Scotiabank
Director, Counterparty Credit Risk
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Director, Counterparty Credit Risk
Senior Counterparty Credit Risk Manager - London
About the Role
Join a purpose-driven winning team, committed to results, in an inclusive and high-performing culture.
Role Purpose: Leads and oversees Counterparty Credit Risk in London in line with the Bank’s risk appetite, risk policies frameworks, market best practices, and regulatory expectations.
Ensures business strategies, plans, and initiatives are delivered safely, soundly, and in compliance with governing regulations, internal policies, and procedures.
Accountabilities
- Responsible for establishing and maintaining a robust framework for monitoring and measuring counterparty credit risk across London portfolios.
- Ensures adherence to the bank’s standards and UK regulatory requirements.
- Oversees counterparty credit risk policy, processes, and controls.
- Validates the adequacy of margin frameworks, limits, and stress testing methods.
- Monitors risk profile, trends, limits, margins, and stress-testing results, partnering with First Line to identify risks to portfolios.
- Liaises with trading desks, front-office risk personnel, and relevant committees on:
- Oversight of counterparty credit risks
- Breaches of limits
- Risk appetite violations
- Margin calls
- Early identification and escalation of risks
- Provides second-line oversight of counterparty relationships, assessing their risk profiles, management practices, and impact on Scotiabank.
- Collaborates with Trade Floor Risk Management and Trading teams to ensure monitoring aligns with current market conditions.
- Works with London and Toronto credit teams to ensure effective risk appetite settings for clients and adequacy of closeout playbooks.
- Presents counterparty credit risk profiles to governance and oversight committees for strategic review.
- Instils a customer-focused culture by deepening client relationships and leveraging the bank’s systems and knowledge.
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Key Dimensions
- Deep understanding of counterparty risk and market risk management concepts.
- Strong knowledge of traded products and markets to evaluate counterparty risks.
- Proven interpersonal and engagement skills with clients and front-office staff.
- Ability to collaborate across geographies and teams, integrating diverse skills.
- Highly organized with a capacity to manage competing priorities in a fast-paced environment.
Experience & Qualifications
Education
- Minimum: Bachelor’s degree in a finance-, risk-, or business-related discipline.
- Preferred: Master’s degree or a recognized professional designation (e.g., FRM, CRA, ACCA).
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Experience
- Proven track record in market or counterparty credit risk oversight (or a relevant function).
- Expertise in market risk assessment (traded products, risk frameworks).
- Awareness of emerging regulatory developments in counterparty credit risk.
Skills
- Strong verbal and written communication — including with senior management and external regulators.
Location & Employer
Primary Location: London (UK) Employer: Scotiabank — A leading bank in the Americas, serving communities through advice, products, and services like personal/commercial banking, wealth management, corporate investment banking, and capital markets.
Scotiabank values diversity and inclusion, fostering an accessible environment where every individual’s unique contributions thrive.
Important Notes
Accommodation requests (e.g., accessible interviews, assistive technologies) are welcome — please inform the Recruitment team. All candidates must apply online; only shortlisted applicants for interviews will be contacted. Applicants who don’t receive an interview response may assume their submission is unsuited to the role.
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