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

Scotiabank•New York City, NY

8d•$185,400 - $310,600•Onsite

About The Position

The Counterparty Credit Risk (CCR) – LATAM Lead provides regional leadership and independent second-line oversight of Counterparty Credit Risk across Latin America. The role establishes a consistent, comprehensive and sustainable regional CCR framework while recognizing local regulatory, legal, market and business requirements. It is the principal regional coordination point between Global CCR, local CCR and Risk teams, Credit Officers, Legal, business lines and other control functions, translating global standards into local execution and ensuring regional considerations inform the global framework. The role leads the LATAM CCR agenda and governance, develops the regional framework for derivatives, Securities Financing Transactions (SFTs), margin lending and other activities generating counterparty exposure, and partners with Credit Officers and Global CCR on regional and country-level risk appetite, limits and escalation thresholds. It oversees stress testing, legal documentation and terms, portfolio monitoring, regulatory readiness, business initiatives, data quality and controls, and represents LATAM CCR in regional and global risk committees. The position also supports effective operations in accordance with Scotiabank’s values, Code of Conduct, Global Sales Principles and control obligations, and contributes to an inclusive, high-performance environment. The successful candidate will have substantial experience in counterparty credit risk, traded products or an adjacent credit-risk discipline within a complex financial institution, with strong knowledge of derivatives and SFTs. The role requires familiarity with CCR regulation, experience across multiple jurisdictions and legal entities, effective cross-functional partnership, executive communication, independent challenge and the ability to lead complex initiatives without relying solely on direct reporting lines. The role is based in a standard office environment in New York City. Non-standard hours are a common occurrence. Salary range: $185,400–$310,600; the range is a guideline, and the offered salary may vary based on relevant knowledge, skills and experience.

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 and 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 and independent challenge skills.
Ability to lead complex cross-functional initiatives without relying solely on direct reporting lines.

Responsibilities

Lead the LATAM CCR agenda and coordinate local CCR and Risk teams, establishing clear ownership, escalation and governance.
Drive consistent application of global CCR policies, methodologies, metrics and standards while accommodating legitimate local regulatory requirements.
Build and continuously enhance the regional CCR framework for derivatives, SFTs, margin lending and other counterparty-exposure 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, consistent with the global stress framework.
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 new products, markets and counterparties have appropriate risk appetite, limits, documentation, stress testing, data and controls before launch.
Monitor regulatory developments across LATAM jurisdictions, assess their CCR implications, 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; coordinate mitigation and escalation where needed.
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 regional and global risk committees and communicate portfolio risk, business initiatives, regulatory developments, limits, stress testing and emerging concerns.
Coordinate responses to regulatory examinations, audit activity 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, maintaining adequate and effective day-to-day controls for operational, compliance, AML/ATF/sanctions and conduct risk obligations.
Contribute to a high-performance and inclusive work environment.
Champion a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.