Scotiabank

Manager, ALM and Options Strategy

Scotiabank • $110K — $130K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Master's degree in Finance, Financial Engineering, Applied Mathematics, Computer Science, or related field required.
  • 3+ years of experience in banking, hedge fund, or capital markets, focusing on Finance, Treasury, Derivatives Trading, Structuring, or Market Risk.
  • Proficiency in Python, SQL, React, or similar frameworks, plus experience with risk analytics platforms like Bloomberg or QRM.
  • Strong communication skills to convey complex risk concepts to varied audiences.
  • In-depth understanding of derivatives pricing and risk sensitivities, with mastery of first- and second-order Greeks.
  • Hands-on experience with complex derivatives, including Total Return Swaps and structured products.
  • Knowledge of regulatory requirements such as IRRBB, FRTB, and CDIC Resolution. Allen.
  • Self-starter with strong organizational skills to manage tight deadlines.

Responsibilities

  • Manage end-to-end processes for non-linear hedging programs for Banking Book products.
  • Monitor and communicate the performance of hedging strategies involving structured products.
  • Analyze market volatility impacts on the Bank's structural risk profile.
  • Collaborate with trading desks and Risk Management to report on financial drivers.
  • Optimize hedge effectiveness across diverse market scenarios.
  • Develop analytics reports for risk and product optimization, including scenario analysis.
  • Enhance risk models and tools to evaluate complex derivative exposures.
  • Drive automation and documentation to boost operational efficiency.

Benefits

  • Diverse opportunities for professional growth and development.
  • Commitment to community impact and customer service.
  • Competitive rewards program with bonuses and flexible vacation.
  • Comprehensive benefits starting on the first day of employment.
  • Inclusive culture promoting diversity and employee participation through resource groups.
  • Commitment to accessible work environments with an emphasis on removing barriers.
Full Job Description
Requisition ID: 273222

The Balance Sheet Management team within Group Treasury is seeking a highly analytical and motivated Manager to support the Bank's Structural Interest Rate Risk (SIRR) programs, with a particular focus on managing non-linear risks. This role is ideal for candidates with a strong background in derivatives risk and regulatory requirements, including OSFI, CDIC, and FRTB. Experience managing non-linear exposures and working with complex instruments such as swaps, interest rate options, and total return swaps (TRS) is desirable.

Is this role right for you? In this role you will:
  • Manage end-to-end processes and communications related to non-linear hedging programs for Banking Book products with embedded optionality.
  • Monitor hedging strategies involving interest rate options and other structured products for performance and P&L attribution, and communicate results to various stakeholders.
  • Analyze the impact of market volatility, convexity, and customer behaviour on the Bank's structural risk profile.
  • Partner with trading desks, Risk Management, and Finance teams to report on program- and product-specific FTP and margin drivers.
  • Assess and optimize hedge effectiveness under various market scenarios.
  • Develop desk-specific analytics reports to support program optimization, risk reporting, and product optimization, including second-order risk metrics and scenario analysis, to engage business lines on market competitiveness.
  • Contribute to the development and enhancement of risk models and analytics tools used to evaluate complex derivative exposures.
  • Drive process automation and documentation to improve operational efficiency and transparency.
  • Participate in ad hoc projects related to advanced risk analytics, model validation, and regulatory reporting.


Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:
  • A master's degree in Finance, Financial Engineering, Applied Mathematics, Computer Science, or a related quantitative discipline.
  • 3+ years of experience in a bank, hedge fund, or capital markets environment, ideally in Finance, Treasury, Derivatives Trading, Structuring, or Market Risk.
  • Proficiency in Python, SQL, React or similar front-end/UI development frameworks, and experience with pricing and risk analytics platforms such as Bloomberg, QRM, or in-house systems.
  • Excellent communication skills, with the ability to explain complex risk concepts to both technical and non-technical stakeholders.
  • Demonstrated understanding of derivatives pricing and risk sensitivities, including first- and second-order Greeks.
  • Hands-on experience with complex derivatives, such as Total Return Swaps, interest rate options, and structured products.
  • A strong grasp of market volatility dynamics and convexity risk, including their implications for pricing, valuation, and the design of hedging strategies.
  • A strong understanding of bank regulatory requirements, including but not limited to IRRBB, FRTB, and CDIC Resolution.
  • Progress toward or completion of CFA, FRM, or other related designation is preferred but not mandatory.
  • A self-starter mindset with strong organizational skills and the ability to manage multiple priorities under tight deadlines.


