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Senior Manager, Global Fixed Income

Date: Mar 17, 2019

Location: Toronto, ON, CA

Company: Scotiabank

 

Requisition ID: 50894

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

Job Purpose

 

The Senior Manager is responsible for the oversight of the day-to-day operations, processing and assigned book level analysis within the Product Control group for the Global Fixed Income CMF business. The businesses supported include Collateral Management and Funding. The products include bonds, loans and deposits, IR derivatives and bond futures and options.

 

Product Control is the Profit & Loss control group for Scotiabank Global Banking & Markets.  Product Control is responsible for P&L reporting, risk attribution and analysis, valuation & independent price verification (IPV), reconciliation of reported P&L to Front Office estimates and to the general ledger, the substantiation of balance sheet accounts, identification and resolution of accounting & P&L discrepancies, and the maintenance of business performance and control MIS.

 

As the Product Control function is a developing area within Scotiabank, the Senior Manager should provide a proactive and dynamic approach. The Senior Analyst must be able to understand, analyse and comment on the drivers of P&L and to communicate effectively with management.

 

 

Key Accountabilities

 

 

  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Plays a key role in the maintenance of an efficient and risk effective control environment for Global Fixed Income business.  The incumbent will be responsible for:
  • Production or coordination of staff to ensure established process flows are completed to produce and report daily P&L. Confirmation of P&L integrity/ validation through risk based attribution.  Reconciliation of daily P&L to FO expectations with corresponding P&L explanatory to ensure P&L Sign-off by the Front Office. Coordination and resolution of P&L breaks between FO and Product Control through collaborative dialogue.
  • Ensuring daily reported P&L is reconciled to the Bank’s General Ledger and associated source system sub ledgers. Adoption of a proactive approach to ensure breaks are escalated and resolved on a timely basis as required by established work-flows.  Ensuring balance sheet accounts are substantiated and that all accounting issues are resolved on a timely basis.  Orchestrate and complete the Month-End Close Sign-off and MIS Package.
  • Accountable for providing P&L relates supporting information to trading desk, Risk Management and Finance including full decomposition of P&L by risk factors to ensure business partners have a clear understanding of the underlying drivers of the P&L      
  • Confirm and reconcile closing market risk positions Source system to traders estimate.  This will require strong understanding of risk analytics to develop and implement infrastructure processes aimed at effectively capturing and reflecting risk profile of the business.
  • Production, Review and Analysis of IPV, Reserves and Fair Value Adjustments as may be required in agreement with Risk Management and as required by Bank Guidelines. The coordination and timely resolution of Issues with the Front and Back Offices, and Risk Management.
  • Coordinate resolution of reporting issues across multiple regions and ensure accuracy of reporting.  Summarize issues and put forth recommendations to management in a clear and concise manner. Suggest resolution to rectify and deficiencies.
  • Maintain the various organizational controls and processes and ensure adherence to all regulatory requirements.
  • Supports the Director in establishing support for new products/business in a controlled manner and actively engage in requests for support, analysis and information from various constituents including the Front Office, Risk Management, Operations, Finance, Audit and Regulators.
  • Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day.

 

Education/Experience

 

 

  • A degree in Accounting, Finance, Economics, or a quantitative discipline including Mathematics, Science, Computer Science, and Engineering or Financial Engineering.
  • A professional accounting designation is desirable. An FRM/PRM or CFA would be an asset.

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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