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Title:  Director, Bank Holding Company Compliance

 

 

 

Requisition ID: 152011

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

 

The objective of this position is to serve as key function/business/investment compliance risk manager responsible for overseeing and executing critical responsibilities around Scotiabank’s U.S. Bank Holding Company Act (“BHC Act”) compliance policy and procedures.  This includes, among other responsibilities, ensuring that Scotiabank’s banking and nonbanking activities and investments, on a global basis, comply with the BHC Act, as implemented by the U.S. Board of Governors of the Federal Reserve System in Regulation Y and Regulation K.

 

 

 

 

Is this role right for you? You will be responsible for:

 

 

 

  • Review and confirm relevant banking and nonbanking activities and investments by Scotiabank and its subsidiaries for compliance under the BHC Act.   Review may be performed in conjunction with U.S. Legal staff.  Investment information is provided to U.S. Legal and U.S. Compliance for review, assessment and confirmation prior to any Scotiabank business unit potentially acquiring or divesting any shares or other interests in any company, directly or indirectly through one or more subsidiaries, engaged in business or activities in the United States. This will include but may not be limited to:
    • Reviewing investment information and supporting documentation for completeness and performing related due diligence as may be necessary. 
    • Directly interfacing with the checklist owner (business line) and other relevant stakeholders including other financial intermediaries and security issuers/underwriters 
  • In conjunction with U.S. Legal, advise business units regarding Bank’s BHC Act Policy and related requirements.
  • Develop a central database for investments reviewed under the BHC Act, including supporting information and assessment materials. Database will be a repository for investment information provided by Frist Line, including supporting documentation and assessment content.  This will include but may not be limited to:
    • Maintaining copies of each BHC Act Investment information provided by business units
    • Maintaining copies of supporting documentation provided by the business units
    • Maintaining copies of assessment documents
  • Develop and coordinate BHC Act enterprise-wide training for business lines and support functions.
  • Assist the First Line, Data Governance, Information Technology and Global Compliance in developing an enterprise-wide securities ownership and control aggregation management and reporting resource to support BHC Act investment analysis and assessment and as potentially a resource for FR Y-7 and FR Y-10 reporting.
  • Assist the First Line, Data Governance, Information Technology and Global Compliance in developing an enterprise-wide securities ownership and control aggregation methodology, procedures and reporting.
  • Manage and respond to relevant Audit, Compliance Testing, and regulatory examination findings and self-identified issues to ensure appropriate action plans are put in place to address BHC Act related issues as well as act to close or assist in closing findings.
  • Provide ongoing reporting on the status of the BHC Act Compliance Program, including reporting to senior management and governance committees and boards.
  • Draft and update policies and procedures related to BHC Act Compliance.  
  • Other duties and projects as may be assigned.

 

 

 


Do you have the skills you need to succeed? We'd love to work with you, if you have:
 

 

 

  • A minimum of 7-10 years of legal or compliance experience, including significant experience with bank regulatory and supervisory compliance.
  • Significant subject matter expertise on the U.S. Bank Holding Company Act (BHC Act), its application and related Industry standards for compliance.  Specifically, an understanding of permissible and reportable banking and non-banking activities under the BHC Act.
  • Ability to operate with minimal direction, set goals and manage priorities.
  • Relevant compliance experience, including policies and procedures development, the provision of compliance training, compliance risk assessments, responding to regulatory inquiries, etc.
  • Experience in interfacing with regulators.
  • Experience operating and coordinating programs across large matrixed organizations.  
  • Strong organizational, communication (oral and written), and interpersonal skills required.
  • Strong leadership skills and demonstrable experience and success in working in high-performance teams.
  • Post graduate degree (J.D. or MBA) preferred but not required.
  • College Degree required.

 

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.


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