Senior Financial Analyst, Product Control, Commodities and Currencies

Scotiabank•Toronto, ON

5d•Onsite

About The Position

The Senior Financial Analyst will contribute to the overall success of the Product Control / Commodities and Currencies team in Canada and globally, ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. In this role, the analyst will champion a customer-focused culture, ensure accounts and financial records are maintained according to IFRS and policies, produce quality financial management information, prepare actual and risk-based attributions to explain and control daily P&L reporting, and investigate/reconcile results with front office estimates. The role also involves continuously reviewing desk procedures for effectiveness and efficiency, suggesting improvements for data collection and reporting, and understanding the Bank's risk appetite and culture. The analyst will actively pursue efficient operations and ensure the adequacy of business controls for operational risk, regulatory compliance, AML/ATF, and conduct risk. Additionally, they will champion a high-performance environment and implement a people strategy to attract, retain, develop, and motivate the team.

Requirements

University undergraduate degree in finance or accounting
Solid understanding of accounting, the concepts of mark-to-market accounting and risk based P&L attribution
Strong understanding of bank reporting requirements and the regulatory reporting issues of varied regulators is recommended
Thorough knowledge of derivative, lending and inventory products and the risks involved

Responsibilities

Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Ensures that the accounts and financial records of commodities businesses are being maintained according to International Financial Reporting Standards, policies and procedures set by Scotiabank Executive Offices and the local regulators.
Produce quality financial management information to the business line, including accurate daily/weekly/monthly/yearly portfolio and consolidated level P&L and monthly balance sheet reporting.
Prepare actual and risk based attributions by portfolio to explain and control the daily P&L reporting, investigating and reconciling results with front office estimates.
Continuously review assigned desk procedures to ensure that they are effective, efficient and controlled.
Suggest and develop on-going methods of improving accurate data collection globally, streamlining reporting, sharing best practices and cross-training team members.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
Champions a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.