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About the Role

Leads and oversees US Hedge Fund Credit and Counterparty Credit, ensuring business strategies, plans, and initiatives are executed and delivered in compliance with governing regulations, internal policies, and procedures. This role is a second-line risk function supporting profitable growth by setting risk standards, ensuring regulatory compliance, and controlling risks.

Responsibilities

Leads and drives a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
Adjudicates on proposals within assigned limits, provides recommendations for over-limit/out-of-policy deals and market risk limits to the Senior Credit Committee, and authorizes waivers, amendments, and non-standard documentation.
Leads strategic initiatives to enhance and align the firm’s CCR framework, ensuring consistency in limit setting, collateral standards, escalation processes, and governance in line with regulatory expectations.
Develops policies, guidelines, and strategies, and cascades them to appropriate business development groups.
Provides sound and timely decisions on credit/business proposals within assigned credit limits through thorough analysis with suitable structure, pricing, conditions, monitoring, and security.
Ensures the existing portfolio is maintained at an acceptable quality and risk level through regular monitoring, assessment of products and structures, and escalation of issues.
Responsible for defining mechanisms to close identified regulatory gaps, ensuring remediation work is delivered on time.
Defines specific risk appetite metrics and mechanisms to ensure appropriate control over all related business activities.
Drives cultural change.
Oversees team adjudication decisions and ensures appropriate recommendations are made for more senior adjudication.
Develops the team's analytical capabilities.
Creates an environment for effective and efficient operations in accordance with Scotiabank’s Values, Code of Conduct, and Global Sales Principles.
Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates the team.
Owns end-to-end enablement of new product and business initiatives, driving timely execution through robust CCR control frameworks, governance processes, and system enhancements.
Leads the development and enhancement of CCR policies, standards, and procedures, and drives stakeholder socialization, training, and consistent interpretation.
Serves as a central coordinator across CCR initiatives, ensuring alignment between policy, systems, governance, and risk appetite.
Prepares and coordinates materials for senior management, regulatory examinations, and audits.
Represents the CCR team in CCAR and broader stress testing governance activities.
Assists in managing the day-to-day counterparty limit monitoring process.
Identifies and drives opportunities to incorporate data analytics and AI-driven solutions into CCR processes.

Requirements

Solid knowledge of Hedge Fund strategies and risks related to Hedge Funds gained through at least 10 years of experience at other institutions.
Experience dealing with regulators.
Experience with Counterparty Credit Risk including Stress Testing.
Knowledge of OSFI, PRA and FRB Counterparty Credit Risk Guidance.
Excellent problem-solving, analytical, and decision-making skills.
Ability to present to senior leaders.
Solid organizational skills and ability to manage large-scale complex projects.
Strong collaboration skills to work with different stakeholders and build positive relationships.
Ability to think both tactically and strategically to close specific Regulatory findings.
Ability to drive cultural change from a process-driven to a proactive innovative culture.
Leading the development of systems and tools to ensure Counterparty exposures are properly understood and issues are quickly escalated.

Skills

Counterparty Credit Risk
Stress Testing
Hedge Fund strategies
Risk management
Data analytics
AI-driven solutions

Location

United States : New York : New York City

Work Type

Standard office-based environment
Non-standard hours
Moderate travel internationally

Experience Level

Director
10+ years experience

Education Level

Business degree

Salary/Compensations

185,400.00 - 310,600.00

Benefits

Flexible benefit programs designed to help support unique family, financial, physical, mental, and social health needs.

About the Company

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years.
Scotiabank’s strong U.S. presence provides clients an important bridge to this key global market for trade and investment flows across the Americas and the world.
Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of clients.
Scotiabank is a leading bank in the Americas.
Guided by our purpose: 'for every future', we help 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.

Equal Opportunity

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.
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.