THE ORGANIZATION

Established in 1974 as the Credit Union Stabilization Corporation, the goal was simply to insure 100% of Alberta’s credit union deposits. In 1976, the Corporation’s scope of services was expanded to include credit adjudication. These challenges sparked a restructuring of the credit union system, leading to the Government of Alberta providing financial backstops to the Credit Union Stabilization Corporation and appointing an independent Board of Directors.

Known today as the Credit Union Deposit Guarantee Corporation (CUDGC) of Alberta, the organization continues to be the pillar of financial security for Albertans. CUDGC employs approximately 34 people and provides a regulatory role, and an array of oversight, review and advisory services focused on ensuring and supporting sound business practices and systems for credit unions. The primary stakeholders of CUDGC include, 1st Choice Savings and Credit Union, ABCU Credit Union, Bow Valley Credit Union, Calgary Police Credit Union, Christian Credit Union, Khalsa Credit Union (Alberta), Lakeland Credit Union, Rocky Credit Union, Servus Credit Union, TransCanada Credit Union, Vermilion Credit Union, and Vision Credit Union.

Mandate

Our mandate is to provide risk-based regulatory oversight and a deposit guarantee to enable Alberta’s safe and sound credit union system.

Vision

Our vision is an Alberta credit union system that is safe, sound, and competitive within the evolving global financial services environment.

Purpose

Our purpose is to enable safety and soundness through providing financial institution regulation to jurisdictions within which we operate by being an employer of choice, taking an agile and collaborative approach, and leveraging technology.

Core Values

CUDGC is driven by six core values that define who we are and what we stand for:

• We act with integrity – we consistently and responsibly carry out our duties in a trustworthy, fair, and ethical manner.
• We are curious – we ask questions and continually look for opportunities to innovate while managing risks.
• We empower – we set clear expectations and empower others to do their best work.
• We are collaborative – we embrace collaboration by respecting, encouraging, and valuing diverse opinions and perspectives.
• We are accountable – we take responsibility for our actions and hold ourselves accountable for delivering business results.
• We care – we care for the psychological safety, health, and well-being of one another.

COMPANY CULTURE

We foster a culture that thrives on curiosity, collaboration, and empowerment. We believe in asking questions, innovating responsibly, and continuously seeking improvement. We respect diverse opinions and perspectives and believe they drive our success.

Our work is marked by integrity and accountability. We prioritize the welfare of our team members, ensuring a safe and conducive work environment that promotes personal growth and professional development. Each day presents an opportunity to contribute and reinforce our commitment to the community we serve.

EMPLOYEE AMENITIES

We are located in Edmonton’s ICE District, close to many downtown amenities. Our employees participate in a hybrid work program and are required to work in the office three set days per week. Employees have access to an on-site gym and golf simulator. This is a unique opportunity to work in a regulatory environment, building expertise and relationships within the financial services industry in Alberta and across Canada. Your talent, skills and perspective can help shape the future of Alberta’s financial services industry.

POSITION SUMMARY

We are located in Edmonton’s ICE District, close to many downtown amenities. Our employees participate in a hybrid work program and are required to work in the office three set days per week. Employees have access to an on-site gym and golf simulator. This is a unique opportunity to work in a regulatory environment, building expertise and relationships within the financial services industry in Alberta and across Canada. Your talent, skills and perspective can help shape the future of Alberta’s financial services industry.

THE IDEAL CANDIDATE

The ideal candidate aligns with our purpose and passion to protect Alberta credit union deposit holders. You embrace, explore and apply innovation to your expertise and approach to financial planning and analysis. You understand that CUDGC is a Public Agency and Government Business Enterprise that follows International Financial Reporting Standards (IFRS), and not Public Sector Accounting Standards (PSAS). You are highly analytical, skilled at developing and maintaining financial models, and able to distill complex data into clear insights and recommendations for executive decision-making. A self-starter who thrives in a collaborative and values-driven environment, you align with CUDGC’s vision and values. You are curious, accountable, and collaborative, demonstrating integrity in all that you do while empowering those around you. Adept at balancing detail with strategy, you are motivated by making a meaningful contribution to a purpose-driven organization.

KEY RESPONSIBILITIES

Reporting to the Director, Financial Reporting, the Manager, Financial Planning and Analysis is primarily responsible for supporting evidence-based financial decisions by modeling, analyzing, and interpreting financial data in a reasonable and timely manner. The Manager, Financial Planning and Analysis, leads the budget, forecast and variance analysis processes by monitoring, assessing, and reporting on trends that are critical to the Corporation’s financial performance. This is an individual contributor role with no direct reports, however there may be a summer student reporting into this role in the future.

