Associate Director, ALM Analysis & Model Operations

Scotiabank; Toronto; On-site; CAD 120,000 - 150,000; Full time

Job summary

A leading Canadian bank is seeking an Associate Director for ALM Analysis & Model Operations in Toronto. The role involves developing high-performance models and analytical tools to support the Treasury unit. Ideal candidates will possess a graduate degree, strong technical skills in quantitative finance, and at least 5 years of experience in the financial industry. This position offers a collaborative environment with opportunities for professional development and competitive rewards.

Benefits

Performance bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from day one

Qualifications

• Minimum of 5 years experience in financial institutions with a focus on interest rate products.
• Expert knowledge in quantitative financial modeling.
• Strong technical skills in programming and data analytics.

Responsibilities

• Develop models for balance sheet forecasting and interest rate risk management.
• Collaborate with teams on analytical solutions and methodologies.
• Supervise and coach junior staff.

Skills

Programming skills

Interest rate market knowledge

Data management software

Analytical skills

Communication skills

Problem-solving skills

Education

Masters in Business, Financial Engineering, or related field

Undergraduate in Physics, Engineering, or Computer Science

Tools

Python

MATLAB

SQL

Visual Basic

Job description

Requisition ID: 245095 Join a purpose driven winning team, committed to results, in an inclusive and high‑performing culture.

The role:

Be part of a dynamic and innovative analytics team where you will be directly involved in developing high‑performance models and analytical tools that support traders, strategists, and senior management in Scotiabank’s head office Treasury unit. The Balance Sheet Management area brings together fresh ideas and perspectives to the projects we work on. Working within a top‑tier Canadian bank treasury unit, you will be in a unique position to learn all aspects of how the bank operates and your contributions will directly be used to provide truly valuable insights into management of the bank’s balance sheet and structural interest rate risk (SIRR).

As part of its mandate, Group Treasury manages the bank’s liquidity and structural interest rate risk. As Associate Director, ALM Analysis & Model Operations, the incumbent will be responsible for development of in‑house built models, methodology frameworks, and analytical solutions that support Group Treasury’s hedging, portfolio analytics, and balance sheet forecasting models.

The Associate Director, ALM Analysis & Model Operations position is ideal for someone who possesses a graduate degree (MBA or equivalent) together with a strong technical background from a quantitative field, plus previous experience working in the financial industry. The successful candidate must have expert knowledge of quantitative financial modeling and the fixed income space with solid knowledge of interest rate market dynamics. The candidate will also bring a strong technical skillset with working experience using multiple programming languages and data management software. The ideal candidate will have a minimum of 5 years prior work experience within the field of quantitative finance.

The candidate thrives in a collaborative team environment, building and enhancing internal relationships with partners in Trading, Technology, and Risk Management. He/she must be able to multi‑task and demonstrate an ability to identify process improvement opportunities.

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

• Formulate, propose, and communicate with team members on structural interest rate risk methodologies on a product level and business line basis.
• Maintain, source, and develop resolutions for analytical data used by the Treasury model development, trading, and analysis teams.
• Utilize, run, and test sophisticated quantitative tools for balance sheet management and interest rate risk management and hedging purposes.
• Work closely with market‑facing, risk management, and finance teams on the various analytical, reporting and exposure measurement issues.
• Collaborate with peers on designing high level solutions strategy, and assisting in completing cost/benefit analysis.
• Assist the team in proposing and communicating to management and business units on potential changes to products for ALM methodologies on both product‑by‑product and portfolio basis.
• Be a pro‑active team player, who demonstrates leadership skills and accountability, and can efficiently deliver projects according to pre‑agreed timelines and within budgetary constraints.
• Responsible for maintaining and improving the efficiency and accuracy of automated processes that support balance sheet forecasting models and provide analytics to senior stakeholders.
• Be a champion on the team for creating and maintaining very high standards and control protocols for process efficiency, accuracy and delivering timely analytics to end users, and implementing error‑checking and reconciliation processes to ensure accuracy within the team’s analytics.
• Supervise, coach, and review work submitted by junior staff.
• Apply industry/technical knowledge to provide solutions that increase business results and/or minimize risk regarding the integration across multiple systems.
• Provide timely analysis of balance sheet exposures and what‑if scenario testing.
• Write, implement, test, and utilize sophisticated quantitative models for hedging and ALM purposes.
• Present to other Treasury colleagues regarding new SIRR analytics and ALM methodology impact testing.
• Build strong partnerships and rapports with multiple Finance and infrastructure units to initiate the review, testing, and final implementation of new ALM analytics initiatives across the Bank.

Do you have the skills that will enable you to succeed in this role? - We’d love to work with you if you have:

• Strong technical knowledge in programming languages and data management software, including MATLAB, Python, SQL, and Visual Basic.
• Advanced level of knowledge of interest rate market dynamics.
• Solid knowledge of financial and management accounting principles.
• Understanding and practical experience in Interest Rate Sensitivities.
• Strong presentation and communication skills, both oral and written.
• Excellent analytical, problem‑solving, conceptualization, and strategic thinking skills.
• Ability to communicate technical and analytical concepts to a broad range of stakeholders.
• Minimum Masters‑level degree in Business, Financial Engineering or another highly technical disciplines (i.e. engineering, physics, or applied mathematics) with an undergraduate degree in physics, engineering, or computer science.
• Minimum 5 years of experience at a financial institution with direct prior work experience in interest rate products, asset liability management, and structural interest rate risk management.
• Previous model development experience and proven ability to assess, interpret, and implement financial theories, concepts, and models.
• Prior experience in computer programming (Python / MATLAB) and development of analytical tools with a solid understanding of statistics, derivatives concepts, as well as interest rate sensitive products would be an asset.
• Strong SQL skills with knowledge and experience in building ALM systems / processes.
• Creative problem solver and strong analytical skills.

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• 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.

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. 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.