Financial Data Analyst

WHO WE ARE  

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we're passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.  
  

OUR VALUES, OUR PASSION

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.  

• Customer-Focused. Passionate Advocates 
• Courage to Act. Do the Right Thing 
• One Team. One Vision 
• Think Long-Term. Ever-Evolving 
• Be Exceptional. Inspire Greatness

POSITION SUMMARY
 

The role is a critical member of the Finance team and will assist developing, updating and maintaining platforms, models and procedures used in the financial results of HomeEquity Bank (the Bank). The tools include those relating to accounting, reporting, treasury, capital and underwriting. It will combine accounting knowledge and data analyst skills to support efficiency and accuracy with the preparation of monthly results providing detailed analysis thereof.

The role utilizes the Finance intranet site which incorporates the Bank's mortgage information and external market information. The intranet site, underlying database tables, and models are used by multiple departments across the Bank supplying detailed information on the mortgage portfolio and monthly mortgage activity.

MAJOR ELEMENTS OF THE ROLE
 

Database management

• Assist with the creation and maintenance of the database housing the details of the mortgage portfolio.

• Maintain the database to HEB's standards for controls including user access, data integrity and performance.

• Deploy data analyst skillset to manage efficiency in the functionally of reports, complex calculations and queries received from executives and others.

OSFI Mortgage Risk Weighting

• Maintain an understanding of the OSFI CAR Guideline for the Capital Risk Weight to be applied to the mortgage portfolio.

• Incorporate changes and updates to the Guidelines as required. Provide detailed analysis of the impact of the updates.

• Maintain documentation of the process and calculations.

• Maintain stress testing models for ICAAP including the development of geographic regions with differing stress testing assumptions. This aspect of the role requires liaising with members of the Treasury Department.

IFRS ECL Reserves

• Obtain a thorough understanding of the IFRS 9 requirements for the Bank's mortgage reserves.

• Support the maintenance of the IFRS ECL methodology:

  • Mortgage by mortgage assessment;

  • Review the integrity of underwriting assumptions used by the ECL methodology in the Bank's mortgage enterprise system (MARS);

  • Utilization of the Bank's Cash Flow model;

  • Assessment of future interest rates and property appreciation rates.

• Incorporate and maintain the forward-looking information into the calculations.

• Perform detailed analysis and run stress-testing scenarios to support monthly ECL results.

• Provide detailed analysis of the impact of changes as needed based on proposed amendments to the methodology.

• Maintain documentation of the process and calculations.

Real Estate Market

• Keep abreast of the Canadian real estate market activity, home sales, sale prices, etc.

• Capture and incorporate CREA monthly real estate market activity into the ECL methodology.

• Maintain and align funded data with real estate boards at the city/FSA level.

• Provide market analysis in the assessment of the mortgage portfolio LTVs and resulting reserves.

Cross Department Support

• Maintain reports and queries supporting other department requests.

• Support Client Relations, Operations, Risk, IT, Marketing when required – support issues on mortgage balances and activity, interest calculations, re-appraisal requirements.

Enterprise Support

• Respond to ad-hoc query requests from end-users and to user requests for data changes/corrections.

SKILLS AND EXPERIENCE REQUIRED
 

Qualifications

• University Degree and 5 years+ experience in a Canadian financial institution working in an analytical capacity.

• Bachelor's degree in data analysis or statistics or similar formal studies that developed an educational foundation in accounting, finance, economics or mathematics.

• Familiar with the syntax and application of languages such as C#, Transact SQL and VB.NET.

• Preference given to a knowledge of ASP.NET tools. Knowledge of Telerik controls preferred.

• Knowledge of source code tracking tools and development tools such as Visual Studio and Team Foundation Server is an asset.

• A working knowledge of Python and select modules used in the reading and uploading of large data files.

• Experienced in writing complex SQL queries to retrieve information from relational databases.

• Experienced in presenting information to end users using a variety of tools such MS Excel and browsers.

• Familiar with financial concepts such as, but not limited to, mortgages, simple interest, compound interest, property appraisals, weighting, payments of principal and interest,,  and related concepts.

Working conditions unique to job

• Hybrid work environment

WHY WORK AT HOMEEQUITY BANK?

Great Environment

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
 

A Dynamic Culture – With People at the Centre  

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto's Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures , the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023. 
 

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say 'great job' to their colleagues and leaders.

From our Appreciate Program to the High Five Award Program and President's Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks (for eligible employees)

• HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits

• Employee & Family Assistance Program

• Employer-Matched Group Retirement Savings Plan

• Employee Share Investment Plan

• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits

• Employee corporate discount for GoodLife Fitness 
   

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we're up to online, and learn more about what makes HomeEquity Bank a great place to work:

LinkedIn
Youtube
Facebook
Twitter
Instagram
 

Join Us If you're ready to build the future of reverse mortgages, we want to hear from you.