Derivatives Clearing Officer

Scotiabank; Toronto; On-site; CAD 65,000 - 90,000; Full time

Job summary

Scotiabank is seeking a Derivatives Clearing Officer in Toronto to support exchange traded options. You will back up and assist the Contracts & Options desks and collaborate with US and Canada Equity Clearing and Trade Admin teams.

You will reconcile CDCC/OCC, process settlements, handle option assignments, transfers, and escrow, and ensure accurate reporting to TMX/CDCC while maintaining service standards.

Qualifications

• A university degree or college diploma or equivalent.
• CSC or working towards is an asset.
• Foundational knowledge of options (calls, puts, expiry).
• Experience with trade reporting systems such as Arrow, AS400, BPSA, Webpost, On Demand OAES and Broadridge products.
• Experience with CDCC and OCC derivatives clearing systems for clearing options.
• Solid working knowledge of Microsoft Office, including Excel.
• Strong attention to detail with accuracy in reconciliation.
• Strong analytical skills to assess trade-related issues.

Responsibilities

• Perform CDCC/OCC reconciliation and process settlement.
• Support Institutional Equity Option Trading for CAD/US trades.
• Process option assignment/exercise and transfers between brokers.
• Monitor pledged securities Escrow.
• Review illogical/paired-off reports for CDCC items and take action.
• Process CDCC series adjustments.
• Take appropriate action for institutional execution and settlements.
• Submit FIFO information on OCC/CDCC.
• Report Options Positions to TMX/CDCC for regulatory thresholds.
• Monitor corporate actions and ensure correct settlement instructions.
• Cross train and cover other areas; assist with weekly/monthly expiry.
• Provide client service per Scotia Service Standards.
• Maintain knowledge of all systems required to complete tasks efficiently.

Skills

Attention to detail

Analytical thinking

Multitasking

Verbal communication

Written communication

Time management

Education

University Degree or College Diploma or equivalent

Canadian Securities Course (CSC) or working towards

Tools

Arrow

AS400

BPSA

Webpost

On Demand OAES

Broadridge products

Microsoft Excel

Job description

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.

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.