Title:  Director, AML Advisory

Requisition ID: 271696 

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

The Director, AML Advisory is responsible for understanding the AML/ATF and Sanctions risk profile of the Bank and applicable business line(s) and supporting them in the identification and management of AML-related risks (including those relating to products, clients and/or geography). The Director is also responsible for highlighting and escalating elevated or unacceptable risks and guiding the business in the development, implementation and monitoring of first-line AML controls.

Is this role right for you? In this role, you will:

• Implementation and oversight of the Enterprise AML/ATF Program:
• Oversee the implementation of the Enterprise AML/ATF Program across the applicable business line(s) and/or unit(s).
• Assess the effectiveness of first-line AML control execution and governance within the business, considering the structure and content of meetings and the quality and availability of management information and reporting.
• Assess business-generated AML management information to ensure that metrics are appropriate and within tolerance and action plans are in place where necessary.
• Liaise between business line AML personnel and other second-line functions such as Global AML Operations, Global Sanctions & Screening and AML Models & Analytics.
• Assist in overseeing and implementing major initiatives and support global program pillars to advance a global-leading AML program.
• Advisory services to the business line(s) (including branches and/or legal subsidiaries as applicable):
• Provide advisory services and oversight to the business through participation in AML-related forums and timely response to ad hoc queries.
• Provide subject-matter expertise to business and Enterprise project/working groups to contribute to the design and implementation of effective controls that are sustainable, scalable and client-focused. 
• Support annual training needs assessment and the development and implementation of related business line AML training.
• Manage relationships with stakeholders within the business and other functions as necessary and act as the primary point of contact for sharing information between those teams.
• Policy & Procedure guidance:
• Provide expert guidance, advice and counsel to the business in the interpretation and application of regulatory obligations and applicable policies and support the development and implementation of procedures to ensure that these obligations are met. Ensure the regulatory obligations are properly mapped to AML controls.
• Liaise between all three lines of defence to facilitate interpretation, clear understanding and proper implementation of the Bank’s global AML/ATF & Sanctions Policy and related documentation. 
• Client Risk Rating (review execution of methodology and enhanced due diligence where applicable):
• Provide oversight and advice relative to the implementation and ongoing execution of a client risk rating model / methodology to assess client suitability throughout the lifecycle (onboarding, periodic, and de-market where applicable).
• Assess the business’ effectiveness in identifying clients with elevated or unacceptable AML/ATF and Sanctions risks and managing or escalating issues accordingly.
• Ensure that business procedures for the capture and updating of key client data points meet Enterprise and regulatory requirements and that enhanced due diligence is conducted when appropriate.
• Control review and effectiveness assessment:
• Review, assess and advise the business on ML/TF and Sanctions risks and the effectiveness of AML controls associated with new products, services and initiatives, ensuring ongoing involvement in the initiative where the implementation or enhancement of AML controls is required.
• Review and assess ML/TF and Sanctions risks and mitigating controls associated with the onboarding, renewal or material amendment of third-party outsourcing arrangements.
• Identify opportunities to evaluate existing controls and promote a culture of continuous monitoring during the normal course of engagement with business line partners.
• Issues management oversight:
• Provide oversight and consultation to the business in the management of issues (self-identified, 2nd line testing, audit and regulatory) including advising on the development of management action plans and the assessment of remediation activities. 
• Team management and resource prioritization:
• Manage team strategy, workload assignment and priorities ensuring alignment with departmental goals.
• Act as the primary escalation point to ensure pace of execution of the team’s mandate.
• Structure the team and allocate resources appropriately to ensure that the team's mandate as an advisory service to the business is executed effectively and at pace.
• Lead and drive a client-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge, understanding how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Build a high-performance environment and implement a people strategy that attracts, retains, develops and motivates top talent by fostering an inclusive work environment and using a coaching mindset and behaviors; clearly communicating vision/values/business strategy; and managing succession and development planning for the team.
• Create an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to mitigating AML/ATF & Sanctions risks (including operational, compliance, conduct, etc.).
• Support technical excellence by being aware of internal/external best practices, monitoring industry and regulatory developments, sharing knowledge and encouraging others to do the same in the best interests of the team and the Bank.

Do you have the skills that will enable you to succeed? We’d love to work with you if you have experience with:

• Appropriate post-secondary degree with a minimum of 8-10 years of progressive leadership experience in AML, Compliance, Operational Risk Management and/or Audit in a matrixed financial institution (or equivalent education, certification and years of experience).
• Proven ability to manage complex initiatives within tight timelines across different functions and deploy resources in a dynamic and fast-paced environment where priorities can quickly change.
• Proven experience identifying and implementing process enhancements as well as the ability to oversee the resolution of process deficiencies and drive operational efficiency without compromising compliance requirements and/or risk mitigation objectives.
• Strong fundamental understanding of operational risk management concepts and risk & control linkages.
• Proven ability to build talent and provide appropriate levels of support to ensure that Senior Managers and Managers are equipped to assume greater responsibilities and advance their careers within Scotiabank.
• Demonstrated integrity when working with colleagues and leading others by setting example of required behaviors.
• Solid understanding of complex business structures and required personal and entity key data points.
• In-depth understanding of the Bank's organizational structure, operations, policies, products and services.
• Proven ability to build strong cross-functional business relationships, establish credibility and effectively influence and motivate other senior stakeholders across a wide range of strategic initiatives and agendas.
• Efficient and well-organized with sound judgment, high client focus and high-risk management focus.
• Excellent written and verbal communication skills, able to manage difficult conversations, and a proven ability to present to senior executives confidently and effectively.
• Experience operating across multiple jurisdictions & geographical locations; functional fluency in Spanish is considered an asset.

What's in it for you?

• Champion a high-performance environment and contribute to an inclusive work environment.
• The opportunity to join a forward-thinking organization where you are surrounded by a collaborative team of innovative thinkers.
• A competitive compensation and comprehensive benefits plan.
• An organization committed to making a difference in our communities - for you and our customers.
• You can expect to be recognized and rewarded for high-performance; you will be supported by leadership through meaningful development conversations that enable faster advancement and internal training to support your growth and development.

Location(s):  Canada : Ontario : Toronto 

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.