Job Description

Requisition ID: 169111

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

• 
  Ensure that market risks in the Primes Services is 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 globally

Job Responsibilities:

• 
  Market Risk \xe2\x80\x93 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 adherence with Bank\xe2\x80\x99s 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.
• Counterparty Market Risk \xe2\x80\x93 Provide oversight of the hedge fund portfolios from a margin sufficiency perspective and provide recommendations on margin adjustments where required.
• New Product & Limit Adjudication \xe2\x80\x93 Review new product proposals and make recommendations to MRMPC on limit requests, including proposing new limits according to the Bank\xe2\x80\x99s risk appetite.
• Partnership with the Business \xe2\x80\x93 Engage business stakeholders in a proactive manner to promote open communication between risk and trading. Escalate trading issues and work effectively with senior trading management.
• Communication \xe2\x80\x93 Communicate regularly with SVP-TFRM and VPs-TFRM 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 \xe2\x80\x93 Assist VPs-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 \xe2\x80\x93 Advise on appropriate valuation reserve adjustments in accordance with Bank\xe2\x80\x99s 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 \xe2\x80\x93 Participate in enhancement / upgrade of production and risk systems as needed.

Job Requirements:

• 
  Quantitative Undergrad (eg. finance, mathematics, statistics, engineering) plus Masters preferred. Progress towards/completion of CFA/FRM/PRM an asset.
• 7 years or more experience in market risk management
• Solid experience in financial risk especially in front office (hedge funds) and risk management or related functions.
• Solid market risk understanding of Prime Services, SBL and Repo Business
• Deep understanding of financial markets, risk analysis and derivatives valuation.
• Excellent written and verbal communication
• Proven leadership skills
• Ability to work in a fast paced environment.
• Exceptional problem solving skills

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. 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.