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Assistant Manager

Date: Jul 12, 2019

Location: Toronto, ON, CA

Company: Scotiabank

 

 

 

 

 

Requisition ID: 63849

 

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

 

Purpose of Job:

 

The Assistant Manager, Collateral Management is responsible for supervising the specialized securities 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 Global Trading, Prime Services, and Wealth & Group Treasury, and Collateral Management & Funding.  In doing so, the incumbent must ensure:

  • 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

 

The position is a people manager role which is responsible for coaching individuals, coordinating workflows, measuring and enhancing employee engagement as well as the daily evaluation of team performance.  The team leader uses the daily huddle as a mechanism to create a shared understanding within the team and establishes benchmarks and targets to facilitate operational efficiency and to create a culture of continuous improvement. 

 

Major Accountabilities:

 

Manage the Operational Process by:

  • Leading the team to provide focused customer service;
  • 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 other team members for interpretation, learning and, understanding of task and responsibilities;
  • Participating in the review process and completing of the Annual Performance Appraisal of team members;
  • Individual coaching and skill development within the team;
  • Providing leadership and on-going direction, guidance and counsel to other team members to help maintain and grow and a positive knowledgeable work environment;
  • 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 set out in the LCS at all times 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 Manager, Sr. Manager and 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;

 

Ensure service levels meet customer needs in a manner consistent with Scotia Service Standards by:

  • Leading the team to provide 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 Operations;
  •  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

 

Education/Work Experience/and other qualifications

  • Must have a minimum of 5 years general knowledge of Securities Industry conventions, procedures and related internal policies and procedures as they pertain to Securities Lending and Collateral Management.
  • Must have 2-5 years of experience in a formal or informal team leadership role ideally with experience in coaching and performance appraisals
  • Complete understanding of all regulatory reporting requirements.
  • Exceptional Communication, Interpersonal  and Organizational Skills are required for this role in conjunction with good People Management.
  • 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 Funding and Settlement are also required within various depositories in various time zones.
  • The incumbent must be conversant with the variety of Bank and other systems used in the settlements area and have a strong grasp of systems principles in general.

 

Location(s):  Canada : Ontario : Toronto 

As Canada's International Bank, we are a diverse and global team. We speak 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. 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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