Title:  Director

Requisition ID: 263990 

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

Ensure that market risks in global FX, and Collateral Management business are understood, controlled and reported in accordance with Bank policies and risk appetite. Work in close collaboration with the business line as a valued partner by identifying key risks and assessing market conditions. Review business line proposals for new products and limit changes and make recommendations to senior management. Directly manage a team of risk professionals in Toronto. Facilitate effective communication between risk and trading management teams across various centers in which the business operates (Toronto/London/New York). 

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

• Market Risk – Oversee market risk exposures for covered businesses and communicate to Senior Risk Management, Senior Trading Management and MRMPC on trading risks, trader sentiment and market conditions. Ensure adherencewith Bank’s risk appetite and the business mandate.
• Review daily risk and limit reports, and engage in discussions with the business as appropriate. Provide commentary to the Market Risk Management and Policy Committee (MRMPC) on limit overruns and corresponding remedial actions.
• New Product & Limit Adjudication – Review new product proposals and make recommendations to MRMPC on limit requests, including proposing new limits according to the Bank’s risk appetite.
• Partnership with Trading – Engage trading groups in a proactive manner to promote open communication between risk and trading. Escalate trading issues and work effectively with senior trading management.
• Communication – Communicate regularly with VP-TFRM and Chief Market Risk Officer on trading activity, trading risk profile, trader sentiment and market developments in covered businesses. Collaborate with global TFRM teams to ensure there is consistency in risk management approach.
• Collaborate with other Bank and GRM stakeholders to achieve common objectives.
• Regulatory & Audit – Assist VP-TFRM in interactions with regulators and participate in risk assessments performed by exchanges and clearing members. Participate in external and internal audits and coordinate resolution of findings.
• Valuation – Advise on appropriate valuation reserve adjustments in accordance with Bank’s policies. Recommend changes in valuation methodology as needed. Ensure independent price verification is performed in accordance with policies. Approve pricing sources for model valuation inputs, and maintain Official Rate Source Document (ORSD) for covered products. Identify risk taking activities and valuation issues through oversight of daily P&L attribution analysis.
• Technology – Participate in enhancement / upgrade of production and risk systems as needed. 

Do you have the skills that will enable you to succeed in this role? 

• Quantitative Undergrad (eg. finance, mathematics, statistics, engineering) plus Masters preferred. Progress towards or completion of CFA/FRM/PRM an asset.
• 5 years or more experience in market risk management. Deep understanding of financial markets, risk analysis, non-linear and exotic instruments, derivatives 
  valuation.
• Excellent written and verbal communication.
• Proven leadership skills.
• Ability to work in a fast-paced environment.
• Exceptional problem-solving skills.

What’s in it for you?

• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development.
• Internal development to support your growth and enhance your skills.
• A competitive compensation and benefits package.
• An organization committed to making a difference in our communities– for you and our customers.
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

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.