Manager, Group Treasury Product Control

4 days ago

Toronto, Canada Scotiabank Full time

Requisition ID: 154997

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

The Manager - Group Treasury 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 Group Treasury. The Manager can be charged with the supervision of other P&L Analysts (1 to 2) and / or be assigned books / strategies that are more complex and require a higher level of analytical skill and experience.

The Product Control Department is the Profit & Loss control group providing support to Scotiabank Global Banking & Markets and Group Treasury. This encompasses daily P&L reporting 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. Product Control operates within an evolving business environment and adapts to facilitate an evolving business and support their growth and expansion.

As the Product Control function is still relatively new to Scotiabank, the Manager should provide a proactive and dynamic approach.

The position is based in Toronto.

**Key Accountabilities**:
The Incumbent will play a key role in the maintenance of an efficient and risk effective control environment for Group Treasury. The incumbent will be responsible for:
1. Production or coordination of staff to ensure established process flows are completed to produce and report daily P&L. Confirmation of P&L integrity/ validation through risk based attribution. Reconciliation of daily P&L to FO expectations with corresponding P&L explanatory to ensure P&L Sign-off by the Front Office. Coordination and resolution of P&L breaks between FO and Product Control through collaborative dialogue.

2. Ensuring daily reported P&L is reconciled to the Bank’s General Ledger and associated source system sub ledgers. Adoption of a proactive approach to ensure breaks are escalated and resolved on a timely basis as required by established work-flows. Ensuring balance sheet accounts are substantiated and that all accounting issues are resolved on a timely basis. Orchestrate and complete the Month-End Close Sign-off and MIS Package.

3. Strong understanding of risk analytics to develop and implement infrastructure processes aimed at effectively capturing and reflecting risk profile of business.

4. Production, Review and Analysis of IPV, Reserves and Fair Value Adjustments as may be required in agreement with Risk Management and as required by Bank Guidelines. The coordination and timely resolution of Issues with the Front and Back Offices, and Risk Management.

5. Supporting other financial and regulatory reporting needs as may be required.

The incumbent will support the Senior Manager and Director in establishing support for new products/business in a controlled manner and actively engage in requests for support, analysis and information from various constituents including the Front Office, Risk Management, Operations, Finance, Audit and Regulators.

**Experience & Education**:
An understanding of Treasury function - hedging, funding. Understanding of various accounting treatments (MTM, HTC, HTC&S) and hedge accounting.
Experience with P&L construction and risk attribution, capital markets accounting, balance sheet substantiation and IPV process.
A minimum of 4 - 6 years in relevant hands-on experience in Product Control (alternatively, Middle Office, Product Control, Finance or Operations) supporting a Capital Markets environment.
Expert knowledge of P&L and Balance Sheet control backed by a Business Degree focused on Finance and Accounting and/ or Risk Analytics. A professional accounting designation is preferred. A CFA or FRM will also be an asset.
A solid understanding of Bank accounting policies, trading policies, market practice, regulatory requirements and the inherent risks associated with all of capital market products.
Strong problem solving skills and proficiency with Excel.
Strong communication skills and the ability to interact with a demanding Front-Office client base.
The incumbent must have leadership ability, be self-motivated and be able to operate in a back-up capacity to the Senior Manager.

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.

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