Senior Manager, U.S. Trade Floor Risk Management, Global Risk Management

Senior Manager, U.S. Trade Floor Risk Management, Global Risk Management

Location:

New York, NY, United States

Requisition : 242602

Salary Range: $ - $ (guideline; actual may vary)

Purpose: The Trade Floor Risk Management role will be to monitor the risks generated by all Mortgage Trading desks in the U.S. including Agency MBS/TBA’s, CMO’s, Non-Agency RMBS, as well as Whole Loan Trading. The risk manager will be part of a team co‑located on the trading floor, working closely with other product specialists. The role will also include interfacing with the Houston‑based mortgage lending and origination teams as the business expands.

The role will also include opining on the suitability of certain mortgage collateral types as well as haircuts that the Repo desk will be financing with the bank’s clients.

• Be the primary market risk management lead for the U.S. Mortgage Business in its entirety.
• Be responsible for the establishment of risk limits related to all of the Mortgage businesses, risk reporting, capital calculations under FRTB, breach discussions and remediation, as well as be instrumental in the business review process.
• Have significant interaction with the front office to solidify a strong cooperative relationship between risk and the front office. This aspect also involves participation in the setting of Volcker metrics for these desks along with advising the desk about the rule.
• Be participating within a much larger risk management team in the U.S., as well as within a global Trade Floor Risk Management effort.
• Produce significant market risk material and analysis to be used in local and global risk committees, including business risk metrics, top and emerging market risks, as well as risk support and challenge to the various businesses.
• Be presenting and interfacing with the various regulators that oversee the bank including the Fed, OSFI, the DFS, and others. This will involve working closely with the bank’s Regulatory Relations team.
• Require significant interaction with the Financial Engineering/Modeling team, the Market Risk Model Development team, the Model Risk team, the Data Governance team, as well as the Risk Technology effort.
• Require an understanding of the modeling effort’s design and capture of the various risk factors generated by all facets of the business. This may require frequent interaction with the Model Risk team to discuss the sufficiency of the risk models used for each business.
• Work closely with other risk partners within the bank including Operational Risk, Compliance, Internal Control, and others within Financial and Non‑Financial Risk.

• Produce Mortgage Trading risk reports with utilizations against limits, and perform breach remediation discussions and resolutions.
• Working with the front office, help in establishing and revising the desk limit structures including total notional, VaR, Stress Testing Limits, and other risk sensitivities.
• Respond on a daily basis to front office risk needs, questions, and provide challenge to confirm justification for limit change requests.
• Participate in the end of month IPV (Independent Price Valuation) process working closely with Product Control.
• Drive a customer‑focused culture that deepens client relationships and leverages broader Bank relationships, systems and knowledge.
• Build a high‑performance environment and implement a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors, communicating vision/values/business strategy, and managing succession and development planning for the team.
• Create an environment in which the team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and other policies.
• Assist in the training and development of junior members of the team, which includes putting direct reports in situations where they can present transactions and gain visibility within the organization.
• Effectively communicate with senior management, head office and the relevant Risk Committees to ensure proper risk management and…