Capital Markets Business Analyst
Location Address: 100 % remote
Contract Duration: 6 months
Number of Positions: 2
Schedule Hours: 9 – 5 – no OT
Reason: Additional support
Story Behind the Need
Business group: US Risk Management
Project: – The candidate will be working on new regulatory rules issued by the Federal Reserve and gain an in-depth knowledge of Liquidity reporting (contractual regulatory reporting from FR 2052a, as well as stress modeling for ILST)
Candidate Value Proposition: The opportunity provides good exposure for the individual as this project is at an early stage, and is highly visible within the bank – both locally in the U.S. for Risk and Treasury functions, as well as Head Office Treasury
Typical Day in Role:
– Support 2nd line oversight of Scotiabank’s FR 2052a 6G implementation, which is led by U.S. Treasury/U.S. International Money Markets & Funding as 1st line, as a result of the new regulatory rules issued by the Federal Reserve.
– The early part of the project (pre-March 2022) will be focused on reviewing the business requirements documents developed by 1st line for 6G elements.
This will include:
– Review and challenge of business requirements for the various products reported on the FR 2052a, specifically to incorporate changes from the current version (5G) of the FR 2052a, and ensure compliance with the new rules (6G) provided by the Federal Reserve.
– Review and Challenge of 1st line’s User Acceptance Testing of Technology’s development in line with Business Requirements before implementation into production
– Create independent test cases, and be self sufficient in executing testing, in addition to the reviewing of 1st line UAT results
– Liaise with Technology partners (in-house and vendor) to understand the implementation put forth, and raise gaps to what is detailed in the BRD and found during UAT (review and independent 2nd line tests)
– Understanding of the Federal Reserve’s changes of the FR 2052a rules and to reflect changes in the business requirements documents.
– Understanding of FR 2052a mapping to downstream reports STWF/LCR/NSFR, as well as in-house mapping for downstream ILST
– Manage and participate in workshops to flesh out and problem solve certain requirements.
– Analysis of data used in the reporting of the FR 2052a, and working with Data, Technology and Business groups to determine data gaps which would impede the reporting of the FR 2052a. This would provide input into the data mapping and Technology owned functional requirements.
– Track and report on 6G project work to communicate progress.
– Reporting to TRO team management when issues are found, and promptly identifying and escalating key problems which could jeopardize the project timeline
– Working collaboratively with TRO team members with cross communication for findings which may impact other areas of the FR 2052a report/downstream liquidity reports
– Clearly documenting and consolidating findings from 2nd line review to establish strong audit trail
– Maintenance of outstanding actions items/issues and driving everything to resolution
Candidate Requirements/Must Have Skills:
1) 3+ years of experience in a similar 1st line BA role/2nd line Risk role
2) Financial market/Capital market experience with a background in liquidity is necessary
3) Recent experience with FR 2052a – demonstrated in related project work either in 1st line reporting capacity, or 2nd line review of FR 2052a reporting. Any involvement in 5G build would be viewed favorably
4) 3+ years of experience performing/reviewing User Acceptance Testing required, as well as writing/reviewing business requirements, process documents, etc – documentation is important for this role
5) 3+ years of experience within data analysis in some capacity – strong analytical skills are required and high attention to detail is expected
6) Exceptional MS Office skills in particular Excel
– Previous experience with the regulatory reporting platform AxiomSL would be a plus, but not essential
– General liquidity knowledge beyond FR 2052a would be helpful, especially Liquidity Stress Testing as well as knowledge for NSFR/LCR and other liquidity metrics
Soft Skills Required:
– Excellent communications skills both written and verbal – findings and evidence of 2nd line oversight will need to be clearly documented and presented to Committees/Audit, as well as project working group
– Candidate must be able to articulate their thoughts concisely and put forth factual findings to 1st line and technology partners
– Persuasive but balanced in listening to facts/arguments challenging ones thoughts
– Candidate must have the ability to be a leader in their environment, and participate in group forums, discussions, etc to bring in new ideas and a new thought process
– This position requires a detailed driven individual and there is a strong need to be able to multi-task in what can be a stressful time-pressured environment.
– Awareness that project output results in reports being submitted to regulatory bodies as well as circulated within the Bank’s Sr. Management. Therefore this role requires high attention to accuracy and good communication skills
– Bachelor's degree in Accounting/ Finance/economics/STEM disciplines
Candidate Review & Selection
Phone screen 30 with manager- 2nd interview panel – 3 people 1 hr
Hiring Manager’s availability to interview: ASAP