Manager, GFI Product Control

1 week ago

Toronto, Canada Scotiabank Full time

 

 

 

Requisition ID: 211251

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

 

Product Control is the Profit & Loss control group for Scotiabank Global Banking & Markets.  Product Control is responsible for P&L reporting, risk attribution and analysis, valuation & independent price verification (IPV), reconciliation of reported P&L to Front Office estimates and to the general ledger, the substantiation of balance sheet accounts, identification and resolution of accounting & P&L discrepancies, and the maintenance of business performance and control MIS.

 

The Manager is responsible for the day-to-day operations, processing and assigned book level analysis within the Product Control group for the Global Fixed Income Securitization business.

 

The Manager will provide a proactive and dynamic approach with assistance from their Senior Manager. They must be able to understand, analyze and comment on the drivers of P&L and Balance Sheet and to communicate effectively with management.

 

Is this role right for you? In this role, you will:

 

  • Assist management in being a part of a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Assist management in the maintenance of an efficient and risk effective control environment for Global Fixed Income business. 
  • Ensure established process flows are completed to produce and report daily P&L.
  • Confirm P&L integrity/ validation through risk-based attribution. 
  • Reconcile daily P&L to FO expectations with corresponding P&L explanatory to ensure P&L Sign-off by the Front Office.
  • Coordinate and resolution of P&L breaks between FO and Product Control through collaborative dialogue.
  • Ensure daily reported P&L is reconciled to the Bank’s General Ledger and associated source system sub ledgers.
  • Adopt of a proactive approach to ensure breaks are escalated and resolved on a timely basis as required by established workflows. 
  • Ensure balance sheet accounts are substantiated and that all accounting issues are resolved on a timely basis. 
  • Orchestrate and complete the Month-End Close Sign-off and MIS Package.
  • Be accountable for providing P&L relates supporting information to trading desk, Risk Management and Finance including full decomposition of P&L by risk factors to ensure business partners have a clear understanding of the underlying drivers of the P&L        
  • Confirm and reconcile closing market risk positions Source system to traders estimate.  This will require strong understanding of risk analytics to develop and implement infrastructure processes aimed at effectively capturing and reflecting risk profile of the business.
  • Oversee the Production, Review and Analysis of IPV, Reserves and Fair Value Adjustments as may be required in agreement with Risk Management and as required by Bank Guidelines.
  • Work on the coordination and timely resolution of Issues with the Front and Back Offices, and Risk Management.
  • Assist management in the coordination of resolution of reporting issues and ensure accuracy of reporting. 
  • Summarize issues and put forth recommendations to management in a clear and concise manner. Suggest resolution to rectify and deficiencies.
  • Maintain the various organizational controls and processes and ensure adherence to all regulatory requirements.
  • Support the Senior Manager in establishing support for new products/business in a controlled manner and actively engage in requests for support, analysis and information from various constituents including the Front Office, Risk Management, Operations, Finance, Audit and Regulators.

 

Do you have the skills that will enable you to succeed? We’d love to work with you if you have:

 

  • A degree in Accounting, Finance, Economics, or a quantitative discipline including Mathematics, Science, Computer Science, and Engineering or Financial Engineering.
  • A professional accounting designation is desirable.
  • An FRM/PRM or CFA would be an asset.

 

Location(s):  Canada : Ontario : Toronto 

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.  

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 (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. 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.

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