Senior Manager, Trade Floor Risk Management (Foreign Exchange) [Scotiabank]

Requisition ID: 178186

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

Purpose Of Job

• Facilitate effective communication between risk and trading management teams across various centers in which the business operates (Toronto/London/New York).
• Ensure that market risks in the Global FX trading businesses are acknowledged, controlled and reported in accordance with Bank policies and risk appetite.
• Work in close collaboration with the business line as a valued partner by identifying key risks and assessing market conditions.
• Review business line proposals for new products and limit changes and make recommendations to senior management.

Job Responsibilities

• Market Risk – Oversee market risk exposures for covered businesses and convey to Senior Risk Management, Senior Trading Management and MRMPC on trading risks, trader sentiment and market conditions. Ensure adherence with Bank's risk appetite and the business mandate. Produce and review daily risk and limit reports, and engage in discussions with the business as appropriate.
• Partnership with Trading – Engage trading groups in a proactive manner to promote open communication between risk and trading. Escalate trading issues and work effectively with senior trading management.
• Communication – Convey regularly with TFRM management on trading activity, trading risk profile, trader sentiment and market developments in covered businesses. Collaborate with global TFRM teams to ensure there is consistency in risk management approach. Collaborate with other Bank and GRM stakeholders to achieve common objectives.
• New Product & Limit Adjudication – Review new product proposals and make recommendations to MRMPC on limit requests, including proposing new limits according to the Bank's risk appetite.
• Data Analytics – Participate in extracting insight from risk and market data through analytic techniques and data visualization tools (e.g. R, Python, Tableau, PowerBI).
• Valuation – Ensure self-governing price verification is performed in accordance with policies and advise on appropriate valuation reserve adjustments in accordance with Bank's policies. Assist in maintaining Official Rate Source Document (ORSD) for covered products. Identify risk taking activities and valuation issues through oversight of daily P&L attribution analysis.
• Regulatory & Audit – Participate in external and internal audits and collaborate resolution of findings and participate in key regulatory initiatives (e.g. FRTB).

Job Requirements

• Proficiency at integrating and preparing large, varied datasets. Experience in the use of data analysis, reporting and visualization tools, e.g. Tableau.
• Ability to manage projects independently while collaborating effectively with different stakeholders.
• Excellent work ethic and communications skills with a focus on team work and suited for a fast-paced trade floor environment.
• Strong understanding of market risk principles related to OTC derivative products including credit exposure and mitigants, funding costs.
• True passion for capital markets and risk management.
• Understanding of risk measurement concepts such as VaR, stress examining, DV01 etc.
• Strong analytical and problem solving skills with the established record of creativity and innovation.

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.