Derivatives Clearing Officer
Derivatives Clearing Officer
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Job Description
Requisition ID: 227556
Join a purpose driven winning team committed to results in an inclusive and high-performing culture.
As a Derivatives Clearing Officer you will provide support for exchange traded options and backup and support for all functions within the Contracts & Options departments. You will also provide support for other desks such as US and Canada Equity Clearing and Trade Admin.
Is this role right for you In this role you will:
- Perform Canadian Derivatives Clearing Corporation (CDCC)/Option Clearing Corporation (OCC) reconciliation & process settlement
- Support the Institutional Equity Option Trading line to process give ups of CAD and US listed option trades
- Process option assignment/exercise and option transfer between brokers
- Monitor and facilitate pledged securities Escrow
- Monitor illogical & pair off report for CDCC items and take appropriate action
- Process CDCC series adjustments
- Take appropriate action for institutional execution and settlements
- Submit FIFO information on OCC & CDCC
- Report Options Positions to the TMX/CDCC regarding holdings over established regulatory thresholds
- Monitor corporate actions ensuring special settlement instructions are reflected in the appropriate accounts
- Cross train and provide coverage on other areas of the department such as Trade correction Canadian & US Clearing Desks and any new desks as required
- Work with the team to complete requirements of Option weekly/monthly expiry
- Provide client service in accordance with Scotia Service Standards
- Acquire & maintain knowledge of all systems required to complete tasks in an efficient manner
Do you have the skills that will enable you to succeed in this role Wed love to work with you if you have:
- A University Degree or College Diploma or equivalent
- Canadian Securities Course (CSC) or working towards is an asset
- A foundational knowledge of options including concepts such as call and out options long vs. short positions & option expiry
- Experience with or familiarity in using trade reporting systems such as Arrow AS400 BPSA Webpost On Demand OAES and Broadridge products (pertaining to trade processing)
- Experience with CDCC and OCC derivatives clearing systems/platforms for clearing of options
- Solid working knowledge of Microsoft Office products including Excel
- A focus on attention to detail with a strong emphasis on accuracy in aspects of reconciliation
- Strong analytical skills to assess trade-related issues logically and resolve effectively
- An ability to multitask effectively and to complete tasks efficiently and accurately often under time constraints
- Effective verbal and written communication skills with the ability to remain calm organized and professional in high-pressure situations
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.
Required Experience:
Unclear Seniority
Employment Type
Full Time
