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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 professional journey.

Objective

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

The Managing Director of FTP is responsible for 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 deep understanding of balance sheet dynamics, capital management, and the drivers of business profitability, along with a comprehensive grasp of the responsibilities and reporting structures of business lines.

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 underlying 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 aimed at guiding both Bank-wide and business-specific strategies and resource allocation.
  • Influence large-scale projects, including regulatory, strategic, technological, and customer-focused initiatives.

Daily Operations

  • Ensure that FTP methodologies align with industry best practices and reflect Scotiabank's strategic direction.
  • Develop and implement FTP methodologies for new financial products.
  • Assess regulatory liquidity developments and incorporate relevant cost-benefit analyses into proposals to align business strategies with future profitability.
  • Continuously enhance operational processes in line 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, and strategy teams.
  • Oversee FTP attributes in data architecture to ensure accurate and valuable reporting for decision-making.

Governance Responsibilities

  • Lead the FTP Steering Committee to develop and promote the strategic direction of FTP.
  • Provide guidance to the Asset & Liability Committee (ALCO) regarding product activities and their implications on the Bank's funding and market risks.
  • Support business line ALCOs in developing proposals and educational materials.
  • Provide updates to regional ALCOs as necessary.
  • Ensure the FTP Policy aligns with the Bank's strategic business and funding strategies.
  • Offer feedback on various treasury-related policies.

Team Leadership and Development

  • Lead a dynamic team focused on achieving results while managing multiple priorities.
  • Incorporate the Bank's risk appetite and culture into daily activities and decisions.
  • Create an environment that promotes effective operations in line with Scotiabank's values and compliance standards.
  • Foster a high-performance culture that attracts, retains, and develops talent through an inclusive work environment.
Qualifications
  • MBA or a degree in Business or related fields.
  • Over 10 years of experience in the financial industry, particularly in Funds Transfer Pricing, ALM, liquidity risk, and performance management.
  • Proven leadership experience.
  • Extensive interaction with senior management across the organization.
  • Strong stakeholder management and communication skills.
  • Solid understanding of financial principles and risk concepts.
  • Demonstrated ability to manage people and processes effectively.

At Scotiabank, we value the unique skills and experiences of each individual and are committed to creating an inclusive and accessible environment for all.