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Title:  Manager, AML & Regulatory, ScotiaMcLeod - Toronto, ON

 

Requisition ID: 132490

As a cornerstone business within Scotia Wealth Management®, ScotiaMcLeod has earned a reputation for integrity based on service excellence and trusted investment advice. Our advisors and teams pride themselves on exploring innovative approaches to protecting and growing their clients' assets. 

When you join ScotiaMcLeod, you’ll be empowered to deliver Enriched Thinking®, a unique approach that incorporates your client’s thinking, as well as our thinking, to drive results. You’ll work with a team of specialists to deliver a client-centric approach to wealth management, enabling you to consider all the facets of your client’s life, family and business. With a focus on total wealth planning, and wealth specialists to help you deliver on this unique value proposition, you’ll be enabling clients to see not just the big picture, but all the little ones too.

 

 

 

 

As the Manager, AML & Regulatory, you are responsible for contributing to the overall success of the National Supervision Group, ScotiaMcLeod, Global Wealth Management in Canada. You support the Senior Manager, AML and Regulatory for all regulatory related issues and implementation of AML Initiatives within the business and are expected to execute the role with curiosity and a proactive approach to ensure AML initiatives are executed / delivered in support of the team’s business strategies and objectives and all activities are conducted in compliance with governing regulations, internal policies, and procedures. You are the subject matter expert and point of contact in the day-to-day management of ScotiaMcLeod’s Anti-Money Laundering and Sanctions program. ScotiaMcLeod includes the Domestic and International Investment Advisory (IIA) business lines.

 

Accountabilities 


1. Support the Senior Manager, AML and Regulatory in the day-to-day processes by:

  • Monitoring and managing the e-mail intake box specific to AML for National Supervision.
  • Remediating Audit and Global Testing findings on targeted accounts, including the development of action plans and implementation of policy and procedures to close identified gaps.
  • Participating in initiatives to de-market clients that pose an unacceptable AML or sanctions risk to The Bank including correspondence, follow-up account closing, and tracking.
  • Liaising with the EDDU to assist in bringing Requests for Information to a resolution and arranging for closing of dormant accounts.
  • Managing the process to ensure the accounts of High Risk and Politically Exposed Persons and Entities are coded appropriately on Broadridge.
  • Managing and monitoring the exception reports related to client relationships that are approved for onboarding or retention with conditions along with escalation and remediation of incidents.
  • Conducting account reviews and creating summary finding reports for client accounts when unusual activity is triggered during business-as-usual activities or escalated by someone on the National Supervision team. 
  • Promptly submitting UTRs when a client’s expected behavior is deemed to be unusual or suspicious or when ScotiaMcLeod voluntarily determines to de-risk a business relationship for AML purposes.
  • Acting as an AML resource to ScotiaMcLeod branches and operations staff, providing expert guidance and excellent support with respect to AML Policies and Procedures. 
  • Maintaining current and accurate process tracking sheets.
  • Participating in the preparation of Bulletins communicated to ScotiaMcLeod Staff that relate to the AML and Sanctions policies and procedures for the business line. 
  • Participating in business improvement projects.
  • Reviewing processes and ensuring controls and oversight mechanisms are in place to minimize ScotiaMcLeod’s AML and Sanctions risk.
  • Identifying potential efficiency opportunities or enhancements and providing suggestions to the Senior Manager.
  • Encouraging new ideas and approaches to current processes.
  • Facilitating a culture of open and honest communication.

 

2. Support the Senior Manager, AML and Regulatory in the development, implementation and refinement of AML / ATF / Sanctions policies and procedures for ScotiaMcLeod by:

  • Acting as a key driver and leader for initiatives that may be assigned. 
  • Working with partner groups within the Bank (AML Wealth Management, EDDU) to adapt and implement AML/Sanctions Enterprise-Wide policies for ScotiaMcLeod.
  • Acting as a key contributor to the ScotiaMcLeod AML and Sanctions Handbook content and updates.
  • Acting as a key contributor to the Standard Operating Procedures content and updates.
  • Providing input regarding the effectiveness of existing policies/procedures, and/or recommendations for changes / improvements, taking into consideration ongoing regulatory developments. 
  • Maintaining an awareness of legislative and regulatory initiatives, emerging trends and industry best practices and their potential impact on existing policies and procedures.
  • Escalating any AML issues within ScotiaMcLeod (e.g., Compliance, Operational Risk, EDDU, GAMLU) to the Senior Manager, as appropriate.
  • Through the AML function and activities, reduce the risk of financial loss, damage to reputation, regulatory sanction and litigation, fines, and penalties for ScotiaMcLeod.
  • Understanding how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions as it pertains to ScotiaMcLeod.
  • Actively pursuing effective and efficient operations in accordance with Scotiabank’s Values, its Code of Conduct 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. 
  • Championing a high-performance environment and contributes to an inclusive work environment. 
  • Championing a client focused culture to deepen client relationships and leverage broader Bank & Wealth relationships, systems, and knowledge.

 

Functional competencies:


•     A minimum of 2 years’ experience working in an AML or regulatory capacity or in a securities sector setting within a financial institution.

•    Proven skills in risk assessment and management relating to AML / ATF, Sanctions matters.

•    Solid understanding of the financial services industry with an emphasis on the securities sector. 

•    Understanding of products and services provided by ScotiaMcLeod.

•    A working knowledge of Broadridge, Score and WealthNet

•    Proficient use of Word, Excel, and Power Point.
•   Highly motivated, innovative, and results-oriented individual with excellent analytical, written and communication skills, and strong risk management skills. 
•    Excellent written and verbal communication skills and ability to manage difficult conversations.
•    Strong organizational and time management skills to deal with pressing priorities deliverables and timelines. 
•    Strong analytical, critical thinking, and interpersonal skills.

•    The ability to work independently and within a team environment.
 

 

Education:

•    CAMS or CFCS certification required
•    Canadian Securities Course Preferred

 

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.


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