Senior Manager, Stress Testing

3 months ago


Dublin, Ireland Scotiabank Full time

Requisition ID: 204512

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

Purpose

As part of the wider Enterprise Risk team, the role holder will be responsible for stress testing and model risk management. He/She contributes to the overall success of the Risk Management Function in Scotiabank (Ireland) DAC (‘SIDAC’) ensuring specific individual goals, plans and initiatives are executed / delivered in support of the team’s business strategies and objectives. The role holder also ensures that all activities are conducted in compliance with governing regulations, internal policies and procedures.

Accountabilities

Models:

Responsible for model risk governance (e.g. policy/procedures updates, upkeep of model inventory, attestation process, issue tracking, issue closure, MI). Interacts with BNS Model Risk owners and validation teams to ensure inclusion of local requirements and deep understanding of models. Responsible for conducting local model validations/local suitability assessments and issuing recommendations to relevant committees. Develops and provides training to SIDAC in relation to model risk, specifically the model validation and approval process.

Stress Testing:

Responsible for the development of stress testing scenarios for the ICAAP, ILAAP, Recovery Plan, and Reverse Stress Testing. This includes narrative development and calibration of risk parameters. Executes stress testing programs, including review and analysis of outputs, reporting (Management Committees and/or Board), coordination of stakeholder inputs, etc. Responsible for annual update of the Reverse Stress Testing exercise. Liaises with counterparties in Scotiabank Toronto (Enterprise Stress Testing teams). Responsible for the development and maintenance of frameworks, policies, playbooks and procedures in relation to Stress Testing.

ICAAP:

Responsible for delivery of specific sections the ICAAP document following annual review, in particular Stress Testing and Model Risk Sections. Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions. Responsible for identifying and analysing applicable regulatory requirements as they are published. Champions a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge. Champions a high-performance environment and contributes to an inclusive work environment. 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. Contributes to a high-performance environment and fosters an inclusive work environment; supporting the vison/values/business strategy for the team. The incumbent is required to have the relevant fitness and probity to carry out the role and responsibilities in such a manner that the incumbent can comply with the Central Bank of Ireland 2011 Fitness & Probity Standards, as applicable to the role. In general, the Fitness & Probity Standards require the role holder to: be competent and capable; act honestly, ethically and with integrity; and be financially sound.

Competencies

Acts with professionalism and respect at all times. Exemplifies a strict ethical code to pursue honesty, integrity and transparency. Demonstrates strong communication skills, both verbal and written, and adjusts communication style depending on the situation. Develops effective relationships with business lines and other groups that fosters awareness of the Bank’s risk framework and the sharing of information. Takes ownership and demonstrates the ability to focus on what matters most, working at a fast pace and able to consistently achieve results despite disputing conditions (Results Focus). Acts as a role model and disputes employees to put the customer first and works cooperatively across departments to anticipate and serve customer needs (Customer Focus). Demonstrates self-awareness, seeks out feedback from diverse sources and consistently pursues personal development to increase skills, knowledge and capabilities. Demonstrates curiosity to bring external developments, trends and best practices to the Bank and constantly seeks improvement in how to deliver value to our stakeholders. Demonstrates resiliency in the face of disputes and obstacles; adjusts well to changing priorities and creates enthusiasm in self and others to move forward after setbacks. Demonstrates courage to express one’s view, confidently ask questions, respectfully dispute each other and our business partners, make decisions and learn from our mistakes. Puts team first and works effectively, respectfully and collaboratively with colleagues and business partners to achieve common objectives and for the betterment of the Bank.

Dimensions

This role reports to the Director Enterprise Risk and is part of the wider Enterprise Risk team in SIDAC (Dublin). Enterprise Risk in Dublin is supported by the global ERM team which also provides advice and counsel to ensure alignment across the Group.

The Enterprise Risk team (Dublin) focusses on a number of risk-related activities (including but not limited to):

Prudential Risk & Models (including Stress Testing); Risk Governance (Risk Management Framework, Risk Reporting, Risk Appetite Framework); Operational (including Third Party and Data) and IT/Cyber Risks Oversight; Environmental & Climate Risk Oversight;

This is a high-profile role with interactions with a range of functions within and outside SIDAC, including local C-suite positions, internal audit, local management committees and representation/advocacy of local perspectives in global group forums and in interaction with relevant BNS groups.

Education / Experience

Quantitative background, preferably with a degree in finance, economics, STEM or related areas (at NFQ Level 8); Strong experience in risk management in financial services, corporate and investment banking or related areas; Understanding of a capital/financial markets environment, which includes knowledge of corporate and investment banking products, time-sensitive deliverables, and fast-pace demands from stakeholders; Experience in stress testing and model risk management (validation or model development) is essential; Experience with European regulations with respect to stress testing, ICAAP, ILAAP and Recovery and Resolution planning would be an asset;
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