Are you passionate about reaching new heights, teamwork and making a meaningful contribution? Do you picture yourself as a valued member of an industry-leading organization? If you answered yes to these questions, Air Canada is seeking enthusiastic individuals to join the diverse and vibrant team working together to lead the growth and expansion of Canada’s flag carrier.
Air Canada sponsors 8 defined benefit pension plans. The plans' assets are managed by a wholly owned subsidiary of Air Canada and are held in a diversified portfolio of traditional asset classes (bonds and stocks), alternative investments (derivatives, infrastructure, private equity and real estate) and portable alpha strategies (hedge funds and tactical asset allocation) worth over $19B. The assets are invested by internal and external managers. The Investment’s team of 49 professionals is located in downtown Montreal.
Reporting to the Manager – Middle Office, the Analyst – Middle Office principal responsibilities will be the various processes and controls associated with modeling, valuation, collateral management as well as reconciliation of complexes derivative products. The position holder must ensure data quality and integrity in the different systems to provide accurate information to the teams responsible for Investments, portfolio monitoring and performance. The main challenges related to the position are:
- Master all complex derivatives traded by the investment team, their monetary flows, modeling and their valuation in the different systems;
- Master a significant number of applications, market data sources and tools to ensure the quality of valuation data and proactively detect and solve any related issues;
- Develop the ability to prioritize tasks with rigor and autonomy while also demonstrating a flawless work ethic;
- Ensure continuous improvements to meet market best practices while supporting the day to day valuation activity.
The work environment in which the position holder evolves in is dynamic. Efficiency and autonomy are of utmost importance. The analyst will have the opportunity to develop a deep understanding of the processes surrounding a wide range of the most complex financial products. The analyst will benefit from working closely to a skilled management team. The principal responsibilities are:
- Perform daily the Collateral Management activity associated with various legal agreements (ISDA, GMRA) and clearing broker;
- Confirmed all derivative transactions on the various platform (DTCC, MarkitWire, ICE Link) and/or with the counterparties;
- Reflect derivative transactions in the accounting system (Eagle Star) and analyse financial modeling discrepancies between systems (BBG AIM, Eagle Star);
- Perform reconciliations against the clearing brokers
- Revise complex derivative longform confirmations to validate economic terms as well as financial and cashflow modeling;
- Reconcile and analyse market value discrepancies of OTC derivatives products against counterparties and services providers;
- Maintain OTC derivatives database updated;
- Periodically produce and analyse Financial Statement reports (exposure per products, exposure per counterparties) to support the productions of Financial Statement notes;
- Document new derivatives investments activities and/or new processes during their implementation as well as maintaining documentation already in place;
- Collaborate in various initiatives or working group.
- Master’s degree in a relevant discipline (mathematic, financial engineering, finance, actuarial studies, etc.) or equivalent
- CFA, FRM or PRM an asset
- A minimum of 2 years of pertinent experiences
- Experience in the financial field
- Excellent knowledge of MS Office (Excel, Access)
- Strong abilities with financial concepts and programming languages
- Capacity to read and understand advance mathematical concepts
- Master data collection environments
- Bilingual (spoken/written) French and English
- Strong knowledge of complex derivative products and Repo market
- Knowledge of investment accounting systems and portfolio management systems
- Autonomy, analytical and critical thinking
- Rigor, meticulous, vigilance and accountability
- Pro-active and strong sense of initiative
- Strong learning capabilities, versatility and adaptability
- Well-organized, efficient, and ability to perform various tasks at once
- Ability to communicate and interact in a team
Bilingual (English and French)
Diversity and Inclusion
Air Canada is strongly committed to Diversity and Inclusion and aims to create a healthy, accessible and rewarding work environment which highlights employees’ unique contributions to our company’s success.
As an equal opportunity employer, we welcome applications from all to help us build a diverse workforce which reflects the diversity of our customers, and communities, in which we live and serve.
Air Canada thanks all candidates for their interest; however only those selected to continue in the process will be contacted.