Share this Job

Analyst - Toronto, ON

Date: Jan 11, 2019

Location: Toronto, ON, CA

Company: Scotiabank



Requisition ID: 50019


Join the Global Community of Scotiabankers to help customers become better off.

Job Purpose

The Senior Reconciliation Officer is responsible for reconciling and overseeing all standard facets associated with the cash and security clearance & ledger activities and in so doing ensure an appropriate level of operational efficiency, strict adherence to Bank and regulatory policies and procedures and escalation of issues to management consistent with our internal and external customers’ needs is maintained and effective procedural and management controls are in place.

The Senior Reconciliation Officer is responsible for the preparation, investigation, reconciliation, and accurate resolution of the organization’s book of records on behalf of Scotiabank including BNS Group Treasury, International Subsidiaries, Scotia Capital Inc., Scotia iTrade, Scotia bank Europe PLC, BNS Asia, Wealth Management, Scotia Trust, Scotia Private Client Group, BNS Custody Services, Hollis group of companies. They work closely with his/her Senior Reconciliation Specialist in capturing and monitoring Key Performance Indicator (KPI)

The Reconciliation Analyst is responsible to ensure that all customer inquiries are handled promptly and professionally in an accurate & timely manner resulting in a high level of customer service and satisfaction.


Key Accountabilities

The Reconciliations Analyst ensures that operational efficiency of the Reconciliation and Control unit is maintained at a high level in accordance with approved policies and procedures by:

  • Completing various reconciliations / adjustments (as assigned)
  • Monitoring outstanding reconciling adjustments ensuring discrepancies have been corrected and escalate any un-resolved errors.
  • Proactively assist other team members as required
  • Assist with staff training / cross training
  • Identifying and pursuing opportunities to improve processing efficiency and / or reduce risk
  • Supporting the implementation of new processes/ systems including conversions & project related activities as required.

Effectively assist the Reconciliation Specialist and management in monitoring related risk and minimizing losses by:

  • Timely distribution of all reconciliations to business partners
  • Ensuring procedural and management controls are followed
  • Ensure control accounts and aged reconciling items are reviewed daily.
  • Following escalation procedures for any potential process deficiencies
  • Proactively work with other processing areas towards uncovering root causes to reduce demand workload and preventing risk exposure through timely and on-going monitoring / analysis of errors.
  • Assisting with the daily, weekly, & monthly reconciliations / reporting of control / suspense accounts ensuring their accuracy
  • Ensure a high level of customer service is provided to internal clients including Scotia-Capital, Wealth Management (Scotia-McLeod / SMDI /Scotia iTrade / Scotia Trust) Hollis, Scotia Capital (USA) Inc. and the Bank (GWS / Group Treasury / Custody Services) by:
  • Establishing and maintaining a high degree of processing / correcting adjustments in an accurate and timely manner
  • Responding knowledgeably, promptly, and professionally to client inquiries
  • Providing technical expertise and specialized assistance relative to the various reconciliation / reporting processes

Provide back up for positions during absences / vacations as required.

Sundry duties as assigned.


Functional Competencies

  • Must possess a very good knowledge of all facets of Securities Operations and experience in the process and procedures, products and functions of the department to effectively monitor and improve reconciliation processing and workflows.  The incumbent must possess a very good understanding of Canadian/US/Foreign securities standards and practices including but not limited to IIROC, MFDA, CDIC, FINRA, OSFI and Bank policies and procedures and maybe expected to be industry certified.
  • The incumbent must possess an excellent understanding and thorough knowledge of all the operating systems and applications utilized to support the day-to-day operations of the Securities and Accounting areas (i.e.- Broadridge  61, 191, 121 & 213, Broadridge  sub systems i.e. Cage 3, ZRSP, ZTRF, ReOrg, Autoclose, Trust GUI, Dataphile, BONY Global, BONY Fed, Merrill, CDS –DCS, Euroclear, DTC, Clearstream,   BNP Paribas, Citi Securities, Broadridge  Impact, EUCLID, HSBC, Banco Itau,  ACWS, AS400,  Anvil, the Oracle Applications, BESS, Corona, GMIS, Bank’s G/L, NOSTRO, BPSA, Showcase Query, MPower, Microsoft Word and Excel applications,  Access,  retail/commercial Banking applications, new reconciliation applications.
  • A good appreciation of the risks inherent within a securities operation including: global risk, settlement risk, FX risk, interest exposure and payment risk
  • Strong verbal and written communication skills are required to provide clear direction and maintain good relation to both internal and external clients.
  • Very good analytical & problem solving skills and sound judgement needed to critically examine operations / processes / efficiencies including in depth knowledge of the various department processes and inputs from up and downstream systems.
  • Ability to analyze cross departmental processes which may have created the exception and understand action required to resolve.
  • Strong organizational skills to manage numerous tasks simultaneously, prioritize issues and make prompt decisions & possess a high degree of initiative and motivation
  • A sound accounting background is essential to deal with reconciliation & balancing requirements as well as new systems and system enhancements.
  • Adaptability to operate in a rapidly changing environment regarding policies, procedures, automation, and client needs
  • Strong competencies in Coaching, Communication, Change Leadership and Results Focus are critical.

Location(s):  Canada : Ontario : Toronto

As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. 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. Candidates selected for an interview will be contacted directly.  If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.

Job Segment: Bank, Banking, Database, Mid-Range, Oracle, Finance, Technology

Find similar jobs: