Director, Compliance Testing

Requisition ID: 248125

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

Purpose
Leads and oversees the Compliance Testing team for Canadian Banking and Canadian Wealth Management, ensuring business strategies, plans and initiatives are executed and delivered in compliance with Testing Standards, Operating procedures and local regulation

Participates in the Global Annual and multi-year Testing Plan and is responsible for executing the test plan as agreed with the Business Unit Compliance teams. The incumbent ensures that the test plans are executed in compliance with governing regulations, internal policies and procedures and are continually aligned to rapidly evolving industry standards, regulations and trends across our footprint.

Accountabilities

• Accountable for overseeing and executing Testing for Canadian Banking and Canadian Wealth Management, which includes assessing the design and operating effectiveness of controls in scope, and adherence to Scotiabank standards and Regulatory requirements.
• Actively participate in the development of Annual Test plan in coordination with local compliance heads, first line and internal audit, including tracking and reporting of testing completion against annual test plan.
• Responsible for validating actions taken by management to close reported testing issues, to assess the sustainability of these actions for issue closure.
• Leads and drives a customer focused culture throughout the testing teams to partner with Business to manage compliance risk, deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Maintain relationship with the Business Line Compliance heads, Internal Audit and first line to ensure alignment and smooth execution of test plans.
• Identifies, defines, and builds a more risk effective and cost efficient testing program by proving feedback on enhancements to the testing methodology (which includes risk prioritized assessments, testing cycles, reporting results and more), looking for opportunities to automate testing procedures, etc.
• Provides advice and counsel to the business lines with respect to the testing program and procedures.
• Identifies trends and/or gaps and reports findings with recommendations on how to improve the effectiveness of their business line controls.
• Remedies non-compliance and resolves issues raised by testing activities in collaboration with the business, internal audit, first line and business unit compliance.
• Liaises with CB and Wealth management, first line and business unit compliance to implement changes to processes or procedures, as required based on testing results.
• Work with wide range of stakeholders including first line, internal audit and business unit compliance to ensure that testing is executed in a well-coordinate manner.
• Identify opportunities to align and leverage testing across the 3 lines of defence, to minimize the impact on the business.
• Pro-actively identifies potential violations of regulatory requirements, internal policies and procedures, in a timely manner and makes recommendations to mitigate compliance risk.
• Works closely with counterparts in Global Compliance – Central Oversight team and other business line testing teams to ensure consistency and alignment on the testing program and best practices across the organization.
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to regulatory compliance risk, and conduct risk, including but not limited to responsibilities under the Regulatory Compliance Risk Management Framework, and the Guidelines for Business Conduct.
• 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.
• Maintains a view of the changing landscape within the industry and amongst the Bank's regulators and introduces corresponding strategies, recommendations and when necessary, changes to ensure continued alignment of testing to industry standards. Informs and advises Executive Management on an ongoing basis on the impact, risks and opportunities of significant, new and amended regulations, industry developments and best practices.

Education/Experience
Functional competencies

• Deep experience and knowledge of regulatory, compliance and legal requirements; including knowledge of related issues facing the business lines
• 10+ years of relevant industry experience, and professional testing experience
• Post-Secondary Education; CPA or MBA is desirable
• Demonstrated leadership and people management skills and experience with strong coaching skills
• The ability to think strategically about the compliance function; has maintained relevant knowledge with proven success in responding to changing regulatory environment and business needs

Behavioral Competencies

• Strategic, clear and confident communicator; given interactions with Senior Executives and External Stakeholders including Regulators
• Strategic Thinker and good negotiation skills - able to influence at the highest level
• Respected and demonstrated Leader and Coach with proven experience with inspiring and managing dynamic high-performing team(s)
• Has a demonstrated ability to remain calm and focused when faced with competing issues of importance or potential significant legal or regulatory risk

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.