Business Analyst, Capital Markets

  • Location: Toronto, Ontario
  • Type: Contract
  • Job #1479

Business Analyst, Capital Markets

Hiring Manager: Senior Manager, BA Derivative Trading, Risk and Valuation
Location Address: WFH (40 King Street W, 23rd Floor when BCP lifted)
Contract Duration: 6 months + extension up to 1 year
Number of Positions: 1
Schedule Hours: 9am-5pm

Story Behind the Need
• Business group: The XVA Technology team within the Derivatives Trading and Risk group ensure Value Adjustment for OTC derivative products have been accurately priced while ensuring Risk and Valuation precisely captured for traders, trade floor management, and risk groups.
• Project: The team is completing Phase III of the XVA project and have completed 80% onboarding of multiple derivative products within the bank, leveraging GPU from cloud for calculation. The focus is to analyze the trade and market data from the source systems and normalize them into the XVA engine. Candidate will be completing any FRTB related Milestones for XVA. The candidate will be directly working with Scotiabank regulatory team, and counterparty risk

Candidate Value Proposition
The successful candidate will have the opportunity to apply Risk and Valuation knowledge on OTC derivative products while using latest technologies to manage performance for complex XVA calculations (i.e. Angular, Redis, Elastic Search, Kafka, GPU)
• The successful candidate will also work with traders, trade floor risk, cparty risk, market risk, product control and other various technology groups.

Typical Day in Role
• Working with key stakeholders within all business functions to align technology solutions with FRTB requirements
• Gathering requirements from business units and translates those to programmers and developers
• Preparing cost-benefit and return-on-investment analyses to aid in decisions on system implementation
• Demonstrating an informed knowledge of business functions to resolve problems and capitalize on improvement opportunities
• Supporting one or more highly complex business processes
• Working on multiple projects as a project team member
• Serves as a liaison between the business community and the IT organization in order to provide technical solutions to meet user needs

Candidate Requirements/Must Have Skills:
1) 5 + years’ experience as a Business Analyst managing Derivative products
2) 5 + years’ experience managing Risk, P&L or Market Risk within the Capital Markets Industry
3) Strong derivative product knowledge relating to product features, valuation, and risk calculation
4) Strong communication skills to clearly articulate business requirements to technical teams – will have the opportunity work with senior stakeholders, traders, and business units

Nice-To-Have Skills:
• Previous XVA experience is a plus and will be prioritized
• Previous working experience on risk and valuation relating to commodity, FX, Equity, or TRS
Experience programming with Python or any Scripting language (Shell, Korn)
– Previous Experience with FRTB is strongly preferred

Degrees or certifications:
• Bachelor's degree in a technical field such as Math, Finance, Computer science, Computer engineering or related field required
• CFA / FRM certifications are a plus

Candidate Review & Selection
• 2 Step Process: 2 Interviews through Microsoft teams (1 technical; 1 senior leadership)
• Hiring Manager’s availability to interview: ASAP

Additional Notes:

– The successful resource will need to know how to perform evaluations related to Commodities and equities products
– Business knowledge; previous experience with evaluation roles and have background in technology will do well in this environment
o To understand the different models, the successful contractor needs to have a quantitative approach to business logic and evaluations will be required
– Experience working with multiple OTC derivative products will do well; contractor needs to have a clear understanding and balance the functionality of business needs while evaluating the specific products used
– International experience is ok as long its relevant and using similar OTC derivative products
– Job titles are ok to be different – as long as they have a financial modeling background and understand the quantitative approach
XVA manages a lot of data – will be reviewing and need to use some sort of script to help with analysis (often it is usually Python or Shell) without this it will be difficult to understanding the skillset