Requisition ID: 220490
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Purpose Contributes to the overall success of daily cash management operations of secondary Nostro management within Payment Processing Operations for designated accounts in North America, ensuring specific individual goals, plans, and 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.

Cash Management Operations

• Executes secondary Nostro cash management operations, monitors account balances to meet EOD targets and works to maximize interest revenue on idle cash.

• Works with leaders to augment existing MTO functions and requirements with additional EOD processing and funding duties (e.g., ACSS / US).

• Utilizes Nostro management software and internal systems to track payment statuses and resolve payment issues.

• Collaborates with LoBs and Treasury to minimize overdraft interest and opportunity costs.

Payment Initiation

• Executes the initiation of funding / drawdown payments to / from secondary Nostro accounts in keeping the EOD target balances, ensuring accuracy and timeliness.

• Works with leaders to initiate payments or resolve issues / delays to payment processing while maintaining segregation of duties (initiation vs. movement of funds).

• Leverages GDMS (or equivalent) for payment initiation & payment throttling mechanism (via APS or equivalent platform) and provides inputs for future development.

Account Forecasting

• Develops and maintains accurate account forecasts, projecting future cash flows and liquidity needs of secondary Nostro accounts.

• Works with leader and Group Treasury representatives to refresh end-of-day cash balance targets on a periodic basis with inputs from LoBs to reduce idle balances, manage operational risks, avoid overdrafts, and optimize daily transactions required.

• Enhance forecasting capabilities by developing and maintaining interactions with "upstream" sales teams (e.g., GBM / CAN Banking Sales) to provide alerts and notifications for upcoming large-scale transactions (e.g., M&A deals, bulk payments etc.).

Operational Reporting

• Works with leaders to prepare regular operational reports that provide insights and analysis on secondary Nostro account activities including cash positions, transactions, and actions taken to enable Ops to better monitor cash flows & improve decision-making via insights.

• Ensures compliance with internal and external reporting requirements, such as operational issues or exceptions, regulatory filings, and audit requests.

• 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 their 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.

Dimensions

• Key Performance Objectives

  • Maximize secondary Nostro account idle cash utilization per EOD targets.

  • Minimize fees associated with secondary Nostro account operations.

  • Able to make timely decisions related to secondary Nostro accounts while keeping the stakeholders informed.

  • Able to make timely decisions related to secondary Nostro accounts while keeping the stakeholders informed.

• Key Behaviours & Skills

  • Technical Capability: Understands various liquidity management and payment systems to ensure operational liquidity and optimize cash allocation for secondary nostro accounts.

  • Data-driven: Leverages available data to forecast accounts, generate insights, and make informed decisions.

  • Effective Communicator: Coordinates well with key stakeholders (LoBs, Network Management, Group Treasury, Nostro banks, etc.).

  • Adaptable: Demonstrates curiosity and embraces change to build out net-new capabilities for Nostro management.

Education / Experience

• Designation, Licensing

• Specific bank and/or industry experience

• Specific functional or product knowledge

• Specific regulatory or compliance knowledge

Working Conditions

• Work in a standard office-based environment; non-standard hours are a common occurrence.

• Limited/moderate/extensive (update as appropriate) travel domestically/internationally/globally (update as appropriate).

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.