Finance Manager - Product Control

Scotiabank•Toronto, ON

6d•Onsite

About The Position

Manager, Product Control is a member of the Product Control team, responsible for providing P&L and Accounting support for several books and/or strategies for the Global Equity business. The Product Control Department is the Profit & Loss control group providing support to Scotiabank Global Banking & Markets. Product Control is responsible for P&L reporting, P&L 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, issue identification and resolution, and the maintenance of business performance and control MIS.

Requirements

Strong knowledge of valuation/risk analytics of various types of financial instruments and understanding accounting treatments under different options.
Business degree focused in Accounting or Finance is preferred.
Experience with Valuation, risk analytics and Accounting of Equity and Derivative products.
A minimum of 1-3 years in relevant hands-on experience Financial analytics, Risk Management or Accounting functions, ideally in Fund Accounting firm or financial institutions.
Strong problem-solving skills and proficiency with Excel.
Strong communication skills and the ability to learn fast.
Solid understanding of Bank accounting policies, trading policies, market practice, regulatory requirements and the inherent risks associated with all of capital market products.

Nice To Haves

Progress in CFA or CPA will also be an asset.
Python, VBA, SQL ability would be an asset.

Responsibilities

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.
Ensure 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; ensure 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.
Have strong understanding of accounting and valuation of equity & derivative products 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.
Support other financial reporting needs as may be required.
Support other Manager and Senior Manager 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.