Manager, Product Control

Scotiabank; Toronto; On-site; CAD 70,000 - 95,000; Full time

Job summary

A leading bank in the Americas is seeking a Manager Product Control in Toronto. This role requires experience in valuation and risk analytics of equity and derivative products. Responsibilities include daily P&L reporting, reconciliation of accounts, and collaborating across departments. Competitive rewards package and career development opportunities are offered.

Benefits

Performance bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from day one

Qualifications

• Experience with valuation, risk analytics and accounting of equity and derivative products.
• Strong understanding of Bank accounting policies and market practice.
• Ability to learn fast and strong communication skills.

Responsibilities

• Produce and report daily P&L with integrity validation.
• Reconcile daily P&L to General Ledger and resolve breaks.
• Support financial reporting needs as required.

Skills

Valuation of equity and derivative products

Financial analytics

Risk management

Problem-solving skills

Excel proficiency

Communication skills

Education

1 – 3 years in relevant experience

Progress in CFA or CPA

Tools

Python

VBA

SQL

Job description

Overview

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

The Manager Product Control is a member of the Product Control team, responsible for providing P&L and Accounting support for a number of books and/or strategies for Global Equity business. The Product Control Department is the Profit & Loss control group providing support to Scotiabank Global Banking & Markets. Product Control is responsible for P&L reporting, P&L and risk attribution and analysis, valuation & independent price verification (IPV), reconciliation of reported P&L to Front Office estimates and to the general ledger, the substantiation of balance sheet accounts, issue identification and resolution, and the maintenance of business performance and control MIS.

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

The Manager will play a key role in the maintenance of an efficient and risk effective control environment for Structured Notes Product Control. The Manager will be responsible for:

Responsibilities

• Produce and report daily P&L. Confirm P&L integrity/validation through risk based attribution. Reconcile daily P&L to Front Office expectations with corresponding P&L explanations to ensure P&L Sign-off by the Front Office. Coordinate and resolve P&L breaks between Front Office and Product Control through collaborative dialogue.
• Ensure daily reported P&L is reconciled to the Bank’s General Ledger and associated source system sub-ledgers. Proactively escalate and resolve breaks in a timely manner as required by established workflows. Substantiate balance sheet accounts and resolve all accounting issues promptly. Orchestrate and complete the Month-End Close Sign-off and MIS Package.
• Demonstrate a strong understanding of accounting and valuation of equity & derivative products to develop and implement infrastructure processes that accurately reflect risk for the business.
• Produce, review and analyze IPV, reserves and fair value adjustments as required in agreement with Risk Management and Bank Guidelines. Coordinate and timely resolve issues with Front, Back Offices and Risk Management.
• Support other financial reporting needs as required.
• Support other Managers and Senior Managers in establishing support for new products/business in a controlled manner and engage in requests for support, analysis and information from Front Office, Risk Management, Operations, Finance, Audit and Regulators.

Qualifications

• Experience with valuation, risk analytics and accounting of equity and derivative products.
• 1 – 3 years in relevant hands-on experience in financial analytics, risk management or accounting functions, ideally in a fund accounting firm or financial institutions.
• Strong problem-solving skills and proficiency with Excel.
• Python, VBA, SQL ability would be an asset.
• Progress in CFA or CPA will also be an asset.
• Strong communication skills and the ability to learn fast.
• A solid understanding of Bank accounting policies, trading policies, market practice, regulatory requirements and the inherent risks associated with capital market products.

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• Competitive rewards package: Performance bonus, Employee Share Ownership Program, Pension Plan Matching, and Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

Location

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.