Managing Director, Head of Financing Risk

Requisition ID: 260213

Salary Range: 400,000.00 - 400,000.00

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

Location: New York, NY
Title: Managing Director, Head of Financing Risk

The Head of Financing Risk plays a critical role in the growth of Prime Services, CMF (repo trading), and Future & Clearing, providing risk management oversight. This role leads and oversees the Financing Risk teams globally, ensuring business strategies, plans, and initiatives are executed/delivered in compliance with governing regulations, internal policies, and procedures. Engages with the Global Head of Financing (Prime Services, CMF, Futures & Clearing) and functional and regional heads to identify and manage risks related to the business and provide solutions to mitigate risks related to new client opportunities. Works closely with risk partners in the bank to identify and mitigate risks.

Responsibilities

• Leads and drives a customer-focused culture throughout their global team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Supervises the day-to-day margin and risk process for clients on the Prime Services and CMF platforms performed by the global Prime Services Risk and CMF Risk teams; acts as an escalation point for any issues.
• Work with the Head of Futures & Clearing Solutions to build out the risk needs for the newly created business line with Financing.
• Supports the sales team by discussing margin and risk appetite with clients; negotiates margin levels and methodologies; works with internal groups to get credit approval; works with internal and external counsel on margin lockup agreements.
• Oversee the design of margin methodologies to address the risks in financing clients’ portfolios while also being marketable.
• Supervises and coordinates with IT, TFRM, Credit (GRM and GCMB), and others on projects involving risk in Prime Services.
• Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates an environment in which their team members pursue effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct, and the Global Sales Principles while ensuring the adequacy, adherence to, and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions, and conduct risk.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates his 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.

Education/Work Experience

• Undergraduate Degree (postgraduate an asset is a related field)
• Registered with FINRA; Series 7 (general securities representative), 63 (state law), 24 (principal), 4 (options principal)
• 15+ years' experience in Financing Risk Roles. Subject matter expert in all aspects of prime services risk and margin, futures and clearing risk, repo risk and margin, including structured credit
• In depth knowledge of security pricing and risk models
• Strong knowledge of US securities law and regulations
• Knowledge of IT systems

Location(s): United States : New York : New York City

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.

Scotiabank is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by federal, state, or local law.