Analyst, Derivative Settlement Operations (12-Month Contract GWO)

Scotiabank; Toronto; Hybrid; CAD 70,000 - 95,000; Full time

Benefits offered by this job

Bonus potential

Comprehensive benefits

Flexible vacation

Job summary

Scotiabank is seeking an Analyst in Derivative Settlement Operations on a 12-month contract in Toronto, Ontario. The role focuses on day-to-day settlements, reconciliations, and client communications across multiple derivative products.

You will collaborate with Front Office, Product Control, and IT, handling settlement disputes, MTM reporting, and governance adherence. A strong understanding of derivatives and capital markets operations is essential for success.

Qualifications

• Good / Solid understanding of the Derivative products.
• 1+ Year of experience in Capital Markets Operations.

Responsibilities

• Complete day-to-day settlements and investigation/resolution of settlement disputes with clients/counterparties.
• Assist with post-settlement reconciliation of cash and accounting breaks, Rate reset notifications and MTM reporting distribution.
• Maintain effective relations with Front Office, Product Control, IT to ensure procedures are followed and discrepancies resolved.
• Provide accurate and informative analysis to senior management as requested.
• Be first point of contact for all clients supported and provide timely insights on settlements, rate reset notices and MTM reporting.

Skills

Derivative products knowledge

Capital Markets awareness

Education

University Bachelor7s Degree

Job description

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Title: Analyst, Derivative Settlement Operations (12-Month Contract GWO)

Requisition ID: 271244
Employee Referral Program – Potential Reward:$1,000.00

We are committed to investing in our employees and helping you continue your career at Scotiabank.

The Role

Contributes to the overall success of Derivative Settlements Operations / Settlements and Clearing in Canada ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted follow governing regulations, internal policies, and procedures.

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

• Champions a client focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Responsible for day-to-day operational activities. This includes but is not limited to completing daily settlements and investigation/resolution of settlement disputes with clients/counterparties. Assisting with post-settlement reconciliation of cash and accounting breaks, Rate reset notifications and MTM reporting distribution, involvement with projects as they relate to the team, and other ad hoc responsibilities.
• Effectively supporting, communicating with, and maintaining excellent working relations with all stakeholders: Front Office, Product Control, IT, ensuring that related procedures take place in an accurate and timely manner and that any discrepancies are resolved with urgency.
• Responsible for providing accurate and informative analysis to senior management as requested.
• First point of contact for all clients supported. Effecting insightful feedback and accurate analysis in a timely manner on all customer requests as they relate to settlements, Rate reset notices, and MTM reporting.
• Develop a sound understanding of the products supported/settled. (Cross Currency Swap, Single Currency Swap, Credit Default Swap, Inflation Swap, Total Return Swap, Forward Rate Agreement, Forex, FX Options, FX Commodity Options, Equity Options, Loans, Deposits, Swaption, Single Currency Extend, Single Currency Call, Cap, Floor, FX Strip).
• Identifying and mitigating any inherent operational risks as they relate to overall team and teams’ processes. This includes, but is not limited to, cross-training and providing coverage on other settlement desks for absence management; review, evaluate, implement and document new and existing procedures (SOPs).
• Will consistently look for process improvements opportunities to maximize efficiencies.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• 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 contributes to an inclusive work environment.

Dimensions:

• Span of control – Front Office, Product Control, Technology
• Countries / regions / business units supported – Global (North America, London/Eurpoe, Latin America, Asia Pacific
• Number of projects / Number of systems – K2/PEAK, S1, Bloomberg, Reuters, SWE, SPG, Scotia Connect, Corona, TLM, JIRA
• Regulatory bodies and special requirements – OSFI, CFTC, CASS

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

• University Bachelor's Degree
• Good / Solid understanding of the Derivative products
• 1+ Year of experience in Capital Markets Operations

Working Conditions

• Hybrid work environment between core operational hours 8:30am -6pm
• Extended hours are a common occurrence during peak periods, occasional weekend support for testing
• Required rotational coverage on Statutory holidays

What’s in it for you?

• Opportunity to engage with various GBM business groups on KYC/AML topics and client outreach activities
• Opportunity to enhance knowledge of GBM’s global product offering, business lines and functional processes, as well as gain exposure to the overall bank
• Opportunity to build strong strategic relationships across broad partner and stakeholder groups within GBM globally and across the bank
• Be a key member of a dynamic and engaged team with strong leadership and focused personal and career development support
• A rewarding career path with diverse opportunities for professional development
• An organization committed to making a difference in our communities – for you and our customers.
• A competitive rewards program including bonus, flexible vacation, personal and sick days, and comprehensive benefits that start on your first day.
• Diversity, Equity, Inclusion & Allyship - We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and are embraced through bias-free practices and inclusive values across Scotiabank. We embrace diversity and provide opportunities for all employees to learn, grow & participate through our various Employee Resource Groups (ERGs) that span across diverse gender identities, ethnicity, race, age, ability & veterans.
• Accessibility and Workplace Accommodations - We value the unique skills and experiences every individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone. Scotiabank continues to locate, remove and prevent barriers so that we can build a diverse and inclusive environment while meeting accessibility requirements.

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.

Note: All postings in me@Scotiabank will remain live for a minimum of 5 days.

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