Title:  Senior Manager, Swap Dealer and Derivatives Compliance

Requisition ID: 230322

 Salary Range: 117,400.00 - 224,700.00 

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

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 and regulatory matters relating to the Bank’s Dodd-Frank Title VII obligations and assisting the BNS Swap Dealer, Scotia Capital U.S.A (“SCUSA”) Futures Commission Merchant (“FCM”), and Security-Based Swap Dealer Chief Compliance Officer in:

• the business as usual execution of the CFTC Swap Dealer, SCUSA FCM, and SEC
• Security-Based Swap Dealer (“SBSD”) compliance programs,
• advisory coverage of the global derivatives businesses,
• the implementation of derivatives regulatory change, and
• the remediation of gaps, deficiencies, or required enhancement to existing policies, processes, or procedures

What You’ll Do 

• Provide advice on relevant regulations and internal policies and procedures to internal stakeholders, including trading and sales personnel and key support functions.

• Champion a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

• Provide training and education to make employees aware of their compliance responsibilities, including conducting formal and informal compliance training, creating training and educational materials (memoranda, presentations, bulletins).

• Monitor and identify regulatory, compliance and industry developments through review of publications, participation in industry associations, dialogue with regulators, and interactions with counsel and auditors.

• Evaluate new products, programs, services and business initiatives to ensure compliance issues are identified and addressed and an appropriate Compliance program to support the initiative is implemented.

• Develop or participate in the development of new and enhanced Compliance policies, procedures, manuals and systems as the result of identified deficiencies, new or changed regulations and/or to enhance the overall effectiveness and efficiency of the Compliance function.

• Coordinate with central compliance groups, including Testing and Surveillance, to provide reasonable assurance that the firm is in compliance with applicable regulatory requirements and internal policies and procedures.

• Coordinate with internal stakeholders across the various line of defense with respect to compliance issues associated with derivatives (e.g., Front Office Control, Operations, Information Technology, Legal, etc.).

• Investigate possible instances of non-compliance and escalate to appropriate teams/individuals.

• Assist in responding to regulatory inquiries, audits, examinations and investigations, and liaising with regulators, particularly the U.S. Securities and Exchange Commission (“SEC”), U.S. Commodity Futures Trading Commission (“CFTC”), and National Futures Association (“NFA”).

• Assist in internal investigations, remedial actions, and the preparation of Regulatory Filings (e.g. CCO Annual Report, NFA Risk Data Filings, Quarterly Exposure Reports, Swap Valuation Disputes, NFA Member Questionnaire).

• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

• Champion a high-performance environment and contributes to an inclusive work environment.

What You’ll Bring

• Requires an in-depth knowledge and comprehension of:
  • SEC, CFTC, and NFA swap dealer regulation;
  • 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:
  • analyze regulations and determine the impact to the Bank;
  • identify, research and define compliance requirements and develop appropriate policy/procedural recommendations;
  • clearly and concisely draft internal and external communications, policies and procedures, trainings, bulletins, and other materials;
  • clearly 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.
• **J.D. degree preferred but not required**

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 : 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.