Title:  Associate Director, ALM Risk Modelling

Requisition ID: 242551

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

At Scotiabank, we are committed to investing in our employees and supporting your career growth. Join a dynamic and innovative analytics team that develops high-performance solutions to support traders, strategists, and senior management within Scotiabank’s Head Office Treasury.

Our team brings together quantitatively minded professionals with diverse backgrounds in mathematics, statistics, physics, finance, and computer science. This diversity fosters fresh ideas and creative approaches to complex challenges. Working within a top-tier Canadian bank treasury unit, you will gain a unique perspective on how the bank operates, and your contributions will directly influence decisions that manage a large international bank’s balance sheet.

As the ALM Modeling Team in Treasury, we are responsible for modeling all assets and liabilities on Scotiabank’s balance sheet, including our international subsidiaries. We ensure that the interest rate risk in the banking book (IRRBB) is modelled well so that this risk can be fully transferred to Group Treasury and hedged. We have several significant projects underway to modernize our view and treatment of this risk. These are high-profile models which receive considerable attention from senior management and provide key inputs for managing interest rate risk in the banking book.

Although we work in a dynamic and competitive environment, we maintain our focus on concrete priorities. We set a high standard for ourselves, with a vision to be the Bank’s most trusted modeling partner. We collaborate closely with stakeholders across Treasury, Risk, Finance, and Technology to deliver robust processes and innovative solutions that meet evolving regulatory and business requirements.

We are looking for people to help us drive initiatives forward, joining our diverse team of quants, data scientists, and developers to collaborate with our many stakeholders across Scotiabank. We value creativity, collaboration, and continuous improvement, and we are committed to building modeling frameworks that enhance financial stability and operational efficiency.

• Do you love to apply your data, analytic, and modelling skills to solve relevant problems that could have an immediate impact to Scotiabank’s reported results and hedging trades?
• Do you want to be part of the exciting endeavour of building out the next generation treasury framework to make a safer financial world?
• Do you have a passion for communicating technical results in plain language to senior decision makers and other business partners?
• Are you fluent in Spanish and have experience in banking dynamics in emerging markets?
• This role is ideal for a person with quantitative modeling background and experience in interest rate risk or market risk modelling
• This is also good starter role for someone with a strong graduate-level quantitative background with proven interest in Finance, Economics, or Derivatives via reading and self-education

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

• Take a balance sheet position of the international subsidiaries and model it from start to finish, using historical and exogenous data to support calibration, and reviewing the final implementation in our risk measurement software to ensure the correct outputs are produced
• Understand both the interest rate and liquidity risk perspectives to ensure a balanced view of risk
• Liaise with our international counterparts to understand the nuances of their balance sheet behavioural components and options risk (e.g., mortgages and demand deposits) to support development of bespoke models.
• Work with subsidiaries to review datasets
• Regularly present model analysis and proposals to stakeholders and senior management
• Design and code models following software best practices, to ensure optimal use of computing resources, streamlining operations and maintenance

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

• Strong cross-functional collaboration skills, meaning a proven ability to lead and coordinate efforts across Treasury, Risk, and IT teams to align model development with real-world option risk dynamics and business objectives.
• Solid mathematical background, programming knowledge, and problem-solving skills, with a keen interest in applying your qualifications to financial and derivatives modeling
• Graduate degree in physics, engineering, mathematics, or other quantitative discipline, or commensurate experience
• Knowledge of asset and liability management and modelling experience in risk management or derivatives pricing.
• Experience in structural interest rate risk modelling is a bonus
• A software engineering mindset is essential for our work. Python programing is a bonus
• Effective communication and specifically the ability to summarize complex ideas in simple terms; you enjoy working in collaborations.
• Experience in managing and pushing forward projects
• Fluency in Spanish is required

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
• You'll be part of a diverse, collaborative, innovative, and high-performing team
• We offer a competitive rewards package:
• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching
• Health Benefits from day one!
• You will relish work-life balance, team events, and opportunities to participate in the community.
• Your career matters!  You will have access to career development and progression opportunities.

Please Note:  Group Treasury staff are treated as insiders of the Bank and are subject to the Terms and Conditions of the Scotiabank Personal Trading Policy.

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.