Client:
Location:
Dublin, Ireland
Job Category:
Other
EU work permit required:
Yes
Job Reference:
7dbd3243833e
Job Views:
89
Posted:
22.01.2025
Expiry Date:
08.03.2025
Job Description:
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
* 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 of 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.
* Contributes to a high-performance environment and fosters an inclusive work environment; supporting the vision/values/business strategy for the team.
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) focuses on a number of risk-related activities (including but not limited to):
* Prudential Risk & Models (including Stress Testing);
* Operational (including Third Party and Data) and IT/Cyber Risks 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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