Senior Manager Securities Settlements

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 decisions and recommendations in the absence of documented procedures or specific guidelines.
•    Strong knowledge of Project Management methodologies both waterfall and agile.
•    Extensive knowledge of systems employed by Securities Operations globally including Broadridge (ADP), GLOSS, ICi-Impact, ION
•    MMI and ANVIL, Canadian Depository for Securities (CDS), Depository Trust Company (DTCC), Paramax – Arrow as well as
•    Applications of various Central Securities Depositories and Global Custodians (Clearstream, Euroclear, Bank of New York Mellon,
•    BNP Paribas, Deutsche Bank, HSBC, JPM, Itau Unibanco, LCH / Eurex Bonds, etc.)
•    Strong communication skills both written and verbal to deal with Sr. Management of Bank subsidiaries, service providers, and Depositories / Global Custodians – Settlement Agents.
•    Proven experience in directing a complex operating unit combined with exposure to head office environment.
•    Strong general management skills that include leadership, coaching, team building, decision making, prioritization and human relation skills to manage a high degree of change and motivate/direct sophisticated human resources and employ conflict resolution skills.
•    Analytical thinking: due to the nature of operations the incumbent must be able to adapt his/her knowledge and experience to resolve unprecedented problems/situations and be able to identify and assess risk.
•    Organizational and conceptual skills to establish clear process flows and create SMART objectives for assigned units, manage change.
•    Adaptability to constant changes occurring within operations and its internal clients
•    Ability to effectively create and manage change dynamically.

Education / Experience / Other Information 

•    The position requires a minimum of 10 years’ experience in a management role with experience in coaching and performance appraisals as well as relevant industry exposure.
•    Exceptional communication, Interpersonal, time management and organizational skills are required for this role in conjunction with good people management.
•    Highly developed analytical and problem-solving skills are necessary as well as a good knowledge of the Bank’s operational and compliance policies, practices, and procedures. Industry standards and infrastructure rules and regulations in relation to Funding and Settlement are also required within various depositories in various time zones.
•    The incumbent must be conversant with the variety of bank and other systems used in the settlements area and have a strong grasp of systems principles in general.

Location(s):  Colombia : Bogota : Bogota 

Scotia GBS is a Scotiabank Group company located in Bogota, Colombia created to support different processes of the Bank and the development and execution of its global services strategy in 15 countries in the Americas. It is composed of 7 service units. We offer an inclusive, positive work environment, and competitive benefits.

At ScotiaGBS, 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 must apply directly online to be considered for this role. We thank all applicants for their interest in a career at ScotiaGBS; however, only those candidates who are selected for an interview will be contacted.