Director

Scotiabank•Toronto, ON

1d•Onsite

About The Position

Ensure that market risks in global FX, and Collateral Management business are understood, controlled and reported in accordance with Bank policies and risk appetite. Work in close collaboration with the business line as a valued partner by identifying key risks and assessing market conditions. Review business line proposals for new products and limit changes and make recommendations to senior management. Directly manage a team of risk professionals in Toronto. Facilitate effective communication between risk and trading management teams across various centers in which the business operates (Toronto/London/New York).

Requirements

Quantitative Undergrad (eg. finance, mathematics, statistics, engineering) plus Masters preferred.
5 years or more experience in market risk management.
Deep understanding of financial markets, risk analysis, non-linear and exotic instruments, derivatives valuation.
Excellent written and verbal communication.
Proven leadership skills.
Ability to work in a fast-paced environment.
Exceptional problem-solving skills.

Nice To Haves

Progress towards or completion of CFA/FRM/PRM an asset.

Responsibilities

Oversee market risk exposures for covered businesses and communicate to Senior Risk Management, Senior Trading Management and MRMPC on trading risks, trader sentiment and market conditions.
Ensure adherence with Bank’s risk appetite and the business mandate.
Review daily risk and limit reports, and engage in discussions with the business as appropriate.
Provide commentary to the Market Risk Management and Policy Committee (MRMPC) on limit overruns and corresponding remedial actions.
Review new product proposals and make recommendations to MRMPC on limit requests, including proposing new limits according to the Bank’s risk appetite.
Engage trading groups in a proactive manner to promote open communication between risk and trading.
Escalate trading issues and work effectively with senior trading management.
Communicate regularly with VP-TFRM and Chief Market Risk Officer on trading activity, trading risk profile, trader sentiment and market developments in covered businesses.
Collaborate with global TFRM teams to ensure there is consistency in risk management approach.
Collaborate with other Bank and GRM stakeholders to achieve common objectives.
Assist VP-TFRM in interactions with regulators and participate in risk assessments performed by exchanges and clearing members.
Participate in external and internal audits and coordinate resolution of findings.
Advise on appropriate valuation reserve adjustments in accordance with Bank’s policies.
Recommend changes in valuation methodology as needed.
Ensure independent price verification is performed in accordance with policies.
Approve pricing sources for model valuation inputs, and maintain Official Rate Source Document (ORSD) for covered products.
Identify risk taking activities and valuation issues through oversight of daily P&L attribution analysis.
Participate in enhancement / upgrade of production and risk systems as needed.