Manager, Counterparty Credit Risk - Scotiabank, Toronto

AI Summary

This role at Scotiabank in Toronto, Ontario, is for a Manager, Counterparty Credit Risk. The incumbent will be a key member of the CCR group, providing risk oversight for counterparty credit risk arising from derivatives and securities financing transactions globally. Key duties include exposure monitoring, contributing to emerging risk analysis, and supporting crucial reporting functions. Successful candidates will possess at least three years of experience in market or credit risk of traded products, alongside knowledge of derivatives and counterparty credit risk.

About the Manager, Counterparty Credit Risk Role

As a Manager within Scotiabank's Counterparty Credit Risk (CCR) group, you will play a pivotal role in ensuring robust risk oversight for the capital markets businesses. This centralized function is responsible for identifying potential signs of credit deterioration within the trading product portfolio, diligently measuring, monitoring, and reporting a variety of metrics specifically associated with counterparty credit risk. A crucial aspect of this position involves escalating exposures when they exceed established risk appetite thresholds. The role demands continuous attention to industry best practices and evolving regulatory expectations to maintain a proactive risk management posture. You will contribute significantly to the ongoing processes that identify leading indicators of emerging risks, providing essential support for comprehensive emerging risk analysis. Furthermore, you will contribute to both the quantitative and qualitative analysis of counterparty risk, offering valuable insights for effective risk mitigation strategies, including complex correlation risks such as wrong-way risk, as well as assessing the credit quality of collateral, concentration, and liquidity risks. Building strong relationships and frequently interfacing with Management, Credit, Banking, Front Office, and other key stakeholders on various CCR matters will be essential for success in this dynamic environment.

Skills and Experience for Success

To excel as a Manager, Counterparty Credit Risk at Scotiabank, candidates should possess a solid foundation of experience and a keen understanding of financial markets. A minimum of three years of experience in market risk and/or credit risk of traded products is required, demonstrating practical exposure to the complexities of the field. Essential knowledge of derivatives products and familiarity with counterparty credit risk principles are fundamental to this position. Strong written and verbal communication skills are paramount for effectively conveying complex risk assessments and collaborating with diverse internal and external stakeholders. A university degree in a business-related field is a prerequisite, with CFA or FRM certification being a desirable asset that would further enhance your profile. While not strictly required, advanced knowledge of tools such as Power BI, Python, SQL, and Unix would be a significant asset, supporting the development of reporting and analysis systems and business intelligence tools. This role offers the opportunity to contribute to Board, regulatory, and other key CCR reporting, making these technical skills highly valuable.

Career Growth at Scotiabank

Joining Scotiabank means becoming part of a forward-thinking and collaborative team, surrounded by innovative thinkers dedicated to achieving results within an inclusive and high-performing culture. This role presents a rewarding career path with diverse opportunities for professional development, allowing you to grow your expertise in counterparty credit risk management. Scotiabank is committed to supporting your growth through internal training programs designed to enhance your skills and knowledge. The bank fosters an inclusive working environment that actively encourages creativity, curiosity, and celebrates success, providing a supportive backdrop for your professional journey.