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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 transferring interest rate and liquidity risks from various business units to a centralized treasury unit. This process enables business units to maintain a margin that aligns with pricing strategies while allowing the Bank to effectively manage associated market risks.

The Managing Director of FTP (MD) plays a pivotal role in overseeing this framework by 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 dynamics, capital management, and profitability drivers, alongside a deep knowledge of business line responsibilities and reporting requirements.

Key Responsibilities

Strategic Profitability Insights

  • 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 overarching business strategies.
  • Collaborate with Group Treasury funding desks to determine the optimal funding mix and ensure awareness of business implications.
  • Articulate funding, liquidity, and interest rate risk parameters to business partners, providing insights on product structures that enhance profitability.
  • Contribute to organizational initiatives that guide Bank-wide and business-specific strategies and resource allocation.
  • Provide strategic influence for large-scale projects, including regulatory, strategic, technology, and customer-focused initiatives.

Daily Operations

  • Ensure FTP methodologies align with industry best practices and reflect Scotiabank's strategic direction and Group Treasury's funding and risk management objectives.
  • Develop, communicate, and implement FTP methodologies for new financial products.
  • Assess the implications of regulatory liquidity developments and incorporate 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 roadmaps.
  • Identify opportunities to optimize the Bank's balance sheet structure through improved margin reporting and information delivery.
  • Provide ongoing support to business line ALCOs, product groups, regional and business line treasury and finance units, and strategy teams.
  • Oversee FTP attributes in data architecture to ensure accurate and valuable reporting for decision-making and disclosure purposes.

Governance Responsibilities

  • Lead the FTP Steering Committee to develop, communicate, and promote the strategic direction of FTP.
  • Provide guidance to the Asset & Liability Committee (ALCO) regarding product activity and its implications on the Bank's funding and market risks.
  • Support business line ALCOs in developing proposals, discussion items, and educational materials.
  • Deliver FTP-related updates to regional ALCOs as necessary.
  • Ensure the FTP Policy aligns with the Bank's strategic business, funding, and balance sheet management strategies.
  • Provide feedback and assistance for various treasury-related policies.

Team Leadership and Development

  • The Managing Director FTP cultivates and leads a dynamic, results-oriented team capable of managing multiple priorities under tight deadlines. The MD must also strategically influence cross-functional groups to ensure alignment of FTP priorities with business and operational objectives.
  • Recognize how the Bank's risk appetite and culture should inform daily activities and decisions.
  • Create an environment where the team operates effectively and efficiently in accordance with Scotiabank's values, Code of Conduct, and Global Sales Principles, ensuring adherence to operational, compliance, and conduct risk obligations.
  • Foster a high-performance environment by implementing a people strategy that attracts, retains, develops, and motivates team members, promoting an inclusive work culture and utilizing a coaching approach.
Qualifications
  • MBA or a relevant undergraduate/graduate degree in Business or related fields.
  • Over 10 years of experience in the financial industry, particularly in Funds Transfer Pricing, ALM, liquidity risk, product/financial control, and performance management.
  • Proven team leadership experience.
  • 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.
  • Demonstrated experience in managing people and processes with strong interpersonal skills, capable of working effectively across organizational lines.

Location(s): Canada : Ontario : Toronto

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation during the recruitment and selection process, please let our Recruitment team know. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.