Director, Asset Liability Management
12 hours ago
Requisition ID: 206282
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Interested in creating a safer financial world to prepare for the next financial market crisis? – Join us
As part of the Market Risk team, we are an established leader in risk methodologies with many awards and several firsts in the Canadian banking sector. We prepare Scotiabank for the adoption of new regulatory and industry-wide initiatives and guide modelling effort for both Interest Rate Risk in the Banking book (IRRBB) and the Fundamental Review of the Trading Book (FRTB).
Is this role right for you?
As the Director of the Asset Liability Management (ALM) Modelling team at Scotiabank, you will oversee the Bank’s ALM model methodology and development for the Bank’s IRRBB and Internal Capital Assessment processes.
This position provides an opportunity for a Senior Manager or Director with extensive experience in financial, market risk, ALM or retail modelling to lead bank-wide initiatives related to modelling interest rate risk in the banking book. These are high-profile models which receive considerable attention from senior management and provide key inputs for managing interest risk in the retail portfolio and banking book.
In this role, you will:
- Lead a team of six-eight quantitative modelers responsible for the design, development and support of the Scotiabank’s Asset and Liability Models for Interest Risk in the Banking Book (IRRBB) and Internal Capital assessments.
- Contribute to a high-performance environment in a highly diverse team, develop and motivate team members by fostering an inclusive work environment and sharing of best practices and knowledge.
- Lead bank wide initiatives and provide stakeholder and business support related to all ALM modelling questions.
- Provide ownership over the bank’s main ALM models including:
- Develop new ALM models to support business and group treasury in a growing range of retail products, customer options and management approaches to manage the associated interest rate risk.
- Support changes and enhancements to ALM models to be in the forefront of evolving industry standards.
- Support regular reporting and model parameter updates for financial and risk management.
- Drive the Bank’s internal risk management practices and policies and collaborate with stakeholders in Group Treasury, Liquidity and Interest Rate Risk Management teams, International Banking, Finance, and Business lines.
Relationship Management - Develops and maintains strategic relationships by:
- Establishing, building and maintaining relationships with internal key stakeholders and departments within Risk and Group Treasury.
- Collaborating on and developing proposals including project deliverables while ensuring adherence to quality standards.
- Working effectively with a diverse working group, with varying expertise and job levels.
Personal Development Leadership - Manages personal (or where applicable “the team’s”) development to ensure knowledge and skills are continually enhanced by:
- Keeping abreast of regulatory and industry standards and business short- and long-term initiatives, and how these may impact ALM modeling.
- Contributing to a high-performance environment and developing and motivating self and team members by fostering an inclusive work environment.
- Understanding how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Building a high-performance environment and implementing a people strategy that attracts, retains, develops and motivates their team.
- Conducting staff hiring, mentoring, career development planning, succession planning and performance reviews.
Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
- Working experience in financial engineering, financial modelling, or risk modelling, specifically in market risk or structural interest risk areas.
- Advanced degree (Master’s, MBA, or PhDs) in a mathematics, economics, or scientific discipline.
- Effective communication skills, with the ability to summarize complex ideas in simple terms.
- Background in code development and programming in Python and/or other formal programming languages.
- People management experience in coaching, mentoring, and leading a diverse and inclusive quantitative team.
What’s in it for you?
- The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
- A rewarding career path with diverse opportunities for professional development.
- Internal development to support your growth and enhance your skills.
- A competitive compensation and benefits package.
- An organization committed to making a difference in our communities.
- An inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success
This position is located Downtown, Toronto.
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.
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.
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