Manager, Counterparty Credit Risk Analytics

Scotiabank; Toronto; On-site; CAD 70,000 - 110,000; Full time

Job summary

An established industry player is seeking a talented individual to join their Market Risk Measurement team. This role offers the chance to work on innovative projects that shape the future of financial risk management. You will utilize your data analytics and modelling skills to enhance the bank's Counterparty Credit Risk systems and collaborate with a diverse team of experts. The position promises a rewarding career path with opportunities for professional development in a supportive and inclusive environment. If you are passionate about finance and eager to contribute to impactful initiatives, this opportunity is perfect for you.

Benefits

Collaborative Team Environment

Professional Development Opportunities

Competitive Compensation Package

Inclusive Working Environment

Qualifications

• Solid quantitative background and problem-solving skills with a keen interest in Finance.
• Hands-on experience with Python and SQL programming essential for daily activities.

Responsibilities

• Provide insights on CCR measures to support business strategy and regulatory reporting.
• Develop metrics and tools using Python and Power BI to enhance CCR measurement.

Skills

Quantitative Background

Problem-Solving Skills

Communication Skills

Stakeholder Management

Finance Knowledge

SQL Programming

Python

Unix Bash Scripting

Knowledge of Derivatives

Education

Advanced Degree in Mathematics or Economics

Master's or PhD

Tools

Power BI

Job description

Requisition ID: 216847

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

Excited about creating a safer financial world by using your data, analytics, and modelling skills? - Join us!

As the Market Risk Measurement (MRM) team, we are an established leader in risk methodologies with many awards and several firsts in the Canadian banking sector: We build internal models, risk frameworks, and systems for Market Risk, Liquidity Risk, and Counterparty Credit Risk Measurement. We prepare Scotiabank for the adoption of new regulatory and industry-wide initiatives and contribute to discussion with regulators on changes that increase the financial stability of banking systems world-wide. MRM played a key role in Scotiabank becoming the first bank in Canada to receive regulatory approval for using Internal Model Methods (IMM) for Counterparty Credit Risk.

MRM is actively involved in the Bank's Diversity & Inclusion (D&I) initiatives representing the diverse gender, cultural and ethnic backgrounds of our team. The more diverse we are, the more balanced our approach and models will be! The team is a key contributor to Women-in-Leadership activities - we take part in enterprise-wide D&I discussions, events, and Employee Resource Groups to enhance the representation and recognition of minority groups in the bank.

We are looking for people and talent that will help us drive these large-scale initiatives forward and work alongside our diverse team of quants, data scientists and developers and collaborate with our many stakeholders across Scotiabank.

Is this role right for you?

Do you love to apply your data analytics and modelling skills to solve relevant problems? Do you want to be part of the exciting endeavour of building out the next generation market risk framework to make a safer financial world? This role is ideal for a person with quantitative background who is keen to move forward bank-wide projects that require a high degree of communication and stake-holder management.

As a member of the Counterparty Credit Risk Analytics team, you will work with the Bank's Counterparty Credit Risk (CCR) systems which cover measurement of Potential Future Exposure (PFE), IMM capital and xVA pricing. The team is at the forefront of new bank-wide initiatives related to CCR systems with exposure to many stakeholders from business and risk functions. You will collaborate with front-office, model developers, credit risk managers, data governance teams, and technology to build out analytics support and data solutions to ensure accurate reporting and insights on CCR measures used to monitor CCR in the Bank's CCR Monte Carlo engine as well as capital calculation system.

In this role, you will:

• Become a sure advisor to business lines and stakeholders to provide insights on CCR measure (PFE, MTM/current exposure, DSL) movement/breach to support business strategy and regulatory reporting.
• Take a hands-on role in several key strategic initiatives that are highly quantitative and key to enhancing CCR measurement and reporting, which involves development of metrics and tools using Python and PowerBI to improve exposure investigation, analytics capability, system operations, and data quality monitoring.
• Communicate with system users, trading desks, risk teams, and business lines to enhance understanding of CCR metrics, system data flows to ensure correct data and measurement use.
• Contribute to the centralized data issue and change request investigation, tracking, and solutioning.
• Maintain strong relationship with stakeholders to align expectations, requirements, and prioritizations. Partner with technology to support product management of CCR systems and analytics platforms.
• Support regular user trainings and user forums to collect, discuss, and action on stakeholder feedback.

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

• Solid quantitative background and problem-solving skills with a keen interest in Finance, Economics, Derivatives, Risk framework and Regulations.
• Advanced degree in a mathematics, economics, or scientific discipline (e.g., Mathematics, Statistics, Physics, Engineering, Biology, Finance, Economics, etc.). Master's degrees or PhDs are a bonus.
• Knowledge of derivatives and SFT products and industry wide methods for CCR calculations or experience with CCR management is an asset.
• Hands-on experience with Python and/or other Object-Oriented languages and Unix bash scripting is preferred.
• Excellent communication skills and specifically the ability to summarize complex ideas in simple terms. Strong presentation and writing skills.
• You like communication and stakeholder management, and you strive to push forward projects.
• SQL programming is essential to support day-to-day activity.
• Knowledge of databases and BI tools (especially MS Power BI) is an asset.
• Advanced knowledge of product management is an asset.

What's in it for you?

• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development.
• Internal development to support your growth and enhance your skills.
• A competitive compensation and benefits package.
• An organization committed to making a difference in our communities- for you and our customers.
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

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.