Director, Counterparty Credit Risk, Latin America (LATAM) Lead, Global Risk Management

Scotiabank•New York, NY

9d•$185,400 - $310,600•Onsite

About The Position

The Counterparty Credit Risk – LATAM Lead provides regional leadership and independent second-line oversight of Counterparty Credit Risk (CCR) across Latin America. The role establishes a consistent, comprehensive and sustainable regional CCR framework while recognizing local regulatory, legal, market and business requirements. It serves as the principal regional coordination point among Global CCR, local CCR and Risk teams, Credit Officers, Legal, business lines and other control functions, translating global standards into effective local execution and feeding regional considerations into the global framework. The position leads regional CCR governance and oversight across derivatives, Securities Financing Transactions (SFTs), margin lending and other activities that generate counterparty exposure. It partners with relevant stakeholders on risk appetite, limits, stress testing, collateral and margin frameworks, legal documentation, regulatory readiness, portfolio monitoring, data quality and controls. The role also provides independent challenge and CCR oversight for business growth and new initiatives, and represents LATAM CCR to regional and global risk committees and other senior stakeholders. The successful candidate will have substantial experience in counterparty credit risk, traded products or an adjacent credit-risk discipline within a complex financial institution, strong knowledge of derivatives and SFTs, and experience working across multiple jurisdictions and legal entities. The work is performed in a standard office-based environment; non-standard hours are a common occurrence. The position is located in New York City, United States.

Requirements

Substantial experience in counterparty credit risk, traded products or an adjacent credit-risk discipline within a complex financial institution.
Strong knowledge of derivatives and Securities Financing Transactions (SFTs).
Experience designing or implementing CCR frameworks, risk appetite, limits, stress testing, collateral or margin frameworks, and legal-documentation standards.
Strong familiarity with the regulatory environment affecting CCR.
Demonstrated experience working across multiple jurisdictions and legal entities.
Ability to partner effectively with Credit Officers, Legal, Market Risk, front-office businesses, Operations, Technology and senior risk leadership.
Strong executive communication skills and ability to provide independent challenge.
Ability to lead complex cross-functional initiatives without relying solely on direct reporting lines.

Responsibilities

Champion a customer-focused culture to deepen client relationships and leverage the Bank’s broader relationships, systems and knowledge.
Lead the LATAM CCR agenda and coordinate local CCR and Risk teams, establishing clear ownership, escalation and governance while applying global standards and accommodating legitimate local regulatory requirements.
Build and continuously enhance the regional CCR framework for derivatives, SFTs, margin lending and other counterparty-exposure-generating activities, including exposure measurement, PFE, collateral, concentrations, wrong-way risk, limits and escalation.
Partner with Credit Officers and Global CCR to establish and maintain regional and country-level risk appetite, limits and escalation thresholds; independently challenge concentrations, counterparties, products and business proposals.
Establish and oversee a LATAM CCR stress-testing program covering material counterparties, products, concentrations and country-specific vulnerabilities, aligned with the global framework and adapted to regional risks.
Partner with Legal, Credit and the business to standardize counterparty credit terms, including collateral, margin, netting and termination provisions; govern exceptions and ensure appropriate independent review of non-standard terms.
Provide CCR oversight and constructive challenge for LATAM growth initiatives, ensuring appropriate risk appetite, limits, documentation, stress testing, data and controls before new products, markets and counterparties launch.
Monitor CCR-related regulatory developments across LATAM jurisdictions, coordinate implementation, and maintain appropriate evidence, governance and issue tracking.
Maintain an integrated view of the LATAM CCR portfolio, including exposures, concentrations, collateral, stress results, limit utilization, exceptions and emerging risks; identify deterioration and coordinate mitigation or escalation.
Drive convergence toward common global methodologies, policies, data standards, reporting and governance while addressing local requirements.
Partner with Technology, Analytics, Operations and local teams to improve regional CCR data completeness and quality and integrate LATAM activity into global monitoring and reporting infrastructure.
Represent LATAM CCR in appropriate regional and global risk committees; communicate portfolio risk, initiatives, regulatory developments, limits, stress testing and emerging concerns; coordinate responses to regulatory examinations, audits and remediation programs.
Consider the Bank’s risk appetite and risk culture in day-to-day activities and decisions.
Promote effective and efficient operations in accordance with Scotiabank’s Values, Code of Conduct and Global Sales Principles, and ensure adequate and effective day-to-day controls addressing operational, compliance, AML/ATF/sanctions and conduct risk obligations.
Champion a high-performance environment and contribute to an inclusive work environment.