Director, U.S. Trade Floor Risk Management

 

 

 

Requisition ID: 200548

 Salary Range: 174,700.00 - 286,000.00 

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

 

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

 

Global Banking and Markets:

 

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. 

 

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.  

 

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future! 

 

Purpose:

 

The Trade Floor Risk Management role will be to monitor the risks generated by the U.S. Structured Credit Business including trading risk, underwriting risk, as well as partnering with Counterparty Credit Risk for Collateral Management/Repo financing risk.  Product types include all forms of CLO’s, ABS products (including auto loans, credit card receivables, etc.), as well as all forms of MBS.

 

The Director will:

 

• Be the primary market risk management lead for the U.S. Structured Credit business. 
• Be responsible for the establishment of risk limits related to all of the Structured Credit businesses, risk reporting, capital calculations under FRTB, breach discussions and remediation, as well as be instrumental in the business review process. 
• Have significant interaction with the front office to solidify a strong cooperative relationship between risk and the front office. This aspect also involves participation in the setting of Volcker metrics for these desks along with advising the desk about the rule.
• Be participating within a much larger risk management team in the U.S., as well as within a global Trade Floor Risk Management effort.  
• Produce significant market risk material and analysis to be used in local and global risk committees, including business risk metrics, top and emerging market risks, as well as risk support and challenge to the various businesses.
• Be presenting and interfacing with the various regulators that oversee the bank including the Fed, OSFI, the DFS, and others.  This will involve working closely with the bank’s Regulatory Relations team.
• Require significant interaction with the Financial Engineering/Modeling team, the Market Risk Model Development team, the Model Risk team, the Data Governance team, as well as the Risk Technology effort.  
• Require an understanding of the modeling effort’s design and capture of the various risk factors generated by all facets of the business. This may require frequent interaction with the Model Risk team to discuss the sufficiency of the risk models used for each business.
• Work closely with other risk partners within the bank including Operational Risk, Compliance, Internal Control, and others within Financial and Non-Financial Risk
   

What You’ll Do:

 

• Produce Structured Credit Trading risk reports with utilizations against limits, and perform breach remediation discussions and resolutions
• Working with the front office, help in establishing and revising the desk limit structures including total notional, VaR, Stress Testing Limits, and other risk sensitivities
• Respond on a daily basis to front office risk needs, questions, and provide challenge to confirm justification for limit change requests
• Participate in the end of month IPV (Independent Price Valuation) process working closely with Product  Control
• Driving a customer focused culture that deepens client relationships and leverages broader Bank relationships, systems and knowledge; 
• Building a high-performance environment and implementing a people strategy that attracts, retains, develops, and motivates their team by