Budget, Forecast and Estimates:

• Establish an efficient, effective, and well-documented process to compile revenue and expenditure estimates on a periodic basis for business planning, budget and forecasting.
• Collaborate with cost centre owners and other stakeholders to prepare the annual budget and present recommendations to leadership.
• Prepare a periodic/rolling forecast for cash flow and investment management purposes and prepare stakeholder reports.
• Lead the establishment and maintenance of a budget prioritization and amendment process.
• Contribute to the establishment of a capital management/allocation process to preserve the principal invested by credit unions into the deposit guarantee fund.
• Estimate financial assistance provisions required to stabilize credit unions and/or recover from an event that requires a draw down on the deposit guarantee fund.
• Contribute to the development of compliant funding programs to estimate revenue sources, including deposit insurance premiums, penalties, and other fees.
• Maintain and run the expected credit loss model for the investment portfolio.
• Participate in cross-departmental projects.

Financial Analysis and Interpretation:

• Conduct monthly variance analysis to assess and document reasonableness of actual expenditures by comparing financial classification and valuation to expectations (i.e. budget, forecast, prior year).
• Present material variances to leadership and recommend an appropriate plan of action.
• Establish forward-looking models and methodologies to proactively monitor and assess the adequacy of the deposit guarantee fund.
• Maintain key system reports to ensure compliance with financial reporting/disclosure standards and management operations.
• Utilize data and information warehouses to create key decision reports using emerging reporting tools (i.e. PowerBI).

Legislative/Regulatory/Industry Filings:

• Prepare a monthly reconciliation for deposits under management and process year-end T5s
• Prepare the annual corporate filings, including corporate registries and corporate tax return.
• Manage the account records for inactive credit unions throughout the dissolution process, ensuring timely filing of financial statements and tax returns.
• Complete surveys as required by Statistics Canada and industry participants.

People and Culture Activities:

• Engage in team meetings and activities by demonstrating Corporation values.
• Participate in performance management, training, and development activities.
• Participate in process improvement activities.
• Maintain procedure documentation.

Accounting and Financial Statement Preparation:

• Calculate quarterly deposit insurance assessment invoices for review and approval prior to posting and distribution.
• Maintain future income tax schedules.
• Maintain financial records in accordance with privacy and information management policies and programs.
• Assist in preparing / reviewing complex journal entries.
• Support the preparation of quarterly and annual financial statements.
• Assist with preparing working papers and documenting key financial processes/controls for the annual audit.
• Complete reconciliation and verification procedures.
• Provide back up to other team members, as required.

QUALIFICATIONS & EDUCATION REQUIREMENTS

• A related post-secondary education in business, accounting or finance.
• A designated Canadian CPA or CFA (or equivalent international qualification), with a strong knowledge of International Financial Reporting Standards (IFRS).
• Minimum 5-7 years of experience in finance and accounting, with a focus on financial planning and modeling.
• Experience working at a Government Business Enterprise or similar public sector body is a strong asset.
• Experience in developing and maintaining financial models and systems.
• Experience with MS Office Suite, SharePoint, Dynamics, PowerBI and other technologies.

COMPLIANCE

Final candidates for this position will undertake a Criminal Records Check and Credit Check.

INCLUSIVITY

CUDGC celebrates diversity and is committed to creating an inclusive environment for all employees. We are an equal opportunity employer committed to an inclusive and accessible recruitment and selection process.

COMPENSATION AND BENEFITS

• The compensation range for this position is $101,600.00 to $124,180.00 commensurate with qualifications and experience.
• Comprehensive benefits program and professional development opportunities.
• Commitment to work/life balance.
• Downtown Edmonton office (hybrid work).
• Company events.
• Dental care, disability insurance, extended health care, life insurance and health spending account.
• Employee assistance program.
• Paid time off.

CONFIDENTIALITY

In compliance and consistency with the Personal Information Protection and Electronic Documents Act (“PIPEDA”), HumanEdge shall respect the privacy and confidentiality of all personal information provided directly or indirectly verbally, electronically or in print throughout the process of candidate engagement in our search assignments.

Apply

Please submit a cover letter and resume in confidence to:

Misty Wilson, CPHR, SHRM-SCP
Senior Recruitment Consultant
Email: [email protected]
Website: www.humanedgeglobal.com

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