Treasury Operations Specialist

Why DUCA? 

We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.  

We exist to help People, Businesses and Communities Do More, Be More, and Achieve More™. 

DUCA (www.duca.com) is distinguished for the following: 

• Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers. 
• Competitive rates.
• Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
• Profit sharing among Members.
• Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7 
• A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked.  This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.

A career with DUCA means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives.  At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play. 

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Treasury Operations Specialist

DUCA is looking for a Treasury Operations Specialist to join our growing team! 

Job Purpose & Summary

The Treasury Operations Specialist is responsible for core operational elements of the Treasury function. Key aspects of the role relate to operational excellence across all Treasury teams (primarily securitization as well as cash management and funding) and includes analysis, reporting, policy and procedure support, as well as overseeing and/or completing the accurate and timely execution, settlement and posting of transactions, etc. 

Overall, the Treasury Operations Specialist is expected to operate with a high degree of collaboration, accuracy, and attention to detail with a drive to deliver outstanding service to external stakeholders as well as internal stakeholders.

 Key Accountabilities & Duties

Securitization

• Collaborate with Treasury leadership to provide input into the overall timing for key activities from an operational perspective regarding government insured (Canada Mortgage and Housing Corporation / CMHC) and non-government securitization programs
• Accurately analyze, prepare, and distribute Securitization documentation while adhering to strict reporting deadlines including but not limited to Pool Maker, Pool Manager as well as existing and new bulk insurance
• Supports ongoing operational and administrative elements of non-government securitization programs, including but not limited to, monthly reporting and settlement with Asset Backed Commercial Paper programs
• Proactively works with all key stakeholders, including but not limited to, Consultants, Issuers, Custodians, Swap Counterparties, and other related parties to ensure strict deadlines are adhered to
• Monitor changing market conditions and business risks and proactively identify required changes to DUCA processes
• Lead and initiate collaboration with third-parties regarding pricing and set-up of National Housing Act Mortgage Backed Securities (NHA MBS) as High Quality Liquid Assets (HQLA) pools
• Computation of revenue recognition of HQLA income and expenses while adhering to all submission reporting deadlines
• Accurately analyze and prepare ongoing accounting entries and reconciliations, including posting of General Ledger (GL) entries, of on and off-balance sheet securitization balances and related payments
• Lead in the analysis and recording of daily data relating to Securitization cash flows payments for all Issuers ensuring correct payments are received
• Analyze and prepare reporting of Securitization maturities as a Percentage of Regulatory Capital
• Develop, document, and maintain Securitization procedures
• Prioritize and adjust work activities according to the Treasury team’s overall activities
• Lead the coordination of documentation and communication workflows to support deal-flow for additional credit union securitization support, including but not limited to, Multi-Unit Residential Buildings (MURB) 2.0, while operating within strict deadlines

Cash Management

• Collaborate with Treasury leadership to provide input into the overall timing for key activities from an operational perspective
• Leads the accurate and timely execution and approval of wire transactions in conjunction with banking partners and relevant internal parties.
• Leads agreements and signing authorities for key counterparties including, but not limited to, credit facilities, investment accounts and bank accounts.
• Leads implementation of processes for posting and updating Branch foreign exchange currency rates as well as execution of foreign exchange currency spot transactions in an accurate and timely fashion.

Funding

• Track, analyze, and report competitor pricing and market trends in client-name Branch and Broker Term Deposit channels and recommend changes to the pricing to meet funding requirements
• Accurately prepare and distribute rate change sheets for client-name Branch and Broker Term Deposits
• Achieve agreed upon targets for Market Linked (ML) term deposits by collaborating with internal and external parties as well as recommending product enhancements
• Administer the ML GIC program including, but not limited to, executing deal-flow of ML term deposit business for other credit unions that DUCA administers, accounting entries, reconciliation, reporting, and collaboration with key stakeholders like DUCA Deposits Administration department and external hedging counterparty(ies)
• Create and post, or review and release, Treasury related outgoing wire transactions
• Review and process Treasury related incoming wire transactions along with associated service charges
• Prioritize and adjust work activities according to the Treasury team’s overall funding strategy

 Investment Shares and Other Share Initiatives

• Leads the reconciliation of investment share and other share offering initiatives
• Establishes models to monitor redemptions in each class to ensure redemptions do not breach regulatory maximums
• Ensures all committed shares are validated with appropriate supporting documents

 Other Duties

• Supports the timely posting and reconciliation of all relevant Treasury General Ledger accounts, reimbursement of Member funds as well as monthly, quarterly and year-end compliance, processing and reporting requirements
• Supports the team with ad-hoc data analysis
• Supports Treasury deliverables for Management Committees including, but not limited to, Management Risk Asset Liability Committee (MRACLO) and Consolidated Risk Review (CRR) Committee
• Supports ongoing and new internal and external audits, related to Treasury Operations
• Other duties, as assigned

 Occupational Experience & Education Requirements

• Post-secondary education, with a specialization in Finance preferred
• Bachelor’s degree in finance, economics, accounting, or related area of study
• 3-5 years’ experience in Finance and/or Securitization
• Experience building financial models
• Retail banking experience considered an asset
• Credit Union experience considered an asset

 Knowledge, Skills & Attributes

• Excellent Microsoft Office skills including proficiency with Excel and Word
• Excellent written and oral communication skills
• Experience using Bloomberg and a Banking System, specifically DNA, is considered an asset
• Proven problem-solving and investigative skills
• Able to take ownership of projects and manage multiple simultaneous priorities
• Ability to work quickly and accurately, with outstanding attention to detail and meticulous organizational skills
• Good judgement and decision-making capabilities
• Ability to prioritize, adapt to change, and work in a fast-paced environment
• A self-motivated team player that is results oriented

 Working Conditions

Normal office environment with standard work week of 38 hours with additional time required to meet deadlines and project deliverables.

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Department: Treasury 

Primary Location: Corporate Office 

Employment Status: Full-Time 

Hours per Week: 38

Salary: The annual salary range for this position is $64,023 to $80,029.  Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. This position may be eligible for discretionary bonuses.

Number of Existing Vacancies: 1

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DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.

Our hiring process includes AI screening for keywords and minimum qualifications. Talent Acquisition Partners review all results.

Qualified applicants are encouraged to submit their application. Applications must include a resume.

We thank all applicants but only those considered for an interview will be contacted.