Manager, Group Treasury Product Control

Requisition ID: 248240

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

The Manager, Group Treasury is a member of the Product Control team, responsible for providing P&L and Accounting support for a number of books and/or strategies for Group Treasury. The Manager can be charged with the supervision of other P&L Analysts and/or be assigned books/strategies that are more complex and require a higher level of analytical skill and experience. The Manager should provide a proactive and dynamic approach. 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 to support their growth and expansion.

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

• Production or coordination of staff to ensure established process flows are completed to produce and report daily P&L. Confirmation of P&L integrity/ validation through risk-based attribution. Reconciliation of daily P&L to FO expectations with corresponding P&L explanatory to ensure P&L Sign-off by the Front Office. Coordination and resolution of P&L breaks between FO and Product Control through collaborative dialogue.
• Ensuring daily reported P&L is reconciled to the Bank’s General Ledger and associated source system sub ledgers. Adoption of a proactive approach to ensure breaks are escalated and resolved on a timely basis as required by established workflows. Ensuring 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.
• Strong understanding of risk analytics to develop and implement infrastructure processes aimed at effectively capturing and reflecting risk profile of business.
• Production, Review and Analysis of IPV, Reserves and Fair Value Adjustments as may be required in agreement with Risk Management and as required by Bank Guidelines. The coordination and timely resolution of issues with the Front and Back Offices, and Risk Management.
• Supporting other financial and regulatory reporting needs as may be required.
• The incumbent will support the Senior Manager and 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 in this role? We’d love to work with you if you have:

• An understanding of 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 trading or banking book.
• Expert knowledge of P&L and Balance Sheet control backed by a Business Degree focused on Finance and Accounting and/ or Risk Analytics. A professional accounting designation is preferred. A CFA or FRM will also be an asset.
• A solid understanding of Bank accounting policies, trading policies, market practice, regulatory requirements and the inherent risks associated with trading or banking book products.
• Strong problem-solving skills and proficiency with Excel.
• Strong communication skills and the ability to interact with a demanding Front-Office client base.
• The incumbent must have leadership ability, be self-motivated and be able to operate in a back-up capacity to the Senior Manager.

What’s in it for you?

• A rewarding career path with diverse opportunities for professional development
• An organization committed to making a difference in our communities – for you and our customers.
• A competitive rewards program includes annual bonus, flexible vacation, personal and sick days, and comprehensive benefits that start on your first day.
• Diversity, Equity, Inclusion & Allyship - We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and are embraced through bias-free practices and inclusive values across Scotiabank. We embrace diversity and provide opportunities for all employees to learn, grow & participate through our various Employee Resource Groups (ERGs) that span across diverse gender identities, ethnicity, race, age, ability & veterans.
• Accessibility and Workplace Accommodations - We value the unique skills and experiences every individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone. Scotiabank continues to locate, remove and prevent barriers so that we can build a diverse and inclusive environment while meeting accessibility requirements.

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.