Senior Manager, Funds Risk Management

1 week ago

Toronto, Ontario, Canada Scotiabank Full time

Requisition ID: 198944

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Funds Risk Management (FRM) - Structured Products Risk Analytics is liable for counterparty credit risk (CCR) analytics and market risk oversight for the Bank's Credit TRS portfolio, CLO warehousing and other credit derivatives related business. The team works closely with the Credit Derivatives Sales & Trading and Origination groups, Hedge Fund Credit, GWO, Product Control and Market Risk Measurement (MRM).

Job Responsibilities:

  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Counterparty Credit Risk – Provide oversight of the covered businesses from a margin sufficiency perspective and provide recommendations on margin adjustments where required. Lead the development of the analytical tools required to assist the bank's CCR management capabilities.
  • Market Risk – Oversee market risk exposures for covered businesses and socialize to Senior Risk Management, the business desk and Market Risk Management and Policy Committee (MRMPC) on trading risks, new developments, and market conditions. Ensure adherence with Bank's risk appetite and the business mandate.
  • Partnership with Trading – Engage trading groups in a proactive manner to promote open communication between risk and trading. Escalate trading issues and work effectively with the trading desk.
  • New Deal, Product & Limit Adjudication – Management, review, and adjudication of new Credit TRS transactions as well as amendments on a timely basis. Make recommendations to MRMPC on new limit requests, including proposing new limits according to the Bank's risk appetite.
  • Data Analytics – Actively involved in deal structure stage to ensure the model run captures the deal terms accurately and the deal stays within bank's risk appetite. Participate in extracting insight from risk and market data through analytic techniques and data visualization tools (e.g. Python and Tableau).
  • Daily oversight of daily risk sensitivity monitoring, weekly risk measures and portfolio review, collateral management, non-disapproval of underlying assets and review of the RTDMS (comprehensive deal monitoring system) for Credit TRS transactions.
  • Valuation – Ensure self-governing price verification is performed in accordance with policies and advice on appropriate valuation reserve adjustments in accordance with Bank's policies. Assist in maintaining Official Rate Source Document (ORSD) and Valuation Reserve Summary (VRS) for covered products. Identify risk taking activities and valuation issues through oversight of daily P&L attribution analysis.
  • Communication – Socialize regularly with Trade Floor Risk Management (TFRM) on trading activity, trading risk profile, trader sentiment and market developments in covered businesses.
  • Collaborate with global TFRM teams to ensure there is consistency in risk management approach. Collaborate with Product Control, back office, MRM and other Bank stakeholders to achieve common objectives.
  • Regulatory & Audit – Participate in external and internal audits and align resolution of findings and participate in key regulatory initiatives (e.g. FRTB, Volker).
  • Other Risks--Manage the hedge fund Credit TRS portfolio according to policies/guidelines/limits established by the MRMPC. Highlight any issues or gaps which may give rise to market risk, counterparty credit risk, reputational risk, liquidity risk or operational risk.
  • Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • 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; informing vison/values/business strategy; and, managing succession and development planning for the team.

Job Requirements:

  • Quantitative Undergrad (eg. finance, mathematics, statistics, and engineering) plus Masters preferred. Progress towards or completion of CFA/FRM/PRM an asset.
  • 4 years or more experience in counterparty credit risk or market risk management.
  • Advanced computer skills (coding skills including VBA, Python, SQL and Unix shell scripts).
  • Deep understanding of financial markets, risk analysis and derivatives valuation. Working knowledge of high yield loan and bond markets is an asset.
  • Strong knowledge of/experience with traded products and ISDA documentation ideally related to Credit Derivatives
  • Excellent written and verbal communication.
  • Ability to work in a fast paced environment and to multi-task and prioritize appropriately.
  • Exceptional problem-solving skills.
  • Great team player with strong personal skills.

Location(s): Canada : Ontario : Toronto

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.

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