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Purpose
This position supports the Manager, Regulatory Change Management & Compliance Projects APAC within APAC Central Compliance, and APAC Compliance in delivering the compliance program for the GBM&T businesses in Asia Pacific in order to provide reasonable assurance for the following core Central Compliance responsibilities:
- Undertake coordination for the Regulatory Library Management remediation project for APAC Compliance.
- Assist with the quarterly Compliance Risk Assessment process, and regulatory change management projects and reporting.
- Coordinate the implementation of regional Compliance projects.
- Provide quality assurance on work produced by APAC Compliance.
This position contributes to the overall success of the APAC Compliance and the GBM&T businesses in Asia Pacific ensuring specific individual goals, plans, and initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.
Accountabilities
- Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Actively pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
- Champions a high-performance environment and contributes to an inclusive work environment.
- Keep abreast of Asian legislation and regulatory developments and assist with the preparation of regulatory change reports to keep management up-to-date on relevant regulatory developments.
- As part of APAC Central Compliance team, the incumbent will assist in the coordination, implementation and monitoring of the Regulatory Library Remediation project, quarterly Compliance Risk Assessments, and Regulatory Change Management projects in Asia Pacific, including providing input with regard to policies and procedures for implementation within APAC as a result of regulatory developments and perform regulatory gap analysis.
- Assist the Manager, Regulatory Change Management & Compliance Projects APAC in BAU management of the APAC Regulatory Change Management Framework in, including providing internal training and attending to queries of APAC Compliance teams with regard to the framework.
- Maintain and coordinate internal reporting workflows and standards, including but not limited to:
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- APAC Regulatory Change Management system weekly updates.
- Management reporting to regional and global office and governance committees.
- Act as the main coordinator for the Business-As-Usual maintenance of regulatory libraries for APAC Compliance teams (Australia, China, Hong Kong, Japan, and Singapore) and categorization of the regulatory obligations in accordance with Global Compliance taxonomies to ensure that regulatory libraries are updated promptly in line with the global iRCM standards, and all regulatory obligations in a Regulation are categorized, assigned to an Assessable Unit (AU) and associated with a control in collaboration with the 1st Line, or other relevant stakeholders (e.g. Corporate Functions).
- Coordinate for iRCM project implementation and work closely with the global iRCM team, Internal Control, or other relevant functions on rule interpretation and mapping of Business/Compliance controls with respect to the regulatory obligations arising from the APAC countries.
- Assist local Country Compliance teams to conduct 2nd Line effective challenge with respect to Compliance Risk and Control Assessments (CRCA) on a quarterly basis.
- Support APAC Central Compliance in various global GBM&T Compliance workstreams such as regulatory libraries and AUAC alignment, CRCA methodology updates, Issues Management (GIMS) reporting, etc.
- Handle the APAC Central Compliance Department’s incoming correspondence and file appropriately.
- Assist the Director, Head of Central Compliance, APAC, and VP, Head of Compliance, Asia Pacific as well as business senior management with ad hoc tasks and projects.
- Arrange meetings and undertake other organizational tasks as necessary.
- Be an active part of the APAC Central Compliance team and undertake tasks as assigned from time to time in agreement with the Senior Manager, Regulatory Change Management & Compliance Projects APAC.
- Attention to detail and high quality oral and written communication skills are essential attributes. The incumbent will be expected to be able to discuss issues with business senior management and liaise with the Head Office in a clear and credible manner.
- Conduct a consistent Quality Check on OpenPages for the regulatory development submissions for APAC Compliance to ensure the data is inputted appropriately.
- Assist local APAC Compliance teams in completion of the CCO Quarterly Reporting with regards to the information related to the APAC Regulatory Chang Management System, Regulatory Library Management, and CRCA projects.
Experience/Other Information
- Post-secondary education
- 2+ years of relevant compliance experience in a financial institution or a management consultant firm
- Knowledge of the regulatory landscape and developments across major Asia jurisdiction (e.g. Australia, China, Hong Kong, India, Japan, and Singapore) is preferred
- Understanding of the financial services sector, including banking, sales, trading and capital markets products is preferred
- Strong time management, analytical and communication skills, with attention to detail
- Strong problem-solving and analytical skills
- Strong communication and presentation skills
- Able to balance multiple projects and competing priorities
- Able to work in a fast-paced environment
- Must be a results-oriented and highly motivated individual
- Ability to work creatively and analytically in a problem-solving environment
- High competence in developing presentations required (MS Office Word, Excel and PowerPoint)
- Flexibility to balance multiple accountabilities and competing priorities, against tight deadlines, whether working alone or as part of a cross functional team
- Deals with a variety of issues and a high volume of work, working within internal and/or external processes.
- Excellent verbal and written English skills.
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