Title:  Senior Manager, Canadian Banking Compliance

Requisition ID: 219831

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

Job Purpose

The Senior Manager, Compliance contributes to the success of the business unit(s) and/or legal entit(y/ies) assigned to them from time to time (the “Assigned Unit(s)”) by ensuring strategies, plans and initiatives are executed/delivered in compliance with governing legislation/regulations, as well as internal policies and procedures.

Among their duties, the incumbent is required to:

• Understand the Compliance profile of the Assigned Unit(s) and help them understand and manage associated risks (e.g. product, customer, geography).
• Identify unacceptable risks and proactively manage/escalate these situations.

• Guide the Assigned Unit(s) in the development, enhancement and/or sustainment of compliant, effective controls.

• Work collaboratively with other departments/teams within Global Compliance and/or Scotiabank as may be necessary to support the Assigned Unit(s).

Key Accountabilities

• Compliance Program Implementation and Oversight
  • Support the implementation of the Enterprise Compliance Program and act as a liaison between the Assigned Unit(s) and the Canadian Banking Compliance teams that support the Assigned Unit(s), which may include:
    • assuring compliance with regulatory requirements such as the Financial Consumer Agency of Canada’s Compliance Framework, Bank Act requirements related to consumer provisions, Canada Deposit Insurance Corporation requirements as applicable to the Assigned Unit(s), and OSFI Guidelines pertaining to the Assigned Unit(s).
  • Critically assess business-generated Compliance management information to ensure that metrics are within tolerance and action plans are in place where appropriate
  • Design and maintain departmental oversight procedures as/when required
• Risk Management and/or Governance Reporting
  • Manage and ensure high quality and comprehensive delivery of Compliance Reports to applicable Committees and Forums, ensuring risks are appropriately escalated and tracked
  • Expertly leverage reporting dashboards and other available data sources to deliver high-level views and detailed drill-down analysis for various groups of internal and external users, including developing briefing notes as required
  • Continuously identify enhancements and improvements to Compliance risk management reporting
  • Coordinate and lead Compliance governance forums, leadership meetings and/or strategy meetings, as/when required
  • Work closely and collaboratively with stakeholders across Global Compliance and 1A/1Bs to deliver high quality reporting outcomes
  • Develop Senior Management/Executive level presentations as/when required
• Issues Management Effective Challenge and Oversight 
  • Support the reporting and management of issues, including market conduct issues under FCAC’s Compliance Framework, relative to the Assigned Unit(s).
  • Provide consultation and challenge to the Assigned Unit(s) in the management of issues from all sources (self-identified, 2nd line testing, audit and regulatory), including advising on the development of management action plans and the assessment of remediation activities 
  • Assist in the documentation of issues and management action plans for controls identified as ‘unsatisfactory’ or ‘needs improvement’ where required.
  • Develop consolidated reporting to identify emerging risks and trends
• Risk Assessment Effective Challenge and Oversight 
  • Provide support and effective challenge to the Assigned Unit(s) through participation in Compliance related risk assessments
  • Contribute towards ongoing risk reviews (e.g. product, occupation list, geographical)
  • Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions and communicate that to assigned business units
• Regulatory Change Management, Effective Challenge and Oversight
  • Provide support and effective challenge to regulatory change implementation within the business line, to support timely implementation and escalation of risks as/when required
• Other Advisory Services to the Business
  • Contribute to control review and effectiveness assessments associated with new products, services and initiatives; participate in the ongoing development of the initiative where implementation or enhancement of Compliance controls are required
  • Provide oversight and coordination to the first-line teams (1A and/or 1B functions) working with the Assigned Unit(s), incl. providing timely and risk-appropriate advice and counsel to the Assigned Unit(s) relating to regulatory compliance/change, products, programs, policies and procedures
    • Support the Assigned Unit(s) in implementing and/or enhancing controls as may be deemed necessary from time to time
  • Support the development and implementation of Compliance training programs
    • Provide and/or support training as may be required on emerging issues, regulatory trends/developments, and industry best practices
• Create an environment in which stakeholders pursue compliant, 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 Compliance risk (incl. conduct risk)
• Lead and manage direct reports (where applicable) to support achievement of business objectives
• 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, exhibiting a coaching mindset and behaviour(s), effectively communicating vision/values/strategy, and managing succession and development planning for the team.  Contribute positively to Global Compliance culture and strategy.
• Other projects and/or duties as may be assigned from time to time.

Functional Competencies:

• Advanced analytical, problem-solving and critical thinking skills with solid organizational and time management capabilities.
• Ability to prioritize activities to be able to effectively react to a rapidly evolving environment.
• Demonstrated integrity when working with colleagues and leading others by setting example of required behaviours.
• Excellent written and verbal communication skills, team leadership and relationship management skills.
• Ability to lead, motivate and influence senior stakeholders across a wide range of strategic initiatives and agendas.
• 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.
• Excellent written and verbal communication skills and a proven ability to present to senior executives confidently and effectively.

Education/Work Experience:

• Post-secondary education with a minimum of 8 years of relevant experience in the financial services industry, preferably within a business line, regulatory compliance, operations, audit or risk management function.

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.