Senior Manager Securities Settlements
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Requisition ID: 253806
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Purpose
- Ensure that Global Banking and Markets’ short, mid, and long-term business strategies and priorities assigned to GWO are understood and that Securities Clearing has systems, processes, controls, and infrastructure in place to support it. Working closely with the Director, Settlement & Clearing the incumbent will provide Securities Clearing leadership ensuring business objectives is achieved.
- Directing assigned operations ensuring a high level of operational/cost efficiency, management control and customer service.
- Ensuring significant risk, inherent in assigned operating units is identified, analyzed, understood, and controlled. Maintain key controls at acceptable levels.
- Driving a performance culture in GBM through effective people management practices
- Measurement of performance through effective metrics and viewpoint results. Management of workflows through capacity management and load balancing
- Identify, analyze, and address underperformance at all levels by executing remediation plans
Accountabilities
1. Working closely with GWO senior management:
- Develop a detailed understanding of GBM’s business plans/priorities and assess Securities Clearing existing processes, systems, controls, and resources in relation to what will be required to effectively support the GBM business priorities and revenue objectives.
- Where material gaps in capabilities versus requirements exist, the incumbent will either directly or indirectly drive Securities Clearing’s efforts to resolve same.
- Provide specialized insight and / or guidance to GBM regarding how operational processing requirements can best be met.
2. Manage and develop subordinate staff to ensure efficient operations, attainment of objectives, and a high calibre of employee.
3. Ensure a high degree of operational efficiency, processing accuracy, and conformity to Bank regulations by:
- Developing, negotiating, and executing business objectives to improve operational efficiency or customer.
- Identifying and implementing opportunities for improvements in productivity, control, cost effectiveness, and user/customer relations.
- Developing/maintaining an effective, economical organization structure.
- Adhering to an effective Management Control Program and escalation matrix.
- Managing resolution of operational problems ensuring appropriate action is taken to prevent recurrence.
- Staying abreast of industry and/or internal initiatives and changes to forecast the impact upon assigned units.
- Development and execution of strategies, communications, and implementation of change.
- Providing or participating in training sessions and seminars.
- Consulting on the preparation of associated manuals, guides, and procedures.
- Consulting on daily issues/changes in retail and trading products as they impact Securities Clearing.
- Interacting with senior executives in GWO to provide operational input and direction on common issues and initiatives.
- Understand products and product offerings at Scotiabank
- Understand securities markets, security types and industry standards for custody
Reporting Relationships
Primary Manager:Director – Security Settlements,Vice President, Security Settlements
Dimensions
Daily Transaction Volumes: 25000+
Business Lines Supported: All units under the Scotia umbrella
General daily cash funding and management: $2.0 Bn to 5.0Bn in various currencies.
Reputational Risk potential: High Compliance and Regulatory Risk: High
- Ability to manage in a rapidly changing environment regarding policies, procedures, automated systems and client needs.
- Expert knowledge of domestic and foreign Securities Industry conventions and regulatory requirements
- Expert knowledge of Securities Operations’ processes, systems, and controls in multiple geographic locations
- Good knowledge of policies and procedures in other areas of the Bank
- Extensive knowledge of regulations associated with the securities Industry and products globally.
- Ability to effectively delegate.
- Quick response to respond to situations requiring Senior Management involvement/decisions.
- Adaptability to constant changes, tight deadline, limited guidance, and ambiguous scenarios occurring within Securities Clearing and an ability to effectively create and manage change.
- Sound judgement and strong analytical skills to assess business requirements and to make decisi