Manager - ALM and Options Strategy

Scotiabank•Toronto, ON

1d•Onsite

About The Position

The Balance Sheet Management team within Group Treasury is seeking a highly analytical and technically skilled Manager to support the Bank’s Structural Interest Rate Risk (SIRR) and particularly the management of non-linear program within Group Treasury. This role is ideal for candidates with a strong background in derivatives risk, regulatory requirements (e.g. OSFI, CDIC, FRTB), particularly those with experience managing non-linear exposures and working with complex instruments such as Swaps, Interest Rate Options, Total Return Swaps (TRS). The successful candidate will contribute to the design and execution of hedging strategies, support daily risk reporting, and collaborate with cross-functional teams to enhance the Bank’s structural risk management framework.

Requirements

Deep understanding of derivatives pricing and risk sensitivities, including first- and second-order Greeks.
Hands-on experience with complex derivatives, such as Total Return Swaps, interest rate options, and structured products.
Strong grasp of market volatility dynamics, convexity risk, and their implications for hedging strategies.
Strong understanding of Bank Regulatory requirements, including but not limited to IRRBB, FRTB, CDIC Resolution.
Master’s degree in finance, Financial Engineering, Applied Mathematics, Computer Science, or a related quantitative discipline.
3+ years of experience in a bank, hedge fund, or capital markets environment, ideally in Finance, Treasury, Derivatives Trading, Structuring, or Market Risk.
Proficiency in Python, SQL, React or any UI programming language, and experience with risk analytics platforms (e.g., Bloomberg or in-house systems).
Excellent communication skills, with the ability to explain complex risk concepts to both technical and non-technical stakeholders.
A self-starter mindset with strong organizational skills and the ability to manage multiple priorities under tight deadlines.

Nice To Haves

Progress toward or completion of CFA, FRM, or other related designation is preferred but not mandatory.

Responsibilities

Ownership of non-linear hedging programs related to all-bank structural interest rate risk, with a focus on managing non-linear risks such as Gamma and Vega arising from embedded optionality on Banking Book products and complex derivatives.
Ownership of the monitoring of hedging strategies involving interest rate options, and other structured products and communications about its impact to downstream stakeholders.
Analyzing the impact of market volatility, convexity, and customer behavior on the bank’s structural risk profile.
Collaborating with trading desks, risk management, and finance teams to report on program’s margin impact, assess and optimize hedge effectiveness under various market scenarios.
Drive Hedge design analytics, daily and periodic risk reporting, including second-order risk metrics and scenario analysis for structural interest rate and foreign exchange exposures.
Contributing to the development and enhancement of risk models and analytics tools used to evaluate complex derivative exposures.
Driving process automation and documentation to improve operational efficiency and transparency.
Participate in the annual review of CDIC material leases for Resolution Planning purposes and facilitate updates as required.
Develop and manage a comprehensive framework in support of team’s management of the Stock-Based Compensation program.
Participating in ad hoc projects related to advanced risk analytics, model validation, and regulatory reporting.