Manager, Enterprise Stress Testing (14-Month Contract) - Join Scotiabank in Toronto, Ontario

Requisition ID: 201710

Join a purpose-driven winning team at Scotiabank, committed to results in an inclusive and high-performing culture. Our Enterprise Stress Testing (“EST”) team is looking for a strong individual to help with credit risk stress testing of the Bank’s portfolio. This is an exciting opportunity to apply your technical skills and analytical mindset to build credit risk models and provide stress testing insights across diverse geographies and products.

Is This Role Right for You?

As a Manager in Enterprise Stress Testing, you will:

• Develop and implement credit risk models using Python, R, and SQL to forecast credit rating migration probabilities and project Probability of Default and Loss Given Default based on macroeconomic variables.
• Optimize code repositories for effective execution in the operational/production environment to produce stress testing results for Expected Credit Loss (ECL) and Risk-Weighted Assets (RWA).
• Build Power BI dashboards and other visualization tools to analyze multiple macroeconomic scenarios and provide a comprehensive view of the credit portfolio’s performance during stress.
• Collaborate with internal model development teams, including the Retail, Models & Analytics (RMA) team, and the IFRS9 modeling team to ensure stress testing models are up-to-date and compatible with the production environment.
• Perform supplementary analysis and construct overlay methodologies to consider emerging risk themes such as climate risk, geopolitical tensions, and high consumer indebtedness.
• Ensure compliance with applicable regulations and provide necessary information and ad-hoc analysis to regulators as required.

Do You Have the Expertise to Succeed in This Role?

We'd like to work with you if you have:

• An advanced degree in Economics, Finance, Statistics, Mathematics, Data Science, or a related quantitative discipline.
• Advanced quantitative modeling expertise (e.g., advanced statistical models, machine learning, econometric models).
• Experience working with large datasets and optimizing code speed.
• Proficiency in R or Python. Experience with Spark is an asset.
• Experience in credit risk modeling related to probability of default and loss given default. Stress testing experience is desirable.
• Strong communication skills with the ability to present analytical findings and business insights.
• General knowledge of a bank’s financial statement and understanding of credit products and provisions for credit losses (PCL).
• Working knowledge of RWA and capital requirements under Basel III regulations is an asset.
• Experience leading or working in transformational projects.
• Basic knowledge of Linux or UNIX systems is an asset. Experience with version control software (e.g., Git) is a plus.

What’s in It for You?

At Scotiabank, you will enjoy:

• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development and exposure to multiple aspects of the bank’s financial profile, such as balance sheet growth, provisions for credit losses, and capital adequacy assessment.
• An opportunity to become a subject matter expert and storyteller for our Canadian retail portfolio, explaining how the stress testing process works and what drives the portfolio’s losses.
• A competitive compensation and benefits package.
• An organization committed to making a difference in our communities – for you and our customers.
• An inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success.

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, and we are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation during the recruitment and selection process, please let our Recruitment team know. Candidates must apply directly online to be considered for this role. We thank all applicants