Senior Manager, Market Risk

1 week ago

Raffles Quay, Singapore Scotiabank Full time

Requisition ID: 193019

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

**Purpose**
Management of Liquidity and Market risk in the Asia Pacific. Ensures activities conducted are in compliance with governing regulations, internal policies and procedures.

**Accountabilities**
- Champions a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions and champions their adoption.
- Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
- Champions a high-performance environment and contributes to an inclusive and collaborative work environment.
- Proactively engage and develop effective relationships with business lines - Treasury, Foreign Exchange, Fixed Income - to foster open communication, exchange of information and adherence to the Bank's risk policies and frameworks.
- Foster strong partnership with Head Office and global risk management teams. Communicate with teams at Head Office and other global locations to share best practices and knowledge of policies, frameworks and processes. Communicate and promote knowledge of operations and risks in the Asia Pacific.
- Identify and assess risks in the Treasury and Foreign Exchange portfolios, ensuring consistency with the Bank’s risk appetite and the approved business mandate.
- Identify issues that require escalation to senior management and provide recommendations for resolution.
- Discuss positions, P&L and risks with the desks, and communicate with senior management locally and in Head Office.
- Monitor risk exposures and positions. Prepare daily liquidity reports, monthly/quarterly reports for Regional and Local ALCO and Board meetings and ensure consistency across the region.
- Maintain procedures and documentation related to risk management and risk reporting.
- Carry out annual limit reviews, policy reviews, limit amendments, and new business/product proposals and ensure their completion in a timely manner.
- Undertake model validation to support model risk attestation. Review computations of key liquidity coverage metrics.
- Review risk policies and frameworks (including those covering liquidity risk, collateral management, structural risk, liquidity stress testing, valuations) and ensure consistency across APAC region and alignment with Head Office standards.
- Review and provide advice and counsel on Liquidity Stress Testing frameworks and exercises.
- Opine on market and liquidity risk implications of new initiatives, trading strategies and product/market entry.
- Respond to information and review requests from local regulatory authorities. Participate in audits and reviews performed by Scotiabank’s Internal Audit department, external auditors, Scotiabank Compliance team, and others.
- Stay up-to-date with regulatory developments pertaining to Liquidity and Market risk management. Conduct gap analysis of regulatory changes where relevant, and ensure regulations and guidelines are complied with.
- Stay up-to-date developments within the enterprise-wide Market Risk group and ensure objectives are achieved for the Asia Pacific.
- Monitor current market and business developments in the Asia Pacific, assess their risk implications and advise Business and Senior Management accordingly.
- Communicate the bank’s strategy and direction to regulators and correspondingly update enterprise Market Risk Management team on audit and regulatory activity and any changes to local regulations.
- Coach and support local risk managers in the region to ensure appropriate oversight of Treasury, Liquidity and Market risk.
- Support the Chief Risk Officer with regular and ad hoc risk related projects or initiatives as required for APAC.
- Material Risk Personnel (MRP): The incumbent is appointed as a MRP in accordance with MAS’ Guidelines on individual Accountability and Conduct. The incumbent has the authority to make decisions or conduct activities that could materially impact the Bank’s risk profile. For Singapore matters, the incumbent is accountable to the Singapore Head of their respective Functions.

**Reporting Relationships**
Primary Manager: Chief Risk Officer, Asia Pacific
Governance Accountability: Appointed Material Risk Personnel (MRP) under the Monetary Authority of Singapore’s (MAS) Individual Accountability and Conduct (IAC) Guidelines

**Dimensions**
- This position covers Globa

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