Director, Monitoring

Requisition ID: 219011

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Purpose

Primarily to provide an independent, objective risk assessment and evaluation of the effectiveness of the design and operation of controls through testing and monitoring. The position leads, coordinates and oversees the teams responsible for the execution of the Testing & Monitoring Pillars of the Compliance and AML Programs including International Banking, International Wealth Management, and GBM&T (IB Locations), ensuring business strategies, plans and initiatives are executed and delivered in compliance with Testing Standards, Monitoring Standards and Operating Procedures and local regulations.

Accountabilities

• Support the Bank's strategic objectives by working with senior management to support the 'Tone from the Top' (Grow and scale in priority markets, Earn primary client relationship, Make it Easy to do to business with us, Win as One Team) by consistently communicating and reinforcing the message so that the objectives is achieved in a compliant manner.

• Provide independent oversight and effective challenge across International RCM and AML programs for activities which may expose the bank to compliance risks across the 8 pillars, AML Program elements and Enterprise Programs (such as, Conduct and Culture Risk, ABAC and Privacy Risk). Support and inform the CCO and CAMLO opinion on the adequacy of and adherence to and effectiveness of compliance and AML related activities. This includes reporting to management & various committees and acting as delegate to the Director, ICAML Programs Coordinator, as required.

• Accountable for development, overseeing and executing Testing for International Banking, International Wealth Management, and GBM&T (IB Locations), with active participation in the development of Annual and Multi-Annual testing plan and methodologies and procedures; including tracking of testing completion against annual test plan, assessing the design and operating effectiveness of controls in scope, and adherence to Scotiabank standards and Regulatory requirements, in coordination with local compliance heads, Internal Control, Global Operations, and internal audit.

• Accountable for the Compliance Monitoring Annual Plan.

• Identify, assess, communicate, and mitigate Compliance & AML risks, maintain oversight and awareness of applicable regulations, and provide advice and guidance to local Compliance & AML and Internal Control stakeholders, particularly where issues are raised in regulatory and audit reports and oversee corrective measures. The position should identify opportunities for technology and process improvement that could enhance the effectiveness or efficiency of the Compliance & AML programs.

• Participates in an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank's Values while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to regulatory compliance, AML and conduct risks. This includes but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, Charter of the AML/ATF and Sanctions Functions, Enterprise AML/ATF Policy, Privacy Risk Framework, and the Code of Conduct.

• Develop, implement, and maintain applicable global frameworks and standards, policies, procedures, and related documentation relevant to International Compliance & AML.

• Develop strategic relationships and collaborate with Business Line Compliance & AML, Local Compliance & AML, Internal Controls, AML Program Leads, Audit, Corporate Function Compliance, Global Compliance Pillars & Enterprise Programs to ensure Scotiabank Global Compliance & AML has a coordinated, efficient, and effective Compliance & AML Programs.

• Lead and build a high-performance team with objective to and implement a people strategy that attracts, retains, develops, and motivates the team by fostering an inclusive work environment. Apply a coaching mindset and behaviors to communicate vison/values/business strategy and manage succession and development planning for the team. Ensure necessary tools & training are provided for the team to manage their compliance & AML activities.

• Lead and drive a Win as One Team culture throughout the team to deepen relationships and leverage broader Bank relationships, systems, and knowledge. Support to ensure team members maintain a comprehensive understanding and ongoing monitoring of the status of initiatives/project/deliverables within each of their portfolios. This includes participation in working groups and other oversight processes.

• Understands how the Bank's risk appetite should be considered in day-to-day activities, measured, monitored, and reported.

• Support Compliance & AML management to present at various committee meetings, such as Compliance Risk Oversight Committee (CROC) Program Oversight Committee (POC), AML Risk Oversight Committee (AROC), IB AML Program Committee, Operational Risk Committee (ORC) by preparing meeting materials, support an ongoing commitment to continued improvement of KPI's and KRI's and liaising with other international groups in support of the committee's mandate.

Education/Experience

• Post-secondary education with relevant experience in the financial services industry, preferably within a CF, business line, regulatory compliance, operations, technology, audit, or risk management function

• Ability to lead a high performing, flexible team environment across multiple jurisdictions

• Strong knowledge of banking regulations, products & services, technology, and operations with a general understanding of different legal systems applicable to the jurisdictions the Bank operates in.

• Strong analytical and communication skills, and results orientated, and data driven approach in decision making

• Experience with providing insights to and interacting with the CFs/business lines

• Ability to positively influence senior management in order to successfully implement and maintain program

• Experience using analytics to identify areas of risk and opportunities for improvement

• Strong knowledge of Microsoft applications (including Word, Excel, and Power Points) and Power BI.

• Spanish fluency is considered a strong asset.

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.