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Director - eFX Quant Strategist - Job Opportunity at Scotiabank

New York, United States
Full-time
Senior
Posted: March 31, 2025
On-site
USD 300,000 per year

Benefits

Comprehensive flexible benefits program focusing on holistic wellbeing
Family support programs with flexible arrangements
Financial wellness benefits aligned with banking sector standards
Physical and mental health coverage exceeding industry norms
Work-life integration support systems

Key Responsibilities

Lead strategic development and scaling of eFX quant trading operations with P&L responsibility
Drive innovation in high-frequency trading systems and risk management frameworks
Architect next-generation pricing engines and execution optimization strategies
Spearhead machine learning integration for trading performance enhancement
Direct cross-functional collaboration between trading and technology teams
Oversee regulatory compliance and risk management protocols

Requirements

Education

Advanced degree (PhD or Master's) in STEM field

Experience

7+ years in eFX quantitative research, trading, or technology

Required Skills

Deep understanding of eFX market structure Expertise in building eFX pricing and risk models Proficiency in C++, Java, Python, or KDB+/q Strong background in statistical modeling Machine learning expertise High-frequency trading architecture knowledge Regulatory framework understanding
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Sauge AI Market Intelligence

Industry Trends

Electronic FX trading volumes are experiencing significant growth, driven by algorithmic trading and automation which now accounts for over 80% of spot FX transactions in major currency pairs Integration of machine learning and AI in FX trading is accelerating, with particular focus on predictive analytics and real-time risk management Regulatory scrutiny of electronic trading practices is increasing, especially regarding market manipulation and flash crashes

Salary Evaluation

The offered salary of $300,000 is aligned with senior quant roles in NY, though total compensation including bonuses typically ranges from $400,000 to $700,000 for similar positions

Role Significance

Typically leads a team of 5-10 quant developers and analysts, while collaborating with broader trading desk of 20-30 professionals
Director-level position with significant influence on trading strategy and technology infrastructure decisions

Key Projects

Development and implementation of next-generation pricing engines Machine learning-based execution optimization systems Cross-asset trading platform integration Regulatory compliance framework implementation

Success Factors

Deep understanding of both technical and business aspects of eFX trading Ability to bridge quantitative expertise with practical trading requirements Strong leadership skills in managing complex technical projects Track record of innovation in trading technology

Market Demand

Very high demand, with increasing competition from both traditional banks and fintech firms for specialized eFX quant talent

Important Skills

Critical Skills

Quantitative modeling skills are essential for developing proprietary trading algorithms Technology architecture expertise crucial for high-frequency trading systems Risk management capabilities vital for market-making operations

Beneficial Skills

Cross-asset class knowledge Network of industry relationships Experience with emerging market currencies

Unique Aspects

Opportunity to build and scale eFX capabilities at a major international bank
Focus on Americas markets provides unique trading opportunities
Balance of established banking infrastructure with modern trading technology

Career Growth

Typical progression to next level occurs within 3-5 years with demonstrated success

Potential Next Roles

Global Head of eFX Trading Head of Systematic Trading Chief Quant Officer

Company Overview

Scotiabank

Scotiabank is a leading Canadian bank with significant global presence, particularly strong in the Americas

Among top 25 global investment banks with growing electronic trading capabilities
Strategic NY office serving as hub for North American electronic trading operations
Traditional banking culture evolving towards technology-driven transformation with focus on innovation
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