Director, counterparty credit risk, latin america (latam) lead, global risk management

Requisition ID: 276829

Salary Range: 185,400.00 - 310,600.00

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.

Global Banking and Markets 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 our 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 our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group. Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!

Position: Director, Counterparty Credit Risk, Latin America (LATAM) Lead, Global Risk Management

Purpose

The Counterparty Credit Risk – LATAM Lead will provide regional leadership and independent second-line oversight of Counterparty Credit Risk (CCR) across Latin America. The role will be responsible for establishing a consistent, comprehensive and sustainable CCR framework across LATAM while ensuring appropriate recognition of local regulatory, legal, market and business requirements. The role will serve as the principal regional point of coordination between Global CCR, local CCR and Risk teams, Credit Officers, Legal, business lines and other control functions. The position will translate global CCR standards into effective local execution and ensure that emerging regional considerations are appropriately reflected in the global framework. This aligns with the proposed LATAM model of a single regional CCR owner with functional accountability to Global CCR and close connectivity with local risk teams.

Accountabilities

• Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Regional CCR leadership and governance: Lead the LATAM CCR agenda and coordinate activities across local CCR and Risk teams, establishing clear ownership, escalation and governance. Drive consistent application of global CCR policies, methodologies, metrics and standards while accommodating legitimate local regulatory requirements.
• CCR framework development: Build out and continuously enhance the regional CCR framework covering derivatives, Securities Financing Transactions (SFTs), margin lending and other activities generating counterparty exposure. Ensure appropriate coverage of exposure measurement, PFE, collateral, concentrations, wrong-way risk, limits and escalation. These areas are consistent with the Bank's broader CCR framework.
• Risk appetite and limits: Partner with Credit Officers and Global CCR to establish and maintain appropriate regional and country-level risk appetite, limits and escalation thresholds. Provide independent challenge regarding concentrations, counterparties, products and business proposals. The existing framework provides for ongoing monitoring and remedial action as exposures approach or exceed risk appetite.
• Stress testing: Establish and oversee a comprehensive LATAM CCR stress-testing program, including appropriate coverage of material counterparties, products, concentrations and country-specific vulnerabilities. Ensure consistency with the global stress framework while incorporating LATAM-specific risk factors and scenarios. Stress testing is a core component of the existing CCR framework and supports concentration and wrong-way-risk monitoring.
• Legal documentation and terms: Partner with Legal, Credit and the business to drive standardization of counterparty credit terms, including collateral, margin, netting, termination and other material credit provisions. Establish governance for exceptions and ensure non-standard terms receive appropriate independent risk review. The current CCR framework specifically provides for Credit review of non-standard trade documentation and approval in conjunction with Legal and trading management.
• Business growth and new initiatives: Provide CCR oversight and constructive challenge for growth initiatives across LATAM, ensuring new products, markets and counterparties have appropriate risk appetite, limits, documentation, stress testing, data and controls before launch. This is particularly relevant as current LATAM initiatives include expansion of emerging-market financing and structured products.
• Regulatory oversight: Monitor the evolving regulatory environment across LATAM jurisdictions and assess its implications for CCR. Coordinate implementation of regulatory requirements and maintain appropriate evidence, governance and issue tracking. The proposed regional operating model specifically identifies country-level regulatory readiness as an enduring responsibility of the LATAM CCR Head.
• Portfolio oversight: Maintain an integrated view of the LATAM CCR portfolio, including exposures, concentrations, collateral, stress results, limit utilization, exceptions and emerging risks. Identify potential deterioration or concentrations early and coordinate appropriate mitigation and escalation.
• Global consistency and local implementation: Drive convergence toward common global methodologies, policies, data standards, reporting and governance while ensuring local requirements remain appropriately addressed. Current internal work identifies incomplete LATAM coverage and an undefined regional monitoring/reporting RACI as issues requiring remediation.
• Data, infrastructure and controls: Partner with Technology, Analytics, Operations and local teams to improve completeness and quality of regional CCR data and ensure LATAM activity is appropriately incorporated into global monitoring and reporting infrastructure. Internal work has specifically identified locally booked LATAM activity and International Banking SFT exposure as areas requiring fuller enterprise integration.
• Senior stakeholder management: Represent LATAM CCR in appropriate regional and global risk committees and provide clear communication on portfolio risk, business initiatives, regulatory developments, limits, stress testing and emerging concerns. Coordinate responses to regulatory examinations, audit activity and remediation programs.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Actively pursues 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.
• Champions a high performance environment and contributes to an inclusive work environment.

Reporting Relationships

Primary Manager: Managing Director, Global Head of Counterparty Credit Risk

Dimensions

• Oversight of LATAM CCR teams and consolidate efforts to global framework
• Ensure LATAM regulatory as it relates to CCR are addressed

Education / Experience / Other Information

The successful candidate should have substantial experience in counterparty credit risk, traded products or an adjacent credit-risk discipline within a complex financial institution, with strong knowledge of derivatives and SFTs. Experience designing or implementing CCR frameworks, risk appetite, limits, stress testing, collateral/margin frameworks and legal-documentation standards is important. The role also requires strong familiarity with the regulatory environment affecting CCR, demonstrated experience working across multiple jurisdictions and legal entities, and the ability to partner effectively with Credit Officers, Legal, Market Risk, front-office businesses, Operations, Technology and senior risk leadership. Strong executive communication, independent challenge and the ability to lead complex cross-functional initiatives without relying solely on direct reporting lines will be critical.

Working Conditions

Work in a standard office-based environment; non-standard hours are a common occurrence.

Interested? If your experience is closely related but doesn’t align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank! At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture.

What's in it for you? Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

#GBM

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.