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Senior Manager Market Risk Management
London, England, United Kingdom
Situated on the Scotia Capital’s London, England trade floor, the Senior Manager ensures that market risks in Global Rates trading activities in London, are properly identified, monitored, controlled and reported in accordance with Bank policies.
Key Accountabilities
• MARKET RISK - Accountable for the identification and assessment of market risks in the covered businesses, and also ensuring consistency with the Bank’s risk appetite and the approved business mandate.
• LONDON MARKET RISK MANAGEMENT LIAISON Support the Director to act as the eyes and ears of Global Risk Management, on the London trade floor. The group acts as the first point of contact with London trade desk on discussions of limits, one off exceptions, strategy etc.
• P&L and RISK ATTRIBUTION - Ensure that the reported daily P&L of London rates business is carefully scrutinized to understand risk taking activities and valuation issues. P&L attribution by risk factor is integral to this process to test accuracy of risk sensitivities.
• VALUATION - Accountable for ensuring that portfolios are valued properly and in accordance with Bank standards, including the execution and documentation of valuation processes.
• RISK LIMITS - Accountable for preparing analysis and recommendations on new products and other market risk limit issues, including limit structure and amounts, for presentation to the Market Risk Management and Policy Committee.
• TECHNOLOGY Represent Market Risk Management function in discussions of implementation of new and/or changes to technology supporting trading businesses.
• PARTNERSHIP Although working in a control function, it is essential to work in partnership with the Trading Desk, P&L Control and Operations units as well as peer market risk teams in Toronto and New York.
Dimension:
Business Coverage: Global Rates business is primarily focused on liquid flow trading on European and UK government debt and interest rate swaps. This is a new business initiative within Scotia Capital with a goal of primary dealership in both markets.
Entering the group at this stage allows the incumbent to help shape the growth and success of the European Rates trading desk by building appropriate supports and controls.
Competencies
• 3 to 5 years related experience in risk management or trading role with direct experience in Fixed Income trading (Gov’t debt and swap trading) and valuation.
• Experience with EUR and GBP rates markets preferred.
• MBA or post-graduate degree in economics/finance or a quantitative discipline, and CFA designation preferred.
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About
Risk Management Jobs
Scotiabank’s Risk Management professionals work in mitigating risk and exposure within the credit, securities and operational market by establishing credit policies and creating adjudication models for commercial and corporate banking.
Individuals in this field work in four areas: a) Credit Risk: corporate, commercial, real estate, international and consumer credit as well as special accounts management; b) Risk Policy: risk policy, operational risk and enterprise risk management and reporting; c) Ratings, Systems and Analytics: Basel, modeling analytics and internal ratings; d) Market Risk: interest rate and commodity, credit and equity derivative, hedge fund risk as well as asset liability management, international market risk and risk research and modeling.
Some job opportunities include: Sr. Manager, Credit Adjudication; Manager, Credit Adjudication; Analyst, Credit Adjudication; Analyst, Market Risk Management; Senior Manager, Market Risk Policy Analyst; Senior Manager, Interest and Commodities.