Assistant Manager, Settlements & Clearing

Scotiabank; Toronto; On-site; CAD 85,000 - 105,000; Full time

Benefits offered by this job

Bonus program

Flexible vacation

Personal and sick days

Comprehensive benefits

Job summary

Scotiabank in Toronto, Canada is seeking an Assistant Manager for Settlements & Clearing to support the team’s business strategies and regulatory compliance.

The role focuses on customer-focused culture, handling settlement operations, and maintaining efficient processes in a fast-paced environment. Strong communication, analytical skills, and banking product knowledge are essential for success.

Qualifications

• Strong communication and negotiation skills
• Experience with strategic business planning and execution
• Ability to adapt in a rapidly changing regulatory and risk environment
• Analytical and problem-solving capabilities with reconciliations knowledge
• Knowledge of securities, custody, clearing and settlements processes

Responsibilities

• Champion customer-focused culture to deepen client relationships and leverage bank capabilities.
• Deal with daily issues in retail and trading products impacting Securities Clearing.
• Manage time and prioritize tasks; support management with change and motivation.
• Maintain compliant processes amid evolving policies, systems and client needs.
• Understand securities markets and industry standards for custody, clearing and settlements.
• Assist in preparing manuals, guides and procedures.
• Contribute to resolving operational problems to prevent recurrence.
• Ensure alignment with bank risk appetite and conduct risk frameworks.

Skills

Excellent communication

Negotiation

Strategic influencing

Adaptability

Results oriented

Analytical thinking

Sound judgment

Banking product knowledge

Education

Undergraduate degree in Business

Postgraduate degree in Finance/Business Analysis/Marketing

Job description

Select how often (in days) to receive an alert:

Title: Assistant Manager, Settlements & Clearing

Requisition ID: 275575
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 the Settlements & Clearing team in Toronto, Canada ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.

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

• Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Ability to deal with daily issues/changes in retail and trading products as they impact Securities Clearing
• Strong general time management skills that include prioritization, team support, and human relation skills in order to assist management with change and motivation.
• Ability to maintain processes seamlessly in a rapidly changing environment regarding policies, procedures, automated systems and client needs.
• Understand securities markets and types, industry standards for custody, clearing and settlements
• Contributing to the preparation of associated manuals, guides, and procedures.
• Contributing to the resolution of operational problems ensuring appropriate action is taken to prevent recurrence.
• 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 implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.

Dimensions:

• Daily Trade Volumes: +25000
• Business Lines Supported: GWO Settlements & Clearing
• Reputational Risk potential: High
• Compliance and Regulatory Risk: High

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

• Excellent communication skills, with strong negotiation and strategic influencing skills.
• Expert knowledge of Bank’s products, policies and services.
• Good understanding and awareness of strategic and tactical business planning and executional issues/processes.
• Adaptability to operate in a rapidly changing environment regarding policies, procedures, automation, and client needs
• Results focused to identify and take action on any issues/concerns/processes in a timely matter.
• Very good analytical & problem-solving skills and sound judgment needed to critically examine reconciliations, their operations & processes including in depth knowledge of the settlement department processes and inputs from up and downstream systems.
• Undergraduate Degree Business
• Postgraduate Degree in Finance, Business Analysis & Marketing

Working Conditions

• Work in a standard office-based environment; non-standard hours are a common occurrence.
• The securities industry is a complex business and operates within a quasi-structured but rapidly changing environment with very tight deadlines where errors can result in substantial losses
• New systems, procedures, conventions, regulations and continual changes in technology, processes and the industry cause the frequency and degree of change within the operation of the department / division, thereby adding / increasing stressful situations. Constant demands on continually improving and implementing systems and procedures, requires on-going re-evaluation and prioritization of tasks and requires the incumbent to exhibit flexibility and the ability to work under tight times frames, complete reconciliations and processing adjustments within critical deadlines to avoid the risk of losses.
• The incumbent must be able to work with minimal supervision, manage several priorities simultaneously and faces frequent interruptions from staff, management and customers.

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