What's in it for you?
  • A rewarding career path with diverse opportunities for professional development.
  • An organization committed to making a difference in our communities-for you and our customers.
  • A competitive rewards program that includes an annual bonus, flexible vacation, personal and sick days, and comprehensive benefits that start on your first day.
  • Diversity, Equity, Inclusion & Allyship - We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and embraced through bias-free practices and inclusive values across Scotiabank. We embrace diversity and provide opportunities for all employees to learn, grow, and participate through our various Employee Resource Groups (ERGs), which span diverse gender identities, ethnicities, races, ages, abilities, and veteran statuses.
  • Accessibility and Workplace Accommodations - We value the unique skills and experiences every individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone. Scotiabank continues to locate, remove, and prevent barriers so that we can build a diverse and inclusive environment while meeting accessibility requirements.


Location(s): Canada : Ontario : Toronto

About Scotiabank

Scotiabankers are committed to helping individuals, companies, and communities to thrive in a changing world. From personal and business banking, brokerage, and insurance, to private wealth, and the most sophisticated commercial, corporate and institutional services, they serve the diverse needs of some 21 million customers in more than 55 countries. Founded in 1832 in Halifax, Nova Scotia, their growth has always been fuelled by the success of their customers and their longevity secured by an unshakable commitment to carefully and expertly managing risk and capital. That focus on doing what's right for customers—short- andlong-term—has made us a global financial services leader. Headquartered in Canada, they are over 86, 000 Scotiabankers strong. Each of us are committed to being the best at understanding their customers' needs and all of us working together to deliver practical advice and relevant solutions that help their customers become financially better off.

Scotiabank Careers

Join Scotiabank, a premier financial institution, and become part of a diverse and inclusive team that’s leading the way in global banking. At Scotiabank, we offer more than just job opportunities; we provide a platform for professional growth and innovation in the financial services industry.

Work You’ll Do

At Scotiabank, we’re not just filling positions; we’re cultivating leaders. Dive into a workplace where diversity training and leadership development shape the path to your future. Our commitment to professional growth is evident in our robust training programs and continuous learning opportunities that foster innovation and strategic thinking.

Explore a World of Opportunities

Whether you’re looking for a full-time position, an internship, or a leadership role, Scotiabank has a spectrum of opportunities to fit your career ambitions. Our team is composed of individuals who bring a wealth of skills and perspectives to our company, driving us forward with their creativity and strategic insights.

Innovative Work Environment

Scotiabank’s culture is one of collaboration and respect, where each team member’s contribution is valued. Engage in meaningful work that challenges you to leverage your skills and push the boundaries of what’s possible in the banking sector. Our innovative projects not only support the growth of the company but also ensure our position as a leader in the industry.

Benefits and Growth

Choosing a career at Scotiabank means opting for a life of growth and opportunity. Our employees enjoy competitive benefits, including comprehensive health coverage, retirement plans, and flexible working conditions, all designed to support your career and personal life. We believe in nurturing our team’s potential by providing them with the tools they need to succeed both professionally and personally.

Join Our Team

Ready to take the next step in your career? Explore the job opportunities at Scotiabank by searching our open positions that match your skills and interests. We are continuously hiring and looking for passionate, curious, and solution-driven team players.

Networking and Professional Development

Stay connected and advance your career through Scotiabank’s extensive networking opportunities. Participate in events that connect you with other professionals and leaders within the industry. Our career resources will help you prepare your resume, ace your interviews, and land the job that best suits your career goals.

Stay Ahead

Keep up to date with the latest in career tips, industry insights, and company news—all from the people who work here at Scotiabank. Personalize your experience by subscribing to job alert emails tailored to your preferences and be the first to know about new openings and exciting developments. Join Scotiabank and be part of a team that values integrity, respect, and accountability. Discover how your career can flourish in an environment committed to your professional development and personal growth.
Learn more about Scotiabank
Size
90,619 employees
Market Cap
$57.5 billion
Industry
Finance & Insurance
5 Year Trend
+7%
NASDAQ
BNS
* Ladders Estimates

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