Director, Prime Services Risk (in-business)

Requisition ID: 237160

Salary Range:300000.00-300000.00

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors including but not limited to the successful candidates relevant knowledge skills and experience.

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

Title: Director Prime Services Risk (in-business)

Global Banking and Markets

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America operating globally for over 100 years. Scotiabanks strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.

Global Banking & Markets provides a full range of investment banking credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing mergers & acquisitions corporate banking institutional equity sales trading and research fixed income products derivatives energy foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.

Be part of an innovative Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!

Overview

This role will be focused on Scotiabank GBMs global repo portfolio providing a detailed risk perspective to help the business make informed decisions. The role requires a deep understanding of the repo product across asset types including government supranational corporate bonds CLOs ABS RMBS and CMBS. USD CAD EUR and GBP are the main currencies of coverage. The Role will sit in-business reporting to the first line and report to the Managing Director Head of Front Office Prime & Repo Risk.

What Youll Do:

Manage risk for the US PS platform. This role is within the business which has experienced rapid growth recently. This role will support the continuing expansion of the business.

Specific responsibilities include:
Analysis of counterparty risk across a variety of client types with a focus on hedge funds
Sales support: assist the sales force by discussing margin and risk appetite with clients; analyze prospective client portfolios and provide margin analyses; work with internal groups to get credit approval
Negotiate risk- and margin-related legal terms with clients; work with internal and external counsel on margin lockup agreements
Coverage: day-to-day coverage of the margin process for clients on the US PS platform; answer client inquiries about margin
Work with the firms independent risk management function to manage market credit liquidity and operational risk
Design and improve risk margin and control reports for clients and management; write business requirement documents and create report prototypes for IT; work with IT on implementation and validation; work with the product development team to manage and prioritize tasks
Monitor client and business line credit limits and utilization- work with internal groups to manage limit breaches
Develop and refine procedures
Support senior management with ad hoc queries and audits

Coverage may also include the repo desk so experience in repo markets or with structured credit products is also a plus.

What Youll Bring:

Requirements

Background in prime brokerage risk
Understanding of equity markets
Comfort with quantitative concepts
Excellent communication skills both written and oral
Proficiency with Microsoft Excel
Proficiency with Bloomberg including Excel API

Desired Skills/Experience
Proficiency with VBA and/or Python
Proficiency with Microsoft Access and/or SQL
Familiarity with security pricing models (options converts bonds) and/or risk modeling (VaR stress-testing)
Knowledge of US securities law and margin concepts (such as Securities Act of 1933 Securities Exchange Act of 1934 Investment Company Act of 1940 Regulation T Regulation U FINRA 4210)
Series 7 & 63 licenses
Experience with structured credit products including CLOs ABSs and MBSs

Interested

At Scotiabank every employee is empowered to reach their fullest potential respected for who they are and embraced for their differences. Thats why we work to grow and diversify talent and engage employees in a performance-oriented culture.

Whats in it for you

Scotiabank wants you to be able to bring your best self to work and life every day. With a focus on holistic well-being our many flexible benefit programs are designed to help support your unique family financial physical mental and social health needs.

Location(s): United States : New York : New York City

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.