Business Analyst

Our Clients Regulatory Business Initiatives Group is looking for 3 Business Analyst's to work for a project involving our Client's Canadian Repo Trading Business. You would be joining a brand new project specifically involving GlobalOne using your expertise within the Canadian Repo Market, more particularly Tri-Party Repos.

Tri Party Repos (CDN Market):

In the Canadian capital markets, tri-party repos function similarly to their global counterparts but with some specific considerations due to regulatory and market conditions. Here are key points about tri-party repos in the Canadian context:

• Tri-party repos in Canada involve three main participants:
• Borrower: Typically a financial institution, such as a bank or a broker-dealer, seeking short-term funding.
• Lender: Usually a money market fund, another financial institution, or an individual investor providing funds.
• Custodian: An entity, often a major bank or financial institution, acting as the custodian of the collateral and providing operational support for the repo transactions.

Collateral: The collateral used in Canadian tri-party repos typically includes high-quality securities such as government bonds, provincial bonds, and other liquid assets that meet regulatory requirements.

Operational Support: The custodian plays a crucial role in Canadian tri-party repos by providing operational support for the transactions. This includes managing the collateral, facilitating settlement, and ensuring compliance with regulatory requirements.

Regulatory Environment: Tri-party repos in Canada are subject to regulatory oversight by authorities such as the Bank of Canada, the Office of the Superintendent of Financial Institutions (OSFI), and securities regulators. Regulatory requirements ensure transparency, risk management, and stability in the repo market.

Market Dynamics: The dynamics of the Canadian tri-party repo market may be influenced by factors such as interest rates, market liquidity, credit conditions, and regulatory changes. Participants in this market need to stay informed about market developments and regulatory updates.

Overall, tri-party repos in the Canadian capital markets provide a mechanism for efficient short-term funding, collateral management, and liquidity management for financial institutions and investors operating in the region.

Roles Available:

1. RBI Business Analyst
2. Operations Business Analyst
3. Financial Reporting Business Analyst

Daily Responsibilities (RBI BA):

• The main function of a Repo Business Analyst is to solicit, analyze, document and trace requirements and process flows throughout the project lifecycle.
• Gather requirements, analyze and perform requirements and impact analysis, document and trace requirements throughout the project lifecycle
• Document and obtain agreement for the Target Operating Model and To-Be workflow
• Develop test strategy; collect test cases and exit criteria, coordinate; track and report testing updates; collect testing signoff
• Facilitate static and reference data mapping and setup as required
• Coordinate and facilitate project implementation (e.g., arrange system access and dress rehearsals)

Must Haves (RBI BA):

• In-depth understanding of Canadian repo market, trading lifecycle and process flow, including triparty repo
• Excellent skills in leading requirements workshop, documenting, analyzing, perform impact analysis of requirements
• Solid experience in soliciting and documenting To-Be/Target State process flows
• Experience in developing test strategy for repo projects; tracking and reporting test statistics
• GlobalOne, Anvil and/or ION

Daily Responsibilities (Ops BA):

• Works with key stakeholders within all business functions, particularly in Operations, to solicit, analyze, document and trace requirements and process flows throughout the project lifecycle for the Canadian Collateral Management system implementation.
• Based on business function, document requirements (including impact analysis), design testing scenarios and conduct UAT testing scenarios
• Coordinate with Operations Test Lead to ensure all testing is performed and results accurately recorded within the Industry/project testing repository tool – JIRA
• Log testing issues in a timely manner and escalate to Ops Test Lead and program management where appropriate
• Attend project checkpoint and provide confirmation of completion of daily testing
• Partner with Utility teams to develop unscripted test scenarios specific to Scotia processes and systems
• Document missing functions or changes in functions that require standard operating procedure changes
• Provide frequent and professional progress updates back to the Utility Team Lead and Project team
• Candidate will coordinate with leads from the respective operational utilities
• The documentation, testing and product life cycle managements is firmly of an operational nature
• There is no development, coding, or technical testing experience required

Must Haves (Ops BA):

• 5+ years of BA or QA Project experience relating to large scale testing cycles (understanding testing scenarios, how tests are designed, built, cycles etc..)
• 5+ years of FI experience (tech or operations) - no coding or development experience required, supporting operational functions
• 3-5 years of proven knowledge of settlements function related to Capital Market Functions; with product knowledge relating to repos, reverse repos and more
• Knowledge of MS Excel and MS Access – not programmable knowledge but candidate should be comfortable using these 2 tools.
• Prior knowledge of Canada's settlement systems and settlement conventions
• Experience working with Client, BPS, and or other applications (ATON, Cage, CPNS, BPSA, ECA, ClearancePro, AS400, Global One)
• Direct experience working with the current TMX CDSX system
• As these are operational functions that are changing, any previous exposure to these functions: settlements, corporate actions, reconciliations, confirmations, etc – will be useful for understanding the testing requirements and impacts to processes

Daily Responsibilities (Financial Reporting BA):

• Document current state operating model
• Gather requirements, analyze and perform requirements and impact analysis, document and trace requirements throughout the project lifecycle
• Document and obtain agreement for the Target Operating Model and To-Be workflow
• Create test cases, coordinate and execute
• Facilitate static and reference data mapping and setup as required
• Coordinate and facilitate project implementation (e.g. arrange system access and dress rehearsals)
• Keep both Project Manager and Operation's stakeholder apprised at each decision stage

Must Haves (Financial Reporting BA):

• Knowledge of Client (BPS) and Anvil experience is an asset
• Knowledge of repo accounting, controls and reconciliations
• In-depth understanding of Canadian repo market, trading lifecycle and process flow, including tri-party repo
• Excellent skills in leading requirements workshop, documenting, analyzing, perform impact analysis of requirements
• Solid experience in soliciting and documenting To-Be/Target State process flows
• Experience in developing test strategy for repo projects; tracking and reporting test statistics
• More than 5 years of experience in capital market finance and operations (repo, collateral, settlement, asset servicing, accounting, and regulatory reporting experience is preferred)
• CIRO reporting experience will be an asset
• Knowledge and experience with the application SAP Crystal Reports is an asset