Title:  Director, OFAC Advisory

Requisition ID: 208494

 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

The incumbent will lead and oversee the Global Sanctions Advisory team, and ensure applicable policies, procedures, standards, trainings, and governance functions are adequately followed and maintained in accordance with applicable governing laws, regulations, the Bank’s enterprise-wide policies, and procedures.

What You’ll Do 

The incumbent is responsible for leading and overseeing the Global Sanctions Advisory functions, which include:

• Managing a team of Managers and Senior Managers that is responsible for the enterprise wide review of clients with sanctions exposure or that otherwise present sanctions risk to the Bank
• Ensuring that all advisory activities and other escalations, such as deal reviews and name screening escalations, and transactional reviews (e.g. securities escalations and trade finance transactions) are conducted appropriately and in line with legal and regulatory requirements, all relevant filings and reports are submitted in a timely manner, and appropriate reporting is conducted to the Deputy Global Head of Sanctions
• Acting as a critical subject-matter-expert providing advice on sanctions topics to all business lines, including GBM Onboarding, Internal Controls, Global AML Operations, Compliance & AML 2nd line, as well as groups within Global Sanctions & Screening, including Program Risk, List Management, Payment Screening, and Name Screening
• Escalate high-risk clients to relevant review committees and present on sanctions risk to Bank;
• Provide updates on sanctions regulatory changes, emerging risks and program updates to multiple management committees
• Developing working relationships with business lines and other key groups across business lines, including Internal Controls, Compliance & AML 2nd line, GBM Onboarding, Global AML Operations, Internal Audit,  and others
• Serving as a key liaison between Global Sanctions and other Bank functions on matters of cross-functional relevance including information security and cyber, fraud, etc.
• Understanding how the Bank’s risk appetite and risk culture should be applied in day-to-day operations and decisions
• Creating an environment in which his or her team pursues operational efficiency, while ensuring the adherence to adequate controls and standards
• Building a high performance environment and implementing an adequate human resources strategy that attracts, retains, develops and motivates the team members by fostering an inclusive work environment

Leadership:

• Establishing a high performance environment that reinforces both individual accountability and strong inter- group cooperation.
• Implementing a resource strategy to attract, retain, develop and motivate staff, including managing staff succession and development planning.
• Fostering an inclusive work environment that reinforces mutual respect and collaboration between all team members, while taking into account individual differences and working styles.
• Communicating a clear vision and business strategy that includes clearly established roles and responsibilities.
• Ensuring that management expectations, including accountabilities, objectives, and both team and individual goals are effectively communicated and monitored for all direct reports.
• Establishing and implementing an ongoing coaching approach with direct reports.
• Empowering all team members to develop creative and strategic solutions, including streamlining processes and planning initiatives, where appropriate.
• Driving collaboration and efficiency across multiple teams globally in connection with the range of program execution and oversight tasks associated with financial crimes and sanctions.
• Building strong partnerships with First Line business and Control Functions and other key stakeholders in connection with the Bank’s AML Risk Program, and working collaboratively across functional teams to resolve open issues in a timely and effective manner.

What You’ll Bring 

• Minimum Bachelor’s degree in business or related field, JD preferred;
• Minimum of 7 years in sanctions compliance related functions in financial services or a comparable government agency;
• Must have in-depth knowledge of U.S. and Canada sanctions regulatory requirements;
• Experience identifying, assessing, and providing advice on sanctions matters;
• Strong communication, analytical, organizational, project management, and planning skills;
• Advanced skills in Microsoft Office suite, including Excel, Access, Visio, Project, and PowerPoint; and
• Knowledge of business, products, operations, systems, and organization for financial services sector.

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.