Control Remediation Lead, Asset Servicing (Contract)

Requisition ID: 168322

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

Why work for Scotiabank?

Scotiabank is among the largest banks in the world and the most international bank in Canada. We are powered by our 97,000 high-performing teammates who make a real difference across the globe as a leading provider of advice, products, digital experiences, and financial services. Together with our Digital Factories around the world, we are dedicated to helping our 25 million customers become better-off.

This is a place where you’ll get to learn and develop your skills, while being recognized for your hard work. At Scotiabank, we’re passionate about bringing our whole selves to work, allowing us to create inclusive work environments for everyone to enjoy. Say hello to a career at Scotiabank!

Global Banking and Markets

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange, and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.

Purpose

Leads and oversees Corporate Actions team in Canada on globally held assets ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures.

Accountabilities

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge. Oversight of processing and controls related to all Voluntary Corporate Action Events related to GBM, Wealth and associated business lines.
• Investigating and solving problems of an exceptional nature by resolving operating problems/errors related to Corporate Actions Department and taking appropriate action to prevent recurrence. Ensure timely and appropriate escalation of issues to senior management according to established procedures and policies. Coordinate, recommend and implement new services/products including cost/benefit analysis, procedural documentation, acceptance testing and approval prior to implementation.
• Ensure risk inherent in corporate actions and other entitlements processing is understood, identified, and controlled through the maintenance of effective procedures & management controls including monitoring of control accounts to ensure outages have thorough explanations and steps to clear and regular review and challenge of existing procedures and control to ensure effectiveness
• Ensure operational efficiency of the Corporate Actions team is maintained in accordance with Bank policy and procedures by: i) organizing, prioritizing, and supervising workflows, and deploying staff accordingly; ii) monitoring corporate actions/entitlements in progress, assessing risk/difficulties and providing advice/follow up as required; iii) planning, organizing and preparing for large or unusual offers or project type activities that require other than established procedures and implementing permanent or temporary changes to involved processes and systems to increase efficiency and minimize the inherent risk, i.e. market risk, interest risk, foreign exchange risk; iv) ensuring accurate, concise, and timely information are provided so that clients have clear understanding of offer terms, restrictions and tax consequences; v) maintain solid working relationships with DTCC/CDS/BNP/Citi/Clearstream (including their tax department) to properly report on and resolve withholding tax issues and other out-of-balance positions on cross-border events and vi) manage department resources to meet audit, security, control and risk requirements while delivering quality services that conform to corporate standards from the business owner
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates an environment in which his/her team 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.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors; communicating vison/values/business strategy

Requirements

• 
  FINRA Series 99 – Operations Professional
• Over 10 years Asset Servicing industry experience/knowledge
• Expert knowledge on Corporate Action processing (Mandatory & Voluntary), stock borrow loan transactions and liabilities, Income processing and various market entitlements compensations (Trade date vs settlement date market)
• Strong knowledge of related processing systems related to corporate actions/entitlements/proxy processing which includes various Broadridge products including ADP, Dividend Re-Write & Gloss, DTC, CDS, Clearstream, BNP, Citi, Core 1 products (Global 1, Loan 1 & Prime 1), BESS, Escape, AS400, OnDemand, Whitebox, ICS Online, ProxyEdge,

Working Conditions

• 
  Work in a standard office-based environment; non-standard hours are a common occurrence. Limited travel internationally/globally.
• Work volumes are subject to market volatility and can therefore swing to the extreme. Critical deadlines must be met to avoid the potential for substantial losses. Processing accuracy is of paramount importance as any errors can result in substantial losses. Pressure situations are frequent and market dependent.
• Significant pressure is frequently encountered due to potential for significant loss or client disruption and tight processing deadlines set by the industry.
• Priorities are subject to constant change and multiple high priority issues are common.

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. 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.