Director, Counterparty Credit Risk

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Requisition

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

Purpose

Leads and oversees Counter party Credit Risk in London in accordance with the Bank’s risk appetite, risk policies/frameworks, market best practices, and regulatory expectations. Ensure that business strategies, plans and initiatives are executed / delivered safely and soundly and in compliance with governing regulations, internal policies and procedures.

Accountabilities

• Responsible for ensuring a robust framework for monitoring and measuring counter party credit risk in the London portfolios. Ensure that the London counter party framework meets the standards of the bank and the local regulatory requirements of the UK regulators.
• Oversight of the counter party credit risk policy, processes and controls.
• Ensure that the margin frameworks, limits and stress testing conducted are appropriate and adequate.
• Responsible for the monitoring of risk profile, trends, limits, margins and stress testing results, and partnering with 1st Line in identifying potential risks to the portfolio.
• Liaise with the trading desks and front office risk personnel on the oversight of counter party credit risks, including any breach of limits, risk appetite, margin calls, trends and identifying/escalating potential risks to the bank’s portfolios.
• Oversee the relationship with the counter parties from a second line perspective - in understanding their risk profile, risk management practices and oversight with a view to assessing their impact on Scotiabank.
• Actively engage with the Trade Floor Risk Management and Trading teams to ensure that the counter party credit risk monitoring is appropriate to the current market conditions.
• Work with the credit teams on counter party credit assessments on the setting of effective risk appetite for clients.
• Work with teams in London and Toronto to ensure the adequacy of closeout playbooks.
• Present the counter party credit risk profile of the London portfolios at the appropriate governance/oversight committees.
• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Dimensions
• Strong understanding of counter party risk and market risk management concepts.
• Strong understanding of traded products and markets, to assess their impact on counter party risks in the portfolio.
• Good interpersonal skills and ability to engage with the bank’s clients and front office staff.
• Ability to work across teams and geographies to leverage skills, knowledge and resources.
• Highly organized with an ability to work in a fast-paced, multi stakeholder environment and manage multiple priorities.

Education / Experience

• Requires at least a Bachelor’s degree in a related discipline. Master’s degree, recognized professional designation in a specialized area of finance or business, is an asset.
• Experience in market or counter party credit risk oversight (or related function).
• Solid market risk understanding of traded markets and products.
• Knowledge in the latest regulatory developments in market risk and counter party credit risk.
• Strong verbal and written communication skills to senior management and external regulators are required.

Location(s):
England :
Greater London :
London (UK)