Vice President, Treasury Operations

Hybrid / Toronto, ON
Treasury & Corporate Finance

Our Client

Our client is the Canadian Branch of a full stack global bank.  The group has more than 130 offices spread across 40 countries worldwide.  The North American division offers a range of commercial and investment banking services to its corporate and institutional clients.  We have partnered with the bank to work on a net new role, Director/Vice President, Treasury Operations.

Position Overview

This Vice President will report to the Head of Operations and will manage a group of payments processing specialists responsible for processing high-volume, time-sensitive treasury transactions which include Deposits, Foreign Exchange, Money Market, Letter of Credit, Cheque Clearing and Swaps.

You will oversee payments and reconciliations processes, payment support, check clearing, and processing chargebacks. Monitor quality of service and delivery times and provide subject matter knowledge to the team on complex and escalated payment queries. Manage disputes and exceptions related to payments and lead investigations for operational issues, ensuring timely resolution of live service issues. Prepare cash flow forecasts to ensure that funds are available for processing. Ensure day-to-day operational readiness and compliance with internal controls and regulatory policies and standards. Collaborate with cross-functional teams to define payment processing workflows.

How you manage Internal stakeholders will be a key success factor so this position will also be responsible for liaising with Risk, Compliance and Audit by conducting and demonstrating solid understanding of all regulatory compliance requirements impacting domestic and international payments.

Role Responsibilities

  • Complete daily payments processing activities, processing inbound and outbound payments for all product areas supported. Ensure payment transactions are fully captured, and all payment-related information is processed adhering to established service level agreement and industry guidelines and applicable regulatory and policy standards.
  • Liaise with Risk, Compliance and Audit and other cross-functional teams to support investigations, review risk and incident reporting and ensure continuity of BAU processes. Liaise with vendors and other service providers in order to improve processes and client experience. Manage operational relationships with correspondent banks and partners. Provide training to staff on all operational processes and organizational initiatives. Coach, mentor and manage staff ensuring effective performance management and driving employee engagement.
  • Trains and provides day to day guidance to staff in the Operations Department by upholding team values and facilitating the development of expertise.
  • Provides a high level of customer service to ensure all client queries and investigations are resolved promptly.
  • Liaise with Risk, Compliance and Audit and other cross functional teams to support investigations, review risk and incident reporting and ensure continuity of BAU.
  • Act as liaison with other banks in the resolution of inter-bank issues managing disputes and exceptions related to payments and lead investigations for operations issues ensuring timely resolution of service.
  • Verifies and approves all outgoing payments and messages, all clearing, FX, Money Market, Swap, and Loan transactions and new and amendments to L/C, incoming and outgoing documents as well as all payments re L/C’s.
  • Complete daily payment processing activities ensuring transactions are adhering to industry guidelines with applicable regulatory and policy standards.
  • Checks reconciliation of Nostros daily, ensuring that outstanding items are cleared on a timely basis.
  • Checks and approves brokerage payments monthly, ensuring they are accurate and paid on time.
  • Reports incidents or potential risks to the direct manager or above and takes prompt actions to remediate.
  • Attends compliance training and integrates the learning requirement into their functional areas ensuring adherence to policies and procedures.
  • Ensure staff are properly trained for business disaster recovery. Also guaranteeing proper cross training is in place for all procedures related to the department.
  • Drafts, amends and updates Operations Manuals in a timely manner, at least on an annual basis.
  • Ensures record keeping requirements are met for records controlled by Operations Department.
  • Initiates, participates in and assists Branch projects as needed.
  • Participates in all GIS testing requirements as needed to facilitate systems upgrades and enhancements.
  • Other relevant duties as assigned by superiors.

Desired Qualifications

  • Undergraduate degree in Finance or Commerce.
  • Minimum of 10 years previous bank experience with extensive knowledge in Treasury Operations, DDA, and Trade Finance.
  • Demonstrate thorough operational knowledge of payments and related activities; knowledge of high-volume payments processing, reverse-wire, real time payments (RTP) and digital payment processing.
  • Demonstrate good knowledge of treasury products and activities.
  • Ability to define, develop and implement operational policy and procedures; demonstrate ability to define controls and develop management action plans in response to audit investigation outcomes.
  • Demonstrate good understanding of fraud mitigation and risk management related to payments and reconciliations.
  • Demonstrate solid understanding of all applicable regulatory and compliance requirements impacting domestic and international payments and remittance transaction processing.
  • Knowledge of Canadian clearing arrangements.
  • Strong knowledge and understanding of SWIFT messages and system.
  • Good understanding of Canadian Payments Association Rules and FINTRAC requirement.

We appreciate your interest in this role.

In sharing your resume, you place your trust in us to treat you with integrity and respect and act in your best interests. All resumes will be held in the strictest of confidence.

Those who most closely meet our client’s requirements will be contacted for an interview.

Please pass this opportunity forward. We welcome all referrals should someone in your network benefit from this opportunity.

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Katie Watt

Research and Operations Specialist

Katie enjoys being part of the Research and Operations division at Thorek/Scott and Partners. Katie utilizes her skills in research, project and data management to support the recruiting efforts of the Thorek/Scott and Partners team. She enjoys working in the positive team atmosphere that Thorek/Scott and Partners offers.

After completing her Master’s in Geography at the University of Toronto, Katie worked in consulting in the environmental non-profit sector where she conducted policy analysis and delivered workshops on sustainable development. Katie continues to pursue her passions of environmental protection by volunteering with local environmental non-profit organizations.

