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Title:  Operations Manager, Settlements & Clearing, GWO US

 

 

 

Requisition ID: 159728

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

 

Scotiabank is currently seeking a Operations Manager, GWO US – Settlements & Clearing to join our growing team! This role contributes to the overall success of the GWO US Settlements & Clearing department in the U.S. by ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives.  Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.

This role is to primarily support Collateral Management, Stock Loan and Triparty/Repo Settlement. Responsibilities include gathering collateral data, providing projections, and monitoring actuals along with managing Mark-to-market (MTM) positions, fixing daily Contract Compare breaks, monitoring exception settlement queues, confirming collateral movements on bilateral and Tri-Party deals. The position will have substantial interaction with internal and external clients.  Additionally, the incumbent will be involved in new business initiatives and be able to support the initiatives. Other responsibilities include collateral trade input, daily activity balancing, and calculating entity cash funding. We are seeking a passionate individual looking to grow with the team, if this sounds like you, we would love to hear from you!

 

Is this role right for you? You will be responsible for:

 

  • Championing a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Supporting repo Tri-Party deals by allocating, substituting and monitoring collateral activity on BNY Access Edge
  • Gathering collateral data, produce projections, and monitor actuals
  • Balances daily transactions between Loanet and DTCC
  • Interacting with counterparties to resolve any settlement/collateral issues and Contract Compare breaks
  • Managing exposure using Global1, Loanet, BNY Access Edge and Equilend
  • Maintaining and monitor Noncash and E4E balances below DSL Limits
  • Managing the Stock Loan Cash and Noncash International business to include prepays, settlements and marks
  • Managing the monthly rebate collection and payment process to include research and resolution of any differences
  •  Managing the monthly Reconciliation and Attestation process
  • Controling non cash collateralization to mitigate risk to the Firm and ensure regulatory compliance (improper handling could subject the Firm to regulatory capital charges and reporting issues with FINRA)
  • Understanding how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Actively pursueing 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.
  • Championing a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.

 

 

 

Do you have the skills you need to succeed? We'd love to work with you, if you have:

 

  • 5+ years of experience in Securities Operations
  • Strong competency using Equilend, Global1, DTCC, Loanet, Access Edge, and ADP
  • Solid understanding of Securities Lending and Repo Tri-party
  • Reflect superior customer service skills
  • Manage multiple depositories to ensure proper collateralization and settlements
  • Be able to work in a fast paced and group oriented environment

 

Location(s):  United States : New York : New York City 

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.


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