Assistant Manager, GWO US - Settlements & Clearing Details

Assistant Manager, GWO US - Settlements & Clearing

Scotiabank - New York, NY

Employment Type : Full-Time

Requisition ID: 131887

Cost Centre: SCOTIA CAPITAL (USA) INC.

Employee Referral Program – Potential Reward: $2,000.00

We are committed to investing in our employees and helping you continue your career at Scotiabank.

Purpose

Contributes to the overall success of the GWO US Settlements & Clearing department in the U.S. by 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.

This role is to primarily support Stock Loan Settlements and DTC Triparty/Repo Settlement. Responsibilities include managing Mark-to-market (MTM) positions, fixing daily Contract Compare breaks, monitoring Exception Settlement queues, confirming collateral movements on bilateral and Tri-Party deals, and substantial interaction with internal and external clients. The incumbent will be involved in new business initiatives and be able to support the aforementioned initiatives. Other responsibilities include collateral trade input, daily activity balancing, and calculating entity cash funding.

• Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

• 
  Balances daily transactions between Loanet and DTCC

• 
  Interacts with counterparties to resolve any settlement/collateral issues and Contract Compare breaks

• 
  Tracks monthly fails and produces TMPG letters; validates repo broker bills

• 
  Manages exposure using Global1, Loanet, BNY Access Edge and Equilend

• 
  Maintain and monitor Noncash and E4E balances below DSL Limits

• 
  Support repo Tri-Party deals flowing through DTCC and BNY Access Edge platforms

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  Control or assist with the control of non-cash collateralization to mitigate risk to the Firm and ensure regulatory compliance (improper handling could subject the Firm to regulatory capital charges and reporting issues with FINRA)

• 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 vison/values/business strategy and managing succession and development planning for the team.

Reporting Relationships (Job Titles only)

(include secondary Manager if applicable)

• 
  Senior Manager

• n/a

• 
  functions cover two legal entities:

Bank of Nova Scotia, Houston Branch

Scotia Capital (USA) Inc.

• 
  2+ years of experience in Securities Operations
• Strong competency using Equilend, Global1, DTCC, Loanet, and ADP
• Solid understanding of Securities Lending and Financing
• Reflect superior customer service skills
• Manage multiple depositories to ensure proper collateralization and settlements
• Be able to work in a fast paced and group oriented environment

• Work in a standard office-based environment; non-standard hours are a common occurrence.

Location(s): United States : New York : New York City

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. 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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