Title:  Senior Manager, Derivative Hedge Qualifications - Finance

Requisition ID: 265807 

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

Purpose

The incumbent implements Hedging Strategies under International Financial Reporting Standards (IFRS) to ensure the Bank qualify eligible derivatives for hedge accounting treatment, thus immunizing any volatility in the Bank earnings and add value to the business lines. The Opportunity: to gain experience with systems and technical accounting knowledge in variety of Bank’s financial products, valuations & analysis and reporting and enjoy dealing with business partners globally and manage variety of projects for systems developments and operational process improvements.     

Is this role right for you? In this role you will:

• Implement and manage specific hedge relationships to minimize the P&L volatility while achieving risk management strategies
• Lead direct reports overseeing daily hedge accounting activities. Review eligibility, identify the associated strategy or set up new strategies, review and approve required documentation. 
• Ongoing monitoring of hedging relationships to ensure they continue to meet the requirements for hedge qualification and have high effectiveness
• Manage tight month end close by reviewing, reconciling, analyzing, and communicating the hedge accounting results for various hedging units to International Banking business partners and/or Group Treasury.
• Review/Prepare information for the quarterly and annual financial disclosure. Also preform/provide guidance for ad-hoc analysis, and financial reporting.
• Coordinate various group initiatives/projects, such as implementation of new hedge strategies/new accounting standards/requirements, or various system transition/automation projects.
• Remain current with emerging industry best practices for hedge qualification through research, and critical reading of articles issued by regulatory bodies and industry associations.
• Manage direct reports by establishing performance objectives, defining roles & expectations, measuring and providing timely feedback. Providing direction, coaching and training for the continued development of direct reports

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:

• Post-secondary degree in Finance/Accounting/business with a minimum of 7 years’ experience.
• Motivating, coaching, curious, analytical, and collaborative; problem-solving, time-management and communication skills.
• Willingness to take ownership of new initiatives and bring them to fruition.
• Solid knowledge of finance and financial products including various derivatives.
• Accounting designation (CPA) or A CFA designation is an asset.
• Knowledge of Peak or other trading systems, PeopleSoft EGL, OBI, Excel, Power Point.

What’s in it for you?

• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development.
• Internal development to support your growth and enhance your skills.
• A competitive compensation and benefits package.
• An organization committed to making a difference in our communities– for you and our customers.
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

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.