Why FirstOntario?

Competitive compensation packages

Top-tier health and wellness benefits, including comprehensive benefits packages, a yearly health spending account and personal spending account

Enhanced mental health benefits through SunLife and TELUS Health

Flex-work environment

Company-wide Employee Volunteer program (Blue Wave Program)

Employee and Family Assistance Program

Job Overview
The Senior Analyst, Treasury Settlement is a new position, created to strengthen FirstOntario's cash, settlement and collateral capability as the volume and complexity of Treasury activity continues to grow. The role is accountable for the integrity of cash and collateral once a transaction is done, confirming and controlling settlement across the fixed income, money market, repo and derivative books, managing collateral and counterparty exposure, and deploying structural liquidity into the investment and HQLA portfolios.

The role is also the Treasury business owner of FirstOntario's new cash management system. The Senior Analyst, from go-live, owns the system's configuration, controls and continued development.

Role
Cash Management System - Implementation & Ownership

Act as Treasury's business owner for the new cash management system, supporting implementation activities led by the Manager, Capital Markets, - requirements definition, process design, configuration decisions, data migration and validation, user acceptance testing, parallel running and cutover and ownership of system operations, governance, data integrity, process optimization, and user support following go-live

Translate current cash, settlement and collateral processes into system workflows, using the implementation to remove manual reconciliation and spreadsheet dependency wherever the platform allows

Design and document the control framework the system operates under: user roles and entitlements, approval limits, segregation of duties, audit trail and exception handling

Own the system from go-live - configuration changes, static and counterparty data set-up, user access administration, release and upgrade testing, and issue escalation with the vendor

Maintain the integrations between the cash management system, the general ledger, banking platforms and Treasury reporting, and own the reconciliation controls that prove them

Train Treasury and Finance users, maintain procedure documentation, and act as first-line support for system questions

Settlement & Trade Control

Confirm, affirm and control the settlement of capital markets and derivative transactions - fixed income, money market, repo, bond forwards and swaps - including trade capture accuracy and same-day matching to counterparty confirmations

Identify, elevate and resolve trade failures, settlement exceptions and confirmation discrepancies; maintain the exception log and drive root‑cause follow‑up

Reconcile investment and derivative positions to custodian, clearing agent and counterparty statements, and to the general ledger

Provide settlement instructions, amounts and value dates for capital markets activity,



and confirm receipt of funds

Coordinate with custodians, clearing agents, brokers and counterparties to resolve discrepancies and preserve operational integrity

Collateral & Counterparty Risk

Manage collateral and margin across the repo and derivative books - collateral selection and substitution, CSA margin calls, eligibility and haircut monitoring, and daily collateral position reporting

Monitor counterparty exposure, settlement risk and credit limit utilization daily against Board and ALCO limits, including concentration by counterparty, rating band and instrument type

Escalate limit breaches and near‑breaches through the Manager, Capital Markets with documented remediation, and report exposure into ALCO

Supply the operational and settlement requirements that support counterparty onboarding and ISDA, CSA and GMRA documentation

Cash & Liquidity

Monitor HQLA composition, eligibility and levels against the Liquidity Risk Management Framework, and ensure accurate reporting and timely escalation of variances to internal LCR and NSFR operating targets.

Deploy structural excess liquidity into the investment and HQLA portfolios, within ALCO-approved parameters and at the direction of the Manager, Capital Markets

Manage the post‑trade lifecycle of repo transactions, including collateral settlement, monitoring, reconciliation, reporting, exception resolution, and maturity processing

Supply confirmed capital markets and derivative cash flows into the daily cash position, and advise on deployment of the resulting surplus

Forecasting & Analysis

Maintain the consolidated enterprise cash flow forecast, integrating investment, repo and derivative flows with the operating and funding forecasts prepared elsewhere in Treasury, and own the structural view beyond one year

Run liquidity stress testing, scenario analysis and behavioural modelling in support of the Contingency Funding Plan and the Liquidity Risk Management Framework, on methodology set by the Manager, Capital Markets

Provide position, cash flow and market data analysis into fixed income portfolio construction, duration positioning and yield optimization, and manage the resulting trades through settlement

Use the cash management system to improve forecast accuracy, automate data capture and shorten the reporting cycle

Risk, Controls & Compliance

Own the control environment over capital markets trade capture, settlement and collateral - documented procedures, segregation of duties, and a complete audit trail behind every transaction

Ensure adherence to the Investment, Liquidity, Funding and Derivatives policies and to approved risk limits, and raise instances where practice and policy have drifted apart





Support internal audit, external audit and FSRA examinations with evidence, walkthroughs and remediation of findings

Reporting & Strategic Support

Produce the settlement, collateral, counterparty exposure and structural liquidity content of ALCO and management reporting, and write memos that make complex positions legible to a non‑specialist reader

Maintain effective working relationships across Treasury, Finance, Lending and Business Banking

Contribute to further Treasury system implementations, process automation and other special projects; perform other duties as assigned

Consider health & safety as a primary concern to ensure the overall well‑being of self and others

Required Skills

Post‑secondary degree in finance, accounting or economics, with a professional designation (CFA, CPA)

Minimum 5 years' progressive experience in treasury, capital markets operations or cash management within financial services

Direct experience implementing or administering a treasury or cash management system - requirements definition, configuration, testing and cutover

Working knowledge of fixed income, money markets, repo and interest rate derivatives, and of the settlement and collateral mechanics behind each

Familiarity with the Canadian credit union regulatory environment, including FSRA liquidity requirements

Advanced MS Excel including VBA automation

Proficiency with data query/analysis tools (SQL, Power BI, Power Query)

Working understanding of system integration - file formats, APIs, bank connectivity and general ledger interfaces

Ability to translate analytics into meaningful reports and present findings to executives

Experience utilizing Bloomberg for market based data

Detail‑oriented with the ability to manage multiple priorities under tight deadlines – settlement is unforgiving of approximation

Comfortable building rather than inheriting: this role defines its own processes, controls and system as it goes

Superior written and verbal communication; willing to share knowledge and work across team boundaries

Ability to manage multiple priorities with strict deadlines

High integrity, trustworthiness, and composure in challenging or uncertain situations

Awareness of enterprise risk and compliance with applicable regulations and FirstOntario policies

Willing to work flexible hours and travel as required; commitment to health & safety

This is role is hybrid in Stoney Creek, ON.

This posting is for an existing vacancy.

Salary Range: $81,110 to $111,527 annually.

Compensation for this role reflects a combination of skills, experience, and internal equity. Those whose experience more closely aligns the role's requirements may be placed higher within the salary range. You will learn more about FirstOntario Credit Union's total rewards package during the interview process.

Our inclusive work workplace welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know.

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📌 Senior Analyst, Treasury Settlement (Ontario)
🏢 Firstontario Credit Union
📍 Ontario