Manager, Trade Floor Risk Management London

3 weeks ago

Cross, United Kingdom Scotiabank Full time
Requisition ID: 205650

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

Purpose

Oversight of market risk and market risk related controls/processes/governance on traded products in the bank. 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.

Accountabilities

This job requires the incumbent to understand and oversee market risk in the trading portfolio, be the central contact coordinating responses on VaR/Stress testing/Capital related queries, and to contribute towards governance activities undertaken by Trade Floor Risk Management team as/when required. The role is envisaged to rotate across business lines within market risk team over time to provide the incumbent with exposure to multiple traded products. Responsibilities include:

RISK OVERSIGHT -

Identify and assess of market risks of the business, and also ensuring consistency with the Bank’s risk appetite and the approved business mandate. Support the team to develop ad hoc analysis. Ensure that daily market risk for the assigned books is thoroughly analyzed and communicated to senior management on a timely and accurate basis.

MANAGEMENT LIAISON -

Act as the eyes and ears of Global Risk Management, on the London trade floor. The group acts as the first point of contact with London trade desk on discussions of limits, one off exceptions, strategy etc. Communicate regularly with Senior Managers on trading activity, trading risk profile, large PnL drivers, trader sentiment and market developments as relevant to the London traded portfolios.

VALUATION -

Work with PC team to ensure that portfolios are valued properly and in accordance with Bank standards, including the execution and documentation of valuation processes.

LIMIT REVIEW -

Provide analysis and recommendations on new products and annual review, including limit structure and amounts, for presentation to the Market Risk Management and Policy Committee.

PROCESS -

Enhance the process design complies with the bank and local requirements.

TECHNOLOGY -

Help the team with report automation and migration to Power BI and Tableau from manual excel reporting. Liaise with the Bank’s Technology group for new initiatives or changes that may impact London risk MIS.

PARTNERSHIP -

Although working in a control function and acting as a second line of defense, it is essential to work in partnership with the Trading Desk, Product Control and Operations units as well as peer TFRM across the globe.

VaR/STRESS TESTING -

Own VaR and stress testing reporting locally, monitor branch level limits and coordinate for desk level investigation, weekly and monthly trend and reports. Build analytical tool to understand driver of VaR and stress test results.Stress testing - actively engage with the head office to enhance stress testing methodology and scenarios, adding insight from European perspective.Central contact of FRTB methodology in the team, understand the shocks and methodology and build tools to estimate impact analysis.Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

Actively pursues 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 Code of Conduct.

Contributes to a high performance environment and fosters an inclusive work environment; supporting the vison/values/business strategy for the team.

Education / Experience

The incumbent must have a good knowledge of financial productsThe incumbent will require a good knowledge of risk metrics (sensitivities, VaR and stress testing)Some Risk Management related experience in the financial services industry and passions about financial markets.Strong numerical and computational skills required particularly in MS Excel, VBA. Experience in Bloomberg, Power BI and Tableau is preferred.Excellent interpersonal and communication skills required.Ability to work in a fast pace environment with multiple priorities

Location(s): England : Greater London : London

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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