Asset Liability Management and FX Strategy

Scotiabank; Toronto; On-site; CAD 90,000 - 120,000; Full time

Job summary

A leading bank in the Americas is seeking an Associate Director for Asset Liability Management and FX Strategy in Toronto. The role involves developing a comprehensive framework for interest rate and FX risk management, alongside collaboration with various stakeholders in Finance and Reporting. Candidates should have a Master’s/PhD in relevant fields and over 5 years of experience in Asset Liability Management. The role offers competitive compensation and a culture focused on inclusion and development.

Benefits

Performance bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from day one

Career development opportunities

Qualifications

• 5+ years of experience in Asset Liability Management, Financial Analysis, or Market Risk.
• Deep understanding of banking book products and interest rate derivatives.
• Excellent verbal and written communication skills.

Responsibilities

• Enhance the Bank’s structural interest rate risk management framework.
• Develop FX hedging strategies and maintain reporting models.
• Collaborate with multiple stakeholders in Finance & capital management.

Skills

Finance or Economics knowledge

Data management proficiency

Analytical skills

Communication skills

Education

Masters/PhD in Finance, Business, Engineering, Applied Mathematics, Computer Science, or Economics

Tools

Excel (VBA)

Bloomberg

Python

MATLAB

SQL

Job description

Title: Asset Liability Management and FX Strategy

Requisition ID: 242698. Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Balance Sheet Management (BSM) within Group Treasury, is responsible for developing policies and strategic framework for the Bank’s Structural Interest Rate Risk (SIRR) and Structural Foreign Exchange Risk (SFER). This team plays an active role in developing and implementing initiatives to manage dynamic balance sheet exposures due to embedded optionality and customer behaviors. As Asset Liability Management (ALM) strategies involve use of both on and off-balance sheet products, which can entail significant complexity, this team acts as a central point of contact for developing and operationalizing processes by collaborating with multiple stakeholders in Finance, Risk, Accounting policy, capital management, Hedge accounting etc. The team is also responsible for developing Foreign Exchange (FX) hedging strategies, exposure tracking, reporting to senior management and various bank Asset & Liability committees (Alco).

Reporting to the Director, Balance Sheet Management, the Associate Director will be responsible for developing and maintaining a comprehensive framework for structural interest rate and foreign Exchange risk management.

Is this role right for you? In this role, you will:

• Workwith internal systems and data to enhance the Bank’s structural interest rate risk management framework to facilitate the assessment of potential opportunities and risks
• Synthesize complex technical information and present high quality and impactful presentations for senior management and various ALCO’s
• Workwith multiple stakeholders in Finance & capital management to enhance and maintain the Bank’s daily Earnings and ongoing capital FX risk management framework and reporting.
• Maintain and enhance balance sheet and FX risk reporting models to support hedging decisions
• Research and develop tools to facilitate tracking of mortgage commitments, customer behaviour, deposit optionality and support daily hedging processes.
• Complete ad-hoc projects as assigned, particularly related to assessing interest rate risk in the banking book and impact across the different business lines and to the Bank’s bottom line
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions
• Lead and drive a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Create an environment in which their team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.

Do you have the skills that will enable you to succeed? We’d love to work with you if you have experience with:

• Masters/PhD in Finance, Business, Engineering, Applied Mathematics, Computer Science or Economics
• 5+ years of experience in Asset Liability Management, Financial Analysis, Capital Market and/or Market Risk related function areas
• Deep understanding of banking book products, fixed income and interest rate derivatives, global markets, hedging strategies, and hedge accounting
• Strong proficiency in data management is required. Programming capability in Excel (VBA), Bloomberg, Python, MATLAB or SQL is highly desirable.
• The focus and ability to reconcile ongoing reports, explaining short term differences and identifying long term trends
• Experience in capital markets products as well as comprehension of trading concepts and strategies
• The ability to take initiative, work independently and collaborate with multiple partners and stakeholders
• Excellent verbal and written communication skills, with the ability to understand and explain the relationship and constraints between risk management, balance sheet optimization, accounting treatment and capital
• Expert understanding of interest rate derivatives in valuation, risk management and funds transfer pricing application
• Superior analytical and quantitative skills
• Attention to detail and focus on accuracy

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
• You’ll be part of a diverse, collaborative, innovative, and high-performing team
• We offer a competitive rewards package:
• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching
• Health Benefits from day one!
• You will relish work-life balance, team events, and opportunities to participate in the community.
• Your career matters! You will have access to career development and progression opportunities.

Location(s): Canada : Ontario : Toronto

Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

At Scotiabank, 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. 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.