Manager Trading Risk
3 days ago
Requisition ID: 184765
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
**Purpose of Job**:
The Manager in TFRM Latin America is primarily focused on providing market risk oversight for Scotiabank's capital market operations in Latin America and the Emerging Markets desk, ensuring all positions and their inherent key risks are properly identified, quantified, monitored, and reported.
Other activities include creating periodic reports, developing tools to improve the team's risk oversight, reviewing the risk framework of the different jurisdictions, assessing data quality, ensuring information integrity, and implementing technology-related projects.
The Manager will assist the Senior Manager with timely risk assessments and updated information to improve the discussions with the senior management across different areas and jurisdictions, as can provide recommendations on market risk-related initiatives across the region; written and oral presentations are done on a regular basis to senior executives.
**Responsibilities**:
- Relationship Management: Develop and maintain effective relationships with multiple stakeholders to assist the implementation of value-added initiatives.
- Market Intelligence/Proactive Analysis: Maintain regular dialogue with business lines and control functions with respect to financial market developments and risk matters, including changes in risk profile and P&L drivers.
- Maintain a constant update about the local framework regulations regarding Risk Management matters.
- Responding to Requests/Events: Facilitate effective risk-reward decisions by providing an informed and independent opinion on new business initiatives including calibrating risk limits in alignment with the Bank’s risk appetite framework.
- Communication: Distilling daily risk/market information into highlights, ensuring material issues are timely informed to stakeholders and senior management.
- Identify and assess the market risks taken by the units we cover and ensure their consistency with the Bank’s risk appetite and approved business mandate.
- Self-initiated behavior that endeavors to propose and execute solutions to daily challenges and tasks.
- Run daily processes within deadlines (e.g., reports, analysis, etc.) and identify process improvement opportunities. Contribute to the testing and development of new tools to automate risk processes across different jurisdictions
- Advise and assist International Subsidiaries in the development of their risk management framework in line with the Bank’s standards for market risk management (e.g., Valuation Reserves, IPV, Interest Rate Sensitivity, Stress Testing, XVA Management, FRTB etc.)
- Monitor events in international financial markets/industry, assist in identifying new and emerging trends, track and summarize new regulatory initiatives and changes.
- Foster an inclusive work environment and build a high-performance environment that promotes the development and motivation of the team.
**Job Requirements**:
- Quantitative Undergraduate (e.g., Economics, Finance, Mathematics, Statistics, Engineering, etc.) with a master’s degree (e.g., MSc, Master of Finance, Master of Risk Management, etc.).
- 1+ years of experience in market risk related to Interest Rates derivatives and/or FX derivatives is required.
- Strong Knowledge of market risk management processes and metrics is required.
- Knowledge of capital markets in Latin America is desirable. Knowledge of Spanish is an asset.
- Strong business acumen and excellent knowledge of fixed income and derivative products (e.g., interest rate swaps, Cross Currency Swaps, foreign exchange, CDSs, FX/IR Options etc.) as well as good quantitative/modeling skills to assess associated risks.
- Strong communication skills are critical as there is close interaction with Traders and Local Risk Management teams.
- Knowledge of xVA risk management and FRTB are an asset.
- Strong writing skills are critical as one of the end products is normally written communication presenting key issues and recommendations to different risk committees.
- Proficiency using programming languages skills and knowledge in data visualization tools (i.e., Tableau, PowerBI) are an asset.
- Curiosity and creative problem-solving skills are an asset.
- Self-learning and self-management skills are an asset.
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.
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