Manager, Global Finance Product Control

1 week ago


Toronto, Canada Scotiabank Full time

Requisition ID: 178591

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

**Purpose of Job**

The Manager is responsible for the day-to-day operations, processing and assigned book-level analysis within the Product Control group for the Global Fixed Income Collateral Management and Funding business.

Product Control is the Profit & Loss control group for Scotiabank Global Banking & Markets. Product Control is responsible for P&L reporting, 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, identification and resolution of accounting & P&L discrepancies, and the maintenance of business performance and control MIS.

The Manager should provide a proactive and dynamic approach. They must be able to understand, analyze and comment on the drivers of P&L and Balance Sheet and to communicate effectively with management.

**Accountabilities**
- Assists management in being a part of a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
- Assists management in the maintenance of an efficient and risk effective control environment for Global Fixed Income business. The incumbent will be responsible for:

- 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.
- 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 workflows. 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.
- Accountable for providing P&L relates supporting information to trading desk, Risk Management and Finance including full decomposition of P&L by risk factors to ensure business partners have a clear understanding of the underlying drivers of the P&L
- Confirm and reconcile closing market risk positions Source system to traders estimate. This will require strong understanding of risk analytics to develop and implement infrastructure processes aimed at effectively capturing and reflecting risk profile of the business.
- 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.
- Assists management in the coordination of resolution of reporting issues and ensure accuracy of reporting. Summarize issues and put forth recommendations to management in a clear and concise manner. Suggest resolution to rectify and deficiencies.
- Maintain the various organizational controls and processes and ensure adherence to all regulatory requirements.
- Supports the Senior Manager and the 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 and Education**
- A degree in Accounting, Finance, Economics, or a quantitative discipline including Mathematics, Science, Computer Science, and Engineering or Financial Engineering.
- A professional accounting designation is desirable. An FRM/PRM or CFA would be an asset

scotiafinancejobs

Location(s): Canada : Ontario : Toronto || Canada : Alberta : Calgary

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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