Scotiabank
Director, Counterparty Credit Risk
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Director, Counterparty Credit Risk
Role: Counterparty Credit Risk Leader – London
Join a purpose-driven winning team at Scotiabank
Committed to results in an inclusive, high-performing culture while aligning with banking industry frameworks and regulatory expectations.
About the Role
The Counterparty Credit Risk Leader in London reports directly to the Head of Credit Risk, corporate finance, derivatives and capital markets.
This role oversees and drives counterparty credit risk frameworks within the London portfolios, ensuring business strategies, policies, and processes align with the bank’s risk appetite, regulatory standards, and market best practices.
Responsibilities
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Risk Framework Leadership:
- Establish and maintain a robust framework for monitoring and assessing counterparty credit risk in London portfolios.
- Ensure compliance with UK regulatory requirements and local financial authorities.
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Policy & Process Oversight:
- Oversee counterparty credit risk policies, processes, and controls to mitigate exposure.
- Ensure adequate and appropriate margin frameworks, limits, and stress testing to protect bank’s exposure.
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Portfolio & Risk Monitoring:
- Monitor risk profile trends, limits, margins, and stress test results.
- Partner with 1st Line teams to identify emerging portfolio risks.
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Stakeholder Collaboration:
- Liaise with trading desks, front-office risk experts, and counterparties on credit risk management.
- Flag and escalate limit breaches, margin calls, and potential risks affecting portfolios.
- Ensure alignment with mentor counters and capital markets teams on counterparty obligations.
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Regulatory Engagement & Reporting:
- Present London counterparty credit risk profiles to governance and oversight committees.
- Work with regulators to ensure compliance reporting accuracy.
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Strategic Risk Alignment:
- Engage with Trade Floor Risk Management & Trading teams to refine risk monitoring under current market conditions.
- Collaborate with credit teams to define effective risk appetite frameworks for clients.
- Partner with London and Toronto teams to ensure adequate closeout playbooks.
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Client & Team Culture Focus:
- Promote a client-centric approach to deepen relationships with counterparts and leverage broader Scotiabank resources.
Required Knowledge & Experience
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Education:
- Bachelor’s degree in a relevant field (Finance, Economics, Risk Management, or related discipline).
- Masters degree or a recognized professional designation in finance is highly beneficial.
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Experience:
- Proven track record in market or counterparty credit risk oversight (or related banking risk function).
- In-depth understanding of traded markets, derivatives, and cross-border risk exposures.
- Knowledge of recent regulatory developments in counterparty credit risk (e.g., BCBS 246, Leverage Ratio frameworks).
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Skills:
- Analytical mindset for stress testing and trend identification.
- Multi-stakeholder coordinating skills to align teams across geographies.
- Strong verbal/written communication for senior leadership and regulatory engagements. Inclusive processes, tolerance for ambiguity in decision-making.
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Work Environment:
- Thriving in a fast-paced, multi-prioritised environment with diverse stakeholders.
Location & Company Culture
Postsitie: Counterparty Credit Risk Leader Location: Greater London, UK Reports To: Head of Credit Risk
About Scotiabank Scotiabank operates across four continents, led by its purpose: "For Every Future." Our 160-year heritage drives sustainable wealth creation for clients while fostering inclusion in all roles.
Equality & Accessibility Scotiabank values diversity in all capabilities. If you require accommodation during the recruitment process, please inform the Recruitment Team. Candidates progressing beyond initial screening will be contacted for interviews.
Deadline: Apply through this Scotiabank careers portal ([Insert Link Effectively]). Only selected applicants may receive further outreach.
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