The Federation of Canadian Municipalities (FCM) is the national voice of municipal governments, representing the interests of cities and communities with the federal government. FCM’s Strategic Plan calls upon FCM to work collaboratively to: a) expand national understanding and support of the role local governments play in meeting national objectives; b) shape the national agenda by influencing decision-makers and opinion-leaders to ensure that the interests of municipalities are met or exceeded; c) build capacity and knowledge, thereby encouraging initiative and innovation, which in turn helps local governments rise to the challenges they face; and d) share its knowledge and experience on the world’s stage, so that others may improve the quality of life in their communities.
Reporting to the Senior Manager, Risk Management unit (RMU) the Risk Management Analyst will contribute to ensuring appropriate risk management is exercised in order to help maintain the long-term sustainability and financial soundness of the Green Municipal Fund (GMF).
- Reviews applications, contracts, and deal leads for risk issues relating to transactions at all stages of the loan transaction process including pricing, initial risk assessments, structuring issues, and engages the Senior Analyst/Senior Manager, RMU as needed for more complex and/or strategic issues.
- Reviews and provides critical analysis of deal submissions prior to passing them onto the Senior Analyst, Risk Management Unit. For Stream I projects, evaluates and confirms if the proposed credit rating is acceptable.
- Provides support to the Senior Analyst for Stream II & Stream III projects in reviewing the proposed credit ratings. This includes; validating cash flow model assumptions, stress testing models, security valuation and analyzing financial statements/business plans.
- Compiles information for appendices that are required for deal submissions to the Risk Committee and Council including:
- Extent of filling of ASPO risk buckets for the current fiscal year;
- Extent that portfolio fills risk buckets overall;
- Pipeline per risk bucket if available;
- Mix of 10/20 year maturities for the year; and
- Others as determined by current procedures.
- Maintains and updates list of Municipal borrower’s internal and external ratings, as needed.
- Monitors and updates pricing information from Municipal Finance Authorities/Corporations. Closely monitors and documents comparable interest rates provided by Municipal Finance Authorities/Corporations. . Assists the Senior Analyst and/or Senior Manager, Risk Management Unit in developing loan pricing for Stream I, Stream II and Stream III loans on a case-by-case basis. .
- Supports the Senior Manager-Investments on an - as required basis
- Performs risk assessment for non-municipal grant applicants for GMF program.
Portfolio Monitoring and Reporting
- Monitors portfolio and transaction exposures against risk limits according to parameters set out in relevant RMU procedures/policies & using judgment depending on lending organization.
- Reviews all counterparties to GMF loan agreements with outstanding balances for changes in credit quality, at a frequency determined by its internal rating, as per RMU policies/procedures. If there is a change in credit risk rating, provides recommendation and support material to the Senior Analyst/RMU Head for reclassification.
- Prepares portfolio reports, approved by RMU Head, on frequency determined by relevant procedures/policies, including Annual Report, Quarterly Reports and Council Reports.
- Continually monitors and updates the loan portfolio for any changes in credit risk composition. Creates reports showing the changes in risk composition of the loan portfolio.
- Contributes to the development of appropriate risk targets and policies for individual transactions, and portfolio concentrations. Helps to monitor how much of each “bucket” of risk has been filled to provide timely management information.
- Responsible for post-commitment monitoring of loans once hand-off has occurred from Contracts, including monitoring for covenant compliance and other conditions in the loan documentation, and advises RMU Head and GMF Project Officers and Finance staff of any issues, anomalies or risks.
- Analyzes and recommends GMF’s response for any waiver, amendment or consent requests made by a Borrower.
Secretary of the Risk Committee (RC)
- Coordinates with RC chair and members to convene RC meetings as required; prepares RC Agenda in consultation with RC chair an RMU Head and circulates to RC members.
- Coordinates with Funding Services and others regarding information required to circulate to RC members (on deals or other matters).
- Prepares and circulates minutes recording discussions held and decisions taken in regard to loan deals and maintains minutes log.
Knowledge and Experience
- University degree in a business administration or finance related discipline.
- Experience in risk management with an emphasis on municipal, project risk. Knowledge of corporate lending an asset
- Capital markets knowledge is a definite asset.
- Private sector financial institutional experience is an asset.
- Requires strong analytical skills
- Ability to work effectively with all levels of internal and external stakeholders, excellent client service and communication skills.
- Advanced knowledge of Microsoft Office, specifically Excel and databases (CRM).
- Demonstrated ability to prioritize and meet regular deadlines.
- Highly organized and the ability to work unsupervised
- High level of accuracy and attention to detail is essential
- The ability to work in both official languages (English and French) is a strong asset.
We thank all candidates for their interest; however we will only contact those selected for an interview. All the applications will be kept on file for six months following the hiring.