Requisition ID: 99756
Join the Global Community of Scotiabankers to help customers become better off.
Contributes to the overall success of the Credit/Risk – Account Maintenance-Financial – Canadian Wealth Management in Canada 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.
- Generate, modify, and interpret various reports (i.e. concentration, prohibited long and shorts, prohibited option positions etc.) to identify accounts that pose credit and market risk to the firm as well as violate industry and firm policies. Once identified, accounts are analyzed and corrective action such as contacting clients, contacting internal departments and front office staff, placing trades in accounts, etc. are taken to reduce or eliminate risk and ensure firm and industry compliance.
- Answer inquiries, explain policies and procedures, request approval for orders above set limits, update relevant information, and provide guidance to Online Brokerage staff, internal departments, and clients.
- Implement and remove trading and banking restrictions in margin, cash, and registered accounts, based on thorough analysis of account and trading patterns and activity.
- Monitoring market activity for security price fluctuations (min. 5 x per day) and evaluate accounts holding the position, take any corrective action necessary.
- Liquidating and purchasing securities as required.
- Approve and update debit limits for margin accounts within policy and cash withdrawals from cash and margin accounts.
- Identify and update securities with incorrect loan values in multiple systems and applications. The impact from incorrect loan values assigned can have a high monetary impact to the firm as the clients buying power is created from the loan values assigned on each security.
- Complete sundry duties as assigned including compiling and preparing statistics and internal reports, as well as monthly and year end capital requirement reports (regulatory reporting).
- Investigate non-routine problems and discrepancies to determine risk and exposure, and make decisions to minimize financial impact, protect the firm’s reputation, and prevent litigation;
- 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 in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
- Champions a high performance environment and contributes to an inclusive work environment.
Education / Experience
- Minimum of 3 to 5 years directly relevant investment industry experience, preferably with an IIROC member firm, in a relevant functional area (e.g. trading, operations, sales, audit).
- College Diploma or University Degree.
- Successful completion of the following Canadian Securities Institute (CSI) securities industry courses: Canadian Securities Course, Conduct and Practices Handbook Course, Derivative Fundamentals Course, Options Licensing Course and licensed as an Investment Representative with Options.
- Excellent interpersonal skills required, particularly in regards to diffusing difficult situations and solving problems in a calm and rational manner. Credit Analyst has direct contact with external clients.
- Tact, diplomacy and creativity to deal with internal and external clients especially when financial loss is involved in order to influence the client positively to settle their debts.
- Excellent time management and teamwork skills are essential to accurately accomplish specific tasks within strict deadlines.
- Excellent verbal and written communication skills required ensure clients and front and back office staff correctly understand directives to ensure protection against exposures due to incorrect actions as a result of poorly communicated directives.
- Excellent analytical skills, sound business judgment, and creativity required for non-routine problem solving to ensure against exposures due to incorrect action taken – such as sellouts – on accounts
- Expert level market knowledge in order to decide how to proceed with account issues. Credit Analyst deals with complex instruments and must be fully aware of their up and downsides.
- Expert level policies and procedures for decision making and education of support areas.
- Functional knowledge preferred: Versapath (BTS061, AOM Trader Session, Notepad), AS/400 Call Tracking, Thomson One, Bloomberg, Margin Rate Exceptions, Margin Debit Balance Maintenance Cash Up-Front Maintenance, Intraday Transactions, OnDemand, Dataphile, MS Office (Outlook, Excel, Access, Word).
Location(s): Canada : Ontario : Toronto
As Canada’s International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.
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. If you require technical assistance, please click here. 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.