Senior Manager, Country Risk Management - Toronto, ON

Scotiabank - Toronto, ON (30+ days ago)

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Requisition ID: 84653

Join the Global Community of Scotiabankers to help customers become better off.

The Country Risk Management team is primarily responsible for overseeing the Bank's Cross-border risk exposure through managing and monitoring the Bank's Cross-border Limits, supporting other credit areas and Banking; and continually developing the Bank's Country Risk methodology. Country rating and cross-border limit-setting have a critical impact on the Bank's "bottom line" in terms of potential cross-border asset growth and profitability.


1. Country Ratings

  • Provides sound and timely country risk research and rating opinions to Senior Management, Banking and other Global Risk Management (GRM) areas, by monitoring economic, socio-political, and environmental events around the world that may impact the Bank’s exposure to countries or regions;
  • Evaluates and recommends the appropriate IG risk rating for sovereigns and for capping cross-border risk assets, using sound risk analysis and employing the Bank’s internal rating methodology in a consistent, replicable, and transparent manner;
  • Coordinates with Banking and other departments for the preparation of strategy papers with respect to management of cross-border risk portfolios;
  • Contributes to the development of sound analytical standards and the ongoing improvement of our risk rating methodologies, by researching and employing the latest best practices in country risk analysis and management.
2. Cross-border Limits

  • Evaluates and recommends appropriate cross-border limits to ensure the Bank’s cross-border risk exposure is effectively diversified, is appropriate relative to country risk, and supports the Bank’s business growth strategy;
  • Coordinates requests for changes in cross-border limits with all key stakeholders (e.g. country and regional heads, product heads, other GRM areas) to ensure the recommendation to Senior Management represents a fair and balanced view between the need of the business and the need to protect the Bank from undue country risk;
  • Monitors adherence to cross-border limits and cross-border limit reporting requirements, and recommend actions where negative trends or irregularities are identified;
  • Contributes to ongoing development of cross-border methodologies, guidelines, processes and systems to improve the accuracy and timeliness of cross-border limit reporting.
3. Credit Adjudication

  • Conducts credit adjudication for selected Sovereign & Central Bank counterparties and provides prompt and sound recommendations (including relevant Country Risk,Cross-border Limit issues etc.) to Senior Management. - Will also conduct adjudication for corporate accounts under the Asia Pacific portfolio, providing high quality and timely service to business units with transactions primarily in Asia Pacific.
  • Thoroughly reviewing documentation to confirm the credit approved is correctly reflected and recommending amendments, as required, so that the Bank's interests are fully protected.
  • Ensure compliance with other reporting requirements are adhered to and assess monthly/quarterly reporting packages per Bank guidelines.
4. Reporting & Special Projects

  • Contributes to the preparation of the annual Country Risk Board Report.
  • Contributes to the preparation of quarterly Cross-Border Exposure and Enterprise Risk Management reporting.
  • Undertakes Special projects both within the group and with other areas.
5. Development of Internal Country Risk Discipline

  • Ensures Banking and other GRM areas receive appropriate and meaningful feedback on the identification and understanding of country risk as it impacts their portfolio, so as to ensure that cross-border risk assets are properly reported and evaluated in the credit approval process .
  • Provides country risk research and opinions to Banking to support their sovereign credit proposals (and other cross-border credit proposals when requested), to ensure that country risk research is not duplicated in other areas of the Bank and that the country risk IG used by the Bank is consistent across the organization
What we're looking for?

Post-Secondary Education in Economics or related field is required
Sound background in economics and political sciences and must keep abreast of international developments across all spectrums – political, economic, financial, regulatory, that may impact the Bank’s cross-border risk exposure.
Strong Financial Analysis experience gained in the financial industry and ability to analyze complex financial statements
Strong oral and written communication skills .
Good organizational skills, as well as the ability to perform multiple priorities while maintaining high quality work.
Solid interpersonal and problem-solving skills. Ability to perform effectively in a team.
Ability to conduct thorough financial statement analysis and in-depth credit assessments of existing and potential customers in a variety of industries and countries, including forward-looking projections.
Proficiency in word processing and spreadsheet applications of standard software packages - Microsoft Office.

This position is located on King St W, downtown Toronto

Location(s): Canada : Ontario : Toronto

As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.

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.