Title:  Director, Internal Control - Global GBM Regulatory Controls

Requisition ID: 197516

 Salary Range: 174,700.00 - 286,000.00 

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

Global Banking and Markets:

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. 

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.  

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future! 

Purpose:

Leads and oversees a team within GBM Internal Control that plays an integral role in the effective design and execution of Regulatory Controls. 

Provides strategic direction, leadership and oversight on all matters pertaining to Regulatory Controls as they manifest across the client onboarding process. Provides oversight over related policies, procedures and processes with a focus on the integrity and utilization of Client, Account, Tax, Reference, Pre-trade and Market data.

Provides oversight and leadership over change management activities related to regulatory reporting and other OTC-related regulatory requirements within Global Banking and Markets (GBM) and Group Treasury (GT) to ensure that Regulatory Trade Reporting and other activities are appropriately monitored and governed in accordance with regulatory expectations. Among other things, this role ensures Scotiabank has an integrated view of its regulatory reporting, stretching from data acquisition through to reporting technologies. The role is critical to drawing insights from Scotiabank reporting to denote potential issues and where inconsistencies may exist.  This includes tracking of issues associated with reporting and assessing the ongoing state of the reporting infrastructure.

The Regulatory Controls and Advisory team acts as control and implementation subject matters experts.  The Director will coordinate heavily with stakeholders, including Compliance, Operations, Internal Control, Client Onboarding, Global Regulatory and Compliance Technology and the Business, when applicable, to ensure that appropriate information is shared and responsibilities are performed by the parties affected.  The Director will also act as a decision maker for significant changes, identifying risks and requirements to ensure the ongoing efficacy of various regulatory controls. 

The Team provides consistent monitoring and governance for regulatory regimes that rely upon a common data set,  Commodities Futures Trading Commission (CFTC), Ontario Securities Commission (OSC), Nova Scotia Securities Commission (NSSC), European Securities and Markets Authority (ESMA), Financial Conduct Authority (FCA), Hong Kong Monetary Authority (HKMA), Securities and Futures Commission of Hong Kong (SFC), Monetary Authority of Singapore (MAS), Australian Securities and Investments Commission (ASIC). 
 

What You’ll Do:

• Provides leadership over the development and execution of regulatory controls across the client onboarding process
• Serve as an escalation point for global stakeholders and any third-parties relative to our regulatory control environment
• Provides oversight across OTC derivatives-related matters on a Global basis with particular focus on CFTC requirements.
• Leads / Chairs governance forums and management meetings relevant to the book of work
• Provides representation in industry associations and/or working groups related to regulatory and market infrastructure initiatives to ensure industry best practices are informing our controls.
• Monitors the effective execution of related monitoring controls.
• Tracking impact and deliverables of projects where the team is key stakeholder (or project owner) and provide subject matter expertise and leadership. Lead minor projects in relation to regulatory controls or otherwise as agreed within first line of defense.
• Accountable for monitoring and escalating metrics that indicate the completeness, accuracy and timeliness of reporting.
• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge. Development and maintenance of collaborative relationships with the key clients, stakeholders and partners of GBM.
• Coordinate GBM-related responses to queries from Compliance in response to outreach from Regulators.
• Manage delivery of any action items / findings arising from various senior committees, Audit, and/or Compliance Testing.
• 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 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. 
• 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.
   

What You’ll Bring:

• In-depth knowledge of OTC derivatives and derivatives reporting regulations, regulatory compliance, corporate & investment banking, securities & derivatives trading businesses, Onboarding and Regulatory and Non-regulatory data and architecture
• Business/Finance/Economics degree or equivalent
• Post-graduate educational achievement preferred, e.g. MBA, CFA, CA, LLB
• Minimum of 10 years of Capital Markets experience plus other relevant experience
• Previous experience in project management and regulatory reform initiatives in a Banking Entity
• Understanding of regulatory governance and the three lines of defense model
• Experience with core responsibilities in the first line of defense, and ideally, the 1B space
• Excellent judgment and business acumen, particularly around escalation and prioritization
• Expert analytic and problem solving capability
• Exceptional presentation and written communications skills
• Strong influencing skills
• Ability to work well under pressure
• Proven track record of meeting deliverables and managing within budgets
• Proficient in basic Microsoft suite
• This role requires successful completion of the NFA Swaps Proficiency Requirements within 90 days of assuming the role.

Interested?

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture. 

What's in it for you? 

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs. 

Location(s):  United States : New York : New York City

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.