Analyst, Otc Confirmations Jobs

Requisition ID: 181358

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

Analyst, OTC Confirmations

The Global Wholesale Operations (GWO) confirmation process is a key control within Scotiabank’s derivative products trading environment. The GWO Confirmations department’s primary responsibilities are to affirm transactions, prepare and issue ISDA confirmations that accurately reflect the trade booking of the transaction, examine and verify ISDA confirmations received from issuing counterparties ensuring details accurately reflect the trade booking of the transaction, follow-up on unexecuted confirmations, and to reconcile the Bank’s positions to external electronic trade execution and affirmation/confirmation platforms and to Central Counterparty Clearing Houses(CCPs).

Purpose

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

Key Job Accountabilities

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

Skills, Experiences And Functional Competencies

• Passion for customer service
• Driven to improve efficiency and controls
• Business/Finance, Law or Engineering University Degree, or a related educational background
• Strong computer, data analytics, and process re-engineering skills
• Accurate and detail oriented with an analytical mind and the ability to detect, articulate, and effectively escalate and resolve issues
• Excellent interpersonal and communication skills
• Expert knowledge of FX Options, OTC Equities and Interest Rate Derivatives’ ISDA trade confirmations
• Ability to prioritize and multitask effectively
• Strong knowledge of ISDA Definitions, related templates and the ability to interpret and apply them to transactions

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.