Manager, Trading Risk

Requisition ID:

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

The Manager in TFRM Latin America is primarily focused on providing market risk oversight for Scotiabank's capital markets operations in Latin America and the Emerging Markets desk. This role is critical in ensuring that all trading positions and their associated risks are effectively identified, measured, monitored, and reported in alignment with the Bank's risk appetite and regulatory requirements.

We are looking for a candidate who thrives in a collaborative team environment, building and enhancing relationships with partners in Trading, Risk Management, and Technology in Canada and across the Pacific Alliance (Chile, Colombia, Mexico, Peru) and Brazil.

Other activities include, designing 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 support 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.

Is this role right for you? In this role, you will:

• Market Intelligence/Proactive Analysis: Maintain regular dialogue with key stakeholders with respect to financial market developments and risk matters, including changes in risk profile/appetite (Risk profile, VaR and Stress Testing), capital implications and P&L drivers.
• Responding to Requests/Events: Facilitate effective risk-reward decisions by providing an informed and independent opinion on new business initiatives including risk profile and overall risk appetite limits in alignment with the Bank's risk appetite framework.
• Communication: Distilling daily risk/market information into highlights, ensuring material issues are timely communicated to stakeholders and senior management.
• Self-initiated behavior that endeavors to propose and execute solutions to daily challenges and tasks. identify process improvement opportunities and contribute to the testing and development of new tools to automate risk processes across different jurisdictions
• Prepare and conduct relevant analysis of desks' recurring risk limit reports, Value at Risk (VaR), and Stress Testing results, along with other periodic regulatory submissions, ensuring alignment with the Bank's defined risk appetite and approved business strategy
• Advise and support 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, Interest Rate Sensitivity, Stress Testing, XVA Management, FRTB etc.)
• Collaborate with other groups across the Bank to deliver consistent application of the Bank's standards or best industry practices across international markets. Be a team player who is willing to take on more responsibilities as part of his growth in the role and/or team.
• Monitor events in international financial markets/industry, assist in identifying new and emerging trends, track and summarize new regulatory initiatives and changes.

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:

• Quantitative Undergraduate (e.g., Economics, Finance, Mathematics, Statistics, Engineering, etc.). Master's degree (e.g., MSc, Master of Finance, Master of Risk Management, etc.) or CFA and/or FRM certifications are considered strong assets.

• Strong knowledge of market risk management processes is required (VaR and Stress Testing). Understanding of xVA risk management and Market Risk Capital under FRTB are an asset.

• Knowledge in Latin America capital markets is desirable.

• Bilingual (English/Spanish) required.

• Strong business acumen complemented by deep expertise in fixed income and derivative products (e.g., interest rate swaps, Cross Currency Swaps, foreign exchange, CDSs, FX/IR Options etc.) as well as well-developed quantitative/modeling skills to analyze complex risk exposures across these asset classes

• Outstanding communication and writing skills to deliver high-impact reports and executive summaries to key stakeholders such as Traders, Local Risk Management teams and risk committees.
• Proficiency using analytical and programming languages skills such as SQL, VBA, and Python, and hands-on experience in PowerBI/Tableau is required
• Curiosity and creative problem-solving skills are an asset.
• Self-learning and self-management skills are an asset.

What's in it for you?

• We have an inclusive and collaborative work environment that values curiosity & ownership, encourages pragmatic creativity (i.e. true innovation), and celebrates success
• An inclusive working environment that encourages creativity, curiosity, and celebrates success
• A rewarding career path with diverse opportunities for professional development
• Internal training to support your growth and enhance your skills
• A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision and dental benefits that start from day one and much more

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. 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.