Requisition ID: 191974

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

Purpose of Job:

TSG is the Scotia Wealth Management (SWM) Agency Trading Desk which supports SWM business lines by providing them trade execution on client orders, guidance on prevailing market conditions, trade execution strategies to obtain optimal pricing, and the benefits/risks related to their orders.

The Trader, Fixed Income & Foreign Exchange will contribute to the overall success of the division by ensuring individual and departmental goals are executed effectively in support of business objectives.

Major Accountabilities:

Trade Execution

• Provide trade execution support and market insights and guidance to SWM businesses.
• Ensure SWM business representatives understand the risks/rewards and other potential outcomes when executing a transaction.
• Educate Wealth Advisors and other SWM businesses on regulatory requirements, market best practices, internal compliance requirements and TSG’s procedures pertaining to trade executions.
• Be a Subject Matter Expert (SME) on the products traded by their team which requires the incumbent to participate in the resolution of trading, compliance and operational issues related to their trades.
• Support TSG’s customer focused culture by developing and maintaining strong relationships with Wealth Advisors and other GWM business representatives.

Risk Management

• Understands Scotiabank’s risk appetite and risk culture and use the bank’s risk mitigation strategies and processes to manage risks in day-to-day trading activities and decisions.
• Ensures that they conduct themselves in accordance with Scotiabank’s Values, its Code of Conduct and Global Sales Principles.
• Maintains up-to-date knowledge on markets, products, competitors, and regulatory changes.
• Adhere to trading compliance requirements, internal / external guidelines, rules, and regulations by:
  • Ensuring all business is conducted within internal and external guidelines, rules, and regulations.
  • Escalating any control gaps, they identify to TSG management to mitigate operational risk.
  • Ensuring trades are completed within the regulatory and business rules of the underlying product.
  • Ensure trades are booked accurately, in a timely manner and within market convention while maintaining the highest level of focus on the trade details.
  • Address and document trading errors and once identified, escalate as appropriate.
  • Maintain the highest level of integrity and ethics as it pertains to the trading and managing sensitive and confidential information.
  • Knowing and adhering to all regulatory requirements, compliance, and internal business policies and procedures.
  • Assist the TSG’s Supervision team with regulatory and operational risk queries from Wealth Compliance and internal risk groups.
• Participate in the daily Scotia Capital FX reconciliation task to manage the firm’s FX risk exposures.

Education/Work Experience/Designations

• 3 – 5 years’ experience within the securities and/or banking industry – previous trading experience would be preferred.
• University degree in business, economics, engineering, or another related field.
• Relevant industry courses including Canadian Securities Course (CSC), Conduct and Practices
• Handbook (CPH) and the Trader Training Course (TTC).
• Knowledge of technology used to support trading and trading operations functions – ideally Broadridge, Charles River, CBID, Bloomberg, MarketAxess and Bloomberg TOMS.
• Sound judgment, superior problem-solving and analytical thinking skills.
• Ability to work autonomously combined with the ability to maintain close working relationships.
• Superior interpersonal skills with a demonstrated ability to negotiate resolutions to disputes.

Dimensions:

• Deploy a high standard of care and judgement when trading the orders of SWM clients.
• Conduct trading activity within the limits approved by the Bank’s Risk Policy Committee (MRMPC).
• Knowledge of the trading platforms used for Fixed Income, FX and GIC products.
• Working knowledge of the end-to-end trade cycle workflows, amongst Front, Middle, and Back Office to ensure client trades are not impacted by clearing and settlements issues.
• Well versed in the rules and regulations that apply to Fixed Income, FX and GIC trading.
• Ongoing need for continuous learning to maintain/upgrade technical expertise and knowledge of industry regulations and trends.

Working Conditions:

• Fast-paced trading floor with numerous factors which can contribute to a high level of mental and physical stress, which include volatile financial markets, tight deadlines, continuously changing priorities and business critical strategic initiatives.
• Longer than standard working hours to manage deadlines, business priorities and client events.
  

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. 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.