Requisition ID: 100963Join the Global Community of Scotiabankers to help customers become better off.
Purpose of Job:
Hedge Funds Risk Management is responsible for credit and market risk adjudication for hedge fund counterparties, as well as transactions with similar risk characteristics. Hedge Funds Credit Adjudication is responsible for credit risk adjudication, providing advice and counsel to our banking partners to make transactions bankable and ongoing monitoring of the credit quality of the Bank’s facilities with hedge fund customers. The team participates in customer due diligence meetings as well as monitoring and reporting for the assigned portfolio of accounts. The team works closely with three business lines – Prime Services, Credit TRS, and Flow Trading, to provide products and services to their hedge fund customers. The incumbent will primarily focus on credit adjudication and monitoring of a portfolio of accounts, in addition to other project work as assigned. The incumbent is expected to have a good understanding of the credit risk management framework, related policies of the Bank, and industry best practices with regards to counterparty credit risk management.
Perform adjudication of credit applications, ensuring material issues are identified through concise commentary, and provide appropriate recommendations. This includes: (i) comprehensive credit evaluation of counter parties to assess and mitigate any investment, business or operational risk, (ii) appropriateness of terms and conditions, exposures, margining, termination events and other covenants for a wide range of facilities including prime brokerage, foreign exchange, interest rate derivatives, repos, and credit total return swaps, and (iii) monitoring of terms and conditions carried out by other groups within the Bank.
Assist and participate in the presentation of credits to senior bank management and the Senior Credit Committee.
Participate in due diligence for hedge fund counterparties, including interviews with their key personnel.
Conduct ongoing monitoring of the credit quality of the portfolio and compile monthly early warnings reports for higher risk clients.
Work collaboratively with other risk teams to ensure thatl all risk considerations are fully addressed.
Documentation of processes, and identify / implement ongoing process enhancements.
Develop a high degree of industry knowledge/expertise and become a trusted advisor.
Prepare monitoring reports for senior management on the overall hedge fund portfolio as well as individual counterparties, assist with preparation of the annual Hedge Funds Industry Report, and other reports as required.
Partner with our banking and business line colleagues to ensure that both market and credit risks are effectively evaluated and mitigated.
3 to 5 years institutional credit experience in a large financial institution.
In-depth knowledge of/experience with credit risk policies, products and processes – ideally with funds and complex securities/derivatives.
Strong P.C. skills (Microsoft WORD, EXCEL), knowledge of Tableau and quantitative computing for finance would be a strong asset.
Excellent interpersonal and communication skills, both written and oral.
Strong time management, planning and organizing skills to manage multiple priorities.
Ability to work in a fast paced environment.
Good understanding of financial markets and capital market products.
M.B.A. or Masters in Finance related disciplines (Economics, Finance, etc) or CFA designation.
Previous Credit Risk or Banking experience required
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.