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Senior Manager, US Counterparty Risk

Scotiabank - Global Banking and Markets · New York, NY · 2 wk ago
SalesFull-time

Employee Referral Program – Potential Reward: $3,500.00

Salary Range: $120,900.00 - $231,400.00 (guideline only; actual salary may vary based on candidate’s relevant knowledge, skills, and experience)

About the Role

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 clients an important bridge to this key global market for trade and investment flows across the Americas and the world.

GBM provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of clients. 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. The team also cross-sells the full range of wholesale products and services offered by the Scotiabank Group.

Purpose

The role will oversee all aspects of Counterparty Credit Risk (“CCR”) emanating from Scotia Capital (U.S.A.) Inc. (“SCUSA”) and Scotia Bank U.S. (“SBUS”). The position takes a leadership role in partnering with Global Banking and Markets (GBM) to ensure sound risk management practices are observed in CCR as it pertains to U.S. booked and managed activity.

Responsibilities

  • Oversee daily and periodic CCR reporting for SCUSA, SBUS, and covered entities, including risk appetite metrics, facility- and counterparty-level Potential Future Exposure (“PFE”), stress breaches, Futures Commission Merchant (“FCM”) deliverables, and month-end and quarter-end reporting requirements.
  • Lead review, approval, and communication of credit risk exposures across Repo, Securities-Based Lending, Prime Services, and OTC derivatives, including exposure trends, utilization changes, concentration risks, and limit or stress breaches.
  • Assess stress scenarios, tail risks, PFE and stress testing models, and related assumptions, limitations, and weaknesses to support proactive portfolio risk identification.
  • Partner with trading groups, system owners, data providers, and CMR to address emerging risk-taking activity, improve reporting timeliness and accuracy, and support review of margin exception requests.
  • Strengthen CCR reporting infrastructure by understanding data and technology flows, enhancing Power BI dashboards and reporting tools, and overseeing production and risk system enhancements that improve controls and efficiency.
  • Support governance, internal audit, and regulatory activities, including FRB requests, remediation of findings, RCSA and CRCA processes, and Clausematch updates for policies, procedures, and frameworks.
  • Promote a high-performance, inclusive team environment through clear communication, succession planning, and talent development.

Reporting Relationships

  • Primary Manager: Director, Head of U.S. Counterparty Credit Risk, US Risk Management, SCUSA
  • Direct Reports: N/A
  • Shared Reports: N/A

Qualifications

  • Bachelor’s or Master’s degree or foreign equivalent in Finance, Mathematics or Statistics, or a related field.
  • Four (4) years of progressively responsible experience in the job offered or related occupation, with preferred experience in:
    • Analyzing large sets of unclean data with bash, Python, and C++.
    • Optimizing risk report generation systems using various software engineering tools.
    • Utilizing knowledge of quantitative finance for mathematical modeling of financial risks.
    • Managing financial risk in market risk and counterparty credit risk.
    • Writing detailed process documentation of newly created and existing systems.
    • Liaising with different stakeholders from front to back office, including externals (auditors, regulators).

Working Conditions

  • Standard office-based environment with hybrid arrangement.
  • Non-standard hours are common.
  • Limited domestic, international, or global travel may be required.

Benefits

Scotiabank offers flexible benefit programs designed to support holistic well-being, including family, financial, physical, mental, and social health needs. The bank is committed to creating and maintaining an inclusive and accessible environment for all employees.

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