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Associate Director, Hedging - Planning and Analysis

Toronto, ON
Full Time
2 days ago

Requisition ID: 108815

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Job Purpose
The Associate Director will be responsible for developing and maintaining a comprehensive framework for structural interest rate and FX risk management. The incumbent should possess:
  • 5+ years of experience in Asset Liability Management, Financial Analysis, Capital Market and/or Market Risk related function areas
  • Deep understanding of banking book products, fixed income and interest rate derivatives, global markets, hedging strategies, and hedge accounting
  • Strong understanding of FX risk with a focus on LATAM currency markets and ability to synthesize macro, socio-political, monetary, fiscal policy considerations into currency hedging recommendations.
  • Attention to detail and focus on accuracy
  • The focus and ability to reconcile ongoing reports, explaining short term differences and identifying long term trends
  • Experience in capital markets products as well as comprehension of trading concepts and strategies
  • The ability to take initiative to study the market and investment theories and apply that information to hedging activities
Balance Sheet Management (BSM) Hedging - Planning and Analysis, within Group Treasury, is responsible for developing policies and strategic framework for the Bank's Structural Interest Rate Risk (SIRR) and Structural Foreign Exchange Risk (SFER). This team plays a very active role in developing and implementing initiatives to manage dynamic exposures due to embedded optionality and customer behaviors. As hedging involves use of both on and off-balance sheet products, which entail significant accounting complexity, this team acts as BSM's central point of contact for hedge accounting strategies and applications. The team is also responsible for developing foreign exchange hedging strategies, daily position tracking, some aspects of compliance, reporting to senior management and various bank Asset & Liability committees (ALCO)
Key Job Accountabilities:
  • Working with internal systems, data and multiple stakeholders in Finance & capital management to enhance and maintain the Bank's daily Earnings and ongoing capital FX risk management framework and reporting.
  • Continuously monitor potential opportunities and risks in the macro environment to facilitate FX hedging recommendations with a focus on LATAM markets
  • Maintain and enhance balance sheet and FX risk reporting models to supports hedging decisions
  • Act as a subject matter expert on foreign exchange structural position management, facilitate reporting for senior management and act as a key point of contact between Group Treasury and stakeholders in Finance, Strategic transactions and capital management groups.
  • Support team members in management of various hedging processes and risk reporting related to daily all bank SIRR reporting, commitment risk management and hedge accounting processes
  • Ad hoc projects as assigned, particularly related to assessing interest rate risk in the banking book and impact across the different business lines and to the Bank's bottom line
  • Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions
  • Prepare high quality reporting packages to GT senior management and ALCO's
  • Ensure main tasks are documented
  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Creates an environment in which his/her team 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 Guidelines for Business Conduct.
Education/Experience/Other Information:
  • Masters/PhD in Finance, Business, Engineering, Applied Mathematics, Computer Science or Economics
  • CFA charter holder preferred
  • 5+ years of experience in a Bank Treasury, Capital Markets and/or market risk related function areas
  • Strong proficiency in data management is required. Programming capability in Excel (VBA), Bloomberg, MATLAB or SQL is highly desirable.
  • Excellent verbal and written communication skills, with the ability to understand and explain the relationship and constraints between risk management, margin optimization, and accounting treatment
  • Expert understanding of interest rate and fx derivatives in valuation, risk management and funds transfer pricing application
  • Fluency with features and financial risks associated with trading and banking products
  • Superior analytical and quantitative skills
  • Self-starter, proactive and take action with minimal supervision
  • Ability to stay organized and balance a number of deliverables
Location(s):  Canada : Ontario : Toronto 

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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