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Title:  Senior Manager, Swap Dealer Compliance Testing & Monitoring




Requisition ID: 150951

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


This individual must contribute to the overall success of the Compliance Department by ensuring specific individual goals, plans, and initiatives are executed and delivered in support of the Swap Dealer Compliance team’s business strategies and objectives. This individual must ensure all activities are conducted in compliance with governing regulations, internal policies, and procedures.


This individual will be responsible for compliance testing relating to the Bank’s Dodd-Frank Title VII regulatory requirements covering BNS Swap Dealer and Security-Based Swap Dealer, and Futures Commission Merchants regulations




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




  • Manage and support Swap Dealer and Derivatives Compliance Testing and Monitoring based upon the regulatory requirements, policies, procedures, processes, to assess controls within the first and second lines of defense.
  • Understand the applicable regulatory requirements to ensure testing is adequately designed to identify potential control gaps and non-compliance with laws and regulations.
  • Lead Testing reviews through the scoping, test plans development, fieldwork and reporting phases.
  • Escalate potential issues and exception items noted during the review process to senior management.
  • Ensure that the stakeholders respond with appropriate action to address all draft recommendations and deficiencies noted during the fieldwork process.
  • Perform required administrative responsibilities in support of testing, including but not limited to:
    • Preparing and entering all issues and observations into central repository.
    • Prepare and distribute testing reports to senior management detailing review findings and recommendations.
    • Prepare Workpapers documenting testing with enough detail that a third party can reasonably understand.
    • Provide assistance with the Team’s collective issues management and validation testing efforts. 
    • Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
    • Lead and manage Central or Regional Compliance Testing Officers and be the subject matter expert for the execution of corresponding Swap Dealer testing reviews.
  • Review and provide feedback on materials completed by Central or Regional Compliance Testing Officers throughout all stages of testing engagements before the final draft of supporting materials and testing report gets submitted to Swap Dealer CCO and Global Head of Compliance Testing. 
  • Support team in responding to regulatory inquiries, initiatives, audits and examinations.




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




  • A minimum of 10 years of compliance, audit or regulatory exam support experience with at least 5 years of which should involve testing or audit.
  • Requires an in-depth knowledge and comprehension of:
    • SEC, CFTC, and NFA swap dealer regulations;
    • regulatory, compliance and legal requirements, related industry practices, and common issues in the OTC derivatives and swap dealer industries gained through relevant industry and professional experience and education; and
    • swap dealer business activities, operations, policies, procedures and systems.
  • This knowledge must be supplemented with a well-developed ability to:
    • Manage multiple compliance reviews and projects, and meet deadlines;
    • identify issues and communicate recommendations in order to provide senior management with a sound basis on which informed decisions can be made; and
    • interact with impacted personnel effectively, providing them with the information they require completely, promptly and accurately and in a manner that will enable them to accomplish their business goals and still protect the Firm.
  • College Degree or international equivalent 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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