Requisition ID: 222795
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Purpose of Role:

• Ensure that market risks in the Global FX trading businesses are understood, 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.
• Facilitate effective communication between risk and trading management teams across various centers in which the business operates (Toronto/London/New York).

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

• Market Risk – Oversee market risk exposures for covered businesses, primarily in FX options, and communicate to relevant risk committees 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 – Communicate 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. Serve as a primary representative of GRM, providing risk-related business requirements to Technology teams regarding the development of new products/structures, including the validation and testing of results
• Valuation – Ensure independent 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.
• Data Analytics – Participate in extracting insight from risk and market data through analytic techniques and data visualization tools (e.g. MUREX, Tableau, PowerBI, Bloomberg, R, Python).
• New Product & Limit Adjudication – Review new product proposals and make recommendations to risk committees on limit requests, including proposing new limits according to the Bank's risk appetite.
• Regulatory & Audit – Participate in external and internal audits and coordinate resolution of findings and participate in key regulatory initiatives (e.g. FRTB).
• Collaborate with global TFRM teams and other Bank and GRM stakeholders for consistent risk management and common objectives.
• Technology – Participate in enhancement / upgrade of production and risk systems as needed.
• Data - Escalate data deficiencies and model gaps to key stakeholders.
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.

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

• Quantitative Undergrad (eg. finance, mathematics, statistics, engineering) plus Masters preferred. Progress towards or completion of CFA/FRM/PRM an asset.
• 2 years or more experience in financial markets, preferably in market risk management.
• Deep understanding of financial markets, risk analysis and derivatives, with emphasis on FX options.
• Excellent written and verbal communication.
• Ability to work in a fast-paced environment.
• Exceptional problem-solving skills.

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.