Senior Manager, Contracts, Options and Derivatives

1 week ago


Old Toronto, Ontario, Canada Scotiabank Full time
About the Role

We are seeking a highly skilled Senior Manager to lead our Contracts and Derivatives clearing and Data control team in Canada. As a key member of our Global Wealth Management operations, you will be responsible for ensuring the efficient and effective management of our clearing and settlement activities.

Key Responsibilities
  • Oversee the daily operation of the Contracts and Derivatives Clearing departments, including Institutional, ScotiaMcLeod, Itrade, Prime Brokerages, Global Equity Derivatives, and Scotia Trust.
  • Monitor and ensure the accuracy of security prices, book cost, fees, and annual performance measurements in accordance with established procedures and regulatory requirements.
  • Contribute to the effective maintenance of business controls to operationalize high-quality market information for client accounts.
  • Ensure efficient measures are in place to control the risk associated with the daily balancing of all exchange clearing accounts for the firm.
  • Reconcile Canada and US stock exchange and Options derivatives exchange positions and settlement amounts to the clearing corporation and process deliveries in a timely manner.
  • Lead the team that specializes in pricing, book cost, and data control.
  • Critically evaluate and identify areas of control weakness and make recommendations for process improvements.
  • Lead and drive a customer-focused culture throughout the team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
  • Collaborate with leaders across Wealth Management Operations and Business lines to provide strong support to the business.
  • Ensure regulatory and corporate policies and established procedures applicable to the unit(s) are fully adhered to.
  • Actively pursue effective and efficient operations of the respective areas in accordance with Scotiabank's Values, its Code of Conduct, and the Global Sales Principles, while ensuring the adequacy, adherence to, and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions, and conduct risk.
  • Champion a high-performance environment and contribute to an inclusive work environment.
Requirements
  • Knowledge of Broadridge systems (HOD, OnDemand, CDS, Webpost, CDCC, OCC, Charles River, PureFact reporting).
  • Knowledge of Microsoft Office.
  • Ability to provide reliable and timely responses professionally to direct inquiries.
  • Knowledge of Brokerage industry, particularly related to trade processing, balancing, and security codes.
  • Strong communication and organizational skills.
  • Business degree or equivalent investment industry experience with specific exposure to Stock exchange and Options & Trade Processing.
  • 7+ years management experience.
Preferred Qualifications
  • Effective decision-making ability required to oversee the daily functioning of the Contract and Derivative clearing department.
  • A subject matter expertise in investment industry regulations as they pertain to equity trade processing and options/futures clearing.
  • Excellent analytical/problem-solving, and creative thinking skills required to be able to react and resolve problem situations with minimum risk exposure to the firm.
  • The ability to work under pressure to achieve required service levels with available resources.
  • Strong time management skills required to excel in managing a high-volume multi-task environment.


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