Requisition ID: 179667

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

Analyst - OTC Confirmations

Purpose of Job:

The trade confirmation process performed by Global Wholesale Operations (GWO) is a key control within Scotiabank’s Global Banking and Markets (GBM) trading environment.

The GWO Over-the-Counter (OTC) Confirmations department’s primary responsibilities are to ensure trades are booked correctly by affirming trades with counterparties, to negotiate and execute confirmations, and to reconcile the bank’s positions to external electronic trade execution and affirmation/confirmation platforms.

The OTC Confirmations Analyst is responsible for maintaining controls, resolving confirmation issues, coordinating legal reviews pertaining to Money Market Trade Confirmations, and contributing to the department's continuous improvement of processes and controls.

Key Job Accountabilities:

1. Ensure risk inherent in the trade confirmation process is identified, understood, monitored, and controlled. This includes:

• Ensure all trades are recognized by trade counterparties, economic terms of all transactions are matched on, and all breaks are identified, reported, and resolved
• Generate and execute trade confirmations in accordance with the Bank policy
• Ensure the trades are reconciled with external electronic trade execution and affirmation/ confirmation platforms
• Timely escalation and resolution of any issues
• Investigate issues such that root causes are identified and appropriate actions are taken to prevent recurrence
  

2. Ensure a high degree of processing accuracy, customer service, and operational efficiency:

• Maximize STP rates and the use of automation to ensure controlled efficient operations
• Identify and implement opportunities for improvement in controls, customer service, productivity, and cost effectiveness
• Understand customer needs and maintain customer service standards
• Develop and maintain relationships with customers, at both the operations staff and management levels, allowing for effective escalations and issue resolution
• Ensure customer issues are identified, reported, and escalated, and resolution is coordinated with internal stakeholders and the relationship owners

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

Skills, Experiences and Functional Competencies:

• Business/Finance, Law or Engineering University Degree, or a related educational background
• Sound Knowledge of Money Market Products (Cash Loans/Deposits)
• Sound Knowledge of Settlement Process
• Knowledge of Electronic Confirmations workflow using SWIFT MT320 messages
• Working knowledge of trade confirmation platforms – Bloomberg, GTSS, Misys and FXALL
• 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
• Passion for customer service
• Driven to improve efficiency and controls
• Superior organizational and time management skills
• Display ability to meet multiple deadlines in a dynamic, fast pace environment
• Strong Microsoft Office, Data Analytics and Process Re-Engineering skills, experience in (SQL, VBA, Phyton, Excel)

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.