Manager, Capital Markets Stress Testing and Data Analytics

Requisition ID: 223099

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

Are you passionate about financial markets and eager to apply analytical skills in a fast-paced environment? Do you thrive in an environment that challenges you to lead innovative approaches to risk management in the ever-evolving capital markets landscape? If so, we invite you to join our dynamic risk management team as a Manager, Capital Markets Stress Testing and Data Analytics.

As the team continues to grow in response to increasing complexity and regulatory requirements, this high-impact role offers the opportunity to design, implement, and enhance stress testing frameworks for market risk and counterparty credit risk, leverage data analytics, shape risk assessments, and drive actionable insights that support critical decision-making for business and management. You'll work alongside an exceptional team to have a direct impact on the Bank's risk management strategy, ensuring robust and accurate stress testing processes that support informed decision-making, regulatory compliance, and the Bank's overall risk appetite.

About the Team

Capital Markets Stress Testing and Data Analytics is at the center of several initiatives for both market and counterparty credit risk. This is a cross-functional group of risk professionals, quantitative analysts, and data experts, working together to support the Bank's broader risk management strategy. The focus is to provide in-depth analysis for stress testing scenarios and utilizations, ensure capital adequacy, and promote proactive risk management across all trading desks and portfolios. Close partnerships are maintained with senior leaders, trading desks, product specialists, model development, model validation, regulatory compliance, and technology.

The team's responsibilities span several key areas:

1. Elevate Stress Testing: We lead initiatives to integrate stress testing into the firm's risk culture, ensuring it is embedded across all capital markets products and enterprise exposures. This includes the design of stress scenarios, conducting scenario analysis for all trading books, and providing portfolio analysis to assess the impact on risk profiles. We aim to effectively use stress testing for decision-making, risk identification, and resilience planning.

2. Stress Testing Methodology: Our team is responsible for developing, refining, and enhancing stress testing methodologies for both market risk and counterparty credit risk. We focus on risk modelling (valuations and analytics), including but not limited to scenario design, scenario calibration, scenario generation, and implementation. We ensure our models align with best practices, accurately reflect the dynamics of the markets and counterparty exposures and help anticipate potential vulnerabilities in times of stress or market disruption.

3. Enterprise-Wide Stress Testing: We participate in Enterprise-Wide Stress Testing as subject matter expert for market risk and/or counterparty credit risk in the firm's response to regulatory requirements, ensuring compliance with key frameworks and global standards. This involves coordinating with internal stakeholders, ensuring that all regulatory submissions are accurate, timely, and aligned with both internal risk models and external expectations.

Is this role right for you?

This role is ideal for an energetic individual who possesses curiosity and drive, is passionate about capital markets, and is eager to apply analytical skills in a fast-paced environment. You will be actively engaged in discussions and collaboration with other groups within risk management as well as partners on the trading desks. You will also significantly contribute to the development, implementation, and enhancement of stress testing programs, and the management of the market data that supports market risk processes.

1. Implement Stress Testing Scenarios

• Scenario Exploration: Compile weekly summaries based on current market and financial environment to identify plausible scenarios by highlighting specific risk concerns.
• Scenario Implementation: Accurately implement new scenarios or modify existing ones as needed, ensuring timely execution.
• Analysis: Review stress testing results for plausible scenarios and effectively communicate insights.

2. Design Stress Testing Investigation Tools

• Visualization Tools: Create interactive and user-friendly Power BI dashboards.
• Training: Provide training to stakeholders to ensure effective utilization of the tools.
• Ongoing Development: Maintain and enhance the tools based on user feedback.

3. Assist Regulatory Stress Testing Programs

• Model Runs: Perform regular model runs related to enterprise and subsidiary regulatory requirements on a monthly and quarterly basis.
• Ad-hoc Requests: Actively initiate investigation on stress testing related enquiries.
• New Stress Testing Programs: Implement and develop new stress testing programs based on regulatory requirements under the guidance of senior team members.

4. Enhance Stress Testing Framework

• Continuous Improvement: Regularly review and update the framework to incorporate new data, scenarios, methodologies, and processes.
• Data Quality: Ensure stress testing related data are validated properly by automating review processes or by partnering with technology teams.
• Testing: Perform relevant testing in collaboration with team members or by partnering with various risk groups and stakeholders for stress testing methodology updates or technology migrations.
• Communication: Maintain open dialogue with model developers, risk teams, and business lines regarding various ad-hoc analyses, methodologies, documentation, reporting, and preparation of materials.

Do you have the skills that will enable you to succeed in this role?

• Graduated from a quantitative discipline such as (but not limited to) Economics, Financial engineering, Statistics, Physics, Engineering, Data science, or Mathematics, with a strong interest in risk, statistical modeling, research, and data visualization.
• 1-2 years of experience in capital markets, with good understanding of finance, derivative products, market risk and counterparty credit risk measures.
• Strong written and verbal communication skills.
• Solid quantitative skills with exceptional and creative problem-solving abilities.
• Ability to prioritize and multi-task in a fast-paced environment to meet deadlines.
• Attention to detail with the ability to work independently and as part of a team.
• Data analysis using programming languages/applications such as Python, SQL, Unix shell scripting, and Power BI.
• High proficiency in MS Office suite.

What's in it for you?

• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• An inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!
• Be at the forefront of innovation in risk management, utilizing cutting-edge tools, methodologies, and data analytics.
• A rewarding career path with diverse opportunities for professional and executive development.
• A comprehensive compensation and benefits package.
• An organization committed to making a difference in our communities - for you and our customers.

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.