Officer, Confirmations, Global Wholesale Operations - Singapore - THE BANK OF NOVA SCOTIA

Description

Purpose

Contributes to the overall success of the Confirmations team in Singapore ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team's business strategies and objectives.

Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.


Accountabilities

• Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Understand how the Bank's risk appetite and risk culture should be considered in daytoday activities and decisions.
• Actively pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank's Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of daytoday business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
• Champions a highperformance environment and contributes to an inclusive work environment.
• Ensure Risk inherent in the trade confirmation process is identified understood, monitored, and controlled

This includes:
Ensure Risk inherent in the trade confirmation process is identified understood, monitored, and controlled


This includes:

• Ensure all trades are recognized by trade counterparties, economic terms of all transactions are matched on, and all breaks are identified, reported, and resolved.
• Generate and execute trade confirmations in accordance with the Bank policy.
• Ensure all trades are reconciled with external electronic trade execution and affirmation / confirmation platforms.
• Timely escalation and resolution of any issues.
• Investigate issues such that root causes are identified and appropriate actions are taken to prevent reoccurrence.
• Ensure a high degree of processing accuracy, customer service and operational efficiency.
• Maximise STP rates and the use of automation to ensure controlled efficient operations.
• Identify and implement opportunities for improvement in controls, customer service, productivity, and cost effectiveness.
• Understand customer needs and maintain customer service standards.
• Develop and maintain relationships with customers at both the operations staff and management levels, allowing for effective escalations and issue resolution.
• Ensure customer issues are identified, reported, escalated and resolution are coordinated with internal stakeholders and the relationship owners.
• Monitor queues in Wallstreet to ensure trades are affirmed on time for Settlement. (Attention to settlement ccy cut off time is important).
• Attach FSIs when trade is affirmed
• Escalate to supervisor if trade is nearing settlement but not affirmed
• Match incoming MT300 to ours
• Notify Settlements team of any FSI discrepancy between our MT300 and counterparties.
• Follow up on outstanding paper confirmation for Asia Clients
• Match trades when confirmation is executed.
• Process IO Swaps
• Retrieve report from CLS for IO Swaps
• Prepare and send to front office to book the trades
• Verify, match trades, and notify Settlements team when completed.
• Notify Front Office on trade discrepancies.
• Send counterparty details to static data team for system update when required.
• Prepare EOD Asia reports and upload to Jira
• Errors Queue, CLS Unmatched, Swift Unmatched Queue, Unaffirmed Asia and Alleged or unrecognized Trades.
• Match FX trades booked in WSS for the Rates team with trades booked in Xceptor.
• Affirmed loans / deposits booked by Rates team facing BNS Singapore, BNS Hong Kong and BNS Asia and update in Xceptor.
• Perform system testing if required.
• Ensure BAU are all cleared before EOD.
• Perform affirmation for FX Option.

Essential Experience:

• Business/Finance, University Degree, or a related educational background
• Capability to work independently in a highpressure environment.
• Can demonstrate initiative and aptitude for change
• Good organizational skills and ability to multitask

Preferred Experience:

• Knowledge of Treasury related products, principally Foreign Exchange and Money Market
• Experience in client facing role
• Understanding of market cut offs and need to meet stringent deadlines

Working Conditions:

• Work in a standard officebased environment; nonstandard hours are a common occurrence.
• No travelling required
• Holiday coverage on rotation basis.
• Staggered Working hours depending on Toronto Summer and Winter timing ranges from 9.30am
• 7pm or 10.30am 8pm.