Manager, Contracts, Options & Derivatives Clearing

Job title:

Manager, Contracts, Options & Derivatives Clearing

Company

Scotiabank

Job description

Requisition ID: 208688Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.As the Manager, Contracts, Options & Derivatives Clearing you will manage the daily operation of the Contracts & Derivatives Clearing departments for Scotia Capital Inc. which includes ensuring efficient measures are in place to control the risk associated with the daily balancing of all exchange clearing accounts for the firm and that all Canada and US stock exchange & Options derivatives exchange positions and settlement amounts are reconciled to the clearing corporation and any deliveries are processed on a timely manner according to industry and regulatory requirements. You will also be responsible for reviewing and testing any system and procedural changes affecting the operations of the department and systems prior to implementation. The Manager will also be responsible for ensuring regulatory and corporate policies and established procedures applicable to the unit(s) are fully adhered to.Is this role right for you? In this role you will:

• Act as the primary point of contact with Trade Desk staff on all matters related to trade processing
• Verify all exchange clearing accounts and reconcile daily for Equities and Derivatives and ensure all discrepancies are promptly investigated and resolved
• Ensure any monetary exposure to the firm due to trading errors are eliminated and signed off daily
• Prepare and analyze statistics and management reports ensuring cost effectiveness of the department and performance targets are met
• Prioritize departmental activities and organize and assist staff and other resources as required to meet business objectives and goals
• Ensure margin & escrow requirements on option accounts are covered in a timely manner
• Maintain a prominent level of client service and encourage open lines of communications with both front office and other internal contacts
• Ensure all client initiatives are thoroughly reviewed and discussed resulting in a successful implementation
• Provide exceptional service to business lines focusing on supporting retail trading error as well as generating reports for trading error gains and losses
• Confirm various trades between different brokers and stakeholders and document review, archiving and regulatory reporting
• Ensure training and cross training programs are in place including delegation for results, task assignment and coaching
• Ensure all policies, procedures, and industry regulations and changes are communicated to staff members
• Continue to streamline current processes to improve efficiency and productivity to keep up with technological changes
• Ensure staff provide a prominent level of client service and work performance
• Provide staff with a challenging work environment that is both motivating and rewarding.
• Represent the firm at various industry groups related to trade clearing and derivatives, ensuring all regulatory or system requirements/changes are adequately implemented
• Participate in ongoing projects to meet new regulatory standards
• Work on projects to improve current internal processes and increase efficiency, as well as onboarding new business lines
• Work on ad hoc projects as required

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

• Business degree or equivalent investment industry experience with specific exposure to Stock exchange and Options & Trade Processing
• Extensive knowledge on investment industry regulations as they pertain to equity trade processing and options/futures clearing. Complete understanding of the trade reporting systems of the Canadian Exchanges, US Exchange, Charles River, ION, CDS, NSCC, DTC, CDCC, OCC, OAES, and the ADP Brokerage Accounting System (especially pertaining to trade processing)
• Previous leadership experience is an asset
• Excellent analytical, problem solving, and creative thinking skills required to resolve problem situations with minimum risk exposure to the firm
• An ability to work under pressure to achieve required service levels with available resources
• Strong time management skills to excel in managing a high-volume multi-task environment and to meet tight deadlines
• Detail oriented

Location(s): Canada : Ontario : TorontoScotiabank 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 . 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.

Expected salary

Location

Toronto, ON

Job date

Thu, 10 Oct 2024 22:48:32 GMT

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