Senior Manager, Group Treasury Product Control

Requisition ID: 215576

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

The Product Control Department is the Profit & Loss control group providing support to Scotiabank Global Banking & Markets and Group Treasury. This encompasses daily P&L reporting, risk attribution and analysis, valuation reserves & independent price verification (IPV), reconciliation of reported P&L to Front Office estimates and to the general ledger, the substantiation of balance sheet accounts, issue identification and resolution, and the maintenance of business performance and control MIS. Product Control operates within an evolving business environment and adapts to facilitate an evolving business and support their growth and expansion.

The Senior Manager - Group Treasury is a member of the Product Control team, responsible for overseeing and providing the P&L and Accounting support to a number of books and/or strategies for Group Treasury. The Senior Manager will be charged with the supervision of other P&L Analysts and Managers and/or be assigned books/strategies that are more complex and require a higher level of analytical skill and experience. The role also entails managing reconciliation processes including independent pricing valuation and valuation of portfolios, accuracy review of booked transactions, investigation of discrepancies and resolution of a diverse number of issues to ensure accuracy of daily reporting and accounting.

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

• Produce or coordinate staff to ensure established process flows are completed to produce and report daily P&L.
• Confirm P&L integrity / validation through risk-based attribution.
• Reconcile the daily P&L to FO expectations with corresponding P&L explanatory to ensure P&L Sign-off by the Front Office.
• Coordinate and provide 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 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.
• Have a strong understanding of data extraction, manipulation, and standardization techniques to drive operational efficiencies for the team.
• Work with existing infrastructure utilizing Excel, VBA, SQL and Python to run, debug, and enhance when required.
• Produce, Review and Analyze IPV, Reserves and Fair Value Adjustments as may be required in agreement with Risk Management and as required by Bank Guidelines.
• Coordinate and provide timely resolution of issues with the Front and Back Offices, and Risk Management.
• Coordinate resolution of reporting issues across multiple regions 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 other financial and regulatory reporting needs as may be required.
• Support the Director 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 experience with:

• Degree in Mathematics, Statistics, Computer Science, Financial Mathematics, Financial Engineering in combination with business / accounting is preferred.
• A professional accounting designation is preferred. A CFA or FRM will also be an asset.
• An understanding of the Treasury function - hedging, funding. Understanding of various accounting treatments (amortized cost, FVTOCI, FVTPL) and hedge accounting.
• Experience with P&L construction and risk attribution, capital markets accounting, balance sheet substantiation and IPV process.
• A minimum of 4 - 6 years in relevant hands-on experience in Product Control (alternatively, Middle Office, Product Control, Finance or Operations) supporting a Capital Markets environment.
• Expert knowledge of P&L and Balance Sheet control backed by a Business Degree focused on Finance and Accounting and/ or Risk Analytics.
• A solid understanding of Bank accounting policies, trading policies, market practice, regulatory requirements and the inherent risks associated with all capital market products.
• Strong problem-solving skills and proficiency with Excel, VBA, SQL, Python
• Strong communication skills and the ability to interact with a demanding Front-Office client base.
• Must have leadership ability, be self-motivated and be able to operate in a back-up capacity to the Director.

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
• You'll be part of a diverse, collaborative, innovative, and high-performing team
• We offer a competitive rewards package:
• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching
• Health Benefits from day one!
• You will relish work-life balance, team events, and opportunities to participate in the community.
• Your career matters! You will have access to career development and progression opportunities.

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.