Why FirstOntario?

• Competitive compensation packages
• Top-tier health and wellness benefits, including comprehensive benefits packages, a yearly health spending account and personal spending account
• Enhanced mental health benefits through SunLife and TELUS Health
• Flex-work environment
• Company-wide Employee Volunteer program (Blue Wave Program)
• Employee and Family Assistance Program

Job Overview

The Senior Analyst, Treasury Settlement is a new position, created to strengthen FirstOntario's cash, settlement and collateral capability as the volume and complexity of Treasury activity continues to grow. The role is accountable for the integrity of cash and collateral once a transaction is done, confirming and controlling settlement across the fixed income, money market, repo and derivative books, managing collateral and counterparty exposure, and deploying structural liquidity into the investment and HQLA portfolios.

The role is also the Treasury business owner of FirstOntario's new cash management system. The Senior Analyst, from go-live, owns the system's configuration, controls and continued development.

Role

Cash Management System - Implementation & Ownership

• Act as Treasury's business owner for the new cash management system, supporting implementation activities led by the Manager, Capital Markets, - requirements definition, process design, configuration decisions, data migration and validation, user acceptance testing, parallel running and cutover and ownership of system operations, governance, data integrity, process optimization, and user support following go-live
• Translate current cash, settlement and collateral processes into system workflows, using the implementation to remove manual reconciliation and spreadsheet dependency wherever the platform allows
• Design and document the control framework the system operates under: user roles and entitlements, approval limits, segregation of duties, audit trail and exception handling
• Own the system from go-live - configuration changes, static and counterparty data set-up, user access administration, release and upgrade testing, and issue escalation with the vendor
• Maintain the integrations between the cash management system, the general ledger, banking platforms and Treasury reporting, and own the reconciliation controls that prove them
• Train Treasury and Finance users, maintain procedure documentation, and act as first-line support for system questions

Settlement & Trade Control

• Confirm, affirm and control the settlement of capital markets and derivative transactions - fixed income, money market, repo, bond forwards and swaps - including trade capture accuracy and same-day matching to counterparty confirmations
• Identify, escalate and resolve trade failures, settlement exceptions and confirmation discrepancies; maintain the exception log and drive root-cause follow-up
• Reconcile investment and derivative positions to custodian, clearing agent and counterparty statements, and to the general ledger
• Provide settlement instructions, amounts and value dates for capital markets activity, and confirm receipt of funds
• Coordinate with custodians, clearing agents, brokers and counterparties to resolve discrepancies and preserve operational integrity

Collateral & Counterparty Risk

• Manage collateral and margin across the repo and derivative books - collateral selection and substitution, CSA margin calls, eligibility and haircut monitoring, and daily collateral position reporting
• Monitor counterparty exposure, settlement risk and credit limit utilization daily against Board and ALCO limits, including concentration by counterparty, rating band and instrument type
• Escalate limit breaches and near-breaches through the Manager, Capital Markets with documented remediation, and report exposure into ALCO
• Supply the operational and settlement requirements that support counterparty onboarding and ISDA, CSA and GMRA documentation

Cash & Liquidity

• Monitor HQLA composition, eligibility and levels against the Liquidity Risk Management Framework, and ensure accurate reporting and timely escalation of variances to internal LCR and NSFR operating targets.
• Deploy structural excess liquidity into the investment and HQLA portfolios, within ALCO-approved parameters and at the direction of the Manager, Capital Markets
• Manage the post-trade lifecycle of repo transactions, including collateral settlement, monitoring, reconciliation, reporting, exception resolution, and maturity processing
• Supply confirmed capital markets and derivative cash flows into the daily cash position, and advise on deployment of the resulting surplus

Forecasting & Analysis

• Maintain the consolidated enterprise cash flow forecast, integrating investment, repo and derivative flows with the operating and funding forecasts prepared elsewhere in Treasury, and own the structural view beyond one year
• Run liquidity stress testing, scenario analysis and behavioural modelling in support of the Contingency Funding Plan and the Liquidity Risk Management Framework, on methodology set by the Manager, Capital Markets
• Provide position, cash flow and market data analysis into fixed income portfolio construction, duration positioning and yield optimization, and manage the resulting trades through settlement
• Use the cash management system to improve forecast accuracy, automate data capture and shorten the reporting cycle

Risk, Controls & Compliance

• Own the control environment over capital markets trade capture, settlement and collateral - documented procedures, segregation of duties, and a complete audit trail behind every transaction
• Ensure adherence to the Investment, Liquidity, Funding and Derivatives policies and to approved risk limits, and raise instances where practice and policy have drifted apart
• Support internal audit, external audit and FSRA examinations with evidence, walkthroughs and remediation of findings

Reporting & Strategic Support

• Produce the settlement, collateral, counterparty exposure and structural liquidity content of ALCO and management reporting, and write memos that make complex positions legible to a non-specialist reader
• Maintain effective working relationships across Treasury, Finance, Lending and Business Banking
• Contribute to further Treasury system implementations, process automation and other special projects; perform other duties as assigned
• Consider health & safety as a primary concern to ensure the overall well-being of self and others

Required Skills

• Post-secondary degree in finance, accounting or economics, with a professional designation (CFA, CPA)
• Minimum 5 years' progressive experience in treasury, capital markets operations or cash management within financial services
• Direct experience implementing or administering a treasury or cash management system - requirements definition, configuration, testing and cutover
• Working knowledge of fixed income, money markets, repo and interest rate derivatives, and of the settlement and collateral mechanics behind each
• Familiarity with the Canadian credit union regulatory environment, including FSRA liquidity requirements
• Advanced MS Excel including VBA automation
• Proficiency with data query/analysis tools (SQL, Power BI, Power Query)
• Working understanding of system integration - file formats, APIs, bank connectivity and general ledger interfaces
• Ability to translate analytics into meaningful reports and present findings to executives
• Experience utilizing Bloomberg for market based data
• Detail-oriented with the ability to manage multiple priorities under tight deadlines - settlement is unforgiving of approximation
• Comfortable building rather than inheriting: this role defines its own processes, controls and system as it goes
• Superior written and verbal communication; willing to share knowledge and work across team boundaries
• Ability to manage multiple priorities with strict deadlines
• High integrity, trustworthiness, and composure in challenging or uncertain situations
• Awareness of enterprise risk and compliance with applicable regulations and FirstOntario policies
• Willing to work flexible hours and travel as required; commitment to health & safety

This is role is hybrid in Stoney Creek, ON.

This posting is for an existing vacancy.

Salary Range: $81,110 to $111,527 annually.

Compensation for this role reflects a combination of skills, experience, and internal equity. Those whose experience more closely aligns the role's requirements may be placed higher within the salary range. You will learn more about FirstOntario Credit Union's total rewards package during the interview process.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know.