Senior Manager, US Counterparty Risk

Title: Senior Manager, US Counterparty Risk

Requisition ID: 270621

Employee Referral Program – Potential Reward: $3,500.00

Salary Range: 120,900.00-231,400.00

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

Global Banking and Markets

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group. Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!

Purpose

The role will oversee all aspects of Counterparty Credit Risk (“CCR”) emanating from Scotia Capital (U.S.A.) Inc. (“SCUSA”) and Scotia Bank U.S. (“SBUS”), with a focus on Futures Commission Merchant (“FCM”). Take a leadership role in partnering with Global Banking and Markets (GBM) to ensure sound risk management practices are observed in CCR as it pertains to U.S. booked and managed activity.

What You'll Do

• Oversee daily and periodic CCR reporting for SCUSA, SBUS, and covered entities, including risk appetite metrics, facility- and counterparty-level Potential Future Exposure (“PFE”), stress breaches, Futures Commission Merchant (“FCM”) deliverables, and month-end and quarter-end reporting requirements.
• Familiarity with CFTC 1.73 & cross-margining, monitor client exposures across futures & options, across asset classes. Evaluate concentration and evaluate margin sufficiency. Assist credit risk with sizing limits.
• Lead review, approval, and communication of credit risk exposures across Repo, Securities-Based Lending, Prime Services, and OTC derivatives, including exposure trends, utilization changes, concentration risks, and limit or stress breaches.
• Assess stress scenarios, tail risks, PFE and stress testing models, and related assumptions, limitations, and weaknesses to support proactive portfolio risk identification.
• Partners with trading groups, system owners, data providers, and CMR to address emerging risk-taking activity, improve reporting timeliness and accuracy, and support review of margin exception requests.
• Strengthening CCR reporting infrastructure by understanding data and technology flows, enhancing Power BI dashboards and reporting tools, and overseeing production and risk system enhancements that improve controls and efficiency.
• Support governance, internal audit, and regulatory activities, including FRB requests, remediation of findings, RCSA and CRCA processes, and Clausematch updates for policies, procedures, and frameworks.
• Promote a high-performance, inclusive team environment through clear communication, succession planning, and talent development.

Reporting Relationships

Primary Manager: Director, Head of U.S. Counterparty Credit Risk,US Risk Management, SCUSA
Direct Reports: N/A
Shared Reports: N/A

What You'll Bring

Bachelor’s or Master’s degree or foreign equivalent in Finance, Mathematics or statistics, or a related field and four (4) years of progressively responsible experience in the job offered or related occupation: preferred analyzing large sets of unclean data with bash, Python, and C++; optimizing risk report generation system using various software engineering tools; utilizing knowledge of quantitative finance for mathematical modeling of financial risks; managing financial risk in market risk and counterparty credit risk; writing detailed process documentation of newly created systems and existing systems; liaising with different stakeholders from front to back office, to externals (auditors, regulators).

Working Conditions

• Work in a standard office-based environment that includes hybrid arrangement; non-standard hours are a common occurrence. Limited travel domestically/internationally/globally.

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.

Scotiabank is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by federal, state, or local law.

Location(s)

Location(s): United States : New York : New York City

What's in it for you?

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

#GBM

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.