Assistant Manager - OTC Confirmations (GWO)

Scotiabank; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A leading financial institution in Toronto seeks an Assistant Manager for OTC Confirmations. The role involves managing trade processes, ensuring accuracy, and resolving confirmation issues. Candidates should possess a University Degree in Business/Finance, excellent communication skills, and a strong analytical mindset. The position offers professional development opportunities and a competitive rewards program, including comprehensive benefits from the first day.

Benefits

Competitive rewards program

Flexible vacation and personal days

Comprehensive benefits from day one

Professional development opportunities

Diversity and inclusion initiatives

Qualifications

• Expert knowledge of OTC Equity and Interest Rate Derivatives' ISDA trade confirmations.
• Driven to improve efficiency and controls.
• Strong computer and process re-engineering skills.

Responsibilities

• Ensure controls in the trade confirmation process are maintained and issues resolved.
• Train staff for high-quality adherence to regulations.
• Develop and maintain relationships with customers for effective issue resolution.

Skills

Business/Finance Knowledge

Interpersonal Skills

Detail-Oriented

Analytical Mind

Data Analytics Skills

Communication Skills

Education

University Degree in Business/Finance, Law or Engineering

Job description

Assistant Manager - OTC Confirmations (GWO)

Requisition ID: 245016

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

The Role

The trade confirmation process performed by Global Wholesale Operations (GWO) is a key control within Scotiabank’s Global Banking and Markets (GBM) trading environment.

The GWO Over-the-Counter (OTC) Confirmations department’s primary responsibilities are to ensure trades are booked correctly by affirming trades with counterparties, to negotiate and execute confirmations, and to reconcile the bank’s positions to external electronic trade execution and affirmation/confirmation platforms and to Central Counterparty Clearing Houses (CCPs).

The Assistant Manager, OTC Confirmations, is responsible for maintaining controls, resolving confirmation issues, coordinating legal reviews, drafting and approving OTC Equity and Interest Rate derivatives’ ISDA trade confirmations, and contributing to the department's continuous improvement of processes and controls.

In this role, you will:

• Ensure risk inherent in the trade confirmation process is identified, understood, monitored, and controlled. This includes:
  • Ensure all trades are recognized by trade counterparties, economic terms of all transactions are matched on, and all breaks are identified, reported, and resolved
  • Generate, review, and execute trade confirmations in accordance with Bank policy
  • Ensure the Bank is reconciled with external electronic trade execution and affirmation/confirmation platforms
  • Train staff to minimize errors and maximize quality and adherence to regulations, policies and standards
  • Escalate and resolve issues
  • Investigate issues such that root causes are identified and appropriate actions are taken to prevent recurrence
  • Assign and prioritize work, while balancing the workload and dynamically shifting cross trained staff to minimize risk and ensure consistent high quality customer service
  • Review control/KPI/KRI reports circulated to management and the business to highlight risk and drive issue resolution
• Ensure a high degree of processing accuracy, customer service, and operational efficiency:
  • Maximize STP rates and the use of automation to ensure controlled efficient operations
  • Identify and implement opportunities for improvement in controls, customer service, productivity, and cost effectiveness
  • Understand customer needs and maintain customer service standards
  • Develop and maintain relationships with customers, at both the operations staff and management levels, allowing for effective escalations and issue resolution
  • Ensure customer issues are identified, reported, and escalated, and resolution is coordinated with internal stakeholders and the relationship owners

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

• Business/Finance, Law or Engineering University Degree, or a related educational background
• Expert knowledge of OTC Equity and Interest Rate Derivatives’ ISDA trade confirmations
• Driven to improve efficiency and controls
• Excellent interpersonal and communication skills
• Accurate and detail oriented with an analytical mind and the ability to detect, articulate, and effectively escalation and resolve issues
• Strong computer, data analytics, and process re-engineering skills

What’s in it for you?

• 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 our 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.