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Director - Hedge Fund Analytics - Toronto, ON

Date: Jan 4, 2019

Location: Toronto, ON, CA

Company: Scotiabank

 

 

Requisition ID: 45913

 

Join the Global Community of Scotiabankers to help customers become better off.

Job Purpose

Trade Floor Risk Management’s Vision is to foster excellence in risk-based decision making to enable sustainable growth and be recognized as a relevant business partner. Our Mandate:

  • Our deep understanding of financial markets and related business lines enables risk-reward based business decisions consistent with the Bank’s customer-focused strategy and risk appetite framework.
  • We develop effective controls and risk frameworks through our expertise and ability to assess and communicate systemic and idiosyncratic risks. Our independent and holistic assessment of risk and forward-looking analytics are the basis for insightful conversations with our partners.       
  • We use technology as a strategic enabler of efficiency and innovation in risk measuring activities and analytics. We continuously improve and adapt our processes and deliverables to remain responsive to our partners’ needs and the evolving nature of our business and the regulatory landscape.
  • We instill a culture of empowerment, innovation and openness at all levels, and our sense of ownership is a positive driving force in effectively delivering on our vision.

 

The Director, Hedge Funds Analytics, contributes to the above by leading and developing a team of risk professionals responsible for : (i) ensuring the market risks in the Bank’s Credit Total Return Swap (TRS) business are understood, controlled and reported in accordance with the Bank’s policies, procedures and risk appetite; (ii) the analysis and market risk adjudication of new and increased Credit TRS transactions as well as business line proposals for new products and limit changes and providing recommendations to senior management and banking clients within reasonable time frames; (iii) active monitoring of the Credit TRS portfolio and leveraged loan and high yield bond market conditions; (iv) working in close collaboration with the business line as a valued partner and trusted advisor by identifying key risks, assessing market conditions, endeavouring to improve the quality, effectiveness and efficiency of the process, with a view to assisting in creating bankable transactions, and (v) keeping abreast with developments in the hedge funds/private capital industry, and, in collaboration with the Hedge Funds Credit Adjudication, Market Risk Measurement, Back Office and Front Office teams, contribute to ongoing enhancements of policies, methodologies, and practices for hedge funds risk management.

 

As Risk Champion for Credit TRS, this position plays a key role in shaping the Bank’s risk appetite and governance framework for this business. The incumbent is expected to provide forward looking insights that contribute to the successful execution of the Mandate. Success in this role is determined by a combination of accountabilities and demonstration of core values – Ownership, Curiosity, Drive, Courage and Team-First.

 

Key Accountabilities

As Risk Champion, you are the focal point of contact for this business in TFRM.

 

  1. Ensure the market risks in the Bank’s Credit Total Return Swap (TRS) business are understood, controlled and reported in accordance with the Bank’s policies, procedures and risk appetite. This requires: familiarity with Market Risk Management Policies and procedures; understanding the underlying business, how trades are booked in and flow through the Bank’s systems and processes, the models used in the measurement of the risks (PFE, stressed loss, DV01, VaR & Stressed VaR, CS01) and rewards (P&L attribution, return on capital/RWA) as well as the different roles and responsibilities of the groups involved in the business. Have expert knowledge of the Credit TRS Limit Documents and Guidelines.

 

  1. Market risk adjudication 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.

 

  1. Oversee TFRM responsibilities required in and for the Credit TRS business including, without limiting the generality of the foregoing: Pricing, NDA’s, Credit TRS Collateral Management, exceptions, overrun reporting, Weekly P&L reporting, Limit Documents/LAMS/Business Line Governance, ORSD/MC, VRS, Volcker, Regulatory & Audit, etc. Ensure portfolios are accurately valued through analysis of daily P&L results and oversight over Independent Price Verification process.

 

  1. Market Intelligence/Proactive Analysis: active monitoring of the Credit TRS portfolio and daily risk reports. Maintain regular dialogue with business lines and control functions with respect to market developments and risk matters, including changes in risk profile and P&L drivers. Stay abreast of and communicate developments/conditions in the leveraged loan and high yield bond market.

 

  1. Working in close collaboration with the business line as a valued partner and trusted advisor by identifying key risks, assessing market conditions, endeavouring to improve the quality, effectiveness and efficiency of the process, with a view to assisting in creating bankable transactions and improved customer experience.

 

  1. Collaborate with the Hedge Funds Credit Adjudication, Market Risk Measurement, other TFRM Units, Back Office and Front Office teams, in ongoing enhancements of hedge funds risk measurement and monitoring, to ensure consistency in risk management approach and to achieve common objectives. 
  2. Effectively manage and engage your team, with an emphasis on developing future leaders. You are expected to invest in your own development and foster that of your team, contribute to a positive and motivating working environment consistent with the Bank’s performance culture, set goals for your team and yourself that are aligned with the TFRM, GRM and the Bank’s strategic priorities, give regular feedback using the Bank’s coaching model (including development discussions twice per year and performance discussions quarterly), and strive to be a proven and respected team leader.

 

Functional Competencies

  • Seasoned and progressive experience in a risk management or banking capacity, with a particular emphasis on market risk, capital market products (derivatives, leveraged loans/high yield bonds) and structured transactions. Familiarity with the hedge funds/private capital industry, e.g. strategies, market, regulations, risk and performance measurements, is a definite asset.
  • Strong critical thinking, communication and leadership skills.

 

Educational/Work Experience

  • Seasoned and progressive experience in a risk management or banking capacity, with a particular emphasis on market risk, capital market products (derivatives, leveraged loans/high yield bonds) and structured transactions. Familiarity with the hedge funds/private capital industry, e.g. strategies, market, regulations, risk and performance measurements, is a definite asset.
  • Strong critical thinking, communication and leadership skills.

Location(s):  Canada : Ontario : Toronto

As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. 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. Candidates selected for an interview will be contacted directly.  If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.


Job Segment: Analytics, Data Analyst, Manager, Bank, Banking, Management, Data, Finance

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