Manager, Enterprise Stress Testing
City : Toronto, ON, CA, M5H1H1
Category : Business and Financial Operations
Industry : Financial Services/Banking
Employer : Scotiabank
Requisition ID: 188534
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose of Job:
The successful candidate will help develop models for the Bank’s balance sheet and income statement across all major products and business lines. The resulting models will be used for various regulatory and internal purposes, including Enterprise-Wide Stress Testing, risk appetite metrics and balance sheet optimisation. The role requires understanding and quantitative modeling techniques, as well as strong interest and passion to learn financial concepts from business lines.
- Develop and maintain the Pre-provision net revenue (PPNR) models for the wholesale and retail portfolios using technology platforms, primarily in Python and R. The models will assess the impact of macroeconomic scenarios and contagion events, using internal expertise and historic information. The scope is over all revenue-generating products, including retail, non-retail and wealth. Primary (but not exclusive) drivers which need to be projected are business volumes and margins.
- Develop and implement regression models using highly developed technical skills for projecting revenue as a function of macro-economic time series variables
- Effectively inform and document model approaches, assumptions, model inputs used and modelling processes; work with the Model Validation team to assure timely and satisfactory validation
- Assist other stress testing staffs by providing and explaining the model results, collaborating with all business lines to discuss model output overlays
- Respond to inquiries from regulators, Audit and executive management about modelling results and techniques and any limitations or assumptions embedded in the models
- Execute and enhance the production runs for stress testing exercises
- Develop and maintain the technology platform for data visualization and enhanced review process
- Advanced degree in Economics, Finance, Statistics, Mathematics, Engineering or other related quantitative discipline. Some knowledge of accounting preferred. Excellent statistical skills, some experience within risk management, preferably in a model development role
- Proficiency in Python, R or related programming languages and platforms
- Advanced quantitative modeling skills (e.g., advanced statistical models, econometric models)
- Designation such as FRM, PRM or CFA are desirable
- The types of results produced by the models will cover a broad range of measures used in the Bank, such as capital, PCL and liquidity. Therefore the position requires a high degree of adaptability and the ability to learn new concepts quickly
- The incumbent should have strong communication skills. The position requires an ability to efficiently interact and inform with many stakeholders across of a variety of areas
- The candidate must exhibit maturity, balanced judgment, leadership and team skills
- Working knowledge of basic Linux or UNIX systems is desired. Experience with version control software (Git, SVN etc.) is an asset
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.