Director, Prime Services Risk (in-business)

Scotiabank Global Site•New York City, NY

About The Position

This role will be focused on Scotiabank GBM's global repo portfolio, providing a detailed risk perspective to help the business make informed decisions. The role requires a deep understanding of the repo product across asset types including government, supranational, corporate bonds, CLOs, ABS, RMBS and CMBS. USD, CAD, EUR and GBP are the main currencies of coverage. The Role will sit in-business reporting to the first line and report to the Managing Director, Head of Front Office Prime & Repo Risk.

Requirements

Background in prime brokerage risk
Understanding of equity markets
Comfort with quantitative concepts
Excellent communication skills, both written and oral
Proficiency with Microsoft Excel
Proficiency with Bloomberg, including Excel API

Nice To Haves

Proficiency with VBA and/or Python
Proficiency with Microsoft Access and/or SQL
Familiarity with security pricing models (options, converts, bonds) and/or risk modeling (VaR, stress-testing)
Knowledge of US securities law and margin concepts (such as Securities Act of 1933, Securities Exchange Act of 1934, Investment Company Act of 1940, Regulation T, Regulation U, FINRA 4210)
Series 7 & 63 licenses
Experience with structured credit products including CLOs, ABSs, and MBSs

Responsibilities

Manage risk for the US PS platform.
Analysis of counterparty risk across a variety of client types, with a focus on hedge funds
Sales support: assist the sales force by discussing margin and risk appetite with clients; analyze prospective client portfolios and provide margin analyses; work with internal groups to get credit approval
Negotiate risk- and margin-related legal terms with clients; work with internal and external counsel on margin lockup agreements
Coverage: day-to-day coverage of the margin process for clients on the US PS platform; answer client inquiries about margin
Work with the firm’s independent risk management function to manage market, credit, liquidity, and operational risk
Design and improve risk, margin, and control reports for clients and management; write business requirement documents and create report prototypes for IT; work with IT on implementation and validation; work with the product development team to manage and prioritize tasks
Monitor client and business line credit limits and utilization- work with internal groups to manage limit breaches
Develop and refine procedures
Support senior management with ad hoc queries and audits
Coverage may also include the repo desk, so experience in repo markets or with structured credit products is also a plus.

Benefits

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

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