Manager, ALM and Options Strategy

Scotiabank; Toronto; On-site; CAD 120,000 - 180,000; Full time

Benefits offered by this job

Annual bonus

Flexible vacation

Comprehensive benefits starting day 1

Job summary

Scotiabank in Toronto seeks a highly analytical Manager to support Structural Interest Rate Risk (SIRR) programs, focusing on non-linear risks and complex derivatives such as swaps,TRS and options.

The role requires 3+ years in finance or markets, strong Python/SQL/React skills, and familiarity with OSFI, CDIC, and FRTB. Join a diverse team driving risk analytics and regulatory compliance.

Qualifications

• Master’s degree in Finance, Financial Engineering, Applied Mathematics, Computer Science, or a related quantitative discipline.
• 3+ years in a bank, hedge fund, or capital markets environment.
• Proficiency in Python, SQL, React or similar front-end/UI frameworks, and pricing/risk analytics platforms such as Bloomberg, QRM, or in-house systems.
• Excellent communication skills for technical and non-technical stakeholders.
• Understanding of derivatives pricing and risk sensitivities, including first- and second-order Greeks.
• Hands-on experience with Total Return Swaps, interest rate options, and structured products.
• Strong grasp of market volatility dynamics and convexity risk in pricing and hedging.
• Knowledge of IRRBB, FRTB, and CDIC regulatory requirements.
• Progress toward or completion of CFA, FRM, or related designation preferred.
• Self-starter with strong organizational skills and ability to manage multiple priorities.

Responsibilities

• Manage end-to-end processes for non-linear hedging programs for Banking Book products with embedded optionality.
• Monitor hedging strategies involving interest rate options and structured products for performance and P&L attribution.
• Analyze impact of market volatility, convexity, and customer behavior on structural risk.
• Partner with trading desks, Risk Management, and Finance to report FTP and margin drivers.
• Assess and optimize hedge effectiveness under various market scenarios.
• Develop desk-specific analytics reports for risk reporting and product optimization.
• Contribute to risk models and analytics tools for complex derivative exposures.
• Drive automation and documentation to improve efficiency and transparency.
• Participate in projects on advanced risk analytics, model validation, and regulatory reporting.

Skills

Python

SQL

React

Bloomberg QRM

Derivatives risk

FRTB/CDIC

CFA/FRM (preferred)

Education

Master’s degree in Finance/Financial Engineering/Applied Mathematics

CFA/FRM (preferred)

Tools

Bloomberg

QRM

Job description

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. The Balance Sheet Management team within Group Treasury is seeking a highly analytical and motivated Manager to support the Bank’s Structural Interest Rate Risk (SIRR) programs, with a particular focus on managing non-linear risks. This role is ideal for candidates with a strong background in derivatives risk and regulatory requirements, including OSFI, CDIC, and FRTB. Experience managing non-linear exposures and working with complex instruments such as swaps, interest rate options, and total return swaps (TRS) is desirable.

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

• Manage end-to-end processes and communications related to non-linear hedging programs for Banking Book products with embedded optionality.
• Monitor hedging strategies involving interest rate options and other structured products for performance and P&L attribution, and communicate results to various stakeholders.
• Analyze the impact of market volatility, convexity, and customer behaviour on the Bank’s structural risk profile.
• Partner with trading desks, Risk Management, and Finance teams to report on program- and product-specific FTP and margin drivers.
• Assess and optimize hedge effectiveness under various market scenarios.
• Develop desk-specific analytics reports to support program optimization, risk reporting, and product optimization, including second-order risk metrics and scenario analysis, to engage business lines on market competitiveness.
• Contribute to the development and enhancement of risk models and analytics tools used to evaluate complex derivative exposures.
• Drive process automation and documentation to improve operational efficiency and transparency.
• Participate in ad hoc projects related to advanced risk analytics, model validation, and regulatory reporting.

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

• A master’s degree in Finance, Financial Engineering, Applied Mathematics, Computer Science, or a related quantitative discipline.
• 3+ years of experience in a bank, hedge fund, or capital markets environment, ideally in Finance, Treasury, Derivatives Trading, Structuring, or Market Risk.
• Proficiency in Python, SQL, React or similar front-end/UI development frameworks, and experience with pricing and risk analytics platforms such as Bloomberg, QRM, or in-house systems.
• Excellent communication skills, with the ability to explain complex risk concepts to both technical and non-technical stakeholders.
• Demonstrated understanding of derivatives pricing and risk sensitivities, including first- and second-order Greeks.
• Hands-on experience with complex derivatives, such as Total Return Swaps, interest rate options, and structured products.
• A strong grasp of market volatility dynamics and convexity risk, including their implications for pricing, valuation, and the design of hedging strategies.
• A strong understanding of bank regulatory requirements, including but not limited to IRRBB, FRTB, and CDIC Resolution.
• Progress toward or completion of CFA, FRM, or other related designation is preferred but not mandatory.
• A self-starter mindset with strong organizational skills and the ability to manage multiple priorities under tight deadlines.

What’s in it for you?

• A rewarding career path with diverse opportunities for professional development.
• An organization committed to making a difference in our communities—for you and our customers.
• A competitive rewards program that includes an annual bonus, flexible vacation, personal and sick days, and comprehensive benefits that start on your first day.
• Diversity, Equity, Inclusion & Allyship - We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and embraced through bias-free practices and inclusive values across Scotiabank. We embrace diversity and provide opportunities for all employees to learn, grow, and participate through our various Employee Resource Groups (ERGs), which span diverse gender identities, ethnicities, races, ages, abilities, and veteran statuses.
• Accessibility and Workplace Accommodations - We value the unique skills and experiences every individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone. Scotiabank continues to locate, remove, and prevent barriers so that we can build a diverse and inclusive environment while meeting accessibility requirements.

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 our 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.