Title:  Director, Head of Market Risk and Liquidity, SIDAC

Requisition ID: 253647

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

Purpose

The Director, Head of Market Risk and Liquidity will be responsible for leading a team with risk oversight responsibilities for Treasury and Capital Markets including the following: identification and assessment of market, structural and liquidity risks in the businesses covered; analysis and assessment of limit requests and new products, valuation, risk reporting to relevant committees; Review and Challenge of ILAAP and contributing to other enterprise documents (Recovery Plan, ICAAP), stress testing, management of relevant policies, procedures and models.

As part of the wider Risk Management leadership team, the Director contributes to the overall success of the Risk Management Function in SIDAC ensuring specific individual goals, plans and initiatives are executed / delivered in support of the team’s business strategies and objectives. The role holder also ensures that all activities are conducted in compliance with governing regulations, internal policies and procedures.

Accountabilities

• Leads the TFRM team in providing effective challenge to Treasury and Capital Markets by ensuring market, structural and liquidity risks are identified, assessed, analysed and communicated daily to senior management, in line with SIDAC’s risk appetite, limits and approved mandate.
• Ensures timely preparation and presentation of analyses and recommendations on new products, limits and risk issues to the CRO, ALCO, MRMPC, TRC, New Initiatives Committee and Board Risk Committee. Resolves risk and valuation issues to ensure portfolios are valued in accordance with Bank standards, including appropriate documentation of valuation processes.
• Oversees management and maintenance of relevant policies, frameworks, procedures and models, ensuring they remain current and fit for purpose in line with regulatory developments. Leads effective review and challenge of ILAAP and contributes to enterprise risk documents including the Recovery Plan, ICAAP and Risk Appetite Framework. Ensures appropriate stress testing and quality assurance reviews of regulatory reporting are conducted.
• Ensures independent validation of the annual ALGO self assessment in collaboration with Business Risk Management and Enterprise Risk Management, with outcomes presented to the Compliance and Conduct Committee. Delivers high quality, timely risk reporting aligned to stakeholder needs.
• Acts as the primary risk interface on the Dublin trade floor, engaging with trading desks on limits, exceptions and strategy, and maintaining regular communication with the CRO and TFRM leadership in Toronto on liquidity, trading activity, risk profile and market developments. Works closely with Treasury, Capital Markets, Trading, Product Control, Operations and global TFRM teams, escalating issues as required.
• Acts as a key contact for Senior Management, Audit, Compliance and Risk functions. Prepares and reports against an annual work plan to the CRO. Monitors regulatory developments, communicates impacts, supports risk appetite communication and training, and represents TFRM in technology and infrastructure initiatives.
• Promotes strong risk culture, customer focus, operational effectiveness and robust controls across operational, regulatory, AML/ATF and conduct risk obligations. Ensures consistent and resilient application of risk practices across Dublin, London and Toronto.
• The role has been identified as a Central Bank of Ireland prescribed Controlled Function. The incumbent is therefore required to have the relevant fitness and probity to carry out the role and responsibilities in such a manner that the incumbent can comply with the Central Bank of Ireland 2011 Fitness & Probity Standards, as applicable to the role. In general, the Fitness & Probity Standards require the role holder to: (a) be competent and capable; (b) act honestly, ethically and with integrity; and (c) be financially sound.
• This role has been identified as a MRT (Material Risk Taker)

Competencies

1. Acts as a role model of professionalism and integrity, promoting a culture of doing the right thing. Communicates effectively, adapting style to audience and context, and builds strong relationships across business lines to promote understanding of the Bank’s risk framework and information sharing.
2. Takes ownership, focuses on what matters most, and consistently delivers results in a fast paced, challenging environment. Puts the customer first, works collaboratively across departments, and demonstrates self awareness by actively seeking feedback and pursuing continuous development.
3. Brings external perspectives, trends and best practices to drive continuous improvement and stakeholder value. Demonstrates resilience and adaptability in the face of change, with the courage to express views, ask questions, and respectfully challenge to support sound decision making.
4. Puts team first, empowering others to achieve results with urgency, building diverse and high performing teams aligned to business needs, and maintaining strong internal and external networks.

Dimensions

This role reports to the Chief Risk Officer. This is a high-profile role with interactions with a range of functions including Capital Markets, Treasury, Finance, Operations and Risk within and outside SIDAC, including local C-suite positions, internal audit, and the Central Bank of Ireland. The Director has non-voting membership at ALCO and presents at local management and board committees and BNS MRMPC & TRC and represents SIDAC in local industry forums and provides local perspectives in global group forums.

Education / Experience

• Degree in economics/finance or a quantitative discipline.
• Familiar with the market, structural and liquidity risk profile of various banking and capital markets products and with related risk measurement and tools including VaR, risk sensitivities, stress testing, and models derived from minimum 10 years related experience in risk management, liquidity risk management or direct experience in the financial industry.
• Good understanding of and working knowledge of banking regulations and regulatory expectations with respect to capital and liquidity requirements.
• Good understanding of financial markets.
• Ability to work in a fast-paced environment with multiple priorities.
• Leadership skills as demonstrated by the management of a team of risk management professionals
• Advanced communication and presentation skills and ability to provide insightful and influential viewpoints to Executive and Senior Management.

Location(s):  Ireland : Leinster : Dublin 

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.