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Director, Derivative Settlement Operations

Date: Jan 9, 2019

Location: Toronto, ON, CA

Company: Scotiabank

 

 

Requisition ID: 49781

 

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

Purpose

 

Manages and contributes to the overall success of Derivative Settlement Operations within the Global Settlement and Clearing Utility, Global Wholesale Operations, GBM in Canada ensuring specific individual goals, plans and initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted and services delivered are in compliance with governing regulations, internal policies and procedures.

 

Accountabilities

 

  • Oversees and maintains the post-execution operational activities and processes originating from Derivative, FX, Rates, Metals and trade related Financing activity by various Front Office trading desks located in multiple geographic locations and jurisdictions (including cash-flow settlement; rate notices & resets; MTM/valuation; client queries 7 claims; specialized payments; brokerage invoicing; funding projections; intra-day liquidity monitoring; structured financing and post-settlement control).
  • Champions and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge while continuing to promote a cross product and entity/business line agnostic working mindset.
  • Acts as the primarily point for escalation on operational concerns that impact the delivery and quality of services to the individual business lines and to their clients. Provides effective incident management support during technology/platform disruptions and outages. Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Identifies and evaluates various automation and technology solutions that improve productivity, cost, service support delivery, capacity, scale and standardization. Works collaboratively with GWRT to design and build the necessary technology platforms and/or tools. An active participant in appropriate working and governance structures to ensure effective prioritization of operational enhancements and future investments.  Ensures strategic alignment and influence in GWO and S&C strategies, leveraging synergies to promote built to last outcomes.     
  • Provides oversight and compliance with budgetary allocations to business lines. Ensuring best value spend against complex support requirements. Manages costs by reviewing continuous improvement initiatives and cost reduction strategies, technology rationalization and consolidation, business complexity demand and economic return analysis.  
  • 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.
  • Champions a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors; communicating vison/values/business strategy; and, managing succession and development planning for the team.

 

Education

 

  • Graduate degree in business, finance or economics, post-graduate qualifications and accreditations a plus.
  • 8-10 years’ experience in the Financial Services industry including extensive exposure to global securities, foreign currency transactions and payments functions.
  • In-depth knowledge and understanding of derivatives, FX and currency across various geographic locations, international markets, legal jurisdictions, clearing venues and Nostro.
  • Experience in driving process re-engineering, organizational change and building and managing high performance teams.

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.


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