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.
The cornerstone of the FCM Programs department is the Green Municipal Fund™ (GMF), a $1.7 billion permanent endowment from the Government of Canada. As a leading catalyst for innovation at the local level, GMF offers funding (loans and grants) and knowledge to local governments and their partners for sustainable municipal initiatives designed to support communities to improve air, water, soil quality and to protect the climate. Through GMF, municipalities have built better transportation assets; constructed efficient and resilient buildings; diverted waste from landfill; made previously unusable land available for development; and improved soil and water quality. GMF also strengthens the capacity of Canadian municipalities to plan and invest in innovative, sustainable infrastructure, thereby saving millions of dollars for taxpayers and creating jobs that contribute to local economies. GMF shares the lessons and expertise gained from these initiatives through skills-enhancement, training and knowledge-sharing activities including case studies, manuals and reports, webinars, the FCM Sustainable Communities Awards and the FCM Sustainable Communities Conference. These activities help other communities replicate the successes of GMF-funded initiatives, multiplying the benefits of those initiatives across the country.
Reporting to the Senior Manager, Risk Management unit (RMU) the Senior Analyst, Risk Management 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 and provides critical analysis of municipal and non-municipal deal submissions prior to passing them onto the Senior Manager, Risk Management Unit.
- Assists the Senior Manager, Risk Management Unit in reviewing the proposed credit ratings. This includes: validating cash flow model assumptions, stress testing models, security valuation and analyzing financial statements/business plans.
- Assists the Senior Manager, Risk Management Unit in developing loan pricing for Stream II and Stream III loans on a case-by-case basis. Keeps abreast of market trends for the private sector, including interest rates, fees, acceptable financial ratios (EBITDA/(P+I), LTV, etc.)
- Collaborates with the Senior Manager to design and structure financing models to support innovative financing strategies.
Portfolio Monitoring and Reporting
- 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 RMU Head for reclassification.
- 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.
- Analyzes, makes recommendations & makes decisions regarding actions to be taken upon any loan default, including workouts and restructurings. For situations that are more complex decisions are made at a more senior level.
Use of Risk Management Tools and Methodology
- Ensures industry best practices are reflected to the extent reasonable given GMF’s scope of operations (requires periodic discussions with relevant industry players.)
- Assists with and ensures implementation of the risk management framework for each of the following: credit risk, market risk and operational risk.
- Provides research and support materials to the RMU Head as required in disseminating best practice risk approach, appropriate to GMF’s portfolio, amongst GMF personnel.
Knowledge and Experience
- University degree in a business administration or finance related discipline.
- Minimum 5-7 years’ related experience with a financial institution, such as experience as a credit underwriter.
- Experience in risk management with an emphasis on municipal, project risk. Knowledge of corporate lending.
- Knowledge of municipal and/or climate finance is an asset.
- Extensive working knowledge of financial analysis, due diligence, credit risk mitigation, lending principles/practices, and loan documentation for various loan types, including project finance and asset-backed or real-estate lending.
- 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).
- Proficient in financial modeling tools.
- Proactive, problem solving and collaborative mindset.
- 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 required.
The benefits of joining the FCM team include summer hours (Fridays off between July 1st and Labour Day); office facilities located in the ByWard Market; FCM’s commitment to employee development and a competitive range of employee benefits and services. Due to the COVID-19 pandemic, FCM is currently under a temporary work from home protocol until further notice. The successful candidate must have the ability to work from home during this period.
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.