Director, Derivatives & Commodity Settlements - Scotiabank, Toronto

The Opportunity

Join a purpose-driven, winning team at Scotiabank, committed to results within an inclusive and high-performing culture. As Director, Derivatives & Commodity Settlements, you will lead the global operating model supporting OTC derivatives and commodity settlements across Global Banking and Markets (GBM) and Group Treasury. This pivotal role involves overseeing end-to-end settlement operations, including cash flows, valuations, client servicing, and post-settlement controls. You will be instrumental in driving process standardisation, enhancing controls, and leading technology-enabled transformation at scale, contributing significantly to Scotiabank's operational excellence and strategic objectives.

Day-to-Day Responsibilities

In this dynamic role, you will be responsible for a broad range of operational leadership and strategic initiatives, ensuring seamless global operations for derivatives and commodities. Your daily activities will include:

• Overseeing end-to-end settlement operations for OTC derivatives and commodities across global regions.
• Ensuring timely and accurate processing of cashflows, valuations (MTM), client queries, claims, and specialised payments.
• Acting as an escalation point for operational issues impacting service delivery, controls, or client experience.
• Leading incident management and operational response during system or platform disruptions.
• Driving operating model optimisation, including process standardisation, scalability, and global consistency.
• Leading strategic initiatives and technology transformation to improve efficiency, capacity, and control strength.
• Increasing straight-through processing by reducing manual touchpoints and strengthening control frameworks.
• Identifying control gaps, operational risks, and process inefficiencies; implementing corrective actions.
• Establishing and monitoring KPIs/KRIs to track performance, risk, and service quality.
• Partnering with Technology, Front Office, Finance, and Risk teams to support system implementations and business growth initiatives.
• Overseeing global teams and ensuring consistent service delivery across jurisdictions.

Qualifications and Experience

To succeed in this challenging Director role, Scotiabank is seeking a professional with proven experience in capital markets operations and a strong understanding of derivatives. We'd love to work with you if you possess:

• Prior experience in capital markets operations, with deep expertise in derivatives or commodity settlements.
• Strong knowledge of OTC derivatives processes, post-trade lifecycle, and settlement flows (cashflows, MTM, claims, collateral/payments).
• Experience leading global or multi-region operations teams, including BAU delivery and risk management.
• Experience driving operating model transformation, process redesign, and technology implementation.
• Proven ability to improve straight-through processing, standardisation, and operational efficiency.
• Strong understanding of operational risk, controls, and regulatory requirements within capital markets.
• Experience partnering with cross-functional stakeholders (Operations, Technology, Front Office, Finance, Risk).
• Advanced proficiency in Excel, PowerPoint, and operational/reporting tools.
• Spanish language capability is considered an asset.

About Scotiabank

Scotiabank is a leading bank in the Americas, committed to providing a rewarding career path with diverse opportunities for professional development. When you explore Scotiabank jobs, you'll find an organisation dedicated to making a difference in our communities for both employees and customers. We offer a competitive rewards program that includes a bonus, flexible vacation, personal and sick days, and comprehensive benefits that commence on your very first day.

At Scotiabank, Diversity, Equity, Inclusion & Allyship are core to our values. We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and embraced through bias-free practices. Our various Employee Resource Groups (ERGs) span across diverse gender identities, ethnicity, race, age, ability, and veterans, fostering a truly inclusive environment. We also value the unique skills and experiences every individual brings, committed to creating and maintaining an accessible environment for everyone by continuously removing and preventing barriers. Discover why Scotiabank careers offer more than just a job; they offer a chance to grow and contribute to a diverse and inclusive workplace.