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Senior Manager, Trade Floor Risk Management/Financial Risk

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Job ID 109904 Apr. 29, 2021 Dublin, Ireland
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Purpose


The Senior Manager will be responsible for risk oversight of the Capital Markets businesses and supervise up to two subordinates.The Senior Manager leads a group that has risk oversight for Global Fixed Income, Debt Capital Markets, Collateral Management and Funding, Global Prime Services, and Global Equity Derivatives including analysis and recommendations on limits including utilisation from remote booking, update of assigned policies, frameworks and procedures, model review, risk reporting, stress testing, valuation and p&l attribution.

As part of the wider Risk team, the Senior Manager contributes to the overall success of the Risk Management Function in SIDACensuring specific individual goals, plans and initiatives are executed / delivered in support of the team’s business strategies and objectives. The role holder also ensures that all activities are conducted in compliance with governing regulations, internal policies and procedures.



Accountabilities


Ensure that, on a daily basis, market risks and liquidity risks for the assigned books are thoroughly identified, assessed, analysed and communicated to senior management on a timely and accurate basis and are consistent with SIDAC’s risk appetite, limits and approved business mandate;

Ensure that the reported P&L is carefully scrutinized to understand risk taking and valuation issues and partner closely with Product Control on P&L attribution;

Facilitate timely resolution of risk and valuation related issues and ensure the portfolios are valued properly in accordance with Bank standards including the execution and documentation of valuation processes;

Prepare analyses and recommendations on business reviews, limit requests including Risk Appetite, new products and other market risk issues for presentation to the ALCO, BNS Market Risk Management & Policy Committee (MRMPC), New Initiatives Committee and the Board Risk Committee as required;

Perform stress testing on the covered portfolios including any ad hoc scenario testing and reverse stress testing;

Conduct data classification and spot check reviews of relevant regulatory reporting;

Responsible for periodic review of and keeping current all assigned policies, frameworks, and procedures and monitor regulatory developments for the areas covered;

Conduct model assessment and ongoing review for assigned models;

Prepare risk reporting for and present to relevant management and Board committees as required;

Represent TFRM in discussions on implementation of new and/or changes to technology supporting the trading businesses. Make recommendations as required on business cases for enhanced/new technology infrastructure to support operational risk related management reporting and related internal controls.

Keep informed of and escalate any concerns on remote booking activities into or out of SIDAC;

Support prudential exercises such as ICAAP and Recovery Plan including monitoring of assigned recovery plan indicators;

Respond autonomously to queries from Senior Management, Audit, Compliance, and BNS groups (TFRM Toronto, ECA, etc.) in respect of covered businesses;

Communicate regularly with the Director and CRO on trading activity, trading risk profile, trader sentiment and market developments in Dublin;


Support the TFRM team to act as the eyes and ears of Global Risk Management on the Dublin trade floor as the first point of contact with Dublin trading desks on discussions of limits, one-off exceptions, strategy, etc.

Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

Champion a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

Champion a high-performance environment and contributes to an inclusive work environment.

Actively pursue effective and efficient operations of his/her respective areas, while 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 Guidelines for Business Conduct.

The incumbent is required to have the relevant fitness and probity to carry out the role and responsibilities in such a manner that the incumbent can comply with the Central Bank of Ireland 2011 Fitness & Probity Standards, as applicable to the role. In general, the Fitness & Probity Standards require the role holder to:

(a) be competent and capable;

(b) act honestly, ethically and with integrity; and

(c) be financially sound.


Competencies

Acts with professionalism and respect at all times.

Exemplifies a strict ethical code to pursue honesty, integrity and transparency.

Demonstrates strong communication skills, both verbal and written, and adjusts communication style depending on the situation.

Develops effective relationships with business lines and other groups that fosters awareness of the Bank’s risk framework and the sharing of information.

Takes ownership and demonstrates the ability to focus on what matters most, working at a fast pace and able to consistently achieve results despite challenging conditions (Results Focus).

Acts as a role model and challenges employees to put the customer first and works cooperatively across departments to anticipate and serve customer needs (Customer Focus).

Demonstrates self-awareness, seeks out feedback from diverse sources and consistently pursues personal development to increase skills, knowledge and capabilities.

Demonstrates curiosity to bring external developments, trends and best practices to the Bank and constantly seeks improvement in how to deliver value to our stakeholders.

Demonstrates resiliency in the face of challenges and obstacles; adjusts well to changing priorities and creates enthusiasm in self and others to move forward after setbacks.

Demonstrates courage to express one’s view, confidently ask questions, respectfully challenge each other and our business partners, make decisions and learn from our mistakes.

Puts team first and works effectively, respectfully and collaboratively with colleagues and business partners to achieve common objectives and for the betterment of the Bank.


Education / Experience / Other Information

Degree in economics/finance or a quantitative discipline solid related experience in risk management or direct experience in the financial industry.

The incumbent must have a thorough knowledge of capital markets products, risk measurement such as VaR, risk sensitivities, stress testing, and models.

Good understanding of and working knowledge of banking regulations with respect to capital and liquidity requirements.

Excellent interpersonal and relationship-building skills to deal with all levels of staff and senior levels of management.

Excellent communication and presentation skills.

Advanced IT skills adaptable to a number of systems and applications.

Good understanding of financial markets.



Scotiabank is committed to providing an inclusive and accessible candidate experience. Only those candidates selected for an interview will be contacted. If you require accommodation during the recruitment and selection process, please let us know. We will work with you to meet your needs.

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