Title:  Managing Director & Chief Legal Officer, U.S.

Requisition ID: 244219

 Salary Range: 254,600.00 - 423,400.00 

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.

Managing Director, Chief Legal Officer, U.S. Global Banking & Markets

Purpose

The Chief Legal Officer, U.S. takes the lead to set standards for excellence in legal standards and governance to support the U.S. operation’s ability to help optimize long term Bank shareholder value. Responsibilities include the (i) provision of high quality legal advice and counsel to the U.S. Co CEO’s and the Board of Directors of Scotia Holdings USA (SHUSA), with respect to all U.S. business, corporate activities and transactions to help ensure enterprise-wide results are met in accordance with regulatory and legislative requirements and Scotiabank’s overall corporate governance, (ii) advising on business strategies, plans, initiatives and emerging regulations and trends for compliance with governing regulations, internal policies and procedures and (iii) managing litigation, investigations and employment disputes involving the U.S. operations.

Accountabilities

1. As a member of the U.S. Senior Executive Team, contributes to setting the strategic direction for the Bank’s U.S. operations. This includes:

• • reviewing strategic initiatives for alignment with regulatory and legislative requirements
  • contributing to setting internal standards for business conduct in U.S. business lines/divisions
  • reviewing matters relating to reputational risk for the Bank’s U.S. operations
  • effectively managing risk within the function, including managing litigation and pre-litigation disputes impacting US businesses and provide advice relating to risks relating to such litigation and disputes
  • ensuring effective management and, where necessary, mitigation of material legal risk exposures, in particular those that exceed or have the potential to exceed the applicable approved risk appetite and/or risk appetite limits
  • providing leadership in communicating within the function risk appetite so as to help embed appropriate risk taking into the Bank’s culture, and
  • escalating breaches in risk appetite and material risk exposure in a timely manner
  • assisting BNS Executive Office Legal to manage US governed lawsuits pertaining to the parent or affiliates, as requested from time to time

2. Acts as the US Operations’ general counsel to the U.S. Board of Directors
3. Provides proactive strategic business partnering, advice and counsel to the U.S Executive Leadership team (Exco) including the U.S Co CEO’s on all legal matters (transactional or regulatory) including:

• • managing and resolving identified legal, statutory, contractual issues and concerns
  • providing legal advice to support compliance with relevant acts, government policies, corporate policies and procedures, and all other contractual obligations
  • overseeing the provision of legal advice to the Bank’s US operations on financial transactions, from initial stages of development to negotiation, interpretation, and drafting of all documentation with a focus of identifying and mitigating the Bank’s U.S. operations risks and legal obligations
  • enhancing the Bank’s U.S. operations’ external relationships with stakeholders, government officials, regulators, business and professional groups

4. Provides directly, or oversee the indirect provision of legal services to senior management, Human Resources, supervisory officers, line management and their respective direct and indirect reports.

5. Builds a high performance environment and implement a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment, communicating vision/values/department strategy and proactively planning for, and managing, succession and development planning for the team.

6. Provides strong leadership and guidance to subordinates with regard to strategic, policy and operational issues, while providing them with the opportunity to perform their responsibilities on a day to day basis without specific oversight.

7. Ensure timely action is taken to effectively manage and mitigate risks, including prompt escalation of breaches of management limits or risk appetite measures as per established processes.

8. Serve as a member of the U.S. Executive Committee, U.S. Issues & Regulatory Oversight Committee, and U.S. Local Conduct Committee and act in furtherance of the goals and decisions of the U.S. Executive Committee’s goals and objectives.

Dimensions

• Approximately twenty-five total reports
• Responsible for providing Legal support to U.S. GBM operations, and corporate secretarial support to U.S. Holding Company and affiliates and senior management committees
• The legal assignments and supervision cover a broad range of Bank’s U.S. operations related matters or specialized areas of law. The applicable laws and regulations are numerous, varied and complex.
• Responsible for supporting regulatory relationships with Federal Reserve, SEC, CFTC, NYS DFS and other regulatory bodies responsible for supervising Bank’s U.S. operations
• The incumbent is required to:

• • Demonstrate excellent management, relationship building and communication skills
  • Work confidently with senior management and provide advice and counsel on a broad range of legal issues
  • Provide leadership and direction to the US legal team
  • Obtain consensus support for initiatives and achieve successful outcomes
  • Recruit, motivate and retain team members
  • Develop and mentor team members

Education / Experience / Other Information

• At least 15 years of in-house legal or law firm experience in the financial services industry with capital markets, regulatory and banking experience.
• Experience in corporate lending and capital markets transactional matters
• Ideally, experience working for a non-U.S. bank and the ability to function effectively in a matrixed management environment.
• Experience dealing with banking and securities regulators, especially the Federal Reserve, NYS DFS, CFTC, and SEC.
• Knowledgeable on federal regulations impacting wholesale banking and capital markets operations, including Title VII of the Dodd Frank Act, the Volcker Rule, Regulation D, Regulation W and Regulation YY.
• Experience in managing litigation disputes, including employment matters.
• Excellent communicator in both the written and oral form. Understands how to approach communication from a strategic perspective. Ability to create clear, convincing and well organized presentations and communications.
• J.D. degree required

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

Scotiabank is an equal opportunity employer.  We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by federal, state, or local law.