Scotiabank Business Solutions Expert - Derivative Hedge Accounting in Toronto, Ontario

Business Solutions Expert - Derivative Hedge Accounting

Requisition ID: 4533

Join the Global Community of Scotiabankers to help customers become better off.

Purpose of Job:

RMIT - Group Treasury Investments and Derivative Hedge Accounting department supports/maintains and implements Information Technology projects for Group Treasury and Finance including Derivative Hedge Qualification, Balance Sheet Management, Equity Investments and Funding Desks.

The incumbent is responsible for research and analysis leading to the definition of requirements and processes to assist in the resolution of complex business problems for Group Treasury and Finance. The incumbent is also responsible for participating in the testing of new systems or enhancements, the training of users, and providing ongoing support to Derivative Hedge Qualification, Balance Sheet Management, Product Control, Finance and International Units.

Key Job Accountabilities:

  • Ability to resolve complex, multi-faceted problems to meet the business needs of Global Banking & Markets, by applying their financial and technological knowledge to the design of systems solutions, methodologies, and/or processes. This may involve rapid prototyping, with requirements and solutions developed on an iterative basis that provides interim deliverables until a final production solution is created. This includes conducting research and analysis, accurately and clearly defining user requirements and processes, and liaising with the users.

  • Work on multiple projects and/or lead specific sections of large projects to implement solutions to business problems. This involves planning, soliciting and defining business requirements and processes, developing testing/conversion/implementation strategies, developing detailed project plans, managing relationship and deliverables, monitoring progress against planned objectives, and securing consensus and co-operation from users and senior management.

  • Participate in the systems implementation process by developing test plans and cases, performing testing, defining user procedures and workflows, developing conversion and implementation strategies, verifying conversion, providing user documentation, user training, and post-implementation support.

  • Provide business support to various users across Canada and International sites including new and existing product and deal structuring, ad hoc queries and MIS, user training, and assisting with the design and implementation of systems enhancements. This is made more challenging due to differences in time zones and the variation in the business lines, which may require additional time to service business needs beyond regular business hours, including weekends. The incumbent must be very comfortable and capable of dealing with the demanding needs of the Front, Middle and Back Office users. The incumbent is responsible for ensuring that management is kept informed and that problems and issues are escalated appropriately.

  • Strong knowledge of requirements / design methodology - detail oriented, analytical and capable of investigating complex / technical issues and provide alternative solutions, project methodologies including SDLC.

  • Excellent team player by working with cross-departmental business & IT stakeholders, ability to manage conflicts

  • Highly motivated and committed, capable of working in a dynamic environment with aggressive timelines, multiple work streams running in parallel

  • Guide team in adopting the Bank's generally accepted tools and methodologies for the management of business requirements and test cases.

  • Guide team in the application of industry best practices in quality assurance testing, functional testing, and regression testing of new and existing system features.

Skills, Experiences and Functional Competencies:

  • Understanding of IFRS derivatives and financial accounting principles and Knowledge of IAS 39 and IFRS 9 will be a definite asset.

  • Excellent documentation skill is required.

  • Understanding of IT systems and SDLC is required

  • Minimum of 7-10 years of industry experience

Education and Other Requirements:

  • A recognized under-graduate degree in business, economics, mathematics or a related discipline, together with 7-10 years of practical experience is required.

  • Completion or pursuing a Chartered Professional Accountant Designation (CPA) or Chartered Financial Analyst Designation (CFA) will be a definite asset.

Location(s): Canada : Ontario : Toronto

As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. 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. Candidates selected for an interview will be contacted directly. If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.