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Director of Funds Transfer Pricing, Finance

2 months ago

Old Toronto, Ontario, Canada Scotiabank Full time

Requisition ID: 204201

At Scotiabank, we are dedicated to fostering the growth of our employees and supporting your career advancement.

Objective

The Funds Transfer Pricing (FTP) framework is essential for managing interest rate and liquidity risks by transferring these risks from various business units to a centralized Group Treasury unit. This approach ensures that business units receive margins that align with pricing strategies while enabling the Bank to manage market risks effectively.

The Managing Director of FTP (MD) plays a pivotal role in overseeing this framework, engaging with senior leaders across business units, Group Treasury, GRM, and Finance to discuss product pricing, profitability, and best practices in funds transfer pricing.

To excel in this role, the MD must possess a comprehensive understanding of balance sheet management, capital allocation, and the factors driving business profitability, along with a deep knowledge of the responsibilities and reporting requirements of business lines.

Key Responsibilities

Strategic Profitability Initiatives

  • Communicate effectively with senior leadership regarding the implications of Net Interest Margin (NIM) at both the business line and Bank levels in relation to FTP and associated business strategies.
  • Collaborate with Group Treasury funding desks to determine the optimal funding mix and ensure awareness of business impacts.
  • Articulate funding, liquidity, and interest rate risk parameters to business partners, providing insights on product structures that enhance profitability for both the business and the organization.
  • Contribute to broader organizational initiatives aimed at guiding Bank-wide and business-specific strategies and resource allocation.
  • Influence large-scale projects that encompass regulatory, strategic, technological, and customer-focused initiatives.

Daily Operations

  • Ensure that FTP methodologies are in line with industry best practices and reflect Scotiabank's strategic objectives and Group Treasury's funding and risk management policies.
  • Develop, communicate, and implement FTP methodologies for new financial products.
  • Assess the implications of regulatory liquidity changes and integrate relevant cost-benefit analyses into proposals to align business strategies with future profitability.
  • Continuously enhance operational processes to align with the Bank's IT and Finance strategies.
  • Identify opportunities to optimize the Bank's balance sheet structure through improved margin reporting and information dissemination.
  • Provide ongoing support to business line Asset-Liability Committees (ALCOs), product groups, regional treasury units, and strategy teams.
  • Oversee FTP data architecture to ensure accurate and valuable reporting components for decision-making and disclosure purposes.

Governance Responsibilities

  • Lead the FTP Steering Committee, responsible for developing and promoting the strategic direction of FTP.
  • Advise the Asset & Liability Committee (ALCO) on FTP-related product activities and their potential impacts on the Bank's funding and market risks.
  • Support business line ALCOs in developing proposals, discussion materials, and educational resources.
  • Provide FTP updates to regional ALCOs as necessary.
  • Ensure that the FTP Policy aligns with the Bank's strategic business, funding, and balance sheet management strategies.
  • Offer feedback on various treasury-related policies as needed.

Team Leadership and Development

  • The Managing Director of FTP is responsible for cultivating a dynamic, results-oriented team capable of managing multiple priorities within tight deadlines. The MD must also lead and influence cross-functional groups to ensure alignment of FTP priorities with business and operational objectives.
  • Understand the Bank's risk appetite and culture in daily activities and decision-making.
  • Create an environment where the team pursues effective operations in accordance with Scotiabank's values, Code of Conduct, and Global Sales Principles, while ensuring compliance with operational, regulatory, and conduct risk obligations.
  • Build a high-performance culture and implement a people strategy that attracts, retains, develops, and motivates team members by fostering an inclusive work environment and utilizing a coaching approach.
Qualifications
  • MBA or an undergraduate/graduate degree in Business or related fields.
  • Over 10 years of experience in the financial sector, particularly in Funds Transfer Pricing, ALM, liquidity risk, product control, and performance management.
  • Proven leadership experience in team management.
  • Extensive interaction with senior management across the organization.
  • Strong stakeholder management skills with excellent communication and presentation abilities.
  • Solid grasp of financial principles, risk concepts, financial analysis, and accounting practices.
  • Demonstrated capability in managing people and processes with strong interpersonal skills, effectively navigating organizational dynamics.

At Scotiabank, we value the diverse skills and experiences that each individual brings, and we are committed to fostering an inclusive and accessible environment for all. If you require accommodation during the recruitment process, please inform our Recruitment team. Candidates must apply directly online to be considered for this role. We appreciate all applicants' interest in a career at Scotiabank; however, only those selected for an interview will be contacted.