Financial Services Manager/Senior Financial Services Manager (Underwriter), Financial Institutions Team
EDC is Canada's export credit agency, offering information, knowledge and innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 9,000 Canadian companies and their global customers in up to 200 markets worldwide each year.
EDC is financially self-sustaining, and is a recognized leader in financial reporting and economic analysis.
Team & Job Overview
The Financial Institutions (FIT) team provides credit risk management solutions to Canadian financial institutions insuring them against foreign bank counterparty risk. The role is customer facing including daily interactions with trade finance departments of the banks. The ideal candidate is client oriented and will be accountable for independently assessing bank credit risk and structuring standard and non-standard transactions. We are looking for a dynamic and motivated professional who will actively participate in the attainment of the team's objectives.
- Provides insurance to Canadian banks against foreign bank credit risk as it relates to activities in the trade finance space;
- Assesses risk and structures standard and non-standard transactions;
- Establishes appropriate transaction pricing, terms and conditions;
- Provides on-going customer service throughout the transaction process. that meet the needs of Canadian financial institutions while balancing the Corporation's requirements;
- Conducts annual surveillance reviews on all rated banks;
- Monitors key market-specific risk events and recommends pricing and risk appetite adjustments as appropriate, on an on-going basis.
- Displays strong underwriting expertise in customizing, structuring, and in the formulation of appropriate policy coverage which is reflective of risk;
- Manages standard and non-standard transactions within a geographic portfolio of foreign bank counterparties in support of both Insurance and Financing business teams;
- Recommends and approves policy underwriting transactions within policies, guidelines and assigned delegation of authority;
- Recommends pricing exceptions and formulates pricing strategies;
- Contributes ideas to new product development, enhancements, and process improvements;
- Leads/participates in developing loss mitigation strategies for problem buyers;
- Assesses risk, structures and delivers of "out of the box" solutions including tailored pricing based on internal references, industry knowledge and relevant capital market benchmarks (i.e. bond spreads, credit default swaps, credit ratings);
- Screens complex and unique opportunities and determines eligibility for consideration of various products and designs solutions;
- Promotes innovation and actively leads initiatives to introduce new underwriting approaches and contributes ideas to new product development, enhancements, and process improvement initiatives.
- Completed an Undergraduate Degree in Business Administration, Finance, Accounting, or in a related field
- Minimum of 2 years (level 2), 5 years (level 3) or 7 years (level 4) of experience in insurance underwriting or in financial services
- Working/advanced knowledge of insurance underwriting principles and practices
- Bilingual in both official languages (French and English)
- MBA and CA, CFA, CMA or CGA designation
- Solid knowledge of international business practices and international trade
- Financial Institutions UW, level 2: $62,000– $92,000 + performance-based incentive
- Financial Institutions UW, level 3: $73,000– $109,000 + performance-based incentive
- Financial Institutions UW, level 4: $86,000– $128,000 + performance-based incentive
**Please note that we will consider candidates at the Financial Institutions UW 2 to Financial Institutions UW 4 depending on the incumbent's qualifications**
How to apply
Only candidates selected for an interview will be contacted.
Application deadline: June 15, 2018, 11:59 p.m. EST on www.edc.ca/careers
EDC is committed to employment equity and actively encourages applications from women, Aboriginal people, persons with disabilities and visible minorities. If selected for an interview, please advise us if you require special accommodation.
Candidates must meet the requisite government security screening requirements.