Title:  Senior Manager, Collateral Operations

Requisition ID: 216067

 Salary Range: 117,400.00 - 224,700.00 

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

Global Banking and Markets 

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. 

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.  

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries!  We work together to drive ambition for every future! 

Purpose

The Senior Manager, Collateral Operations is responsible for supervising and overseeing the specialized operations for all domestic and global collateral management as it pertains to securities borrowing and lending activity for the Scotia Group. This includes Scotia Capital Inc, Prime Services, Wealth & Group Treasury, and Collateral Management & Funding.  In doing so, the incumbent must ensure:

• Oversight and supervision of a team of four collateral assistant managers, ensuring the team’s functional duties are properly carried out to an expected and acceptable level of quality and professionalism
• Responsibility for team management and team growth and development, ensuring that individual and team goals and objectives are properly aligned and met
• Efficient and economical processes / operations / management controls are maintained
• Specialized securities settlement risks are understood and controlled
• Internally / externally initiated changes impacting assigned areas are understood, communicated, planned for, and implemented

What You’ll Do

Manage the Operational Process by:

• Provide focused customer service thereby setting examples for the team to follow.
• Maintain a positive working relationship with all stakeholders ensuring all collateral issue (margin calls, settlements, exposures) and from time-to-time reconciliations are dealt with professionally and promptly.
• Being a point of reference to the team members for interpretation, learning and understanding of task and responsibilities.
• Contribute to the efficient cost effectiveness of the unit operation.
• Monitoring to ensure appropriate action is taken to address any outstanding problems so as to meet regulatory guidelines.
• Supervise and be a point of reference for other team members regarding collateral management processes and procedures.
• Monitoring daily processes ensuring timely action and responses are given to issues that arise while ensuring deadlines and collateral coverage is successful.
• Planning and presentation of the visual management tool with the team.
• Foster the identification of operational inefficiencies, risks, and problems by the team.
• The management of workflows through capacity management and load balancing.
• Measurement and improvement of Key Performance Indicators including targets and trends.
• Coordination of processes to discuss Root Cause Problem Solving identified and the recommendation of solutions to senior management as necessary.
• Conduct process confirmation on Standard Operating Procedures and identify and implement improvements.
• Ensure that the process enhancements identified in the “Tactical Implementation Plan” are implemented as appropriate.
• Manage and monitor funding at all depositories.
• Act as a change agent in introducing any systemic changes or enhancements.
• Ensuring strict adherence to securities lending collateral guidelines as always set out in the LCS to prevent any risk of exposure to the bank.
• Review of critical reports and completed work to track exception items and to assess necessity to amend or improve processes.
• Provide support to the Director for project type activities that require other than established procedures and ensure successful implementation.
• Completing and assessing EOD exposure reports for review and distribution.
• Be responsible for prudent fiscal expense management within the team
• Ensure service levels meet customer needs in a manner consistent with Scotia Service Standards by:
• Providing focused customer service to both internal and external customers.
• Ensuring all client transactions are processed and cleared daily in a timely and accurate manner.
• Responding promptly and professionally to inquiries from customers, business lines supported and other units within GWO.
• Ensuring that any activity undertaken by the unit in support of the various business lines that could have adverse customer impact is promptly identified and appropriate senior management / business lines are notified accordingly

What You’ll Bring 

• Exceptional communication, interpersonal and organizational skills are required for this role as well as good people management, leadership, and coaching ability.
• Highly developed analytical and problem-solving skills are necessary as well as a good knowledge of the Bank’s operational and compliance policies, practices, and procedures. Industry standards and infrastructure rules and regulations in relation to North American settlements are also required.
• Must be conversant and have a strong grasp of principles for the systems used by the unit including Collateral Operations Systems, Arrow Blotters, CDS, DTC. Tri-Party platforms, various lending platforms.
• Must possess expert knowledge of all Bank policies, regulatory requirements, limits, and controls which may affect or restrict all aspects of the day-to-day responsibilities for the unit.
• Ability to provide reliable and timely responses confidently to direct inquiries from customers, traders/sales personnel & management.
• Ability to effectively delegate, team build and provide coaching and feedback.
• Sound appreciation of the risks inherent in the unit.
• Ability to manage in a rapidly changing environment regarding policies, procedures, automated systems, and client needs.
• The position requires a minimum of five years’ experience in a team leadership role with experience in coaching and performance appraisals.
• Strong general knowledge of Securities Industry conventions, procedures and related internal policies and procedures as they pertain to Collateral Operations.
• Complete understanding of all regulatory reporting requirements.

Interested? 

If your experience is closely related but doesn’t align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank! 

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture. 

What's in it for you?

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs. 

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.