Director, Structural Interest Rate Risk [Scotiabank]

Requisition ID: 180721

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

Purpose Of Job

The Liquidity and Interest Rate Risk (L&IRR) group provides free oversight of the Bank-wide liquidity risks, structural balance sheet risks and of the hedging and investment strategies executed by Group Treasury and other treasury units. The director will assist the Vice President in collaborating with the structural risk management functions (Group Treasury and Finance), in the development,of an appropriate structural and investment risk framework, including metrics, procedure and methodology. Independently supervise compliance with these policies and limits, including as necessary, effective challenge of Group Treasury's positions and strategies. Inform senior management, the Asset-Liability Committee (ALCO), and the Board of Directors, as appropriate, of the structural risk profile of the bank.

The scope of coverage for the group is the consolidated balance sheet, as well as the hedging and investment activities in Group Treasury, and the International Money-Market and Funding desks.

Job Responsibilities

• Direct timely development of best practices analytical techniques for use in the measurement of structural and investment risk.
• Direct the stress testing of the Bank's structural risk exposure.
• Review official SIRR reporting completed by GT
• Lead and develop a team of engaged risk professionals and managers. Continually look to develop team members through offering diverse roles or suggesting involvement in special project work.
• Participate in the Bank's SIRR ALCO Sub-committee as a subject-matter expert. Lead the B-12 Working Group, which provides governance over the proposal and implementation of various parameters, models, and strategies that constitute the ALM function of the Bank.
• Direct the ongoing development of requirements for the structural risk and banking book investment risk management infrastructure and participate in its ongoing development.
• Assess the potential impact of hedging strategies/decisions on the Bank's key risk metrics and expected future NII under different rate scenarios
• Execute the annual review of all related limits for presentation to the MRMPC and, as applicable, Board of Directors within stated timeframes.
• Review and assess the appropriateness of ALM models and parameters which are included in formal risk measurement
• Ensure that structural risks and investment risks in the banking book are appropriately identified, assessed, and informed, as necessary to senior management, the ALCO, and the Board of Directors. Provide regular free reporting on these risks.
• Develop and propose an appropriate structural risk management framework, including metrics, procedures and methodology. Disclose exposures compared with risk appetite with an executive level audience including the Bank's Market Risk Management and Policy Committee (MRMPC), ALCO, the Board of Directors.
• Complete special projects and analysis as requested by senior management.
• Provide advice and counsel on the foregoing to international units.

Job Requirements

• Excellent verbal and written communication experience
• Knowledge of financial/capital markets and products
• Project management experience.
• Excellent communication experience
• CFA/FRM designation is an asset
• Strong track record of team building and development experience
• Direct asset liability management/structural risk management experience
• Strong quantitative and problem solving experience.
• Understanding of treasury products and investments strategies.

Knowledge of regulatory environment

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.