Lisa is thrilled to be a part of the team at Thorek/Scott and Partners. Lisa’s deep background in financial services, relationship building, and customer service coupled with her background in operations and support has been instrumental to the firm’s Research and Operations division. Prior to joining Thorek/Scott and Partners, Lisa worked for over 10 years in a large Canadian Bank in front facing, client operational roles. Having worked for large organizations in the past, she is delighted to be part of a close-knit group and enjoys the upbeat office and friendly environment at Thorek/Scott and Partners.

In her free time, Lisa enjoys reading, crafting and spending time with family and friends.

Derek Young is a former finance professional turned recruitment consultant. He connects top-tier talent with prestigious organizations seeking exceptional leaders. His expertise lies in the recruitment of high-caliber risk and compliance professionals for investment management, real estate, and financial services firms across North America.

Derek joined Thorek/Scott and Partners after a successful tenure with one of the largest globally recognized recruitment firms, where he specialized in consulting legal and compliance professionals across financial & professional services. He is passionate about helping people fulfil their long-term career aspirations. Derek’s personable approach and knowledge of the financial landscape allows him to develop strong relationships with both candidates and clients.

After completing his B.Com from the University of Toronto’s Finance program, Derek began his career as a financial advisor working for two of Canada’s largest wealth managers. These roles taught him the importance of listening to his clients and always putting their goals first. Derek has lived and traveled in Ireland, Europe, Asia and Africa. He enjoys playing and watching a variety of sports, and spending time with friends and family.

Lisa is thrilled to join the Thorek/Scott and Partners team and brings 30 years of experience in large public sector organizations. She has held multiple executive leadership positions in the education sector and as CEO was responsible for overseeing all aspects of the organization including Human Resources, Operations, Information Technology, Finance, Capital, and Leadership.

Lisa brings her insight and experience to executive recruitment. She is a highly motivated and goal-oriented professional dedicated to finding high quality talent.

Lisa has worked with multiple stakeholders within the community and at the Provincial level. She has trained senior executives on Strategic Planning and Implementation in Canada and the United States. She has taught Masters’ level courses and College programs. She has authored documents on Strategic Planning, Poverty, Succession Planning and Leadership Development.

She holds a Bachelor of Arts in Psychology, and a Master’s degree in Leadership/Administration. Lisa completed the Executive Leadership programs at Rotman School of Management and the Richard Ivey School of Business as well as earning multiple certificates at the Queens Executive Education Program.

Lisa belongs to several professional organizations including the Professional Women’s Network, Equal Voice and Elevate. In her spare time, she enjoys spending time with family, travelling, and giving back to her community.

Lauren Thorek is proud to be a member of the recruiting team at Thorek/Scott and Partners. Since joining the firm, Lauren has taken an active role in providing the highest levels of service and support to our clients and candidates.

Ethical, passionate and innovative, Lauren builds lasting relationships and strives to create solutions tailored to fit the short-term needs and long-term goals unique to different individuals and organizations. She thrives on challenge and is motivated by exceeding expectations on tough, hard to close searches.

Active in multiple sectors including Real Estate, and Investments and Financial Services, Lauren views success as being a passionate advocate for her candidates and a valued partner to her clients.

Sari Friedman is delighted to be back at Thorek/Scott and Partners. With over 25 years of real estate and finance experience and a passion for people, transitioning into the recruitment industry was a natural fit for Sari. 

She brings multiple experiences and synergetic attributes to her role at Thorek/Scott. Having worked as an equity research associate covering real estate and REITs, Sari has a strong understanding of the real estate industry. She holds a real estate license, has actively traded real estate and is a personal investor. Sari’s technical insight combined with her outstanding business acumen, strong negotiation and research skills adds tremendous value to clients and candidates. 

Sari is well known for her caring and friendly demeanour. She is passionate about helping people with an emphasis on providing an individualized human experience. She will often go above and beyond when coaching her candidates and clients throughout the recruitment process. Sari takes the time to understand the needs of her clients and candidates and creates long lasting relationships. 

Sari graduated from University of Western Ontario majoring in Economics and earned her MBA from the University of Toronto Rotman Management Program. She enjoys spending time with her family and friends, cooking, travelling and camping.

Steven is a CPA who graduated with an honours bachelors degree in business from McMaster University & from Cornell University with an Executive MBA. Before joining Thorek/Scott he spent his career in industry, building large support service teams and also taking an active role in the overall corporate recruitment functions as a VP/CFO. He prides himself as a recruiter who is transparent, a great communicator and gives honest feedback.

Steven is passionate about travelling, having visited over 130 countries, and about his Toronto Maple Leafs.

Faye Thorek is an accomplished executive search consultant with over 40 years of experience in the Canadian recruitment market. Known for her keen insight and compassionate dedication to her work, Faye envisions herself as an advocate for those with whom she conducts business. Over the years, Faye has consulted numerous companies on how to best craft their strategic vision and then taken the lead on executing that mandate. She has spoken on recruitment and search issues to a wide range of audiences.

Outside of the office, Faye is also a committed investor in people. She volunteers with Out of the Cold, Kids.now, and Bereaved Families of Ontario (BFO). She has sat on the Professional Development Steering Committee of the HRPAO. She is a former member of the Board at BFO and the North York Harvest Food Bank.

Having founded Thorek/Scott and Partners over four decades ago, Michael Thorek has been shepherding its growth ever since. Together with his wife, Michael is dedicated to building a business with humanity, innovation, and excellence at its core. A specialist in the recruitment of talent for the Financial Services Industry, Michael has currently turned his interest towards the field of Risk Management, Capital Markets and Database Marketing Analytics. A jack of many trades, Michael is also a father, inventor, scholar and scribe, who possess a keen interest in comparative religions.