Derivatives Clearing Officer

Scotiabank; Toronto; On-site; CAD 60,000 - 80,000; Full time

Job summary

A leading bank in the Americas is seeking a Derivatives Clearing Officer in Toronto. The role involves performing reconciliations for the Canadian Derivatives Clearing Corporation, supporting equity options trading, and ensuring compliance with regulatory requirements. Ideal candidates will have a University Degree or College Diploma, some experience in derivatives clearing, and strong analytical and communication skills. This position supports a diverse and inclusive workplace where unique skills are valued.

Qualifications

• University Degree or College Diploma or equivalent is required.
• Experience with CDCC and OCC derivatives clearing systems/platforms for clearing of options.
• Experience with trade reporting systems is preferred.

Responsibilities

• Perform CDCC/OCC reconciliation and process settlement.
• Support Institutional Equity Option Trading line.
• Process option assignment/exercise and transfer between brokers.
• Monitor pledged securities Escrow and corporate actions.

Skills

Attention to detail

Analytical skills

Effective communication

Microsoft Office proficiency

Multitasking

Education

University Degree or College Diploma

Canadian Securities Course (CSC)

Tools

Trade reporting systems

Microsoft Excel

Job description

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Requisition ID: 247042

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

As a Derivatives Clearing Officer, you will provide support for exchange traded options and backup and support for all functions within the Contracts & Options departments. You will also provide support for other desks such as US and Canada Equity Clearing and Trade Admin.

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

• Perform Canadian Derivatives Clearing Corporation (CDCC) / Option Clearing Corporation (OCC) reconciliation & process settlement
• Support the Institutional Equity Option Trading line to process give ups of CAD and US listed option trades
• Process option assignment/exercise and option transfer between brokers
• Monitor and facilitate pledged securities Escrow
• Monitor illogical & pair off report for CDCC items and take appropriate action
• Process CDCC series adjustments
• Take appropriate action for institutional execution and settlements
• Submit FIFO information on OCC & CDCC
• Report Options Positions to the TMX/CDCC regarding holdings over established regulatory thresholds
• Monitor corporate actions, ensuring special settlement instructions are reflected in the appropriate accounts
• Cross train and provide coverage on other areas of the department such as Trade correction, Canadian & US Clearing Desks, and any new desks as required
• Work with the team to complete requirements of Option weekly/monthly expiry
• Provide client service in accordance with Scotia Service Standards
• Acquire & maintain knowledge of all systems required to complete tasks in an efficient manner

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

• A University Degree or College Diploma or equivalent
• Canadian Securities Course (CSC) or working towards is an asset
• A foundational knowledge of options, including concepts such as call and out options, long vs. short positions & option expiry
• Experience with or familiarity in using trade reporting systems such as Arrow, AS400, BPSA, Webpost, On Demand OAES and Broadridge products (pertaining to trade processing)
• Experience with CDCC and OCC derivatives clearing systems/platforms for clearing of options
• Solid working knowledge of Microsoft Office products, including Excel
• A focus on attention to detail, with a strong emphasis on accuracy in aspects of reconciliation
• Strong analytical skills to assess trade-related issues logically and resolve effectively
• An ability to multitask effectively and to complete tasks efficiently and accurately, often under time constraints
• Effective verbal and written communication skills, with the ability to remain calm, organized, and professional in high‑pressure situations

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.