Ritesh Widge, MBA

Leading a team focused on the key functions of settling a counterparty trade with an end-to-end responsibility function including: confirming the trade with middle office and client party, initiating outgoing payments, supporting reconciliations with cleanup on pending or incorrect trades, and settling trade disputes to clear historic outstanding breaks. Managing the cash flows to 1300+ cash operating accounts including internal and correspondent accounts for Scotiabank’s Capital Markets division, with accounts in 80+ countries. Working in support capacity for several key bank functions including trading desk, middle office, treasury, reconciliation, and investigations. • Leading the initiative to consolidate and modernize settlement processes, as well as working with the payments modernization team to mitigate impact while undergoing a system upgrade. • Using prior experience within the capital markets space to assist with clearing aged reconciliation breaks and reducing counterparty risk to both internal and external clients. • Developing dashboards to increase visibility within the executive management structure on daily stats including key stats focused on risk mitigation. • Working on projects to modernize outgoing settlement and trading systems. • Updating team templates linked to SWIFT to standardize outgoing messages to international counterparties. • Centralizing processes imbedded in the international teams and centralizing process flows.

Building out the cash management processes within the firm. Leading the implementation and deployment of the TMS system including the payment processing platform to centralize and streamline payments. Working on development of short dated forecast to provide clear insight on available cash to larger finance team and executives.

Member of the FSRB and FRG oversight committee working on designing the RTR regulations

Led the daily Cash Management Operations within Treasury including Deposits and withdrawals oversight, corporate Cash management and streamlining of existing processes in both the broker dealer and the Corporate FX space. Worked with product and vendors to implement new funding mechanisms within Questrade as well as worked on the implementation of the TMS platform into the existing treasury environment to streamline and centralize workflows. Overall responsibility also included the leadership of a team of treasury associates

Focus on Corporate Strategy, Finance, and Leadership. Additional course focused on framework of the Creative Destruction Lab accelerator programs for start-ups and new ventures. Coursework complete, degree to be conferred June 2020.

• Leading the reconciliations team with a focus on 800+ Cash Operating accounts including Internal IBA’s, and Nostro Accounts. Responsible to ensure team reconciles and reports breaks in a timely and accurate manner. • Ensure that outgoing reports to senior management are sent across are accurate and relevant, constantly looking for enhancements. Previous oversight on the migration of existing reports from Excel to Tableau platform. • Worked with Product Control to onboard existing business to GWO, and worked to onboard new business in a timely manner. • Consistently working with Business Analyst on updating the cash management tools used to fund Nostro accounts to improve accuracy, and reduce processing time. • Currently part of the GWO Global Reconciliation Platform as a Business SME.

• Led team of 13 analysts responsible for the reconciliation of Toronto and New York based Nostro accounts, as well as the Toronto based IBA accounts with a focus on Money Market/ Foreign Exchange/ Derivative Products. • Provided high level of support to management senior management including running Ad-hoc reports on request of Director and Vice President. • Created period end departmental summary reports being submitted to Senior Manager/ Director. • Worked closely with Derivatives and Product Control in the migration of all Derivative reconciliation from Spreadsheet reconciliation to the Corona Reconciliation tool. • Designed and implemented multiple workflows, including the reconciliation of Security items settled on Impact, centralization of the Derivative reconciliation since migration to Nostro in June 2014.

Senior Specialist- Historic Cash/ Bank Reconciliation • Worked in a group focused on clearing over 30,000 historic breaks outstanding on the Derivative Inter Branch accounts. • Project directly reporting to SVP/ CFO. • Located process flaws, and possible improvements. • Located non-receipt of funds from external clients, as well as working with internal departments to locate missing funds located in other department books. • Worked alongside Securities and Product Control in an effort to improve referencing and improving Application feeds to reduce breaks and increase reconciliation accuracy. • Located entries with a potential to impact the overall P&L.

• Provided high level of support to management senior management including running Ad-hoc reports on request of Director and Vice President. • Ran period end departmental summary reports being submitted to Senior Manager/ Director. • Responsible for verification and authorization of messages being sent to correspondent banks, funding payments to prevent overdraft account charges, Nostro account position reports being distributed to senior management. • Led team of 10 analysts responsible for the reconciliation of Toronto and New York based Nostro accounts, as well as the Money Market Inter Branch Accounts.

• Proved support to the London Business accounts, including London based Nostro’s, Fixed Income Business accounts, and Precious Metals London Accounts. • Ran period end summary reports for London based accounts, being submitted to Senior Manager/ Director. • Backup for compilation and distribution of daily summary reports including the foreign currency position reports, funding smaller Toronto Nostro accounts, and weekly summary reports highlighting potential risk to Scotiabank.

• Reconciled Toronto and London based Nostro accounts, with knowledge of the reconciliation of over 100 currencies. • Generated daily cash position reports for the main Nostro trading accounts, advising senior management of potential overdrafts and potential risks for each account. • Responsible for the daily funding of over 50 Nostro accounts with various deadlines throughout the day to their target balances. • Generated several period end reports including Overdraft allocations reports, volume statistics used for trending, and completing reports sent by finance including liquidity reports split by currency.

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