Manager of Regulatory Compliance Operations

Is this position the right fit for you?

In this role, you will:

• Play a pivotal role in the success of the Regulatory Operations & Controls Department by achieving individual objectives and initiatives that align with the team's strategic business goals.
• Ensure that daily operations are in sync with the Bank's risk culture, appetite statement, and established limits.
• Effectively communicate the Bank's risk culture and appetite statement across teams.
• Actively maintain efficient operations, ensuring adherence to daily business controls for operational and regulatory compliance.
• Lead, initiate, and engage in various projects from the requirements phase through to implementation and ongoing support.
• Foster a customer-centric culture within your team to enhance client relationships and leverage broader Bank resources, systems, and knowledge.
• Oversee the recruitment, management, and development of team members, promoting a culture of excellence and positively influencing team dynamics to ensure operational success.
• Prepare and generate metrics dashboards on a monthly basis for management reporting, including gathering, analyzing, and interpreting data trends to enhance business processes and service levels.
• Understand the implications of the Bank's risk appetite and culture in daily activities and decision-making.
• Contribute to defining the team's business strategy while committing to your own professional growth.
• Create an environment where the team strives for effective and efficient operations in line with Scotiabank's Values, Code of Conduct, and Global Sales Principles, ensuring the adequacy and effectiveness of daily business controls to meet operational and compliance obligations.
• Build a high-performance culture and implement a people strategy that attracts, retains, develops, and motivates team members through an inclusive work environment and a coaching approach.

Program Governance & Oversight:

• Manage essential controls for regulatory compliance, leading the development of a comprehensive framework for FATCA, CRS, and QI programs in accordance with regulatory requirements and industry best practices.
• Ensure compliance and effectiveness through proactive risk management, control measures, and governance initiatives. Monitor global regulatory changes, conduct gap analyses, and collaborate with stakeholders to manage regulatory updates.
• Develop and implement the Enterprise Regulatory Compliance Management (eRCM) program by reviewing regulatory obligations and mapping relevant regulations to appropriate business lines and countries.
• Support stakeholders in the Compliance Risk and Control Assessment (CRCA) by leading program-level guidance assessments for Tax Programs (FATCA, QI & CRS).
• Develop and implement robust enterprise strategic plans and change management strategies.
• Share updates through impactful communications, manage executive dashboards, and provide regular program updates to keep stakeholders informed.
• Oversee the creation, implementation, and maintenance of enterprise documentation, including policies, procedures, training materials, risk assessments, and controls mapping.
• Implement comprehensive processes to enhance transparency, track program progress, and escalate critical issues to senior management.
• Collaborate with government agencies, consulting firms, and industry peers to advocate for Scotiabank's regulatory stance during the introduction or modification of guidelines.

FATCA & CRS Governance:

• Monitor and interpret updates to FATCA & CRS regulations and guidance from regulators and industry sources, assessing their impact on Scotiabank's documentation and due diligence processes.
• Engage with local regulators to advocate for Scotiabank's regulatory position regarding new or revised guidance.
• Collaborate with industry groups on regulatory guidance to ensure Scotiabank's position aligns with other financial institutions.
• Provide gap analyses to Business Lines when revised regulations are released by local regulators.
• Maintain relationships with Business Lines, offering direction and oversight on the implementation of revised regulations.
• Offer expert knowledge and guidance to Business Lines and team members to ensure compliance with revised guidance and regulatory requirements.
• Monitor milestone completion, escalate issues and risks as they arise, and propose mitigation plans as necessary.
• Prepare and coordinate executive dashboards and program status updates against milestones on a scheduled and ad hoc basis.
• Provide subject matter expertise on the design and delivery of the Enterprise FATCA & CRS training program.

QI Governance & Sustainment:

• Implement, monitor, and enhance the QI regulatory operating model.
• Develop and implement regulatory compliance programs to balance operational efficiency with regulatory adherence.
• Establish key controls around Documentation, Withholding, and Reporting.
• Conduct periodic certifications of internal controls to the IRS.
• Provide subject matter expertise on the design and delivery of the Enterprise QI training program.
• Address immediate operational challenges by collaborating with key stakeholders to develop end-to-end processes and track program progress.

FATCA & CRS Fulfillment:

• Oversee and lead processes related to daily management of FATCA and CRS cases.
• Manage the creation and maintenance of Standard Operating Procedures (SOPs) to support due diligence and documentation activities.
• Strategize and implement process improvement initiatives within the team.
• Ensure controls are executed to monitor accuracy and adherence to policy for cases managed by the Fulfillment Team.
• Conduct gap assessments to identify opportunities for process enhancements.
• Champion the implementation of efficiencies to minimize compliance risks.
• Effectively manage escalations to ensure prompt resolution and minimal delays.

Do you possess the skills that will enable you to excel in this role? – We would be pleased to work with you if you have:

• A university degree with a minimum of 7 years in the financial services sector, including experience with regulatory programs.
• Expertise in FATCA, QI & CRS regulatory requirements and compliance.
• Proven leadership abilities and experience in team management.
• Strong understanding of banking, operational risk, regulatory risk, compliance, and internal control principles.
• Awareness of and engagement in activities across all business lines, with an understanding of the regulatory perspective on risk.
• Commitment to high standards of performance, confidentiality, integrity, timeliness, and efficiency.

Work Arrangement: This position is currently a Hybrid role, subject to change based on business needs.

Interested?

At Scotiabank, every employee is empowered to reach their fullest potential, respected for their individuality, and embraced for their differences. We strive to grow and diversify talent while engaging employees in a performance-oriented culture.

What’s in it for you?

Scotiabank is committed to helping you bring your best self to work and life every day. Our flexible benefit programs are designed to support your unique family, financial, physical, mental, and social health needs.