowers credit unions and other financial institutions to deliver banking choice to Canadians. Central 1 provides critical services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.
What we offer:
Work-life flexibility
Hybrid work environment
Variable annual incentive plan
Generous annual vacation allotment
Top-notch flexible benefits plan including family building and gender affirmation
Retirement Plan, matched contributions at 6%
Access to a learning platform and educational assistance support
Access to a virtual wellness platform
Career development opportunities
Wellness Flex Fund to support personal interest and activities
Day off to volunteer in your community and other paid time off options
Corporate discounts
*subject to employment agreement
Job Summary:
As a Senior Quantitative Analyst on the Market Risk team, you will play a key second line of defense role, leading the measurement, analysis, and reporting of market risk across Central 1’s investment, lending, securitization, and trading portfolios. In this position, you will support robust risk oversight and enable informed, data-driven decision-making across the organization.
What you’ll be doing:
- Maintain the integrity, accuracy, and upkeep of static and market data (e.g., curves, securities, generators, limits, pricing, and yields). Ensure adherence to all controls, processes, and procedures, while identifying data quality gaps and improving automation and controls
- Prepare and enhance market risk content for daily reporting, risk dashboards, and regulatory reporting (including Pillar 1 Market Risk)
- Provide independent oversight of Central 1 portfolios to ensure compliance with Board-approved limits, Market Risk Policy, and regulatory requirements.
- Oversee financial instrument valuation and pricing models to ensure the integrity of mark-to-market valuations and fair value risk reporting
- Conduct deep-dive analyses of significant P&L movements, market shocks, and stress events
- Perform scenario analysis to assess vulnerabilities under adverse market conditions
- Develop and maintain market risk models to support and strengthen the risk monitoring framework and analytics, including VaR, ES, sensitivities, stress testing, scenario analysis, NIIS, and IRRBB
- Support the ongoing development and maintenance of market risk standards and procedures
- Identify, analyze, and document key and emerging risks by monitoring market movements, risk exposures, and P&L drivers
- Act as backup for preparing ALCO packages, C1 Trust reports, and Board reporting materials.
- Assist the Director with ad hoc market risk analysis and reporting.
- Undertake additional projects and responsibilities as assigned.
What you’ll have:
- Bachelor’s degree in Finance, Financial Engineering, Mathematics, Statistics, or a related field, or an equivalent combination of education and relevant quantitative experience
- 3+ years of experience in Market Risk, Model Development, Model Validation, Product Valuation, or similar quantitative roles
- Working knowledge of financial markets, banking operations, and valuation/pricing models for instruments such as fixed income, FX, NHA MBS, and derivatives
- Strong attention to detail, with proven quantitative, analytical, and problem-solving skills
- Solid understanding of interest rate risk, including experience with VaR, NIIS, DV01, and stress testing methodologies
- Hands-on programming experience in one or more languages, such as SQL (stored procedures), VBA, Python, or similar
- Advanced proficiency in Microsoft Office (especially Excel), along with experience using Tableau or other data visualization tools. Familiarity with Murex MX3 and/or Bloomberg Terminal is an asset
- Knowledge of market risk regulatory requirements and guidelines is an asset.
- Strong communication skills, with the ability to collaborate effectively with front office teams, business stakeholders, senior management, and committees
- Ability to clearly present complex concepts in both written and verbal formats.
- Intellectual curiosity and the ability to independently investigate unusual trends in business activity and risk exposure
- Adaptability and flexibility to respond to evolving business and departmental needs in a fast-paced environment
- Willingness to take on additional responsibilities and special projects as required
Salary range: $75,000-$90,000
The salary range represents the job rate determined for the successful candidate who is fully competent in the role. The actual salary will vary depending on market conditions and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training.
#LI-Hybrid
Central 1 does not use Artificial Intelligence (AI) technology to screen, assess, or select applicants during our recruitment process. This job posting is for an existing, specific vacancy within our organization. All applications will be considered exclusively for the position described in this posting.
Central 1 is an equal opportunity employer and committed to building an inclusive workforce by creating an environment where everyone feels like they belong and has the opportunity to be successful. We welcome all applicants to join our diverse workforce and we will provide an accessible candidate experience including, but not limited to accommodations to interview sites and alternate formats upon request to our Recruitment team.