Job Description

Requisition ID: 174642

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Why work for Scotiabank?
Scotiabank is among the largest banks in the world and the most international bank in Canada. We are powered by our 97,000 high-performing teammates who make a real difference across the globe as a leading provider of advice, products, digital experiences, and financial services. Together with our Digital Factories around the world, we are dedicated to helping our 25 million customers become better-off. This is a place where you\xe2\x80\x99ll get to learn and develop your skills, while being recognized for your hard work. At Scotiabank, we\xe2\x80\x99re passionate about bringing our whole selves to work, allowing us to create inclusive work environments for everyone to enjoy. Say hello to a career at Scotiabank!

Global Banking and Markets
Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange, and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.
Purpose
The trade confirmation process performed by Global Wholesale Operations (GWO) is a key control within Scotiabank\xe2\x80\x99s Global Banking and Markets (GBM) trading environment.
The GWO Over-the-Counter (OTC) Confirmations department\xe2\x80\x99s primary responsibilities are to ensure trades are booked correctly by affirming trades with counterparties, to negotiate and execute confirmations.
The Senior Manager, OTC Confirmations, is responsible for leading and managing an OTC Confirmations team, ensuring confirmations meet Bank standards. This includes managing day to day operations, staff development, performance management, continuous improvement of processes and controls, strategic use of technology, as well as the proactive identification and incorporation of changes required to support new regulations, changing business needs, and senior management\xe2\x80\x99s strategies and goals.
The Senior Manager coordinates work items and projects, and manages relationships with external trade counterparties and internal partners including the Front Office (FO), Operations, Technology, Legal Counsel, Risk Management and Compliance, both locally and internationally.
Accountabilities
1. Ensure a high degree of processing accuracy, customer service, operational efficiency, and conformity to Bank policies and external regulations:

• Maximize STP rates and the use of automation to ensure controlled efficient operations
• Train, develop, and supervise staff, ensuring trade booking issues are identified and corrected, and trades are confirmed accurately and correctly in a timely manner
• Identify and implement opportunities for improvement in controls, customer service, productivity, and cost effectiveness
• Manage the resolution of operational issues, ensuring senior operations management, control functions and the FO are fully aware, and issues are thoroughly investigated such that root causes are identified and appropriate actions are taken to prevent recurrence

2. Initiate and/or manage operational, regulatory, and technology change initiatives:

• Be aware of regulatory, industry and internal initiatives in order to forecast and prepare for the impact on the unit in advance
• Initiate process, control, customer service and technology improvements, conducting business analysis, designing solutions and defining operational and technology requirements
• Lead and manage change initiatives, seeking input and ensuring buy in from staff and stakeholders, and coordinating with stakeholders and project teams to achieve on time and on budget delivery
• Drive strategic recommendations, project and improvement roadmaps and implementation plans

3. Ensure risk inherent in the trade confirmation process is identified, understood, monitored, and controlled:

• Ensure all trades are recognized by trade counterparties, economic terms of all transactions are matched on, and all breaks are identified, reported, and resolved
• Review, approve and execute trade confirmations in accordance with Bank policy
• Lead the resolution of confirmation issues with the Legal department and the FO
• Review and centrally control confirmation and affirmation templates used by the unit
• Ensure a clear understanding of and adherence with regulations
• Train staff to minimize errors and maximize quality and adherence to policies and standards
• Escalate and resolve issues
• Assign and prioritize work, while balancing the workload and dynamically shifting cross trained staff to minimize risk and ensure consistent high quality customer service
• Coordinate the preparation of non-standard documentation, and the documentation of new products, with Legal Counsel and the FO
• Ongoing improvement and review of control/KPI/KRI reports circulated to management and the business to highlight risk and drive issue resolution

4. Ensure delivery of high quality of customer service:

• Understand customer needs, and set and maintain customer service standards
• Develop and maintain relationships with customers, at both the operations staff and management levels, allowing for effective escalations and issue resolution
• Ensure customer issues are identified, reported, and escalated, and resolution is coordinated with internal stakeholders and the relationship owners
• Manage customer expectations

5. Manage and develop staff to ensure efficient operations, high quality of work, attainment of objectives, and a high calibre of employees:

• Set goals and performance expectations, providing on-going performance feedback and coaching
• Support staff development through the Development Plan process
• Conduct annual performance reviews
• Train staff to dynamically manage workloads across the operation and eliminate single points of failure
• Ensure the department is appropriately staffed, with sufficient depth maintained for all key positions
• Develop succession plans and future leadership within the team

Requirements

• 
  Strong leadership, coaching and managerial capabilities
• Passion and track record of excellence in improving processes, productivity, controls and customer service
• Strong technology, automation, and process reengineering skills
• Expert knowledge of OTC traded products, ISDA OTC trade confirmations (specifically FX Options and Commodities products)
• Excellent interpersonal and relationship building skills
• Effective oral and written communication, presentation, and documentation skills
• Accurate and detail oriented with an analytical mind and the ability to detect, articulate, and effectively escalate and resolve issues with urgency
• University degree in Engineering, Business, Law or other relevant backgrounds

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. 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.