Manager, Counterparty Market Risk - 6 Month Contract

Requisition ID: 219128

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

The Counterparty Market Risk (CMR) team is responsible for identifying and assessing key market risks impacting counterparty exposures. Utilizing analytics and customized tools, CMR provides a risk management overlay that highlights tail and concentration risks, leveraging market risk measures at the counterparty level to challenge both the business and credit risk. The team effectively integrates inputs from credit and market risk teams to ensure comprehensive counterparty risk assessment.

The ideal candidate will possess strong quantitative and statistical analysis skills, with a keen interest in financial products, derivatives, and risk management. This individual will play a crucial role in enhancing the Bank’s Counterparty Credit Risk (CCR) analytics and stress testing processes, thereby providing valuable insights to the CCR risk team, business lines, and senior management regarding CCR for Securities Financing Transactions (SFT) and Over the Counter (OTC) businesses. The candidate will be actively engaged in discussion and collaboration with business lines, GRM Credit teams, Capital Market Stress Testing, Market Risk Measurement, Trade Floor Risk Management, Global Risk Technology and CCR team. Computational and numerical skills are important assets as are strong written and verbal communication skills.

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

1. Design and Implement CCR Dashboards:
   • Identify Key Metrics: Determine the most important metrics for CCR analytics, monitoring, and reporting.
   • Data Integration: Ensure data from both SFT and OTC  businesses are integrated into the dashboard.
   • Visualization Tools: Use Power BI to create interactive and user-friendly dashboards.
   • User Access: Define user roles and access levels to ensure the right people have access to the right information.
2. Develop Weekly CCR Stress Testing Reporting and Monitoring:
   • Top Stress Scenarios: Compile the weekly stress report based on top stress scenarios for each facility and/or counterparty level. Highlight specific asset classes with risk concerns.
   • Automation: Automate the data collection and reporting process to ensure timely and accurate reports.
   • Review Process: Present weekly report at weekly review with SFT businesses and document action plans and report overruns.
3. Design CCR Stress Testing Investigation Tools:
   • Tool Selection: Mainly develop tools in PowerBI or utilize python and spreadsheet outside of PowerBI to handle the complexity of CCR stress testing.
   • Daily Maintenance: Set up a process for daily maintenance and updates to ensure the tools remain effective.
   • Training: Provide training for stakeholders to effectively use and maintain these tools.
4. Enhance CCR Stress Testing Framework:
   • Accurate Data Sourcing: Ensure accurate margin and haircut information is sourced and integrated into the framework.
   • Bespoke Scenarios: Develop additional bespoke scenarios for asset classes from non-core trading strategies.
   • Continuous Improvement: Regularly review and update the framework to incorporate new data and scenarios.

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

The ideal candidate will be a graduate in a quantitative discipline such as (but not limited to) economics, financial engineering, statistics, physics and engineering, data science, or mathematics, with a strong interest in risk, statistical modeling, research, and data visualization.

Technical skills

• Knowledge of finance, derivative products, market risk and counterparty credit risk measures
• Experience with data analysis in a programming language such as Python or R
• Experience in Unix shell scripting or other scripting languages would be helpful
• Strong work experience with PowerBI

Soft Skills

• Strong written and verbal communication skills
• Exceptional problem-solving skills
• Attention to detail
• Ability to work independently

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
• Hybrid Work Environment
• 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. 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.