Head of ALM (Asset Liability Management)

At Bank esh, we’re not just imagining the future of banking- we’re building it with a bold vision to redefine the banking industry for the 21st century. Our mission is to create a banking experience that leverages cutting-edge technology, operational excellence, and fosters deep trust between banks and customers. We’re on the brink of something extraordinary. Our first digital bank in Israel, Bank esh, has already secured its license as a bank in formation in December 2022, and we're gearing up to make waves in the industry. Join us on this exciting journey as we create a bank from the ground up, one that’s set to revolutionize the way people think about banking. Be part of a team that’s not just building a bank, but crafting the future of financial services.

We are seeking a seasoned financial professional to serve as the Head of ALM at our bank. In this key leadership role, you will be responsible for operating and expanding the Assets Liability Management (ALM) department. This includes developing and implementing sophisticated models for calculating interest rate risk, overseeing the management of Funds Transfer Pricing, and driving profitability and capital planning initiatives. Additionally, you will lead the efforts to manage and hedge the bank’s exposure to various financial risks, ensuring financial stability and sustainable growth. If you are a dedicated leader with a proven track record in ALM and financial risk management, we invite you to join our esteemed team.

Job Responsibilities:

• Managing the risks derived from the structure of assets and liabilities in the bank
• Capital planning with a forward-looking vision in the context of funding sources
• Maintaining and expanding the Funds Transfer Pricing model according to the bank’s needsDevelopment of models for estimating interest rate risks, with an emphasis on the regulatory provisions
• Development of a method for calculating transaction and customer profitability
• Forming business recommendations for product pricing
• Management of interest rate risk in the bank
• Management of linkage sectors positions in the bank
• Performing sensitivity tests and stress scenarios in accordance with market changes and regulatory requirements
• Performing analyzes and indicators for monitoring the financial risk
• Automate the system of indicators and limits regarding exposures to ALM risks
• Responsibility in front of the technology supplier for the mechanization of ALM needs
• Preparation of documents for management and board committees
• Periodic presentations (weekly, monthly, quarterly) regarding the changes in the market, the bank's balance regarding issues under the responsibility of the ALM.
• Alert the CFO for any deviations from the limits
• Monitoring and implementation of regulatory changes in the ALM field
• Periodic reports to the Bank of Israel

Job Requirements:

• Bachelor’s degree in business administration / economics / accounting
• At least 5 years of experience in the worlds of banking, including ALM field
• Understanding and experience working with the Bank of Israel
• Good understanding and experience in performing controlled processes under regulatory requirements and procedures
• Languages: Hebrew and English at an excellent level.

Skills and Knowledge:

• Knowledge of financial activity in the field of ALM.
• Knowledge and work with large databases
• Ability to develop statistical models and in-depth statistical understanding.
• Full control of Excel and VBA
• Ability to work as part of a team
• Technological affinity
• Familiarity with Accounting