Manager, Balance Sheet Market Risk - Toronto, ON

Requisition ID: 263321 

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

Work location: 40 King St. West, Toronto ON

Scotiabank is looking for a manager to assist the Senior Manager, Balance Sheet Market Risk in leading a team of risk professionals, with a focus on the effective execution and continuous improvement of the team’s functions. 

The role involves maintaining and enhancing reporting processes that provide Senior Management and business lines with clear and reliable risk metrics. The Manager will contribute to the development and execution of the group’s risk oversight and governance framework, ensuring compliance with regulatory requirements such as OSFI guidelines, Basel standards, and U.S. Federal Reserve expectations.

The position will also play a key role in advancing the Bank’s stress testing framework, including the implementation and maintenance of systems, as well as the design and refinement of reports. The analysis generated from these processes will support both internal decision-making and external regulatory reporting.

Is this role right for you? In this role, you will:

Risk Reporting:

• Lead end-to-end preparation of the Bank’s U.S. Structural Interest Rate Risk (SIRR) report using BancWare, including data ingestion and validation, yield-curve construction and shock design, scenario execution, output reconciliation with front-office numbers, and production of regulator-ready templates and management commentary.
• Produce a quarterly risk report that synthesizes BancWare outputs and peer/market analysis to highlight trends, drivers and emerging risks in the Bank’s balance sheet.
• Develop and maintain automated production checks and exception-reporting that accelerate delivery while preserving accuracy and auditability.
• Oversee monitoring and evaluation of structural limits and control metrics that provide governance over Treasury functions, and prepare supporting analysis for senior management and regulators.

Risk Oversight/Governance:

• Participate in and lead elements of the group’s second-line oversight for structural interest rate risk using BancWare.
• Execute the monthly parallel run of Group Treasury’s BancWare model, performing an independent rebuild of balance-sheet cash-flow mappings, harmonizing assumptions, applying the same shock matrices, and reconciling KRD, NII and other metrics between first-line and second-line results. Document and escalate material variances for remediation.
• Conduct detailed KRD analytics within BancWare, including decomposition, attribution and sensitivity testing across tenor buckets and non-linear behaviors.
• Communicate directly with BancWare support for troubleshooting and resolution of process issues, coordinating system fixes and patches to ensure uninterrupted reporting and model integrity.
• Design and maintain model validation tests, change-control logs and regression suites to ensure ongoing model integrity and to support both internal audit and regulator enquiries.
• Act as a primary point of contact for cross-business line assumption setting (deposits, prepayments, behavioural parameters) and coordinate updates to ensure consistent inputs across front and second line.
• Maintain governance documentation: model design notes, run-books, reconciliation templates, testing results, and regulator-grade submission packages.

Enhancement of models and metrics

• Lead identification and specification of enhanced metrics and modelling refinements in BancWare (for example, customized KRD computation that captures specific customer behavior and curve dynamics).
• Implement improvements to strengthen risk capture and scenario representation (e.g., deposit decay/prepayment treatment, shock application logic, attribution outputs), and validate changes through back-testing and sensitivity analysis.
• Integrate BancWare outputs with the Bank’s analytics platform to enable downstream reporting, exception tracking and management dashboards while preserving audit trails.

Ad Hoc Projects

• Monitor applicability of OSFI B-12 and other regulatory standards, assess impact on ALM reporting and controls, and support remediation or uplift workstreams.
• Represent second line on cross-functional working groups and regulatory initiatives — preparing technical input, designing test cases and translating regulatory requirements into model controls and reporting artifacts.
• Accept and lead additional group projects and ad-hoc management reporting that require deep institutional modelling knowledge.

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:

• University degree in Finance, Economics, or quantitative field (finance, science, math, engineering).
• Master’s degree/FRM/CFA or working towards those certifications is an asset.
• Experience in asset and liability management.
• Proficiency with Bancware is required.
• Strong database and spreadsheet skills are required.
• Strong communication and writing skills are required.
• Familiarity with programing software like Python or Matlab; and visualization software like Tableau is required
• Familiarity with accounting principles and traded financial products is an advantage.
• Language of work: English.

What's in it for you?

• We have an inclusive and collaborative work environment that values curiosity & ownership, encourages pragmatic creativity (i.e. true innovation), and celebrates success!
• An inclusive working environment that encourages creativity, curiosity, and celebrates success!
• A rewarding career path with diverse opportunities for professional development
• Internal training to support your growth and enhance your skills
• A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision and dental benefits that start from day one and much more!

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.