Requisition ID: 179749

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

Why work for Scotiabank?

Scotiabank is among the largest banks in the world and the most international bank in Canada. We are powered by our 97,000 high-performing teammates who make a real difference across the globe as a leading provider of advice, products, digital experiences, and financial services. Together with our Digital Factories around the world, we are dedicated to helping our 25 million customers become better-off.

This is a place where you’ll get to learn and develop your skills, while being recognized for your hard work. At Scotiabank, we’re passionate about bringing our whole selves to work, allowing us to create inclusive work environments for everyone to enjoy. Say hello to a career at Scotiabank!

Global Banking and Markets

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange, and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.

Purpose

The Assistant Manager, Collateral Operations is responsible for providing global operational support for the Collateral Operations team within the Global Wholesale Operations (GWO) division of the Bank. The Collateral Operations team is responsible for providing operational support to the global business lines of the Bank by assisting to faciliate a broad range of complex, high value collateralized transactions. Accounting and risk management are considerable in this fast paced business and errors can incur significant costs.

In doing so, the incumbent must provide, understand, and facilitate:

• efficient and economical processes / operations / a robust control framework
• ensuring that specialized securities and cash margin settlement risks are understood and controlled
• internally / externally initiated changes impacting assigned areas are understood, communicated, planned for, and implemented

Is this role right for you?

As the Assistant Manager you will be required to:

• Provide focused customer service thereby setting examples for the team to follow.
• Maintain a positive working relationship with all stakeholders ensuring all collateral issue (margin calls, settlements, exposures) and from time-to-time, reconciliations, are dealt with professionally and promptly.
• Be a point of reference to the team members for interpretation, learning and understanding of task and responsibilities.
• Contribute to the efficient cost effectiveness of the unit’s operation.
• Monitoring to ensure appropriate action is taken to address any outstanding problems to meet regulatory guidelines.
• Supervise and be a point of reference for other team members regarding collateral management processes and procedures.
• Monitoring daily processes ensuring timely action and responses are given to issues that arise while ensuring deadlines and collateral coverage is successful.
• Foster the identification of operational inefficiencies, risks, and problems by the team.
• Measurement and improvement of Key Performance Indicators including targets and trends.
• Coordination of processes to discuss Root Cause Problem Solving identified and the recommendation of solutions to senior management as necessary.
• Assist as a change agent in introducing any systemic changes or enhancements.
• Review of critical reports and completed work to track exception items and to assess necessity to amend or improve processes.
• Provide support to the Manager, Sr. Manager and Director for project type activities that require established procedures and ensure successful implementation.
• Be responsible for prudent fiscal expense management within the team

• Ensure service levels meet customer needs in a manner consistent with Scotia Service Standards by:
• Providing focused customer service to both internal and external customers.
• Ensuring all client margin calls are processed and cleared daily in a timely and accurate manner.
• Responding promptly and professionally to inquiries from customers, business lines supported and other units within GWO.
• Ensuring that any activity undertaken by the unit in support of the various business lines that could have adverse customer impact is promptly identified and appropriate senior management / business lines are notified accordingly

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

• Exceptional communication, interpersonal and organizational skills are required for this role as well as good people management, leadership, and coaching ability.
• Highly developed analytical and problem-solving skills are necessary as well as a good knowledge of the Bank’s operational and compliance policies, practices, and procedures. Industry standards and infrastructure rules and regulations in relation to North American settlements are also required.
• Must be conversant and have a strong grasp of principles within the Securities Lending industry as well as the systems used by the unit including Collateral Operations Systems (Global One as an example), Anvil, CDS, DTC. Tri-Party platforms.
• Must possess expert knowledge of all Bank policies, regulatory requirements, limits, and controls which may affect or restrict all aspects of the day-to-day responsibilities for the unit.
• Ability to provide reliable and timely responses confidently to direct inquiries from customers, traders/sales personnel & management.
• Ability to effectively delegate, team build and provide coaching and feedback.
• Sound appreciation of the risks inherent in the unit.
• Ability to manage in a rapidly changing environment regarding policies, procedures, automated systems, and client needs.
• The position requires a minimum of five years’ experience in a team leadership role with experience in coaching and performance appraisals.
• Complete understanding of all regulatory reporting requirements.

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.