At a Glance
- Tasks: Lead and oversee counterparty credit risk management in a dynamic banking environment.
- Company: Join a purpose-driven team at Scotiabank, committed to results and inclusivity.
- Benefits: Competitive salary, professional development, and a collaborative culture.
- Other info: Engage with teams across London and Toronto for excellent career growth opportunities.
- Why this job: Make a real impact on risk management strategies in a fast-paced financial setting.
- Qualifications: Bachelor's degree required; experience in market or counterparty credit risk preferred.
The predicted salary is between 60000 - 75000 £ per year.
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose
Leads and oversees Counterparty 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 counterparty credit risk in the London portfolios.
- Ensure that the London counterparty framework meets the standards of the bank and the local regulatory requirements of the UK regulators.
- Oversight of the counterparty 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 counterparty 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 counterparties 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 counterparty credit risk monitoring is appropriate to the current market conditions.
- Work with the credit teams on counterparty 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 counterparty 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 counterparty risk and market risk management concepts.
- Strong understanding of traded products and markets, to assess their impact on counterparty 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 counterparty 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 counterparty credit risk.
- Strong verbal and written communication skills to senior management and external regulators are required.
Location(s): England : Greater London : London (UK)
Director, Counterparty Credit Risk employer: Scotiabank
Join Scotiabank as a Director of Counterparty Credit Risk in London, where you will be part of a purpose-driven team that values inclusivity and high performance. With a strong focus on employee growth, the bank offers robust training programs and opportunities for advancement, ensuring that you can thrive in your career while contributing to a culture that prioritises client relationships and risk management excellence. Enjoy the unique advantage of working in one of the world's financial hubs, where collaboration with global teams enhances your professional experience.
