Requisition ID: 233551

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Leads and oversees the Scotiabank Economics economic modelling and research in Canada ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures.

The role is responsible for developing analytical tools that contribute to the development of a forward-looking view enabling us to differentiate our product from that of our competitors in both the quality and accuracy of forecasts. The incumbent will also work to develop the empirical competencies of Economics Department staff.

This will be accomplished by developing and maintaining econometric models for the US and Canadian economies, interest rates, commodity prices, exchange rates, all with the objective of increasing the accuracy of our near- and longer-term forecasts and to provide analytical insights to clients and policymakers

As a subject matter expert with a high level of exposure, the incumbent is an ambassador of Scotiabank, helping build and enhance the Bank’s image.

Is this role right for you? In this role, you will:

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Responsible for developing a research and fact-based view and communicating key findings across different levels in the Bank. The incumbent will both proactively recommend research topics as well as respond to internal clients’ requests for research. This involves both drawing out key themes from research studies and disseminating the information into the overall context of the Bank’s strategy. This will be accomplished in a way that ensures that the Bank fully benefits from the Research team’s expertise and is able to integrate the Research findings into its strategic and tactical initiatives. In order to support this, the incumbent will focus on linking research results to financial metrics as well as root causes so as to be able to provide recommendations to the business lines, segment leaders, country and senior management.
• Integrate macroeconomic and competitive factors into the research in order to provide realistic and robust conclusions to the business and our clients. Research results must be made in the context of the larger macroeconomic and competitive environment.
• Continuous development and improvement of indicator models for the US and Canadian economies. As well, the incumbent will also work with other Economics Department staff to develop empirical tools to help analyse and forecast commodity prices, interest and exchange rates, and developments in our key foreign markets.
• Oversee the production of IFRS9 scenarios as part of the Bank’s financial reporting process.
• Management and coordination of the Research team’s resources to deliver specialized research in support of strategic teams and local markets as required.
• The incumbent must continuously stay abreast of global research advances and, where appropriate, incorporate these practices into the Divisional research activities and influence in-country research activities.
• Acts as a centre of research expertise for in-country Research groups. This includes sharing of best practices between groups and influencing research study focus, design and techniques.
• Foster a positive work environment within the team and with clients:
• Provide a high level of professional service to internal and external partners, clients, and colleagues – making sure enquiries are addressed in a timely manner
• Collaborate and work as part of the overall economics team to help meet business objectives
• Promote the advancement of the department by sharing information, knowledge, best practices, and methodologies
• Act as mentor/coach to junior staff, working closely with them to develop their empirical skills and judgment on statistical matters
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
• Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team.

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:

• Excellent analytical skills, both qualitative and quantitative, are required as the incumbent must be able to develop, interpret and consolidate large amounts of information into actionable recommendations.
• The incumbent manages a team that has multiple concurrent research projects and supports activities across many products and market segments. As a result, the incumbent must be confident, organized, and experienced in these tasks.
• Excellent verbal and written communication skills are required to as publishing and presenting research is a critical element of the position. 
• A graduate degree in economics is required with at least 10 years of modelling experience, preferably within a central bank.
• Expert knowledge of econometric techniques, modelling approaches, statistical analysis and economics is required.
• The incumbent is required to exercise a high degree of independent judgment on large, complex projects and initiatives
• Incumbent has to be sensitive to confidential information related to all Bank Strategy.
• Materials must be of the quality required for distribution to senior management of the Bank
• As this work is also presented published widely to senior management, it must be accurate, clear and maintained regularly. Requires all-Bank global perspective

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

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Location(s):  Canada : Ontario : Toronto 

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.  

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.