Job Description

Requisition ID: 190353

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

Purpose of Job:

Trade Floor Risk Management (TFRM) is a team within Global Risk Management that measures and monitors market risk arising from Scotiabank GBM\'s trading activities. The team also plays a key role in valuation, policy setting, and regulatory projects.

The TFRM Funds Risk Management - Prime Services team oversees the Prime Services business\' activities, mainly Margin Lending, Synthetic Financing, and Securities Borrowing & Lending. Scotiabank\'s Prime Services platform\'s global footprint is extensive, with longstanding local market expertise and experienced professionals in North America, Europe and Asia. The TFRM Funds Risk Management team is unique for its focus on both credit adjudication and market risk oversight.

This opening is in the market risk group within the larger TFRM Funds Risk Management team which also has personnel in international locations. The market risk group (1) maintains the market risk limit framework/policies and plays a key role in making enhancements, (2) maintains margining methodologies and approves any exceptions (3) reviews new product proposals and make recommendations to TFRM management on limit requests, and (4) reports key risk metrics and exposures to internal and external stakeholders on a regular basis. The group is also involved in ad hoc analyses and projects that require a market risk perspective.

Job Responsibilities:

• Market Risk Oversight - Oversee market risk exposures for Prime Services activity. Help ensure adherence with Bank\'s risk appetite and the business\' mandate. Review risk and limit reports, and engage in discussions with the global team and trading management as appropriate.
• Counterparty Market Risk - Provide oversight of the portfolios from a margin sufficiency perspective and provide recommendations on margin adjustments. Collaborate with credit adjudication on credit reviews.
• Technology - Participate in enhancement / upgrade of production and risk systems as needed.
• Partnership with Trading - Engage trading groups in a proactive manner to promote open communication between risk and trading.
• New Product & Limit Adjudication - Review new product proposals and make recommendations to TFRM management on limit requests.
• Margin Framework Adjudication - Review margin methodology and assess margin exception requests to advise TFRM management accordingly.
• Communication - Inform regularly with TFRM management on trading activity, trading risk profile, trader sentiment and market developments in covered businesses. Collaborate with other Bank stakeholders to achieve common objectives.
• Regulatory & Audit - Participate in external and internal audits and resolution of findings.
• Valuation - Recommend changes in valuation methodology as needed. Maintain valuation governance documents (Official Rate Source Document, Master Configuration and Valuation Reserve Summary) for covered products. Identify risk taking activities and valuation issues through oversight of daily P&L attribution analysis and Independent Price Verification (IPV)

Job Requirements:

• Quantitative Undergrad (eg. finance, mathematics, statistics, engineering) plus Masters preferred. Progress towards/completion of CFA/FRM/PRM an asset.
• Good comprehension of financial markets, risk analysis and derivatives valuation. Comprehension of risk measurement concepts such as Greeks, VaR, PFE and stress testing is required.
• Ability to manage projects independently while collaborating with different stakeholders.
• Excellent work ethic and communication skills suited for a fast-paced trade floor environment.
• Exceptional problem-solving skills.
• Experience working with Tableau is an asset.

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 . 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.

Scotiabank