Manager, Balance Sheet Market Risk - Toronto, ON

Scotiabank • Toronto, ON

6d • Onsite

About The Position

Scotiabank is seeking a manager to assist the Senior Manager, Balance Sheet Market Risk in leading a team of risk professionals. The role focuses on the effective execution and continuous improvement of the team’s functions, including maintaining and enhancing reporting processes for Senior Management and business lines. The Manager will contribute to the group’s risk oversight and governance framework, ensuring compliance with regulatory requirements. A key aspect of the position is advancing the Bank’s stress testing framework, including system implementation and maintenance, and report design. The analysis generated will support internal decision-making and external regulatory reporting.

Requirements

• University degree in Finance, Economics, or quantitative field (finance, science, math, engineering).
• Experience in asset and liability management.
• Proficiency with BancWare is required.
• Strong database and spreadsheet skills are required.
• Strong communication and writing skills are required.
• Familiarity with programing software like Python or Matlab; and visualization software like Tableau is required.
• Language of work: English.

Nice To Haves

• Master’s degree/FRM/CFA or working towards those certifications is an asset.
• Familiarity with accounting principles and traded financial products is an advantage.

Responsibilities

• Lead end-to-end preparation of the Bank’s U.S. Structural Interest Rate Risk (SIRR) report using BancWare, including data ingestion and validation, yield-curve construction and shock design, scenario execution, output reconciliation with front-office numbers, and production of regulator-ready templates and management commentary.
• Produce a quarterly risk report that synthesizes BancWare outputs and peer/market analysis to highlight trends, drivers and emerging risks in the Bank’s balance sheet.
• Develop and maintain automated production checks and exception-reporting that accelerate delivery while preserving accuracy and auditability.
• Oversee monitoring and evaluation of structural limits and control metrics that provide governance over Treasury functions, and prepare supporting analysis for senior management and regulators.
• Participate in and lead elements of the group’s second-line oversight for structural interest rate risk using BancWare.
• Execute the monthly parallel run of Group Treasury’s BancWare model, performing an independent rebuild of balance-sheet cash-flow mappings, harmonizing assumptions, applying the same shock matrices, and reconciling KRD, NII and other metrics between first-line and second-line results. Document and escalate material variances for remediation.
• Conduct detailed KRD analytics within BancWare, including decomposition, attribution and sensitivity testing across tenor buckets and non-linear behaviors.
• Communicate directly with BancWare support for troubleshooting and resolution of process issues, coordinating system fixes and patches to ensure uninterrupted reporting and model integrity.
• Design and maintain model validation tests, change-control logs and regression suites to ensure ongoing model integrity and to support both internal audit and regulator enquiries.
• Act as a primary point of contact for cross-business line assumption setting (deposits, prepayments, behavioural parameters) and coordinate updates to ensure consistent inputs across front and second line.
• Maintain governance documentation: model design notes, run-books, reconciliation templates, testing results, and regulator-grade submission packages.
• Lead identification and specification of enhanced metrics and modelling refinements in BancWare (for example, customized KRD computation that captures specific customer behavior and curve dynamics).
• Implement improvements to strengthen risk capture and scenario representation (e.g., deposit decay/prepayment treatment, shock application logic, attribution outputs), and validate changes through back-testing and sensitivity analysis.
• Integrate BancWare outputs with the Bank’s analytics platform to enable downstream reporting, exception tracking and management dashboards while preserving audit trails.
• Monitor applicability of OSFI B-12 and other regulatory standards, assess impact on ALM reporting and controls, and support remediation or uplift workstreams.
• Represent second line on cross-functional working groups and regulatory initiatives — preparing technical input, designing test cases and translating regulatory requirements into model controls and reporting artifacts.
• Accept and lead additional group projects and ad-hoc management reporting that require deep institutional modelling knowledge.

Benefits

• A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision and dental benefits that start from day one and much more!

What This Job Offers

• Job Type: Full-time
• Career Level: Manager