Velocity- Global Risk Management, Market Risk Internship/ Co-op - Fall 2022

June 23 2022
Industries Bank, Insurance, Financial services
Categories Accounting, Finance, Accounting, Finance, Accounting, Finance, Bank, Insurance, Financial services, Bank, Insurance, Financial Services, Credit, Risk, Management, Administration, Marketing, Communications, Public Relations, Marketing, Communications, Public Relations
Toronto, ON

Requisition ID: 152096

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Velocity – Global Risk Management, Market Risk Intern

Fall 2022 (4 Months: September – December)

Position Close Date: Friday, May 27th, 2022

There's no better way to find your dream job than to do a co-op or internship with Scotiabank! During your work term, you’ll have the opportunity to be part of a winning team, build your network, and discover what you love – all while getting paid to do it! There’s a place for every type of student at Scotiabank and all that we ask for is that you have passion and strong AOO (Attitude, Ownership and Opportunity).

The Velocity Program is not your average internship or co-op! This is a customized experience that focuses on providing you with the development and tools you need to grow your career. After successfully completing a co-op or internship with top performance, we will work with you to establish your future placements. As a result, you will get to learn, grow, and experiment within different areas of both Scotiabank and Tangerine!

Is this role right for you? In this role, you will:

Are you someone who is fascinated with the financial market and the complexities that come with the risks associated to it? Are you someone who wants exposure to an opportunity that will allow you to combine your soft and technical skills? Is working in an environment that is changing day to day a dream of yours? If you answered yes to any of these questions, then this is the place for you!

Market Risk Measurement, Global Risk Management is responsible for implementing models to quantify the risks in the Bank’s trading activities. The main risks considered are:

  • Market risk. The risk associated with the Bank losing money due to adverse market movements negatively affecting the values of derivatives and assets held in its trading books
  • Counterparty credit risk. The risk associated with the Bank losing money due to being owed by its counterparties on derivatives and the counterparty not honoring its obligations due to default or other credit events

These two categories share many features since they both require simulation of future possible values of our portfolios of derivatives and trading assets. It is a very complex problem to do this in way which maintains rigor when looking at any one component but also rolls up correctly so that the view of risk aggregated across all positions also makes sense.

What will I contribute toward?

  • Assisting with the integration of new products into our simulation models in market / counterparty credit risk
  • Supporting processes around regulatory approach for market / counterparty credit risk
  • Conducting tests to quantify the significance of some modeling assumptions
  • Assisting with reporting and other back end processes, such as enterprise exposure reporting and stress testing
  • Testing of new data feeds

Do you have the skills and requirements that will enable you to succeed in this role? – We’d love to work with you if:

  • Strong quantitative skills
  • Python and/or C++ coding skills and other scripting languages (R, Unix shell scripting, etc.)
  • Basic MS Office suite abilities

What’s in it for you?

  • You’ll be part of a diverse, collaborative, innovative, and high-performing team.
  • In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
  • Exclusive student events such as Scotia Student Day, Lunch & Learns, leadership panels, and much more!
  • Bank-wide orientation to learn more about Scotiabank and gain exposure to senior leadership across the organization.

How do I apply?

Please complete all three steps below:

  1. Complete your PLUM Profile here and save as a screenshot.
  2. Complete a short one-way video interview here.
  3. Apply to the role and when the application asks for your resume, instead upload the screenshot of your PLUM Profile.

We thank you all for your interest in Scotiabank! However, only those selected for an interview will be contacted. If you require accommodation during the recruitment and selection process, please let us know. We will work with you to meet your needs.

*To be considered for student opportunities at Scotiabank, Tangerine, and MD Financial you must complete all three steps above.

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 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.

Apply now! network