City : Toronto, ON, CA, M5H1J9

Category : Business Operations Specialists

Industry : Finance

Employer : Scotiabank

Requisition ID: 145573

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’ll get to learn and develop your skills, while being recognized for your hard work. At Scotiabank, we’re 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 of Job

The trade confirmation process performed by Global Wholesale Operations (GWO) is a key control within Scotiabank’s Global Banking and Markets (GBM) trading environment.

The GWO Over-the-Counter (OTC) Confirmations department’s primary responsibilities are to ensure trades are booked correctly by affirming trades with counterparties, to negotiate and execute confirmations, and to reconcile the bank’s positions to external electronic trade execution and affirmation/confirmation platforms.

The OTC Confirmations Analyst is responsible for maintaining controls, resolving confirmation issues, coordinating legal reviews and drafting OTC FX Trade Confirmations, and contributing to the department's continuous improvement of processes and controls.

Key Job Accountabilities

• Ensure risk inherent in the trade confirmation process is identified, understood, monitored, and controlled. This includes:
  • Ensure all trades are recognized by trade counterparties, economic terms of all transactions are matched on, and all breaks are identified, reported, and resolved
  • Generate and execute trade confirmations in accordance with the Bank policy
  • Ensure the trades are reconciled with external electronic trade execution and affirmation/ confirmation platforms
  • Timely escalation and resolution of any issues
  • Investigate issues such that root causes are identified and appropriate actions are taken to prevent recurrence
• Ensure a high degree of processing accuracy, customer service, and operational efficiency:
  • Maximize STP rates and the use of automation to ensure controlled efficient operations
  • Identify and implement opportunities for improvement in controls, customer service, productivity, and cost effectiveness
  • Understand customer needs 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 
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct

Skills, Experiences and Functional Competencies:

• Sound Knowledge of FX products including Cash, Spot, Forwards, Non-Deliverable-Forwards, Swaps, and Options
• Sound Knowledge of FX Settlement.
• Strong working knowledge of Electronic Confirmations workflow using SWIFT MT300 messages
• Strong working knowledge of FX trade confirmation platforms – Bloomberg, GTSS, Misys and FXALL
• Knowledge of OTC FX Derivatives’ ISDA trade confirmations and Master Confirmation Agreement.
• Knowledge of drafting NDF confirmations.
• Accurate and detail oriented with an analytical mind and the ability to detect, articulate, and effectively escalate and resolve issues
• Excellent interpersonal and communication skills
• Passion for customer service
• Driven to improve efficiency and controls
• Superior organizational and time management skills
• Display ability to meet multiple deadlines in a dynamic, fast pace environment
• Strong Microsoft Office, Data Analytics and Process Re-Engineering skills 
• Business/Finance, Law or Engineering University Degree, or a related educational background

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.