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Senior Manager

TD

This is a Contract position in Toronto, ON posted February 3, 2021.

Company Overview

Tell us your story. Don’t go unnoticed. Explain why you’re a winning candidate. Think ”TD” if you crave meaningful work and embrace change like we do. We are a trusted North American leader that cares about people and inspires them to grow and move forward.

Stay current and competitive. Carve out a career for yourself. Grow with us. Here’s our story: jobs.td.com

Department Overview

The Treasury and Balance Sheet Management (TBSM) department of TD Bank is responsible for overseeing the management of the Bank’s: non-trading market risk, consolidated liquidity risk and consolidated capital position.
For Market Risk, the scope of non-trading activity covers the measurement and management of interest rate, equity and foreign exchange risks for TD’s banking book portfolios. These banking book portfolios are primarily the Canadian and U.S. personal and commercial business segments.
The Asset Liability Management (ALM) team within TBSM focuses on the management of these market risks and is responsible for: designing and monitoring effective hedging strategies, developing ALM frameworks, and owning hedging related assumptions.
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Job Description

The Senior Manager, Hedge Accounting Strategy Implementation and Support, reports directly to the AVP, ALM. This role is responsible for monitoring and optimization of existing hedge accounting strategies and for supporting the timely and effective implementation of new hedge accounting strategies within TD Bank’s Treasury department.

TBSM’s financial results are defined by the differences in how its macro economic hedging is implemented through current accounting standards and by the contrasts in accounting revenue recognition compared to that of the related transfer pricing (TP) processes. These contrasts make it essential that all new and existing strategies are implemented with an integrated consideration of:

• TBSM’s hedging objectives for interest rate, foreign exchange and liquidity risk
• Current hedge accounting practices and policy
• TD Bank’s current transfer pricing methodologies

It is the responsibility of the candidate to work closely with all the key areas of TBSM and its partners to ensure all aspects of new and existing hedging programs are:

• Fully understood by all stakeholders
• Documented in a clear and consistent framework
• Developed with the appropriate reporting to capture all differences between hedging, accounting and transfer pricing
• Execute strategies in a timely and efficient manner

In keeping with these requirements the incumbent will need to foster strong relationships with senior members of various areas across TDBG. These relationships will be key to developing understanding, resolving issues and implementing change.
 
Accountabilities
• Responsibility for offering strategic hedge accounting solutions for the management on non-trading market risk
• Become a department expert on current and developing hedge accounting guidance
• Develop detailed documentation for all new and existing strategies
• Coordinate and manage the implementation of all new hedge accounting strategies
• Develop reporting to capture all differences between hedging, accounting and transfer pricing
• Perform detailed analysis on our hedging structures in order to test their performance
• Work closely with TBSM’s partners in order to accommodate business need through hedge accounting, promote understanding and ensure all stakeholders input is considered during the implementation process
• Ongoing consideration for ways to improve performance and minimize hedge ineffectiveness for existing hedge strategies
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Requirements

This position requires a highly results-focused individual who has:

  • 6-10 years of experience in areas of: Risk, Finance, Treasury and Capital Markets
  • Post-secondary degree in Finance, Risk or Economics
  • Valued designations: CFA, FRM, MBA, CPA (recommended but not required)

In-depth knowledge of:

  • Strong accounting background with relevant technical experience
  • Strong understanding of Financial Instruments & Hedge Accounting
  • Advanced knowledge and experience with Hedge Accounting rules
  • Experience in the financial services industry is preferred
  • Principles of interest rate risk management including asset and liability management (e.g. duration, convexity, key rate immunization)
  • Fixed income and interest rate derivative products, including valuation techniques
  • Key features and characteristics of retail banking products

Experience with:

  • Relating complex concepts and results in terms understandable by audiences with diverse backgrounds & seniority levels
  • Producing and analyzing management reporting and risk measurement results

Competencies and Personal Qualities:

  • You will require strong organizational skills, and be able to prioritize and handle many different contending requirements at a time.
  • Ability to teach skills and concepts to colleagues and staff
  • Quick to learn and apply new concepts
  • Strong work ethic, ability to take initiative and balance multiple tasks
  • Demonstrated strong analytical abilities
  • Excellent interpersonal skills; team player

Hours

37.5

Inclusiveness

At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live and serve. If you require an accommodation for the recruitment/interview process (including alternate formats of materials, or accessible meeting rooms or other accommodation), please let us know and we will work with you to meet your needs.