Associate, First Line Supervision Support

Requisition ID: 209757

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

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.

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.

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries We work together to drive ambition for every future

**Purpose**
Assist and lead, as required, with the management of Operational Risk inherent in capital markets activities as part of the GBM Internal Control Canada (GBM IC Canada) group within Global Banking & Markets (GBM). The incumbent will monitor, review and report on the management of Operational Risk within GBM. Responsibilities will include ensuring effective internal controls exist, address issues, as and when they arise and provide general support and oversight (as delegated by Management) in GBM.

**What You'll Do**:

- Pre-Trade Mid-Market Marks (PTMM)
- Perform daily testing across various asset class products and provide the analysis to Head Trader to assess if PTMM calculated by the traders is reasonable and consistent with the markets, this includes: (i) review trader pricing spreadsheets to ensure market data and relevant calculation are captured to demonstrate how PTMM is calculated. (ii) Provide comparison between mid-market marks provided to counterparties against end-of-day marks generated by trading source systems; (iii) reconstruct pricing curves using Bloomberg data to calculate intraday mid-market marks and provide it as additional data point for Head Traders’ review and assessment
- Summarize results of daily PTMM review in a monthly memo for the respective Head Traders
- Assist Head Traders with change control on PTMM EUC pricers and maintain the current inventory of PTMM EUC pricers used by GBM trading desks
- Central Counterparty (CCP) Default Management Fire-Drills
- Coordinate with the trading desks and support units to facilitate the Bank’s participation in the mandatory semi-annual or annual default management fire drills conducted by central counterparties (CME, LCH, ICE Clear and CDCC etc);
- Support Assistant Director and Director in managing simulation default management processes, including: (i) assisting in the testing and validation of the portfolio conversion; (ii) running risk reports for traders to use in computing costs to assume the portfolio; (iii) providing QA on cost components calculated by the front office; (iv) consolidating cost components and portfolio valuations into a bid to be submitted to CCPs; (v) debriefing stakeholders on fire drill results, documenting issues raised during the fire drill process and action items required to remediate
- Trade Supervision
- Assist Director or Associate Director in drafting or updating Written Supervisory Procedures (“WSPs”) for the supervision responsibilities of the Trading and Sales supervisors, as required by the associated regulations or Bank’s policy
- Assist Director or Associate Director in implementing, assigning WSPs, monitoring and reporting of WSP reports sign-off status by the supervisors
- Assist Trading and Sales Management in the oversight and supervision of sales and trading staff, escalating key issues to desk heads, as and when they occur; and reporting, on a monthly basis, metrics and dashboards to Senior Management and Desk Heads
- Monitoring the position limits imposed by the various exchanges and ensure all the trading positions are maintained within the limits
- Support trading desks during Bank of Canada auctions to ensure SCI adheres to all primary Dealer requirements, conduct a post auction check for completeness and correction in booking the allotments
- Ensure the GBM Operational Risk Management Framework is upheld and that the associated processes, including generating and reporting key metrics for discussion at Senior Management Operational Risk Committee meetings, reflect the key principles of the Framework
- Maintain regular communication with GBM stakeholders to determine changes required to processes and controls
- Assist Director or Associate Director