Analyst - Derivative Settlements

Requisition ID: 161172

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

**Why work for Scotiabank?**

Scotiabank is among the largest banks in the world and the most international bank in Canada. We are powered by our 97,000 high-performing teammates who make a real difference across the globe as a leading provider of advice, products, digital experiences, and financial services. Together with our Digital Factories around the world, we are dedicated to helping our 25 million customers become better-off.

This is a place where you’ll get to learn and develop your skills, while being recognized for your hard work. At Scotiabank, we’re passionate about bringing our whole selves to work, allowing us to create inclusive work environments for everyone to enjoy. Say hello to a career at Scotiabank

**Global Banking and Markets**

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange, and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.

**Purpose**

Contributes to the overall success of Derivative Settlements / Settlements and Clearing in Canada ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.

**Accountabilities**
- Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
- Responsible for day-to-day operational activities. This includes but is not limited to completing daily settlements within establish work priorities, assistance with reconciliation of cash related accounting breaks, investigation of settlement differences with clients, sending rate reset notifications to clients, completing tasks relating to rate resets, sending MTM reports to clients, involvement with projects as they relate to the team, as well as any other assigned daily control points.
- Responsible for effectively supporting, communicating with, and maintaining excellent working relations with front office, product control, technology and any other related stakeholders in order to ensure that when all interconnected processes take place in an accurate and timely manner and that any discrepancies are addressed effectively.
- Responsible for providing accurate and informative analysis to the management team as requested.
- Responsible for being the first point of contact in providing excellent customer service by effecting insightful feedback and accurate analysis in a timely manner on all customer requests as they relate to settlements, rate reset notices, and MTM reports.
- Develop a sound understanding of the products supported/settled. (Cross Currency Swap, Single Currency Swap, Credit Default Swap, Inflation Swap, Total Return Swap, Forward Rate Agreement, Forex, FX Options, FX Commodity Options, Equity Options, Loans, Deposits, Swaption, Single Currency Extend, Single Currency Call, Cap, Floor, FX Strip).
- Will be responsible for identifying and helping to mitigate any inherent operational risks as they relate to overall team. This includes, but is not limited to, cross-training and providing coverage on other settlement desks for vacations and unexpected absences; review, evaluate and implement new and existing procedures (SOPs).
- Will consistently look for process improvements opportunities to maximize efficiencies. Performs other duties as assigned.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
- Champions a high-performance environment and contributes to an inclusive work environment.

**Requirements**:

- University Bachelor’s Degree
- Good / Solid understanding of the Derivative products
- 2+ years of working knowledge in Banking Settlements

**Working Conditions**
- Work in a standard office-based or temporary remote environment between core operational hours 8:30am -6pm
- Extended standard hours are a common occurrence