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Form of workRequisition ID: 194680
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
As the Market Risk Measurement (MRM) team, we are an established leader in risk methodologies with many awards and several firsts in the Canadian banking sector: We prepare Scotiabank for the adoption of new regulatory and industry-wide initiatives and played a key role in Scotiabank becoming the first bank in Canada to receive regulatory approval for using Internal Model Methods (IMM) for Counterparty Credit Risk. We guide modelling effort for both Interest Rate Risk in the Banking book (IRRBB) and the Fundamental Review of the Trading Book (FRTB).
As part of this, we have provided major contributions to discussion with regulators on changes that increase the financial stability of banking systems world-wide.
We are looking for people and talent that will help us drive these large-scale initiatives forward and work alongside our diverse team of quants, data scientists and developers and collaborate with our many stakeholders across Scotiabank.
Is this role right for you?
Do you like to apply your data, analytic, and modelling skills to solve relevant problems? Do you want to be part of the exciting endeavour of building out the next generation Market Risk framework to make a safer financial world? This role is ideal for a person with quantitative modeling background (in Finance or other quant area) and 1+years-experience in interest rate risk, retail product, or Market Risk modelling. This is also good starter role for someone with a strong quantitative background with established interest in Finance, Economics, Derivatives or Retail Products, via reading and self-education.
As part of the Bank's central Asset Liability Management (ALM) Modelling team, you will be liable for the development of the Bank's methodologies to accurately measure ALM risk. These are high-profile models which receive considerable attention from senior management and provide key inputs for managing interest rate risk in the banking book.
In this role, you will:
Take a hands-on role in the development of robust ALM risk models for structural interest rate risk (SIRR) in the banking book, customer behaviour, macroeconomic factors, and internal capital models. Socialize with model users, risk teams, and business lines to derive model purpose and usage.
Assist team members for various ad-hoc analyses, model development, documentation, reporting, preparation of materials.
Develop new models or enhance existing models, typically in Python. Alongside, you will prepare model documentation and implementation, as well as assist the model validation process and ongoing maintenance of models.
Execute model runs on a regular basis for reporting and perform corresponding analyses.
Become an active member of the team including our D&I initiatives and communities.
Do you have the skills that will enable you to succeed in this role? - We'd like to work with you if you have:
Solid quantitative background and problem-solving skills with a keen interest in Finance, Economics, Derivatives or Retail Products, and Regulations.
Advanced degree in a mathematics, economics, or scientific discipline (e.g., Mathematics, Finance, Statistics, Physics, Engineering, Biology, Economics, etc.). Master's degrees or PhDs are a bonus.
Knowledge of asset liability management and modelling experience in risk management, e.g. experience of structural interest rate risk modelling, is a bonus.
Python programing is essential. Experience in other Object-Oriented programing is a bonus.
Effective communication and specifically the ability to summarize complex ideas in simple terms; you relish working in collaborations. Experience in managing and pushing forward projects.
What's in it for you?
The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
A rewarding career path with diverse opportunities for professional development.
Internal development to assist your growth and enhance your skills.
A fantastic compensation and benefits package.
An organization acted to making a difference in our communities- for you and our customers.
We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!
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.
