Requisition ID: 111320
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. Purpose
The Senior Analyst is responsible for the day-to-day operations processing and assigned book level analysis within the Product Control group for the Global Fixed Income Credit business. The businesses supported include Credit Trading, Credit Derivatives, Emerging Markets Trading and Collateral Management and Funding. The products include bonds, loans, mortgage loans and MBS/ABS, IR and bond futures, credit default swaps, total return swaps, repos, and other credit and IR derivatives.
Product Control is the Profit & Loss control group for Scotiabank Global Banking & Markets. Product Control is responsible for P&L reporting and risk attribution and analysis, valuation & independent price verification (IPV), reconciliation of reported P&L to Front Office estimates and to the general ledger, the substantiation of balance sheet accounts, identification and resolution of accounting & P&L discrepancies, and the maintenance of business performance and control MIS.
As the Product Control function is a developing area within Scotiabank, the Senior Analyst should provide a proactive and dynamic approach. The Senior Analyst must be able to understand, analyse and comment on the drivers of P&L and to communicate effectively with management.
The position is based in Toronto. Key Accountabilities
1. Production of daily P&L for assigned books. Validation of P&L through risk based attribution. Reconciliation of daily P&L to expectations, with corresponding P&L commentary to ensure sign-off by the Front Office. Resolution of P&L breaks through collaborative dialogue.
2. 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 work flows.
3. Ensuring balance sheet accounts are substantiated and that accounting issues are resolved on a timely basis. Complete the month-end close and MIS packages.
4. Production, review and analysis of IPV where required.
5. Contribute to the protection of the Bank from exposure to loss by ensuring compliance with Bank policies and ensuring the prompt investigation of all inquiries brought to the group's attention. Experience / Education
- The Senior Analyst must have the skills required to deliver accurate P&L and attribution analysis for the assigned books. These include:
- Organization skills, including the ability to juggle multiple projects in a dynamic environment
- Advanced knowledge of Excel
- Basic knowledge of Access; SQL and VBA coding experience would be a significant plus
- Accounting skills - understanding of trial balance, debits, credits and GL Accounts
- Strong background in Fixed Income Accounting and Balance Sheet attestation
- Capital markets products, including derivatives
- Knowledge of Scotiabank systems IMPACT, K2 and MMI will be helpful
- A degree in Accounting, Finance, Economics, or a quantitative discipline including Mathematics, Science, Computer Science, and Engineering or Financial Engineering.
- A professional accounting designation is desirable. An FRM/PRM or CFA would be an asset.
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. Job Segment:
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