Senior Manager, US Counterparty Risk

Scotiabank • New York, NY

59d • $120,900 - $231,400 • Hybrid

About The Position

The role will oversee all aspects of Counterparty Credit Risk (“CCR”) emanating from Scotia Capital (U.S.A.) Inc. (“SCUSA”) and Scotia Bank U.S. (“SBUS”), with a focus on Futures Commission Merchant (“FCM”). Take a leadership role in partnering with Global Banking and Markets (GBM) to ensure sound risk management practices are observed in CCR as it pertains to U.S. booked and managed activity.

Requirements

• Bachelor’s or Master’s degree or foreign equivalent in Finance, Mathematics or statistics, or a related field and four (4) years of progressively responsible experience in the job offered or related occupation
• Analyzing large sets of unclean data with bash, Python, and C++
• Optimizing risk report generation system using various software engineering tools
• Utilizing knowledge of quantitative finance for mathematical modeling of financial risks
• Managing financial risk in market risk and counterparty credit risk
• Writing detailed process documentation of newly created systems and existing systems
• Liaising with different stakeholders from front to back office, to externals (auditors, regulators)

Responsibilities

• Oversee daily and periodic CCR reporting for SCUSA, SBUS, and covered entities, including risk appetite metrics, facility- and counterparty-level Potential Future Exposure (“PFE”), stress breaches, Futures Commission Merchant (“FCM”) deliverables, and month-end and quarter-end reporting requirements.
• Familiarity with CFTC 1.73 & cross-margining, monitor client exposures across futures & options, across asset classes. Evaluate concentration and evaluate margin sufficiency. Assist credit risk with sizing limits.
• Lead review, approval, and communication of credit risk exposures across Repo, Securities-Based Lending, Prime Services, and OTC derivatives, including exposure trends, utilization changes, concentration risks, and limit or stress breaches.
• Assess stress scenarios, tail risks, PFE and stress testing models, and related assumptions, limitations, and weaknesses to support proactive portfolio risk identification.
• Partners with trading groups, system owners, data providers, and CMR to address emerging risk-taking activity, improve reporting timeliness and accuracy, and support review of margin exception requests.
• Strengthening CCR reporting infrastructure by understanding data and technology flows, enhancing Power BI dashboards and reporting tools, and overseeing production and risk system enhancements that improve controls and efficiency.
• Support governance, internal audit, and regulatory activities, including FRB requests, remediation of findings, RCSA and CRCA processes, and Clausematch updates for policies, procedures, and frameworks.
• Promote a high-performance, inclusive team environment through clear communication, succession planning, and talent development.

Benefits

• Employee Referral Program – Potential Reward: $3,500.00
• Investing in our employees and helping you continue your career
• Holistic well-being
• Flexible benefit programs designed to help support your unique family, financial, physical, mental, and social health needs.

What This Job Offers

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