Job Description
Responsible for maintaining oversight of regulatory compliance through the Compliance Management Framework (CMF) and Corporate Functions Operating Model for Corporate Functions globally. Ensuring compliance with OSFI issued guidelines and any other guidance, regulatory standards or formal notification, industry or self-regulatory organizational codes of conduct that create Regulatory Obligations for the Bank or any of its subsidiaries.
Meet with GRM on an ongoing basis, including meetings with senior executives, attendance at select management committees, and review of relevant reporting.
Monitor and review relevant activities to assess adherence to the Compliance Management Framework (CMF).
Provide advice & counsel, and performs effective challenge over their ongoing adherence to the Compliance Management Framework (CMF).
Reporting to compliance senior management and committees thereof on adherence to the Compliance Management Framework (CMF).
Creates an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Provide independent oversight and effective challenge across CF RCM Program considering the Corporate Function reliance model, for activities which may expose the bank to compliance risks across the 8 pillars, as well as conduct, ABAC and privacy risk. Support and inform the CCO opinion on the adequacy of and adherence to and effectiveness of compliance related activities of the CF RCM program. This includes reporting to management & various committees and acting as delegate, as required.
Identify, assess, communicate, and mitigate Compliance risks, maintain oversight and awareness of applicable regulations, and provide advice and guidance to Retail Credit Risk, particularly where issues are raised in regulatory and audit reports and oversee corrective measures.
Keeps abreast of regulatory and industry developments globally to ensure compliance risks are being properly identified and mitigated. The position should identify opportunities for technology and process improvement that could enhance the effectiveness or efficiency of the Compliance program.
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 risk and conduct risk. This includes but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, Privacy Risk Framework, and the Code of Conduct.
Develop, implement, and maintain applicable global frameworks and standards, policies, procedures and related documentation relevant to CF Compliance across the 8 pillars, with specific responsibility for Governance, Testing, Monitoring, Reporting & Global Regulatory Relations pillars.
Develop strategic relationships and collaborate with GRM as a CF, Global Compliance, Business Line Compliance (CB, GW, GBM&T, and IB Compliance), Local Compliance and Enterprise Compliance Programs to ensure Scotiabank Global Compliance has a coordinated, efficient, and effective Compliance Program.
Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team.
Lead and drive a Winning Team culture throughout the team to deepen relationships and leverage broader Bank relationships, systems, and knowledge. Support to ensure team member 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.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Support Compliance management to present at various committee meetings, such as Compliance Risk Oversight Committee (CROC) 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 CF groups in support of the committee’s mandate.
Participate in planning for GRM annual and multi-year Compliance testing plan in alignment with the Global Compliance Testing Operating Procedure (GCTOP). Testing plan will be executed by Testing team within Compliance.
Lead the Testing and Monitoring pillars of the Compliance Program to provide an independent, objective risk assessment and evaluation of the effectiveness of the design and operation of controls through testing and monitoring. Coordinate and oversee the teams responsible for the execution of the Testing Pillar of the Compliance Program including for Corporate Functions globally, ensuring business strategies, plans and initiatives are executed and delivered in compliance with Testing Standards, Operating Procedures and local regulations
Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
Post-secondary education with relevant experience in the financial services industry, preferably within Global Risk Management Function, business line, regulatory compliance or audit.
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 Point)
Meet with GRM on an ongoing basis, including meetings with senior executives, attendance at select management committees, and review of relevant reporting.
Monitor and review relevant activities to assess adherence to the Compliance Management Framework (CMF).
Provide advice & counsel, and performs effective challenge over their ongoing adherence to the Compliance Management Framework (CMF).
Reporting to compliance senior management and committees thereof on adherence to the Compliance Management Framework (CMF).
Creates an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Provide independent oversight and effective challenge across CF RCM Program considering the Corporate Function reliance model, for activities which may expose the bank to compliance risks across the 8 pillars, as well as conduct, ABAC and privacy risk. Support and inform the CCO opinion on the adequacy of and adherence to and effectiveness of compliance related activities of the CF RCM program. This includes reporting to management & various committees and acting as delegate, as required.
Identify, assess, communicate, and mitigate Compliance risks, maintain oversight and awareness of applicable regulations, and provide advice and guidance to Retail Credit Risk, particularly where issues are raised in regulatory and audit reports and oversee corrective measures.
Keeps abreast of regulatory and industry developments globally to ensure compliance risks are being properly identified and mitigated. The position should identify opportunities for technology and process improvement that could enhance the effectiveness or efficiency of the Compliance program.
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 risk and conduct risk. This includes but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, Privacy Risk Framework, and the Code of Conduct.
Develop, implement, and maintain applicable global frameworks and standards, policies, procedures and related documentation relevant to CF Compliance across the 8 pillars, with specific responsibility for Governance, Testing, Monitoring, Reporting & Global Regulatory Relations pillars.
Develop strategic relationships and collaborate with GRM as a CF, Global Compliance, Business Line Compliance (CB, GW, GBM&T, and IB Compliance), Local Compliance and Enterprise Compliance Programs to ensure Scotiabank Global Compliance has a coordinated, efficient, and effective Compliance Program.
Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team.
Lead and drive a Winning Team culture throughout the team to deepen relationships and leverage broader Bank relationships, systems, and knowledge. Support to ensure team member 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.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Support Compliance management to present at various committee meetings, such as Compliance Risk Oversight Committee (CROC) 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 CF groups in support of the committee’s mandate.
Participate in planning for GRM annual and multi-year Compliance testing plan in alignment with the Global Compliance Testing Operating Procedure (GCTOP). Testing plan will be executed by Testing team within Compliance.
Lead the Testing and Monitoring pillars of the Compliance Program to provide an independent, objective risk assessment and evaluation of the effectiveness of the design and operation of controls through testing and monitoring. Coordinate and oversee the teams responsible for the execution of the Testing Pillar of the Compliance Program including for Corporate Functions globally, ensuring business strategies, plans and initiatives are executed and delivered in compliance with Testing Standards, Operating Procedures and local regulations
Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
Post-secondary education with relevant experience in the financial services industry, preferably within Global Risk Management Function, business line, regulatory compliance or audit.
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 Point)
💡 Quick Summary
Seeking a career-building opportunity? The Director, Corporate Functions Compliance, GRM position is now open for candidates interested in the Operations Executive Jobs sector. This role in Toronto offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Operations Executive Jobs is a plus.