Senior Manager, Funds Risk Management - Credit Adjudication

Scotiabank•Toronto, ON

2d•Onsite

About The Position

Funds Risk Management is responsible for risk management and analysis of Hedge Funds, Pensions Funds, Private Equity and other Investment Funds. As a Senior Manager, you will be a key member of the Funds Risk Management team who is responsible for credit risk adjudication and ongoing monitoring of the financial health of the Hedge Funds portfolio. The team participates in customer due diligence meetings as well as monitoring and reporting for the assigned portfolio of accounts. The team works closely with three major Global Banking and Market’s (GBM) business lines - Prime Services, Collateral Management and Funding, and Credit Total Return Swaps to provide products and services to their hedge fund customers. You are expected to act as a strategic partner and trusted advisor to the GBM business lines with respect to risk related matters concerning Hedge Funds globally. You are expected to have a strong background of credit, market and counterparty credit risk management frameworks, related policies of the Bank, and industry best practices with regards to counterparty credit risk management.

Requirements

3+ years institutional credit experience in a large financial institution.
Experience in the analysis and risk management of Hedge Funds and/or other investment vehicles
Solid knowledge of Secured Financing Transactions and derivatives.
Market Risk experience is highly preferred.
Excellent interpersonal and communication skills, both written and oral.
Strong time management, planning and organizing skills to manage multiple priorities.
Ability to work in a fast-paced environment.
Previous Credit Risk or Banking experience required.

Nice To Haves

MBA / CFA Charter qualifications are preferred, but not a prerequisite.

Responsibilities

Approve, maintain and manage credit exposure to Hedge Funds clients across derivatives and secured financing transactions.
Conduct proactive risk management of the Bank’s Hedge Funds Portfolio for assigned accounts by assessing clients’ portfolio risk, liquidity of client positions, credit limits and risk appetite ratios.
Partner with our banking, business line and market risk colleagues to ensure that both credit and market risks are effectively evaluated and mitigated.
Participate in Hedge Fund client due diligence calls/meetings and maintain the relationship to ensure appropriate ongoing monitoring of the portfolio.
Conduct Credit and Market risk analysis of business requests, ensuring material issues are identified through concise commentary, and provide appropriate recommendations. This includes: comprehensive credit evaluation of counterparties to assess and mitigate investment, business and/or operational risk, evaluate appropriateness of risk/return metrics of deal proposals, and appropriateness of terms and conditions, exposures, margining, termination events and other covenants for a wide range of facilities including prime brokerage, repo/rev repos, foreign exchange, interest rate derivatives, and credit total return swaps.
Assist and participate in the presentation of credits to Senior Management and the Senior Credit Committee.
Conduct ongoing monitoring of the credit quality of the portfolio and compile weekly early warnings reports for higher risk clients.
Monitoring of deal terms and conditions carried out by other groups within the Bank and ensure limit overruns are regularized in a timely manner.
Prepare portfolio reporting, documentation of processes and contribute to development and enhancement of processes and reporting requirements.
Work with technology team to develop and enhance data analytics for senior management on the overall hedge fund portfolio as well as individual counterparties.
Assist with preparation of the annual Hedge Funds Industry Report, and with assigned projects as required.
Continuously develop and maintain a high degree of industry knowledge/expertise.
Contribute to the department's goals and objectives through active participation in projects and initiatives.