Senior Compliance Specialist

2 days ago

Toronto, Ontario, Canada Scotiabank Full time

Estimated Annual Salary: $120,000 - $180,000

About Scotiabank

Scotiabank is a leading bank in the Americas. Our purpose is to 'empower people and businesses to succeed.' We offer a range of advice, products, and services to help our customers achieve their goals.

About the Role

We are seeking an experienced Senior Compliance Specialist to join our team in Toronto, Canada. As a Senior Compliance Specialist, you will play a critical role in ensuring that our operations comply with regulatory requirements and industry standards.

Key Responsibilities
  • Manage and execute projects independently or within cross-functional teams with minimal oversight.
  • Support the development and execution of a robust testing plan by reviewing assigned business or operational units in accordance with Testing Standards, Enterprise AML/ATF and Sanctions Policies, and applicable regulatory requirements.
  • Support with the development of methods and standards for reviewing Canadian AML/ATF and Sanctions Program requirements, and execute multiple simultaneous review engagements, identifying areas for improvement and ensuring appropriate corrective actions are taken.
  • Communicate with business lines and operational units, presenting results to Management, including senior leadership (VP+), and ensure all deliverables are completed within negotiated timeframes and established department guidelines, escalating as necessary.
  • Track the status of corrective action plans for identified control deficiencies and manage personal development to enhance knowledge and skills related to AML/ATF through research, courses, and building relationships with internal and external partners.
  • Understand the Bank's risk appetite and risk culture in day-to-day activities and decisions, and perform ad-hoc, special, focused, and other duties and projects as necessary.
  • Maintain a high level of expertise by researching best practices and AML trends, participating in industry associations, and developing strategic relationships with key stakeholder departments across the enterprise.
Requirements and Qualifications
  • A Bachelor's degree or BA in Business (or international equivalent) or related field experience with a minimum of 3-5 years in AML (self-assessments/testing), AML Audits, AML Regulatory examinations, Compliance examinations, or quality assurance within a financial institution.
  • Strong knowledge of Canadian AML/ATF and Sanctions regulatory requirements, including the Proceeds of Crime Money Laundering and Terrorist Financing Act (PCMLTFA) and Regulations (PCMLTFR), Designated Persons Listings and Sanctions Laws, and FINTRAC Guidelines.
  • Understanding of AML/ATF and Sanctions risks related to the Bank's business lines, geographies, client types, products, services, and transactions, along with strong analytical, investigative, project management, planning, problem-solving, and critical thinking skills to handle complex operational issues in a matrix organization.
  • Demonstrated integrity in working with colleagues and leading by example, with excellent teamwork, interpersonal (written and verbal communication), and conflict resolution skills to manage difficult conversations with senior members and build cross-functional business relationships and trust among all stakeholders.
  • Ability to manage complex projects and initiatives across multiple compliance reviews and projects concurrently, bringing order to data and information, drawing conclusions, and making appropriate recommendations, along with experience with case management and analytics reporting.
  • High client focus and risk management with a proven ability to build strong cross-functional business relationships, identifying and implementing process enhancements and overseeing the resolution of process deficiencies to drive operational efficiency without compromising compliance requirements.
  • Strong performance orientation with a focus on efficiency and urgency, curious, results-oriented, highly motivated, with a keen ability to influence others, and working knowledge of the Bank's objectives, strategies, and business activities.
  • Previous AML regulatory (FINTRAC) experience is an asset.
Benefits
  • In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed.
  • You'll be part of a diverse, collaborative, innovative, and high-performing team.
  • We offer a competitive rewards package:
  • Performance bonus, Employee Share Ownership Program, and Pension Plan Matching.
  • Health Benefits from day one.
  • You will relish work-life balance, team events, and opportunities to participate in the community.
  • Your career matters You will have access to career development and progression opportunities.
About Us

We are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation 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.

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