Title:  Manager, Counterparty Credit Risk Analytics - Market Risk Measurement

Requisition ID: 224241

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

Excited about creating a safer financial world by using your data, analytics, and modelling skills?  – Join us!

As the Market Risk Measurement (MRM) team, we are an established leader in risk methodologies with many awards and several firsts in the Canadian banking sector: We build internal models, risk frameworks, and systems for Market Risk, Liquidity Risk, and Counterparty Credit Risk Measurement. We prepare Scotiabank for the adoption of new regulatory and industry-wide initiatives and contribute to discussion with regulators on changes that increase the financial stability of banking systems world-wide. MRM played a key role in Scotiabank becoming the first bank in Canada to receive regulatory approval for using Internal Model Methods (IMM) for Counterparty Credit Risk.

MRM is actively involved in the Bank’s Diversity & Inclusion (D&I) initiatives representing the diverse gender, cultural and ethnic backgrounds of our team. The more diverse we are, the more balanced our approach and models will be! The team is a key contributor to Women-in-Leadership activities – we take part in enterprise-wide D&I discussions, events, and Employee Resource Groups to enhance the representation and recognition of minority groups in the bank.

We are looking for people and talent that will help us drive these large-scale initiatives forward and work alongside our diverse team of quants, data scientists and developers and collaborate with our many stakeholders across Scotiabank.

Is this role right for you?

Do you love to apply your quantitative finance and data analytics skills to solve relevant problems? Do you want to be part of the exciting endeavour of building out the next generation market risk framework to make a safer financial world? This role is ideal for a person with quantitative background who is keen to move forward bank-wide projects that require a high degree of communication and stake-holder management.

As a member of the Counterparty Credit Risk Analytics team, you will work with the Bank’s Counterparty Credit Risk (CCR) systems which cover measurement of Potential Future Exposure (PFE), IMM capital and xVA pricing. The team is at the forefront of new bank-wide initiatives related to CCR systems with exposure to many stakeholders from business and risk functions. You will collaborate with front-office, model developers, credit risk managers, CCR management, data governance teams, and technology to build out analytics support and data solutions to ensure accurate reporting and insights on CCR measures used to monitor CCR in the Bank’s CCR Monte Carlo engine as well as capital calculation system.

In this role, you will:

• Collaborate with front office, model development, technology, and downstream data users to provide daily governance on CCR measures (MTM, Current Exposure, PFE).
• Become a trusted advisor to business lines and stakeholders to provide insights on counterparty PFE movement/breach investigation to support business strategy.
• Take a hands-on role in several key strategic initiatives that are highly quantitative and key to accurate and timely CCR reporting.
• Work closely with stakeholders and technology to enhance systems and analytics platforms, reporting and analytics approaches, and automate various reporting or investigation processes.
• Assist team members with various operational responsibilities including oversight of exposure data monitoring dashboard and corresponding analyses, ad-hoc data pulls and analyses, documentation, other regular reporting, preparation of materials, etc.
• Become an active member of the team including our D&I initiatives and communities.

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

• Solid quantitative background and problem-solving skills with a keen interest in Capital Markets, Finance, Economics, Derivatives, Risk framework and Regulations.
• Advanced degree in a mathematics, economics, or scientific discipline (e.g., Mathematics, Statistics, Physics, Engineering, Biology, Finance, Economics, etc.). Master’s degrees or PhDs are a bonus.
• Advanced knowledge of derivatives and SFT products and industry wide methods for CCR calculations.
• Excellent communication skills and specifically the ability to summarize complex ideas in simple terms. Strong presentation and writing skills.
• You like communication and stakeholder management, and you strive to push forward projects.
• Hands-on experience with Python and/or other Object-Oriented languages and Unix bash scripting is preferred.
• SQL programing is essential to support day-day activity.
• Advanced knowledge of databases and BI tools (especially MS Power BI) is an asset.

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!

This position is located Downtown, Toronto.

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.