Title:  Senior Manager, U.S. Sanctions

Requisition ID: 256369 

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

The incumbent is responsible for managing the Scotiabank U.S. ("SBUS") Sanctions Program, in accordance with internal policies/procedures and regulatory requirements. The incumbent is also responsible for identifying new and revised statutes and regulations, as well as identifying emerging risks that could impact SBUS.

The incumbent must have knowledge related to GBM business risks, due diligence, OFAC screening, expertise in technology solutions and platforms. The incumbent is also responsible for contributing to strategy, direction, and reduction of risk, and promotion of operational efficiency

What You'll Do
 

• Ensure U.S. supervision of sanctions related processes with respect to payments and customer onboarding

• Based on leading industry practices and regulatory expectations, manage ongoing enhancements to the Bank's sanctions program.

• Development, maintenance, and periodic review of U.S. sanctions policies and procedures.

• Monitor the regulatory environment for emerging sanctions-related developments along with trends and industry best practices relating to OFAC compliance

• Communicate regulatory sanctions updates to U.S. Legal & Compliance Management and relevant business lines

• Develop close working relationship with U.S. business lines and other key groups, including U.S. Onboarding, Global AML, and Operations

• Work closely with internal teams and outside consultants, as appropriate, on OFAC systems-related projects and reviews

• Collaborating with internal teams and outside consultants on sanctions systems related projects and reviews

• Work with BSA/AML Officer to ensure appropriate oversight of outsourced functions supporting the U.S. sanctions program

• Develop and maintain metrics for monitoring the effectiveness of the U.S. sanctions program

• Participate in Enterprise-wide sanctions program related projects, including risk assessments

• Manage the process of reviewing, researching, analyzing, and documenting complex and sensitive sanctions hits escalated by AML Operations and communicate with internal and external parties as needed

• Liaise with U.S. Financial Intelligence Unit (FIU), Global AML, Head Office, business, legal and operations teams on sanctions related investigations in the U.S.

• Review and ensure OFAC Block and Reject reports are submitted timely and accurately in accordance with OFAC regulatory requirements

• Serve as the key interlocutor with OFAC on any subpoenas, voluntary self-disclosures, licenses, or other communications

• Support Compliance testing program with respect to testing of the sanctions filtering process, system performance, and resolutions performed by the relevant business areas

• Work closely with internal audit to ensure a strong SBUS OFAC compliance program, engaging to provide updates on any identified issues and implement solutions and remediation

• Identify key issues in relation economic sanctions and provide understanding of the applicability of major compliance issues to management and staff

• Assist with preparation of the annual U.S. sanctions risk assessment ensuring that the methodology and the reporting of results are relevant and in line with regulatory expectations

• Provide subject matter expertise to the U.S. FIU on sanctions related matters

• Oversight of periodic OFAC/sanctions training for relevant U.S. staff

• Proactively identify areas and issues that may pose sanctions risks to the Bank

• Balance day-to-day functions of the team with strategic initiatives and long-term projects

• Ensure adequate process for the retention of documentation for screening outcomes, cases, investigation and escalation records

What You'll Bring

• BA/BS

• 7 years of Banking and Compliance experience

• Extensive knowledge of sanctions regulations and

• Experience with sanctions filtering systems, including tuning and testing

• Understanding of payment methods and formats and related compliance requirements

Interested? 

If your experience is closely related but doesn’t align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank! 

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 : Texas : Dallas 

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.