Senior Manager, U.S. Trade Floor Risk Management, Global Risk Management

Purpose

The Trade Floor Risk Management role will be to monitor the risks generated by all Mortgage Trading desks in the U.S. including Agency MBS/TBA’s, CMO’s, Non-Agency RMBS, as well as Whole Loan Trading. The risk manager will be part of a team co-located on the trading floor, working closely with other product specialists. The role will also include interfacing with the Houston-based mortgage lending and origination teams as the business expands. The role will also include opining on the suitability of certain mortgage collateral types as well as haircuts that the Repo desk will be financing with the bank’s clients.

Accountabilities

• Produce Mortgage 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.
• Drive a customer-focused culture that deepens client relationships and leverages broader Bank relationships, systems and knowledge.
• Create an environment in which the team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and other policies.
• Assist in the training and development of junior members of the team, which includes putting direct reports in situations where they can present transactions and gain visibility within the organization.
• Effectively communicate with senior management, head office and the relevant Risk Committees to ensure proper risk management and sound corporate governance across the SBUS operations.
• Represent TFRM when necessary at the global Market Risk Management Policy Committee.
• Participate in, and assist with, internal audits, regulatory reviews, and projects.