Director, Prime Brokerage Margin

Scotiabank•New York, NY

1d•$185,400 - $310,600•Onsite

About The Position

Seeking an experienced and technically accomplished Director to join our Margin & Collateral Management Operations team supporting the Prime Brokerage and Securities Financing businesses. Reporting into the Global Head of Margin & Collateral Management Operations, this individual will serve as the primary subject matter expert on margin regulation, margin methodology, and collateral management frameworks across our US Prime Services platform. The role requires a strong operational risk and control mindset, combined with the ability to serve as a senior subject matter expert on margin regulation — advising business and operations leadership, supporting hedge fund and institutional client financing activity, and ensuring the firm’s margin practices remain aligned with evolving global regulatory requirements. The incumbent will partner closely with Prime Brokerage Relationship and Prime Risk Managers, Compliance, Operations, and Technology, while engaging directly with internal governance forums, external regulators, and senior stakeholders across the Global Markets division.

Requirements

10–15+ years of experience in Collateral Operations, Margin Operations, Prime Brokerage Operations, or Repo/Securities Financing Operations within a global financial institution or Broker-Dealer/Bank.
Deep technical knowledge of U.S. broker-dealer and bank margin regulations including Regulation T, Regulation U, FINRA Rule 4210, SEC 15c3-3, and SEC 15c3-1, with full capability to calculate, interpret, and apply applicable margin requirements.
Strong working knowledge of collateral management processes across Securities Lending, Repo, Equity Swaps and Prime Brokerage products, including margining, exposure management, and settlement.
Demonstrated expertise in SBL collateral management including Triparty obligations, RQV agreements, recalls, and corporate action-related collateral events.
Experience supporting Prime Brokerage hedge fund and institutional client activity across equities, derivatives, and securities financing products.
Familiarity with MSLA, GMSLA, GMRA and Prime Brokerage documentation frameworks.
Proven experience managing teams in a high-volume, risk-sensitive environment within a global banking or capital markets context.
Demonstrated experience engaging with regulators, internal audit, and compliance functions, including support for regulatory examinations and audit reviews.
FINRA Series 99 (Operations Professional) registration required
Strong technical credibility and recognized subject matter expertise in margin and collateral frameworks.
Ability to communicate complex regulatory and quantitative concepts clearly to senior management and non-specialist stakeholders.
Demonstrated track record of leading change initiatives in complex, highly regulated environments.
Strong risk and control mindset with attention to detail and a proactive approach to operational risk management.
Proven ability to build trusted relationships and collaborate effectively across Front Office, Risk, Treasury, Legal, Compliance, and Technology.
Comfortable operating in fast-paced, high-pressure market environments with the ability to manage multiple priorities concurrently.

Nice To Haves

Familiarity with cross-product margining across equities, fixed income, derivatives and securities financing within a unified operational framework would be advantageous.
Working knowledge with the following applications would be preferable: Global One, Loan One, Equilend, Colline, Acadia Soft, Anvil, Broadridge BPS

Responsibilities

Monitor, calculate, and issue daily margin calls across the Prime Brokerage business, ensuring all margin requirements are met in a timely and accurate manner each business day.
Ensure client margin accounts comply at all times with applicable regulatory requirements as well as internal risk and credit guidelines.
Perform in-depth vetting of all margin calls prior to issuance, including review of portfolio-level exposures, eligibility of collateral, and alignment with applicable margin methodology.
Manage and expand internal relationships with Prime Brokerage Relationship Managers, Compliance, and Operations teams, liaising with the PB Risk team to ensure hedge fund clients receive comprehensive operational support, custody, financing, and risk management services.
Identify and escalate margin deficiencies, account breaches, and atypical trading practices – including cash purchases and day trading patterns – to senior management promptly.
Support the broader Prime Brokerage business with client onboarding, margin documentation review, and ongoing management of client-specific margin terms and financing arrangements.
Act as the operational subject matter expert on broker-dealer and bank margin regulations applicable to Prime Brokerage, Repo and Securities financing activity. Core regulatory knowledge to include: Regulation T, Regulation U, FINRA Rule 4210, SEC Rule 15c3-3, and SEC Rule 15c3-1.
Ensuring all margin processes, controls, and documentation remain aligned with applicable FINRA rules and regulations, internal risk policies, and the Bank's Operational Risk Management and Regulatory Compliance Risk Management frameworks.
Supporting regulatory examinations, internal and external audits, and supervisory inquiries, including provision of required documentation and process walkthroughs to auditors and regulators as required.
Partnering with Legal and Compliance to interpret regulatory developments and implement required changes to margin procedures, controls, and governance documentation.
Support margin processes related to hedge fund financing, securities lending, and complex client portfolio structures.
Provide margin analysis across Prime Brokerage client portfolios including equity long/short strategies, options, total return swaps, equity swaps, and repo transactions.
Partner with the Prime Brokerage business to support client margin inquiries, collateral optimization discussions, and client onboarding.
Assist in the development and review of client-specific margin terms and financing arrangements for institutional and hedge fund clients.
Provide margin expertise supporting cross-functional initiatives involving collateral usage and regulatory capital, including Basel III, Liquidity Coverage Ratio (LCR), and Net Stable Funding Ratio (NSFR).
Assess the operational impact of margin and collateral flows on balance sheet and liquidity metrics.
Collaborate with Treasury, Capital Management, and Market Risk on funding optimization and balance sheet efficiency initiatives.
Partner with Technology to enhance margin processing infrastructure, collateral management platforms, and real-time risk monitoring tools.
Support the design and implementation of margin calculation engines and portfolio exposure analytics.
Lead operational readiness for system implementations, regulatory-driven technology changes, and margin engine enhancements.
Drive automation and data analytics initiatives to improve margin transparency, reduce manual processes, and enhance operational resilience.
Prepare and present margin exposure, risk metrics, and regulatory developments to senior management and internal governance committees.
Act as a key point of contact for internal audit, model validation, and regulators on margin-related matters.
Participate in industry working groups and forums relating to margin regulation and emerging market practices.
Provide technical leadership and guidance to margin operations teams and broader operational stakeholders across the Prime Services platform.