Director, Prime Services Risk (in - business)

Director, Prime Services Risk (In-Business)

This role will be focused on Scotiabank GBM's global repo portfolio, providing a detailed risk perspective to help the business make informed decisions. The role requires a deep understanding of the repo product across asset types including government, supranational, corporate bonds, CLOs, ABS, RMBS and CMBS. USD, CAD, EUR and GBP are the main currencies of coverage. The role will sit in-business reporting to the first line and report to the Managing Director, Head of Front Office Prime & Repo Risk.

What you'll do:

• Analysis of counterparty risk across a variety of client types, with a focus on hedge funds
• Sales support: assist the sales force by discussing margin and risk appetite with clients; analyze prospective client portfolios and provide margin analyses; work with internal groups to get credit approval
• Negotiate risk- and margin-related legal terms with clients; work with internal and external counsel on margin lockup agreements
• Coverage: day-to-day coverage of the margin process for clients on the US PS platform; answer client inquiries about margin
• Work with the firm's independent risk management function to manage market, credit, liquidity, and operational risk
• Design and improve risk, margin, and control reports for clients and management; write business requirement documents and create report prototypes for IT; work with IT on implementation and validation; work with the product development team to manage and prioritize tasks
• Monitor client and business line credit limits and utilization- work with internal groups to manage limit breaches
• Develop and refine procedures

What you'll bring:

• Requirements:
• Background in prime brokerage risk
• Understanding of equity markets
• Comfort with quantitative concepts
• Excellent communication skills, both written and oral
• Proficiency with Microsoft Excel
• Proficiency with Bloomberg, including Excel API
• Desired skills/experience:
• Proficiency with VBA and/or Python
• Proficiency with Microsoft Access and/or SQL
• Familiarity with security pricing models (options, converts, bonds) and/or risk modeling (VaR, stress-testing)
• Knowledge of US securities law and margin concepts (such as Securities Act of 1933, Securities Exchange Act of 1934, Investment Company Act of 1940, Regulation T, Regulation U, FINRA 4210)
• Series 7 & 63 licenses
• Experience with structured credit products including CLOs, ABSs, and MBSs