Senior Manager, Counterparty Credit Risk - Scotiabank, Toronto

Position Summary

As a Senior Manager, Counterparty Credit Risk (CCR) at Scotiabank, you will be a key member of a centralised group responsible for providing critical risk oversight. This role involves managing counterparty credit risk stemming from derivatives and securities financing transactions across the bank's global capital markets businesses. The CCR group identifies signs of credit deterioration, measures, monitors, and reports various metrics associated with counterparty credit risk, escalating exposures that exceed established risk appetite. The successful candidate will also stay current with industry best practices and evolving regulatory expectations.

Day-to-Day Responsibilities

In this dynamic role, your daily activities will involve comprehensive counterparty credit risk oversight, including detailed reporting and analysis. Key responsibilities include:

• Providing independent quantitative and qualitative analysis of counterparty risk and offering insights for risk mitigation, including correlation risks such as wrong-way risk (general and specific), as well as assessing the credit quality of collateral, concentration, and liquidity risks.
• Monitoring exposure of counterparty credit risk arising from OTC derivatives and securities financing transactions.
• Leading and developing two direct reports, including coaching and performance management.
• Acting as an advisor to Credit Officers on distressed counterparties and identifying/analysing leading indicators of emerging risks.
• Providing analysis of market events on portfolio and counterparty risk, supporting Executive-level, Board, regulatory, and other key CCR reporting of counterparty risk.
• Developing strong relationships and interfacing frequently with Management, Credit, Banking, Front Office, and other key stakeholders on various CCR matters.
• Producing ongoing regulatory reporting and contributing to ad-hoc regulatory requests.
• Assisting with managing CCR policies.
• Managing the development of reporting and analysis systems and business intelligence tools.

Who We're Looking For

We are seeking a highly skilled and experienced professional with a strong background in financial risk management. Ideal candidates will possess:

• 5-10 years of direct experience in market risk and/or credit risk of traded products.
• An excellent grasp of counterparty credit risk metrics and their underlying drivers/assumptions.
• Advanced knowledge of derivative products valuation, trading businesses, and markets.
• Proven experience managing and developing high-performing teams in a complex environment.
• Strong communication, quantitative, and analytical abilities to identify issues and effectively debate different approaches with various stakeholders.
• Strategic influencing and relationship-building skills.
• A university degree in a business-related field. CFA/FRM certification is desirable.
• Advanced knowledge of Power BI, Python, SQL, and Unix is an asset.

The Team and Your Career at Scotiabank

Joining Scotiabank means becoming part of a purpose-driven, winning team committed to results within an inclusive and high-performing culture. We offer a supportive environment where you can thrive and grow your career. What’s in it for you:

• The opportunity to join a forward-thinking and collaborative team, surrounded by innovative thinkers.
• A rewarding career path with diverse opportunities for professional development.
• Internal training to support your growth and enhance your skills.
• An inclusive working environment that encourages creativity, curiosity, and celebrates success!
• The tools needed to create best-in-class student candidate experiences.