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Director, GBM First Line Supervision, Internal Controls
2 months ago
Requisition ID: 192164
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank's strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.
Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.
Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries We work together to drive ambition for every future
Purpose
Designs and implements control processes with input from the GBM business lines (Line 1A) and the second lines of defense (e.g. Compliance), thereby contributing to the overall success of the first line of defense in managing operational risks inherent in the businesses.
Leads and directs supervisory activities for both Trade Floor Supervision ("TFS") and Internal Control ("IC") delegated by the specific Global Banking & Markets business lines (Line 1A in the three lines of defence model for managing operational risks). Provides supervisory support and serves as a subject matter expert in the products and services offered by the businesses to assist in risk oversight on day-to-day trading and sales activities. As part of the TFS mandate, works with the front office, to ensure that trading and communications surveillance is conducted in accordance with local regulatory requirements.
What You'll Do:
- Lead/direct/execute delegated trade and communications surveillance and supervisory tasks from the businesses (Line 1A) consistent with the established supervisory framework.
- Conduct sales and trader oversight activities, escalating negative trends to the respective heads sales and trading/business line heads for remedial action.
- Act as the escalation point for incidents (e.g. delays in signing off daily P&L, errors, disputes), investigate and remediate as necessary.
- Develop and provide training to business line (1A) personnel on non-financial risks and controls and supervision procedures.
- Maintain an audit trail of supervision activities and maintain documentary evidence of delegations of such activities by business line (Line 1A).
- Evaluate impact on operational risk management from changes resulting from business expansion into new geographies, new products and services, organic business growth, system changes/new implementation, regulatory requirements.
- Drives industry change by advancing GBM perspective with industry committees and working groups.
- Review regulatory and audit findings and work with business line management (Line 1A) to formulate responses and track to remediation.
- Coordinate responses to regulatory requests on behalf of the business (i.e. oversees, tracks and responds to regulatory findings).
- Lead in providing regular KRI / KPI reporting to GBM Management on the condition of internal controls in the respective business lines including analyses of root causes of control breakdowns and determine appropriate corrective actions.
- Lead and supervise teams within Internal Control that execute delegated supervisory and oversight responsibilities of Internal Control and Trade Floor Supervision from Line 1A;
- Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.
What You'll Bring:
- Individual should be licensed as a Supervisor with CIRO and FINRA
- Strong working knowledge of regulatory requirements that govern trading businesses in Canada, USA, Europe, APAC, and LATAM etc.
- Individual must have strong supervisory and management skills coupled with the ability to hire, place and train incumbents
- At least 10 years' experience in a trading and operational risk management role
- In-depth knowledge of capital markets business, including Equity, Fixed Income, Listed Derivatives, Foreign Exchange
- Expert knowledge of internal controls
- Extensive experience interacting with senior executives and managing key relationships throughout the organization
- This role requires successful completion of the National Futures Association Swaps Proficiency Requirement (SPR) within 90 days of assuming the role
Work Arrangement:
This position is currently a Hybrid role, with the expectation that you will work 3 days a week in the office. Please note that this is subject to change based on the needs of the business.
#LI-Hybrid
Interested?
If your experience is closely related but doesn't align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank
At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That's why we work to grow and diversify talent and engage employees in a performance-oriented culture.
What's in it for you?
Scotiabank wants you to be able to bring your best self to work - and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.
Location(s): Canada : Ontario : Toronto
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.
