Senior Manager, Country Risk Management

Scotiabank; Toronto; On-site; CAD 90,000 - 150,000; Full time

Job summary

An established industry player is seeking a Senior Manager for Country Risk Management. In this pivotal role, you will provide critical insights and research on country ratings while overseeing cross-border risk exposure. Your expertise in economics and risk analysis will be essential in shaping the Bank's strategies in LATAM and Caribbean regions. Join a collaborative team that values innovation and offers diverse opportunities for professional growth. If you are passionate about making impactful decisions and thrive in a dynamic environment, this role is perfect for you.

Benefits

Inclusive work environment

Professional development opportunities

Internal training programs

Qualifications

• Strong understanding of derivative products and sovereign risks.
• Ability to make recommendations to senior management effectively.

Responsibilities

• Conduct country risk research and provide ratings to senior management.
• Evaluate and recommend cross-border limits to manage risk exposure.
• Contribute to quarterly risk management reporting.

Skills

Bilingual in Spanish and English

Economics background

Interpersonal skills

Problem-solving skills

Decision-making abilities

Education

MBA

CFA

CMA

CA designation

FRM designation

Job description

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Title: Senior Manager, Country Risk Management

Requisition ID: 219090

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

Reporting to the Director, while operating in a team-based environment, the Senior Manager is primarily responsible for country ratings, overseeing the Bank's Cross-border risk exposure through managing and monitoring the Bank's Cross-border Limits, with a focus on LATAM and Caribbean countries supporting other credit areas and Banking; and continually developing the Bank's Country Risk methodology.

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

• Country Ratings
  • Provides sound and timely country risk research and rating opinions to Senior Management, Banking and other GRM areas, by monitoring economic, socio-political, and environmental events around the world that may impact the Bank’s exposure to countries or regions;
  • Evaluates and recommends the appropriate IG risk rating for sovereigns and for capping cross-border risk assets, using sound risk analysis and employing the Bank’s internal rating methodology in a consistent, replicable, and transparent manner;
  • Coordinates with Banking and other departments for the preparation of strategy papers with respect to management of cross-border risk portfolios;
  • Contributes to the development of sound analytical standards and the ongoing improvement of our risk rating methodologies, by researching and employing the latest best practices in country risk analysis and management.
• Cross-border Limits
  • Evaluates and recommends appropriate cross-border limits to ensure the Bank’s cross-border risk exposure is effectively diversified, is appropriate relative to country risk, and supports the Bank’s business growth strategy;
  • Coordinates requests for changes in cross-border limits with all key stakeholders (e.g. country and regional heads, product heads, other GRM areas) to ensure the recommendation to Senior Management represents a fair and balanced view between the need of the business and the need to protect the Bank from undue country risk;
  • Monitors adherence to cross-border limits and cross-border limit reporting requirements, and recommend actions where negative trends or irregularities are identified;
  • Contributes to ongoing development of cross-border methodologies, guidelines, processes and systems to improve the accuracy and timeliness of cross-border limit reporting.
• Development of Internal Country Risk Discipline
  • Ensures Banking and other GRM areas receive appropriate and meaningful feedback on the identification and understanding of country risk as it impacts their portfolio, so as to ensure that cross-border risk assets are properly reported and evaluated in the credit approval process .
  • Provides country risk research and opinions to Banking to support their sovereign credit proposals (and other cross-border credit proposals when requested), to ensure that country risk research is not duplicated in other areas of the Bank and that the country risk IG used by the Bank is consistent across the organization;
  • Acts as an industry champion with respect to the management of country risk exposure, as required.
  • Participates in presentations and seminars on Country Risk issues.
• Reporting & Special Projects
  • Contributes to the preparation of quarterly Cross-Border Exposure and Enterprise Risk Management reporting.
  • Undertakes Special projects both within the group and with other areas including liaising with other areas in GRM for analytics-related projects related to country risk & portfolio management.
  • Provides administrative-type support to the CRM Team from time to time, to ensure the group operates effectively and productively.

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

• Bilingual in Spanish and English is an asset
• While MBA, CFA, CMA or CA designation is preferred, equivalent industry/credit analysis experience will be considered. FRM designation also considered and asset.
• The incumbent should have a sound background in economics and must keep abreast of international developments across all spectrums – political, economic, financial, regulatory etc. that may impact the Bank’s cross-border risk exposure.
• Understanding of derivative products, sovereign (cross-border) risks, deal structuring, due diligence and documentation, legal & accounting principles.
• Ability to make decisions and appropriate recommendation to senior management and effectively support such recommendations.
• Strong inter-personal and problem-solving skills, tenacity, and diplomacy.
• Applicants must be able to demonstrate a high degree of flexibility, independent decision-making, the ability to rapidly acquire new knowledge and function with minimal supervision.

What's in it for you?

• We have an inclusive and collaborative work environment that values curiosity & ownership, encourages pragmatic creativity (i.e. true innovation), and celebrates success!
• An inclusive working environment that encourages creativity, curiosity, and celebrates success!
• A rewarding career path with diverse opportunities for professional development
• Internal training to support your growth and enhance your skills

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. 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.