Title:  Director, Prime Services Risk (in-business)

Requisition ID: 237160

 Salary Range: 300,000.00 - 300,000.00 

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

Title: Director, Prime Services Risk (in-business)

Global Banking and Markets 

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. 

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.  

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries!  We work together to drive ambition for every future! 

Overview

This role will be focused on Scotiabank GBM's global repo portfolio, providing a detailed risk perspective to help the business make informed decisions. The role requires a deep understanding of the repo product across asset types including government, supranational, corporate bonds, CLOs, ABS, RMBS and CMBS. USD, CAD, EUR and GBP are the main currencies of coverage. The Role will sit in-business reporting to the first line and report to the Managing Director, Head of Front Office Prime & Repo Risk.

What You'll Do:

Manage risk for the US PS platform. This role is within the business, which has experienced rapid growth recently. This role will support the continuing expansion of the business.

Specific responsibilities include:
•    Analysis of counterparty risk across a variety of client types, with a focus on hedge funds
•    Sales support: assist the sales force by discussing margin and risk appetite with clients; analyze prospective client portfolios and provide margin analyses; work with internal groups to get credit approval
•    Negotiate risk- and margin-related legal terms with clients; work with internal and external counsel on margin lockup agreements
•    Coverage: day-to-day coverage of the margin process for clients on the US PS platform; answer client inquiries about margin
•    Work with the firm’s independent risk management function to manage market, credit, liquidity, and operational risk
•    Design and improve risk, margin, and control reports for clients and management; write business requirement documents and create report prototypes for IT; work with IT on implementation and validation; work with the product development team to manage and prioritize tasks
•    Monitor client and business line credit limits and utilization- work with internal groups to manage limit breaches
•    Develop and refine procedures 
•    Support senior management with ad hoc queries and audits

Coverage may also include the repo desk, so experience in repo markets or with structured credit products is also a plus.

What You'll Bring:

Requirements 

•    Background in prime brokerage risk
•    Understanding of equity markets
•    Comfort with quantitative concepts
•    Excellent communication skills, both written and oral
•    Proficiency with Microsoft Excel
•    Proficiency with Bloomberg, including Excel API

Desired Skills/Experience
•    Proficiency with VBA and/or Python
•    Proficiency with Microsoft Access and/or SQL
•    Familiarity with security pricing models (options, converts, bonds) and/or risk modeling (VaR, stress-testing)
•    Knowledge of US securities law and margin concepts (such as Securities Act of 1933, Securities Exchange Act of 1934, Investment Company Act of 1940, Regulation T, Regulation U, FINRA 4210)
•    Series 7 & 63 licenses
•    Experience with structured credit products including CLOs, ABSs, and MBSs

Interested? 

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture. 

What's in it for you? 

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs. 

Location(s):  United States : New York : New York City

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.