Director Market Risk Capital Analytics

Requisition ID: 67970

Join the Global Community of Scotiabankers to help customers become better off.

Purpose
As part of Scotiabank Global Risk Management, the Exposure and Capital Analytics - Market Risk group is at the forefront of managing the Bank's market risk capital and stress testing program in response to current regulatory & market changes and risk management initiatives. The group is responsible for the analysis of market risk exposure, primarily through Value at Risk, for the full suite of traded products.

The Director plays a central role in overseeing ongoing planning, operation, monitoring and enhancement of the market risk capital and analytics framework. Reporting to the Vice President of Exposure and Capital Analytics, He/she will be able to lead a team of highly performing risk managers to meet evolving regulatory changes and business strategies.

The incumbent will ensure that market risk exposure is accurately measured by the Bank's market risk models and explained by the market movements, and trading strategies. This is facilitated by the interaction with other market risk managers across the Bank to implement the development of quantitative and qualitative risk solutions.

Accountabilities

• Ensure that the Bank's market risk capital is accurately measured by ensuring that the Bank's General Market and Specific Risk VaR and Stress Test processes capture all appropriate risk factors and that each financial product is modelled correctly
• Ensure that the Bank's market risk capital processes are subject to rigorous, ongoing validation and analysis by directing the backtesting and reconciliation processes, identifying timing and methodology issues and problems and ensuring their timely resolution
• Oversee, deliver, and maintain business capabilities, vision, and strategic roadmap
• Utilize analytics to understand and communicate effectively the key drivers of market risk capital and stress testing to relevant stakeholders in risk, front office staff, and the Bank's Senior Management
• Oversee and actively participate in the delivery of solutions to meet regulatory requirements, new and ongoing business strategies, and the Bank's strategic technology objectives like enhanced analytics, machine learning, and artificial intelligence
• Continually improve and enhance the market risk capital framework and exposure reporting and analysis in real-time as needs arise
• Aligns strategic goals and objectives with decisions regarding market risk management. Driving key business and IT initiatives through an established strategic roadmap
• Support, mentor, and coach team members for on-going professional development to ensure that individuals and collective team knowledge is current and comprehensive to ensure that outcomes, including decisions and recommendations, are based on a thorough understanding of risk
• Ensure that all processes and procedures are appropriately documented
• Lead and drive a customer focused culture throughout the team to deepen relationships and leverage broader Bank relationships, systems and knowledge
• Identify opportunities for improved efficiency and effectiveness that deliver material business impact. Work with stakeholders to effectively prioritize opportunities
• Understand and apply the Bank's risk appetite and risk culture in day-to-day activities and decisions
• Build a high-performance environment and implement a people strategy that attracts, retains, develops and motivates the team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team
• Influence changes to solutions with viable technological and structural improvements that results in increased productivity with no increase to risk

Relationship Management - Develops and maintains strategic relationships by:

• Establish, build and maintain relationships with internal key stakeholders and departments within Risk and Global Banking;
• Collaborate on and develop proposals including project deliverables while ensuring adherence to quality standards
• Work effectively with a diverse working group, with varying expertise and job levels

Personal Development Leadership - Manages personal (or where applicable "the team's") development to ensure knowledge and skills are continually enhanced by:

• Keep abreast of regulatory standards and business short- and long-term initiatives, and how these may impact market risk capital;
• Contribute to a high-performance environment and develop and motivate self and team mates by fostering an inclusive work environment and sharing of best practices and knowledge;
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions;
• Build a high-performance environment and implement a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vision/values/business strategy and managing succession and development planning for the team.

Dimensions
Span of Control:

• Collaborates directly with various stake holders to understand the business needs.
• Represents Scotiabank in meetings and activities where other financial institutions and departments participate.

Responsible for a team that supports:

• Market risk capital
• Stress testing
• Backtesting
• Bard reporting and Financial disclosures

Scope:
The Director plays a central role in overseeing ongoing planning, operation, monitoring and enhancement of the market risk capital and analytics framework. Reporting to the Vice President of Exposure and Capital Analytics, He/she will be able to lead a team of highly performing risk managers to meet evolving regulatory changes and business strategies.

The incumbent will ensure that market risk exposure is accurately measured by the Bank's market risk models and explained by the market movements, and trading strategies. This is facilitated by the interaction with other market risk managers across the Bank to implement the development of quantitative and qualitative risk solutions.

Education / Experience / Other Information

• Quantitative Undergrad (i.e. finance, mathematics, statistics, physics, or engineering) plus Masters preferred.
• Progress towards/completion of CFA/FRM/PRM an asset.
• Previous working experience in finance. The candidate is expected to have comprehensive knowledge of the full range of financial products, derivatives, and markets.
• Experience with financial modelling is an asset.
• Possess demonstrated track record in strong leadership and strategic influencing capabilities, supported by well-
• developed analytical and strategic thinking competencies.
• Ability to develop and maintain relationships with business leaders to support objectives and influence a diverse group of stakeholders to jointly develop effective and realistic strategies.
• Proven ability to lead/drive rapid and significant change.
• Familiarity with Big Data and machine learning concepts and their application to financial markets is an asset.
• Excellent verbal, written communication, and presentation skills are essential.
• People management experience and coaching skills is required.
• Ability to prioritize and multi-task in a fast-paced environment with daily reporting responsibilities
• Experience with SQL and relational databases is an asset.

Working Conditions
Work in a standard office-based environment; non-standard hours are a common occurrence.

Location(s): Canada : Ontario : Toronto
As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. 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.

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