Market Risk Analyst, FX (5771)

Work Location

Toronto, Ontario, Canada

Hours

37.5

Line of Business

Risk Management

Pay Details

$69,700 - $98,400 CAD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description

Department Overview

Market Risk (MR) provides independent oversight of trading market risk across TD Securities, with a strong focus on quantitative risk measurement, model behaviour, and risk factor dynamics . The team is responsible for evaluating how market movements, model assumptions, and portfolio structure impact risk metrics, capital, and limit utilization, in line with TD’s risk appetite and regulatory expectations.

Within MR, the Global Foreign Exchange (GFX) team covers FX options, FX & short term interest rate trading , partnering closely with front office, product control, and risk analytics teams to ensure risks are well‑understood, consistently measured, and transparently communicated . The group operates in a model‑driven environment , combining risk sensitivities, VaR, stress testing, and scenario analysis with deep product knowledge to support decision‑making across the firm’s global trading platforms

Position Overview

We are seeking a Market Risk Analyst to join the GFX Market Risk team. The role provides market risk analysis, reporting, monitoring, and support to risk and business partners, helping ensure exposures are accurately measured, aggregated, understood, and escalated.

As a Market Risk Associate within the Global Foreign Exchange team, you'll be part of a group that is responsible for providing market risk oversight and reporting across risk sensitivities, VaR, and Stress for the GFX businesses (covering FX Options and Short term interest rate trading) ; ensuring that these risks are understood, appropriately measured, and that the business operate within risk appetite. In addition, the team executes infrastructure changes with regards to the implementation of new or revised risk policies, regulatory requirements, system updates, ad-hoc measurements used by the Bank to monitor market risk holistically. The Market Risk team is a global business supporting trading activities in Toronto, New York, Calgary, Singapore, London, and Dublin.

This is an individual contributor role aimed at developing specialized FX product knowledge and risk oversight capability. The successful candidate will deliver assigned work end to end within established guidelines, exercise judgment using multiple sources of information, identify issues, and build increasing independence under management guidance and supervision.

Key Responsibilities

Market Risk Assessment

• Review daily exposures and P&L for the GFX businesses, including FX Options and Short-Term Interest Rate Trading.
• Monitor and enforce approved desk and asset class limits, escalate breaches and emerging issues, and support guidance to traders using developing product-specific expertise.
• Run and analyze established stress tests and scenario analyses to identify portfolio vulnerabilities and changing risk drivers.
• Escalate notable P&L, valuation, limit, data, model, or control issues through established review and approval processes.
• Monitor market trends and emerging risks and assess their potential impact on the GFX portfolio.
• Support analysis related to new products, trading activity, and change initiatives, as assigned.

Risk Reporting and Analysis

• Produce and maintain accurate, complete, and timely market risk reporting and analysis.
• Validate that risk sensitivities, VaR, Stressed VaR, stress testing, and backtesting exposures are captured, aggregated, and reported in accordance with applicable policies and procedures.
• Analyze day-over-day changes in risk measures and P&L and provide clear commentary to Risk Management and business partners.
• Identify data quality, methodology, model, and system issues and contribute to investigation and resolution.
• Develop practical knowledge of FX trading strategies, derivative products, valuation concepts, and the analytical principles underlying pricing and risk management.

Collaboration and Change Support

• Work closely with traders and control partners, including Product Control, Finance, Technology, project delivery, and other Risk teams.
• Contribute analytical insights on risk drivers, limit usage, control effectiveness, and risk mitigation actions.
• Keep stakeholders informed of issues, analysis, and progress on assigned activities.
• Write business requirements and participate as a subject matter contributor in small-scale cross-functional projects and infrastructure changes.
• Share knowledge, support cross-training, and assist team members in completing work activities.

Risk Governance and Continuous Improvement

• Adhere to applicable regulatory requirements, internal policies, risk limits, governance standards, and established escalation processes.
• Contribute to stress testing, policy, limit, and control processes within the assigned scope.
• Proactively identify opportunities to improve risk processes, reporting, controls, and analytical tools.
• Create or enhance tools using Excel, Python, or other approved technologies to improve analysis and production processes.
• Solve moderately complex problems by applying a new perspective to existing solutions and escalating where appropriate.

Qualifications

Education and Experience

• Undergraduate degree or technical certificate in Finance, Economics, Mathematics, Engineering, Computer Science, or a related field.
• 1+ years of relevant experience. Experience in market risk, financial markets, FX, derivatives, risk analytics, or related control functions is preferred.
• FRM, CFA, a graduate degree, or progress toward a relevant professional qualification is an asset.

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Skills and Capabilities

• Conceptual and practical knowledge of financial markets, market risk frameworks, and derivative products.
• Understanding of risk measures such as sensitivities, VaR, stress testing, scenario analysis, and backtesting.
• Ability to analyze data, identify key drivers, draw conclusions, and communicate findings clearly.
• Advanced Microsoft Excel skills; experience with Python, Bloomberg, Tableau, or other risk and analytical tools is an asset.
• Strong written and verbal communication skills, with the ability to convey business context to internal stakeholders.
• Attention to detail, sound judgment, accountability, and the ability to manage priorities in a fast-paced environment.
• Collaborative approach with a commitment to continuous learning, knowledge sharing, and effective risk management.

Personal Attributes

• Strong analytical thinking and problem-solving abilities.
• Attention to detail and ability to work under pressure in a fast-paced environment.
• Ability to collaborate with cross-functional teams and influence decision-making.
• Ability to demonstrate accountability, independence and taking initiatives

Why Join Us

• Work in a collaborative market risk environment with exposure to global FX and short-term interest rate trading activities.

Develop specialized product, market, analytical, and risk oversight expertise.

Contribute to meaningful risk analysis, reporting, governance, and change initiatives.

Access professional development opportunities across risk management and financial markets.

Who We Are

TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we strive to make every interaction, product, and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to foster deeper relationships, ensure disciplined execution, and build a simpler, faster banking experience. TD is deeply committed to being a leader in client experience, that is why we believe that all colleagues, no matter where they work, are client facing. Together, we are reimagining what banking can be for our clients, colleagues and communities.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more

Additional Information

We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.

Colleague Development

If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.

If you’re passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact.

We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best.

Training & Onboarding

We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.

Interview Process

We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

Your accessibility is important to us. Please let us know if you’d like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you!

Language Requirement (Quebec only)

Sans Objet