Director, Enterprise Balance Sheet Risk Oversight

Scotiabank•Toronto, ON

6d•Onsite

About The Position

Treasury Risk Management provides independent oversight of the Bank’s liquidity, capital, and structural balance sheet risks, as well as fund transfer pricing, hedging, and investment activities executed by Group Treasury (GT) and other treasury units globally. The Director, Enterprise Balance Sheet Risk Oversight, is responsible for leading the independent second-line oversight of Scotiabank’s GT activities. The role ensures that Interest Rate Risk in the Banking Book (IRRBB) and Structural FX (SFX) risks arising from business strategies are properly identified, measured, monitored, and controlled in accordance with regulatory requirements, internal policies, and the Bank’s risk appetite. This leadership role is accountable for the design and ongoing enhancement of a robust risk oversight framework, providing effective risk challenge, monitoring emerging exposures, and delivering timely, actionable insights to Senior Management, the Risk Management Committee (RMC), and the Board to support informed decision-making and sound risk governance.

Requirements

Master’s degree (e.g., Master of Finance, Master of Financial Risk Management, etc.).
10 years’ banking industry experience with deep expertise in balance sheet management oversight functions, ALM modeling, hedge accounting, and valuation of financial instruments within a global financial institution.
Exceptional ability to constructively challenge and influence Executive/Senior Management stakeholders, with an ability to translate high-complex financial metrics/concepts into concise strategic insights and business outcomes.
Demonstrated experience engaging with regulators, internal and external auditors, and compliance functions, including support for regulatory examinations and audit reviews. Deep expertise on Canadian market conventions and regulatory expectations.
Proven ability to influence across the organization, fostering cross-functional collaboration and alignment to achieve strategic and risk management objectives.

Nice To Haves

Professional certifications (i.e., CFA, FRM) are highly desirable.

Responsibilities

Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
Acts as the Bank’s principal expert on IRRBB and SFX risks, providing strategic direction, governance, and oversight through a comprehensive risk management framework, including: Risk Identification & Measurement - Establish and oversee key risk indicators capturing exposures across Group Treasury portfolios (i.e., liquidity, markets, private and public equities) and IRRBB and SFX risk management activities.
Balance Sheet - Provide independent review and challenge of hedging strategies and fund transfer pricing (FTP) frameworks, including governance over key assumptions, methodologies, and risk measurement parameters, while facilitating effective coordination between Treasury ALM modelling and GRM ALM model validation functions.
Stress Testing - Oversee the integrity and effectiveness of stress testing and scenario analysis frameworks through independent review and challenge of key assumptions, methodologies, and risk outcomes.
Drives automation and data analytics initiatives to improve governance, enable business growth, and enhance operational resilience across multiple data sources.
Accountable for recommending IRRBB and SFX risk limits, policies, and methodologies for GT activities, ensuring alignment with the Bank’s risk appetite and escalation protocols through delegated authorities and the Treasury Risk Committee (TRC).
Creates an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct, and the Global Sales Principles, while ensuring adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vision/values/business strategy; and managing succession and development planning for the team.
Plays a key role with global regulators (i.e., OSFI, FED) regarding IRRBB/SFX audits and reviews, as well as with relevant industry bodies and working groups, such as the Canadian Banker’s Association (CBA).