Requisition ID: 239731

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

Purpose 

Provides managing margin sufficiency analysis for all trading counterparties and overseeing market risk for financing businesses including Prime Services, Collateral Management and Funding, and Credit Total Return Swaps.  

The CMR team is responsible for identifying and assessing key market risks impacting counterparty exposures. Utilizing analytics and customized tools, CMR provides a risk management overlay that highlights tail and concentration risks, leveraging market risk measures at the counterparty level to challenge both the business and credit risk. The team effectively integrates inputs from credit and market risk teams to ensure comprehensive counterparty risk assessment.  

Accountabilities  

• Provide oversight of the portfolios from a margin sufficiency perspective and provide recommendations on margin adjustments where required. 
• Partner with TFRM market risk officers and leverage their product and asset expertise to support the necessary counterparty credit risk (CCR) oversight of the exposures  
• Supporting Risk Adjudication - Review of proposals (including customer transactions and the annual Business Review). Assessment of proposed structures, risk and reward measurements, determination of adequate margin levels, development and presentation of analyses and recommendations to the appropriate approval authorities. Attend Market Risk and Management Policy Committee (MRMPC) and Senior Credit Committee (SCC) to present and discuss proposals as required 
• Collaborating with Credit, TFRM, Market Risk Measurement, Technology, Back Office and Front Office teams, in ongoing enhancements of CCR risk measurement and monitoring, to ensure consistency in risk management approach and to achieve common objectives 
• Work closely with the Stress Testing team to develop a dynamic approach to stress testing to conclude the risks associated with market or geo-political developments as required 
• Work closely with the Credit Officers to ensure they have a detailed understanding of the risks associated with their clients’ portfolios and develop a global Margin/Haircut framework for SFT and OTC businesses 
• Maintain communication lines with GAFE (Global Analytics and Financial Engineering) on model capabilities and escalate model deficiencies. 
• Market Risk – Oversee market risk exposures for covered businesses and communicate to Senior Risk Management, Senior Trading Management and MRMPC on trading risks, trader sentiment and market conditions.  Ensure adherence with Bank’s risk appetite and the business mandate. Review daily risk and limit reports and engage in discussions with the business as appropriate.  Provide commentary to the Market Risk Management and Policy Committee (MRMPC) on limit overruns and corresponding remedial actions.  
• New Product & Limit Adjudication – Review new product proposals and make recommendations to MRMPC on limit requests, including proposing new limits according to the Bank’s risk appetite. 
• Partnership with the Business – Engage business stakeholders in a proactive manner to promote open communication between risk and trading.  Escalate trading and credit issues and work effectively with senior trading management 
• Communication – Communicate regularly with TFRM senior management on trading activity, trading risk profile, trader sentiment and market developments in covered businesses. Collaborate with global TFRM teams to ensure there is consistency in risk management approach.  Collaborate with other Bank and GRM stakeholders to achieve common objectives.  
• Regulatory & Audit – Assist in interactions with regulators and participate in risk assessments performed by exchanges and clearing members. Participate in external and internal audits and coordinate resolution of findings. 
• Valuation – Advise on appropriate valuation reserve adjustments in accordance with Bank’s policies.  Recommend changes in valuation methodology as needed.  Ensure independent price verification is performed in accordance with policies.  Approve pricing sources for model valuation inputs and maintain valuation documents and governance documents for covered products.   
• Technology – Participate in enhancement / upgrade of production and risk systems as needed. 
• Data - Escalate data deficiencies to key stakeholders. 
• Directly manage a team of risk professionals in Toronto. 
• 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 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 behaviors; communicating vision/values/business strategy; and managing succession and development planning for the team. 

Education/Work Experience/Designations 

• Undergraduate degree in quantitative discipline such as Finance, Mathematics, Statistics, or Engineering; a master’s degree is strongly preferred. Progress toward or completion of CFA or FRM designation is considered an asset. 
• Minimum of 7 years of experience in market risk, counterparty credit risk (CCR), or a closely related field. 
• Strong expertise in market risk with a particular focus on securities financing transactions (SFT). 
• Comprehensive understanding of financial markets, risk analytics, and derivatives valuation methodologies. 
• Exceptional communication skills, both written and verbal, with the ability to convey complex concepts clearly and effectively. 
• Demonstrated leadership capabilities, with a track record of managing teams or leading initiatives. 
• Thrives in fast-paced environments, with the ability to prioritize and adapt quickly to changing demands. 
• Advanced problem-solving and analytical skills, with a proactive approach to identifying and resolving issues. 

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.