Managing Director & Senior Market Risk Officer

Scotiabank•Toronto, ON

6d•Onsite

About The Position

Provides strategic direction, leadership, and oversight for Market Risk teams in Latin America, including Peru, Mexico, Chile, and Brazil as well as other jurisdictions across the Caribbean, and the Emerging Markets Desk (USA), ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies, and procedures.

Requirements

Minimum bachelor’s degree in a related discipline.
Fluency in Spanish and English, as well as excellent communication and influencing skills are required to manage a diverse team across many jurisdictions within a matrix reporting structure.
Must possess strong knowledge of Structural Interest Rate Risk (IRRBB), Asset Liability Management, and Liquidity Risk
Must possess strong knowledge of capital markets risk and understanding of nuances (similarities and differences to developed markets) across Latin American countries.
Leadership skills as demonstrated by the management of a team of risk management professionals.
Must keep abreast of political, economic, regulatory, tax and legal developments, as well as funding issues.
Advanced presentation skills and ability to provide insightful and influential viewpoints to Executives and Senior Management
Expert ability to balance competing or conflicting goals of various departments/countries/stakeholders requiring a mature, diplomatic approach and highly developed negotiation and influencing skills.
Expert communication/facilitation and presentation skills for developing communication strategies for executive approval.

Nice To Haves

Master’s degree or recognized professional designation in a specialized area of finance or business or equivalent is an asset.

Responsibilities

Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Provides market risk oversight through management and oversight of local market risk officers each responsible for the businesses covered including: Provide oversight over trading, treasury and counterparty credit risk (CCR) activity, ensuring that risk taking is within the Bank’s risk appetite.
Facilitate effective risk-reward decisions by providing an independent opinion on new business initiatives. Approve limits under delegated authority and recommend limit changes to senior management.
Maintain regular dialogue with business lines and control functions with respect to market developments and risk matters, including changes in risk profiles (i.e., market, CCR, balance sheet, and liquidity risks) and P&L drivers.
Responsible for accurate valuation of trading portfolios including the creation and maintenance of policy.
Accountable for recommendations of all new Latin American trading business and products, trading, CCR and treasury (balance sheet and liquidity) limits, using Delegated Authority or escalation for Bank Committee approvals, and ensuring that such trading/treasury activities and corresponding risk limits are within the Bank’s risk appetite.
Manage and coach a diverse team of market risk managers across the Latin America region through continuous communication of enterprise market risk standards while being mindful of a dual reporting structure.
Directs day-to-day activities in a manner consistent with the Bank’s risk culture and the relevant risk appetite statement and limits. Communicates the Bank’s risk culture and risk appetite statement throughout their teams.
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 the 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 vison/values/business strategy; and, managing succession and development planning for the team.