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Title:  Manager, Global AP&P, DHQ & System Implementations

 

 

 

Requisition ID: 134680

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

 

The incumbent will manage projects related to system and infrastructure changes required  to comply with the new International Financial Reporting standards for hedge accounting (IFRS9) ensuring the hedge accounting treatment for the Bank’s eligible hedges of the Bank’s assets & liabilities continues to be accurate and the system is able to handle the new qualification and accounting requirements.

 

Key Accountabilities:

System Implementation

  • Identify and document business requirements and infrastructure changes needed to apply qualification and accounting changes outlined in IFRS 9, while in compliance with all control policies and procedures. This includes expanding the scope of the Hedge Accounting & Qualification System (HAQS) and improving the functionality of the system to meet the changing needs of relevant groups.
  • Coordinate with IT area and other team members to identify, document and implement testing plans and develop test cases for all system changes to ensure that function as inteneded and do not impact the performance of the existing functionality. 
  • Remain current with emerging industry best practices for hedge accounting, qualification requirements and associated risks through research, and critical reading of articles issued by regulatory bodies and industry associations.  Also, ensure that these developments are effectively communicated to the team.

Hedge Qualification

  • Develop and implement hedge relationships that are in compliance with the requirements for hedge accounting under IFRS. The processes will include identification, designation, documentation, effectiveness testing, accounting, ongoing monitoring and reporting of hedge relationships.
  • Coordinate the receipt and input of hedging templates in HAQS. Review templates for eligibility, identify the associated strategy or set up new strategies and ensure documentation is prepared, signed and uploaded. Coordinate the input of hypothetical and/or placeholder deals for the hedges.
  • Prepare monthly reconciliations of hedge accounting results for various hedging units, and also provide support for ad-hoc analysis, financial reporting and disclosures.
     

 

Experience / Education:

 

  • Comprehensive knowledge of financial products, including complex derivative structures that are used to manage and hedge risks associated with banking products. Knowledge and prior experience with derivative/valuation/ALM systems is desirable.
  • Excellent project Management, analytical, problem-solving, time-management and communication skills are required.  
  • Ability to interpret applicable accounting standards for practical application to the Bank’s hedge qualification process. Knowledge of IAS 39 & IFRS 9 is required. Ability to understand the attributes of the individual & portfolio of hedged items (products) and hedging derivatives, and how these attributes interact with each other.
  • Advanced PC skills in spreadsheet analysis (Excel) and database management (Access) are required. Knowledge of UNIX and RiskWatch is desirable.
  • Broad understanding of the Bank’s structure, operations, accounting policies, and financial/regulatory reporting requirements is desirable.
  • Ability to work independently for periods of time while also managing and working within a team environment.
     

 

Location(s):  Canada : Ontario : Toronto 

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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