Requisition ID: 101394Join the Global Community of Scotiabankers to help customers become better off.
Purpose of Job:
The Liquidity and Interest Rate Risk (L&IRR) group provides independent oversight of the Banks liquidity risks, structural balance sheet risks (IRR, FX, Investment and Liquidity portfolios) and of the hedging strategies executed by Group Treasury and other treasury units.
The Director will focus on identification, measurement, required reporting and oversight of Trading Risk in GT. This includes the Liquidity book (Fixed Income and Equity Book of the Bank), non-BSM hedging, Money Market Funding Desks, and execution of B/S hedging strategies
Partner with Group Treasury to establish and maintain a risk appetite framework that is aligned with the Bank’s risk tolerance, and in line with GT’s strategy. Review, challenge and discuss day to day Trading Strategies.
Lead the continuous development, enhancement and review of consistent trading related metrics, models (VaR/ stressed VaR, Expected Shortfall), IPV, and governance for GT trading operations.
Oversight for the production of timely and accurate reports highlighting key risk metrics and measurements for stakeholders including: The Board (quarterly); ALCO and MRMPC (monthly); external – OSFI and public disclosure (quarterly and monthly as needed); Senior Management TFRM and GT (monthly consolidated reporting, weekly/daily position updates and activity).
Adjudicate and monitor risk limits for GT to ensure that future activity is fully accounted for within the current limit structure.
Play a key role in the future development and improvements in the Banks risk and data systems. Oversight for and participation in key projects such as RDARR, FRTB, and continued development of all supporting tools in the area.
Build and maintain collaborative relationships with our key business partners in order to facilitate business growth and efficiency. This includes providing advice on funding related issues (FTP Policy), development of reports on performance and benchmarking, and establishing and maintaining a risk/return framework for GT trading activities.
Represent the Bank’s interests in a professional manner in all communications with internal stakeholders (i.e. Audit) and external stakeholders including OSFI and the CBA. Represent Scotiabank as a member in CBA when required on interpretation of new regulations.
Manage, lead and develop a team of engaged risk professionals. Continuously look to develop team members through offering diverse roles or suggesting involvement in special project work.
Represent Scotiabank in industry conferences as appropriate.
Ad hoc analysis and special projects as requested by Senior Management.
Must have a Masters in business/finance
Understanding of statistical / mathematical modelling and application in trading.
CFA and/or FRM preferred.
Up to date with respect to Regulatory guidance (RDARR, IRRBB, FRTB, Dodd Frank Act / Volcker Rules, OSFI B-12 & E-18).
Eight to ten years experience in Treasury, Trading Risk, ALM and/or Structural FX risk.
Five to ten years of people management experience.
Strong knowledge of financial/capital markets and products and excellent understanding of treasury products, investments, and hedging strategies.
Strong problem solving skills.
Excellent verbal and written communication skills.
Excellent relationship building skills
Strong ability to devise and implement operational frameworks, processes, controls and documentation approaches for a team comprising of highly specialized technical skills.
Seeking a leader that has drive, curiosity, courage, takes ownership, and puts the team first, making things better for the Bank.
Location(s): Canada : Ontario : Toronto
As Canada’s International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Banks six guiding sales practice principles to ensure they act with honesty and integrity.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.