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City : Toronto

Category : Banking

Industry : Banking

Employer : Scotiabank




Requisition ID: 51614

Department: Operational Risk Oversight (OU20014368) 


Employee Referral Program – Potential Reward:  


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Position Summary


Contributes to the overall success of the Trade Floor Supervision – Operational Risk Oversight in Toronto 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.




  • Champions a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge
  • 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 implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vision/values/business strategy and managing succession and development planning for the team.
  • Responsible for training and development of new and existing team members on technology and procedures


        Purpose of the Job


  • Provide support to the Associate Director (“AD”) of Surveillance Supervision in Trade Floor Supervision (TFS) who has a delegated mandate from the Director of TFS.  Propose supervisory procedures or suitable changes in concert with Director of TFS.
  • Review & escalate exceptions/discrepancies to the AD and or the Director of TFS and/or coordinate matters requiring further investigation with Trade Surveillance Compliance or the Compliance Control Room as directed.
  • Provide support and coverages to Front Office Supervision related to daily supervisory activities and reviews.
  • Maintain close working relationships with internal and external stakeholders and regulatory bodies.
  • Evaluate and review ongoing effectiveness of implemented policies and identify/remediate any gaps.
  • Participate as requested by the Director of TFS to lead special projects.
  • Proactively identify operational risk/control deficiencies in the business and raise any concerns to the AD or Director of TFS.
  • Escalate operational risk events, control deficiencies and risks that you identify to the Director TFS.
  • Requires excellent interpersonal skills.


      Major Accountabilities


  • Review of various activity reports on a daily basis to ascertain whether trading activities are within reasonable parameters and there are no activities and transactions which could be perceived as being manipulative or deceptive. 
  • Use of all available tools such as compliance explorer and the various systems used by Traders to
  • Reconcile daily CDOR submissions and store in database, escalate large daily discrepancies, listen to CDOR setters calls.
  • Run daily fair pricing test through Fixed Income (FI) trading system for spreadsheet creation and exception report.
  • Review weekly fair pricing reports created through business objects and reconcile exceptions.
  • Run 15a6 weekly review to examine trading for US clients.  Ensure clients are trading in products they are eligible to trade based on FINRA registration status.
  • Reconcile all provincial and corporate fixed income deals where Scotiabank was part of the syndicate, examine data for correct blotter code assignment, inventory fills, and all relevant documents in electronic deal files.  Review communications (voice / e-comm) to ensure compliance with internal policies.
  • Monitor trading in benchmarks for any new issues after the offering has been completed.  Review trading that resulted for the benchmark and for any related issues during the period established as the “offering period”.
  • Verify the allocation breakdown recreated by the Montreal trading desk, reconcile and sign off on Province of Quebec Certifications for Quebec fixed income new issues. 
  • Review DCM syndication inventories to ensure adherence to Volcker rule, monitor positions in Syndication inventories on a daily basis to ensure that no positions remain in the account 60 days after a fixed income deal closes in which Scotia participated.  Cross check against a master list obtained from the Corporates and Government desks to establish the count date
  • Maintain all NCIB notices in group drive record a master list of active NCIBs and log trading in securities in spreadsheet, ensure all NCIB rules are being adhered to by trader in regards to daily/annual limits and upticks.  Reconcile monthly NCIB trades on a monthly basis and ensure our figures match the traders reports.
  • Review trades that were executed as jitney trade for participating organization (POs) that hold 900
  • Review ECM syndication inventories to ensure adherence to Volcker rule.
  • Reconcile GED inventory account for conflicts of interest between common equity and option trades conducted by Global Equity Derivatives (GED) inventories and GED's client trades.  Review order markers for equity & options to ensure accuracy.



       Complexity of the Position


  • Thorough knowledge of compliance supervision policies relative to the trading businesses
  • Knowledge of trading methodologies and strategies.
  • Ability to exercise good judgment in determination and escalation of issues involving material risk.
  • Ability to work in a fast paced and stressful environment and remain focused.
  • Ability to multitask, excellent problem resolution and time management skills.
  • Excellent verbal and written communication skills.
  • Strong mathematical inclinations and the ability to work well with Excel Spreadsheets.   


       Education / Experience / Other Information


  • CSC, CPH, Traders training course, Options licensing course and Derivative licensing course.
  • Bachelor's degree in finance or relevant education background
  • Completion of the CFA or MBA would be desirable.
  • Knowledge of global capital markets and strong knowledge of fixed income and derivative products is necessary.
  • Knowledge of marketplace rules for equity, fixed income and derivatives and strong knowledge of UMIR rulebook and applicable National Instruments relevant to GBM business lines.
  • Strong knowledge in the following systems, Fidessa, Bloomberg, Clearing & Administration, ATR trades navigator, Excel, Access, ION, Business Objects, Smarts broker and ADP.



Location(s):  Canada : Ontario : Toronto 

As Canada's international bank, we are a leader when it comes to inclusion. Scotiabankers hail from over 120 countries, speak more than 100 languages and serve over 23 million customers globally. As a highly diverse company, we know that an inclusive environment for employees and customers helps everyone achieve their best. 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. Candidates selected for an interview will be contacted directly.  If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide a positive recruitment experience.

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