Senior Manager, Market Risk Model Development

Scotiabank; Toronto; On-site; CAD 100,000 - 140,000; Full time

Job summary

Scotiabank is seeking a Senior Manager for Market Risk Model Development in Toronto. This role involves developing risk models, collaborating with various teams, and enhancing methodologies for market risk measurements. Candidates should possess strong quantitative skills, relevant experience, and an advanced degree in a related field.

Benefits

Competitive compensation and benefits package

Opportunities for professional development

Inclusive and collaborative working environment

Qualifications

• 3+ years of relevant experience in capital market modeling and market risk.
• Effective communication skills to summarize complex ideas.
• Strong interest in Finance, Economics, and Risk Management.

Responsibilities

• Support model development for Value at Risk (VaR) and FRTB.
• Prototype new approaches and enhance existing methodologies.
• Lead team members on ad-hoc analyses and model development.

Skills

Quantitative modeling

Problem-solving

Communication

Education

Advanced degree in Mathematics, Finance, or related field

Tools

Python

C++

Job description

Requisition ID: 216551

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

We are committed to investing in our employees and helping you continue your career at Scotiabank.

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

As the Market Risk Model Development (MRMD) team, we are an established leader in risk methodologies with many awards and several firsts in the Canadian banking sector: We prepare Scotiabank for the adoption of new regulatory and industry-wide initiatives and played a key role in Scotiabank becoming the first bank in Canada to receive regulatory approval. As part of this, we have provided major contributions to discussion with regulators on changes that increase the financial stability of banking systems world-wide.

MRMD 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, analytic, 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 modeling background who is keen to help in bank-wide projects that require a high degree of communication and stake-holder management. This is also good starter role for someone with a strong quantitative background with proven interest in Finance, Economics, Derivatives, or Risk Management via reading and self-education.

As the Senior Manager, Market Risk Model Development, you will support the bank’s model development for the Value at Risk (VaR), and Fundamental Review of the Trading Book (FRTB). You will have opportunities to develop and maintain risk models to support new products and business, and collaborate extensively with other risk teams, business lines, and trading functions.

In this role, you will:

• Take a hands-on role in various high-profile projects that are related to VaR and FRTB.
• Prototype new approaches and enhance existing methodologies to advance market risk measurements. Develop production level code and collaborate with IT team for integration into daily bank processes.
• Lead team members for various ad-hoc analyses, model development, documentation, reporting, preparation of materials.
• Execute model runs on a regular basis for reporting and perform corresponding analyses.
• Communicate with model users, trading desks, risk teams, and business lines to enhance models and ensure correct use of models.
• Become an active member of the team including our D&I initiatives and communities.

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, Market Risk, Derivatives Pricing, Risk management or Regulations.
• 3+ years of relevant working experiences (i.e. capital market modelling, market risk modelling, CCR modelling, etc.) are preferred.
• Advanced degree in a mathematics, economics, or scientific discipline (e.g., Mathematics, Finance, Statistics, Physics, Engineering, Biology, Economics, etc.). Master’s degrees or PhDs are a bonus.
• 3+ years of coding experiences in Python and/or C++.
• Effective oral and written communication skills, specifically the ability to summarize complex ideas in simple terms; you enjoy working in collaborations.

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. 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.

About the company

The Bank of Nova Scotia, operating as Scotiabank, is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario.

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