Shabir Somani
Thornhill,ON
Summary
Collateral Management specialist with a proven track record at Scotiabank, bringing strategic leadership and operational excellence to drive organizational success. Over 20 years of Collateral Management experience in OTC Derivatives, Repo, and CCP margin. Achieved significant cost savings and reduced operational risk through innovative solutions such as the implementation of Acadia Margin Manager which allowed for stp of OTC and Repo margin calls. Track record of fostering collaborative environments and achieving high impact results, working effectively with Risk, Portfolio Reconciliation, and Front Office partners.
Overview
17
17
years of professional experience
Work History
Senior Manager
Scotiabank
05.2013 - Current
- Provided strong leadership to enhance team productivity and morale.
- Led cross-functional teams to achieve project milestones and deliver high-quality results.
- Established strong relationships with clients and stakeholders, ensuring long-term partnerships and repeat business.
- Improved team performance by providing comprehensive training and fostering a collaborative work environment.
- Collaborated closely with peers from other departments to drive organizational success jointly as one cohesive unit.
- Reduced costs, optimized resource allocation, and improved efficiency in managing projects.
- Managed large-scale projects and introduced new systems, tools, and processes to achieve challenging objectives.
- Mentored junior staff members for skill development and career progression within the organization.
- Implemented and developed operational standards, policies and procedures.
- Implemented innovative solutions to overcome challenges, leading to enhanced productivity levels.
- Championed process improvement initiatives that led to significant cost savings without compromising on quality standards.
Manager - GWS Collateral Operations
Scotiabank
07.2008 - 05.2013
- Perform monthly and daily collateral management of OTC Derivatives in accordance with the Credit Support Annexes (CSA) and policies
- Manage a book of clients in the margining function, including exposure review, collateral valuation, margin calculations, position adjustments
Education
Bachelor of Administrative Studies - - Honours Maketing
York University
Toronto, None08-1999
Skills
- Familiarity with ISDA CSA, GMRA's, MRA, and MSFTA documents
- Worked with Colline, Algo, Finergo, K2/Peak, WSS, Murex, Swap One, Syncova, Thor, GDMS, and various other Scotiabank systems
- Adapting to volatile market conditions such as the 2008 financial crisis, providing high level reporting to Banks Senior Management
- Ability to manage multiple projects in high pressure environments
- Knowledge of regulatory initiatives facing OTC and Repo, by taking part in industry initiatives such as ISDA Collateral Working Group
Affiliations
- ISDA Collateral Management Working Group
Timeline
Senior Manager
Scotiabank
05.2013 - Current
Manager - GWS Collateral Operations
Scotiabank
07.2008 - 05.2013
Bachelor of Administrative Studies - - Honours Maketing
York University