Requisition ID: 176641

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

Purpose of Job:

• 
  Trade Floor Risk Management (TFRM) is an independent arm of the bank that provides market risk oversight for the bank’s trading, balance sheet and liquidity management activities. It ensures that these activities are in line with bank’s risk appetite by producing detailed and regular risk reports and analysis, creating and monitoring limits, maintaining an active dialogue with the business units and, when required, escalating concerns to appropriate levels of management. TFRM oversee for formalizing regulatory metrics such as those produced as per the Volcker Rule. TFRM oversee the formulation valuation and market risk management policies and is a key stakeholder in monthly/quarterly/yearly valuation processes.
• The TFRM GFI Credit team within the TFRM oversees the GFI Credit and XVA desks within Global Banking and Markets (GBM) whose activities include cash and credit derivatives trading as well as managing of the Credit Valuation Adjustment (CVA), Funding Valuation Adjustment (FVA) and Collateral Valuation Adjustment (ColVA) of the Bank. The team also works closely with other relevant teams covering derivatives trading in rates, credit, FX, Energy and Equity asset classes in locations expanding Toronto, London, New York, Singapore and the Pacific Alliance.
• This is an excellent role for a highly enthusiastic individual aspiring to consolidate a career in market risk management. The successful candidate will have opportunity to deepen his/her understanding of OTC derivative products and related valuation adjustments, and market risk.

Job Responsibilities:

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  Market Risk – Oversee market risk exposures for GFI Credit and XVA desks and convey to TFRM management on trading risks, trader sentiment and market conditions. Help ensure adherence with Bank’s risk appetite and the business' mandate. Review daily P&L, risk and limit reports, and engage in discussions with the global team and trading management as appropriate.
• Partnership with Trading – Engage trading groups in a proactive manner to promote open communication between risk and trading.
• Limit Adjudication – Review and make recommendations to TFRM management on limit change requests.
• Communication – Convey regularly with TFRM management on trading activity, trading risk profile, trader sentiment and market developments in covered businesses. Collaborate with other Bank and GRM stakeholders to achieve common objectives.
• Regulatory & Audit – Participate in external and internal audits and resolution of findings and participate in key regulatory initiatives (e.g. FRTB).
• Technology – Participate in enhancement / upgrade of production and risk systems as needed (e.g. Tableau, Python etc.)

Job Requirements:

• 
  Experienced with fixed income and market risk related to OTC derivative products including credit exposure and mitigants, funding costs, etc.
• Strong mathematical and problem solving skills with the proven record of creativity and innovation.
• Solid understanding of risk measurement concepts and methodologies such as DV01, CS01, FRTB, Stressed Testing, VaR etc.
• Ability to lead and manage projects independently while collaborating with different stakeholders.
• Proficiency at integrating and preparing large varied datasets. Experience in the use of data analysis, reporting and visualization tools, e.g. Tableau.
• Excellent work ethic and communications skills with a focus on collaboration and team work and suited for a fast-paced trade floor environment.
• Undergraduate degree (e.g. finance, mathematics, statistics, and engineering) plus Masters preferred (e.g. MFE, MMF, or MBA).
• Progress towards or completion of FRM/PRM/CFA an asset.
• Programming and data visualization experience, e.g. VBA, Python, Tableau.

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.