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Senior Manager, AML Risk - Sanctions & Investigations - Toronto, ON

Date: Jan 11, 2019

Location: Toronto, ON, CA

Company: Scotiabank

 

 

Requisition ID: 49959

 

Join the Global Community of Scotiabankers to help customers become better off.

Job Purpose

 

Contributes to the overall success of the AML Risk (second line of defence) team by ensuring specific goals, plans & initiatives relating to the successful implementation and ongoing maintenance of Scotiabank’s Enterprise AML/ATF Program are executed/delivered within timelines, in support of the team’s overall strategies and objectives.

 

Additionally, provides dedicated expert support, advice and counsel in relation to sanctions related issues, investigations and escalations.

 

Ensures all activities conducted are in compliance with applicable governing legislation/regulations, as well as internal policies & procedures

 

Key Accountabilities

 

  • Demonstrate leadership in championing a results-focused culture to deepen and leverage broader relationships (inside and outside Scotiabank), systems and knowledge.
    • Specifically establish, nurture and successfully maintain key relationships with partners in Scotiabank’s Global Sanctions Office, Corporate Security, Fraud and other departments to achieve timely and effective results.
    • Work closely with key partners within 1st and 2nd line AML/ATF and Sanctions, (Global) Compliance and other teams to share best practices, avoid silos, and ensure consistency and alignment to Scotiabank’s Enterprise AML/ATF and Sanctions Framework.

 

  • Maintain deep knowledge & understanding of industry issues and practices, global AML/ATF and Sanctions requirements and associated changes.
    • Specifically act as the team’s designated Sanctions subject matter expert and first point of contact on investigations and escalations, including rush requests (e.g. suspicion of terrorism financing).

 

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

 

  • Participate in developing consolidated, meaningful AML MIS and issue tracking to identify emerging risks and trends, with a view to recommending solutions/enhancements.

 

  • Demonstrate leadership in championing a high-performance environment and implementing a people/HR strategy that attracts, retains, develops and motivates the team by fostering an inclusive work environment, effectively communicating vison/values/strategy and managing succession and development planning for the team.

 

  • Actively pursue effective and efficient operations of his/her respective area(s), while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk (including but not limited to responsibilities under Scotiabank’s Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and Guidelines for Business Conduct).

 

  • Provide effective AML/ATF advice, counsel, challenge & compliance support to assigned Canadian Banking Units from time to time, including:
    • Advising on overall AML/ATF risks (e.g. client, product, sanctions, etc).
    • Ensuring the businesses are kept current on regulatory developments and best practices and processes/controls are updated accordingly.
    • Identifying unacceptable AML/ATF risks and collaborating with the businesses to escalate and/or manage as appropriate.

 

  • Oversee the assigned businesses’ effective execution and maintenance of AML controls, which includes:
    • Monitoring the schedule and results of 1B Quality Assurance processes to identify potential weaknesses/trends
    • Review and approval of auto high risk customers
    • Engaging in all New Initiative Risk Assessments (NIRAs) to ensure adequate controls are in place from an AML/ATF perspective
    • Reviewing customer risk rating methodology

 

  • Provide oversight, guidance and coordination to 1A and 1B (first line) functions within the assigned businesses’ AML Teams.

 

  • Act as a facilitator for policy interpretations and point of escalation for higher-risk client adjudications (per policy), working closely with other AML teams (incl. enhanced due diligence unit) to ensure SLAs are met.

 

  • Liaise with Audit department and Senior Management (as required/appropriate) to support, coordinate and/or oversee resolution of issues raised by field AML/ATF audits.

 

  • Support assigned businesses in their completion of periodic/annual AML self-assessments including:
    • Sourcing data for inclusion in the assessments
    • Ensuring AML risks are properly assessed
    • Obtaining necessary approval(s)

 

  • Support the development and implementation of effective AML/ATF training programs.

 

  • Other projects and/or duties as assigned

 

Functional Competencies 

 

  • Demonstrated integrity when working with colleagues and leading others by setting example of required behaviours.
  • Excellent written and verbal communication skills, able to manage difficult conversations
  • High client focus and high risk management focus.
  • Proven ability to build strong cross-functional business relationships.
  • Proven experience identifying and implementing process enhancements as well as the experience to oversee the resolution of process deficiencies and drive operational efficiency without compromising compliance requirements
  • Results oriented, highly motivated with a keen ability to influence others.
  • Strong communication and relationship management skills.

 

Education/ Experience 

  • Minimum of 5 years of experience in AML, Compliance and/or Audit capacity in matrix financial institution; or its equivalent in education and years of experience
  • Advanced analytical (data/info oriented), problem-solving and critical thinking skills with solid organization and time management skills to deal with complex operational issues in a matrix organization
  • Experience in managing complex projects and initiatives to completion within sometimes tight timelines, across different businesses.
  • Extensive experience with case management and analytics reporting.
  • Strong knowledge of AML/ATF & Sanctions Compliance
  • Strong understanding of Scotiabank’s operations, structure, products and services

Location(s):  Canada : Ontario : Toronto

As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. 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. Candidates selected for an interview will be contacted directly.  If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.


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