Senior Manager, U.S. Trade Floor Risk Management

Senior Manager, U.S. Trade Floor Risk Management

Requisition ID: 259509

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.

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

Purpose

The Trade Floor Risk Management role will be to monitor the risks generated by the new Metals Trading initiative in the U.S as well as the FICC Index Business. The risk manager will be part of a team co-located on the trading floor, working closely with other product specialists. In addition, the role will be responsible for the backup coverage for the Global Equity Derivative Business out of the U.S., as well as the IEST (Cash Equity), and Convertible Bond Trading desk.

What You’ll Do

• Be the primary market risk management lead for the Metals Trading business (Base and Precious metals) as well as the related FICC Index Business. The role will also be the backup for the GED Business, IEST, and Convertible Bond Trading business operating within the U.S as stated above.

• Be responsible for the establishment of risk limits related to all the Metals and Commodity based businesses operating out of the U.S., risk reporting, capital calculations under FRTB, breach discussions and remediation, as well as be instrumental in the business review process.

• Have significant interaction with the front office to solidify a strong cooperative relationship between risk and the front office. This aspect also involves participation in the setting of Volcker metrics for these desks, opining on the language in the desk operating procedure (DOP) along with advising the desk about the relevant rules.

• Participate within a much larger risk management team in the U.S., as well as within a global Trade Floor Risk Management effort. For the equityrelated risks, the role will work closely with the Risk Champion for the products out of Toronto.

• Produce significant market risk material and analysis to be used in local and global risk committees, including business risk metrics, top and emerging market risks, as well as risk support and challenge to the various businesses.

• Interface with the various regulators that oversee the bank including the Fed, OSFI, the DFS, and others. This will involve working closely with the bank’s Regulatory Relations team.

• Require significant interaction with the COO team, Financial Engineering/Modeling team, the Market Risk Model Development team, the Model Risk team, the Data Governance team, as well as the Risk Technology team.

• Require an understanding of the modeling effort’s design and capture of the various risk factors generated by all facets of the business. This may require frequent interaction with the Model Risk team to discuss the sufficiency of the risk models used for each business.

• Work closely with other risk partners within the bank including Operational Risk, Compliance, Business Risk Management, and others within Financial and Non-Financial Risk

• Produce Metals Trading/FICC Index as well as GED, IEST, Convertible Bond risk reports with utilizations against limits, and perform breach remediation discussions and resolutions

• Working with the front office, help in establishing and revising the desk limit structures including total notional, VaR, Stress Testing Limits, and other risk sensitivities

• Respond on a daily basis to front office risk needs, questions, and provide effective challenge to confirm justification for any limit change requests

• Participate in the end of month IPV (Independent Price Valuation) process working closely with the Product Control team

• Driving a customer focused culture that deepens client relationships and leverages broader Bank relationships, systems and knowledge.

• Building a high-performance environment and implementing a people strategy that attracts, retains, develops, and motivates the team by (1) fostering an inclusive work environment and using a coaching mindset and behaviors, (2) communicating vison/values/business strategy, and (3) managing succession and development planning for the team;

• Creating an environment in which the team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and other policies.

• Assist in the training and development of junior members of the team, which includes putting direct reports in situations where they can present transactions and gain visibility within the organization.

• Effectively communicate with senior management, head office and the relevant Risk Committees to ensure proper risk management and sound corporate governance across the SBUS operations.

• Represent TFRM at the global Market Risk Management Policy Committee.

• Participate in, and assist with, internal audits, regulatory reviews, and projects.

What You’ll Bring

• Undergraduate degree required, preferably in Finance/Accounting, Economics, Engineering, Math, or the hard sciences. Graduate degrees are welcome, especially if in the disciplines listed

• 5+ years of experience in risk management or related activities specifically focused on Metals and Equity products listed above. Knowledge and understanding of options in metals will be a plus. Additional experience in rates risk, credit risk, as well as the financing of all forms of collateral through CMF/Repo or Prime Services will be helpful. Trading risk experience is not required but may be a plus.

• Expert knowledge and understanding of US regulatory considerations and issues

• A practioner’s approach to solving risk issues with a keen understanding of front office mechanics, how metal products are traded and valued, and a very strong commercial instinct including a risk/reward mindset.

• A working knowledge of risk and front office vendors within the Metals space; Advanced knowledge of Bloomberg. Familiarity with Riskwatch is a plus.

• Advanced Excel skills required. Working knowledge of Tableau, PowerBI, SQL and Python would be helpful.

• Excellent communication skills to be used in intra-risk, committee, regulatory, and front office business discussion formats representing market risk

• Understands how to bring the best out of his / her teams by complementing their existing skills

• Can balance competing or conflicting goals of various departments / countries / stakeholders via adopting a mature, diplomatic approach and using highly developed negotiation and influencing skills;

• Effectively liaises with key internal stakeholders, industry participants, and regulatory bodies.

Interested?

If your experience is closely related but doesn’t align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank!

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture.

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 #GBMRiskManagement

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

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, pleaseclick 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.

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.