Senior Derivative Hedge Manager

2 weeks ago


Toronto, Ontario, Canada Scotiabank Full time

About the Role

As a Senior Derivative Hedge Manager, you will play a crucial role in implementing hedging strategies that align with International Financial Reporting Standards (IFRS). Your expertise will ensure the Bank qualifies eligible derivatives for hedge accounting treatment, effectively mitigating volatility in earnings and adding value to our business lines.

What You'll Do

  • Serve as a key liaison between various stakeholders, including business partners, control functions, technology teams, and the Derivative Hedge Qualification department, driving exciting system enhancements and upgrades.
  • Collaborate closely with IT support for the Hedge Accounting & Qualification System (HAQS) and other IT teams to ensure proposed changes to HAQS and its feeder systems do not negatively impact hedge qualification or P&L volatility.
  • Guarantee that all system modifications are thoroughly tested, implemented correctly, and do not disrupt existing functionality.
  • Lead a team of direct reports in working with colleagues to raise, test, and release JIRAs for HAQS issue fixing, functional enhancements, and upgrades, including minor fixes to large-scale projects. Review and approve necessary documentation.
  • Coordinate various initiatives and projects from a system perspective, encompassing HAQS adaptation due to enhancements or changes from upstream/downstream systems or market-driven modifications.
  • Oversee smart automation, including EUC automation and system-related controls such as access control.
  • Effectively manage direct reports by establishing performance objectives, defining roles and expectations, measuring and providing timely feedback. Offer direction, coaching, and training to foster the continued development of your team members.

What You'll Bring

  • Demonstrate strong motivational, coaching, curious, analytical, and collaborative skills, along with proven problem-solving, time-management, and communication abilities.
  • Exhibit a proactive and creative approach with a solid track record of planning and managing competing priorities.
  • Possess meticulous attention to detail and the ability to analyze and document complex systems effectively.
  • Have a comprehensive understanding of hedge accounting, finance, and financial products, including various derivatives.
  • Hold a post-secondary degree in Finance/Accounting/Business/Computer Science with a minimum of 7 years of relevant experience.
  • Be familiar with the Bank's operations, procedures, HAQS, PEAK, JIRA, PeopleSoft EGL, OBI, Excel, and PowerPoint.

What We Offer

  • A collaborative and inclusive work environment that encourages creativity, curiosity, and celebrates success.
  • A competitive rewards package including a performance bonus, Employee Share Ownership Program, pension plan matching, and comprehensive health benefits from day one.
  • Opportunities for career development and progression within Scotiabank.


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