Scotiabank
Manager, Rates/CMF, Trade Floor Risk Management
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Requisition ID: 271823
Join a purpose-driven winning team, committed to results, in an inclusive and high-performing culture.
Support oversight of market risk in the second line of defense on the Rates business line. Contributes to the overall success of the Trade Floor Risk Management / Global Risk Management department in the UK, ensuring specific individual goals, plans, initiatives are executed/delivered in support of the team's business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies, and procedures.
Is this role right for you?
In this role, you will:
- Identify and assess market risks in the Rates businesses, ensuring consistency with the Bank's risk appetite and the approved business mandate. Support the Business to develop ad hoc risk analysis.
- Act as the eyes and ears of Global Risk Management on the London trade floor, as the first point of contact with the London Rates desk on discussions of limits, one-off exceptions, strategy, etc.
- Ensure that the reported daily P&L of the London business is carefully scrutinized to understand risk-taking activities and valuation issues. Partner closely with Product Control on P&L attribution.
- Ensure that the reported VaR and Stress Test results for London Rates are accurate and adequately reflect the risk that the desk and business are running. Responsible for desk-level investigation.
- Ensure that portfolios are valued properly and in accordance with Bank standards, including the execution and documentation of valuation processes.
- Prepare analysis and recommendations on new products and other market risk limit issues, including limit structure and amounts, for presentation to the Market Risk Management and Policy Committee. Daily limit monitoring to ensure compliance with regulatory MIFID II and OSFI reporting.
- Enhance/improve the current reporting process with other control functions (Technology, Market Risk Operations, Analytics, etc).
- Work in partnership with the Trading Desk, Product Control, and Operations units as well as peer TFRM teams in Toronto and New York.
- Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Actively pursue effective and efficient operations of your respective areas, ensuring the adequacy, adherence to, and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk, and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook, and the Code of Conduct.
- Contribute to a high-performance environment and foster an inclusive work environment; supporting the vision/values/business strategy for the team.
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Do you have the skills that will enable you to succeed in this role?
We'd love to work with you if you have:
- A strong knowledge of fixed income and rates products (bonds, swaps, inflation & vol products, and e-trading/algo)
- A good understanding of risk metrics (sensitivities, VaR)
- Passionate about market developments across asset classes.
- Solid experience in Risk Management related experience in the financial services industry.
- Strong numerical and computational skills, particularly in Python, GenAI, Bloomberg API, and MS apps.
- Excellent interpersonal and communication skills required.
- Ability to work in a fast-paced environment with multiple priorities.
What's in it for you?
- Diversity, Equity, Inclusion & Allyship - We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and are embraced through bias-free practices and inclusive values across Scotiabank. We embrace diversity and provide opportunities for all employees to learn, grow, and participate through our various Employee Resource Groups (ERGs) that span across diverse gender identities, ethnicity, race, age, ability, and veterans.
- Accessibility and Workplace Accommodations - 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. Scotiabank continues to locate, remove, and prevent barriers so that we can build a diverse and inclusive environment while meeting accessibility requirements.
- Upskilling through online courses, cross-functional development opportunities, and tuition assistance.
- Competitive Rewards program including bonus, flexible vacation, personal, sick days, and benefits will start on day one.
- Dynamic Ecosystem - Free tea & coffee, universal washrooms, and lots of space for team collaboration.
- Community Engagement - No matter where you choose to work from; we offer opportunities for community engagement & belonging with our various programs.
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Location(s)
England: Greater London: London (UK)
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.
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