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Title:  Senior Manager, Product Risks




Requisition ID: 83125


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


The Senior Manager, Product Risks, Global Sanctions will be responsible for the supporting existing and emerging banking product initiatives by performing assessment of potential Sanctions risk exposure of the Bank. 
The Senior Manager will also assist in ensuring the business strategies, plans, and initiatives are executed / delivered in compliance with governing sanctions regulations, and Bank-wide policies and procedures. The incumbent is also responsible to deliver effective challenge by the 2nd line of defense across the Bank’s business lines.  


Key Accountabilities:

  • Continuously enhances and develops the New Initiative Risk Assessment and New Initiatives AML and Sanctions Risk Assessment Processes to meet key stakeholder needs and provide on ongoing advice and support to key stakeholders to ensure they are aware of and meet their responsibilities;
  • Guides all business lines in their development of first line of defence Sanctions controls for products, services, and related new initiatives
  • Identifies potential and existing Sanctions risks, collaborating with the First and Second Lines of Defense and proactively managing and escalating the identified risks
  • Identifies and evaluates sanctions compliance requirements for new and existing product types
  • Acts as a subject matter expert for sanctions related risks in new product development initiatives and compliance; 
  • Acts as a liaison other control functions (Payment Screening Solutions, Name Screening, etc.) to ensure all appropriate stakeholders are equipped to manage the change stemming from new products, initiatives, and their sanctions risks 
  • Drives product launches including working with 1st line of defense, executives, and other product management team members  
  • Strong subject matter expertise in sanctions and financial crimes compliance with and emphasis on new product development 
  • Strong product and project management skills including an ability to differentiate between building what is asked for and what is truly needed
  • Effectively manages risks through comprehensive understanding of the customer's business model 
  • Designs all relevant program documentation, content, and processes 
  • Remains up to date on regulatory changes and landscape, best practices and cutting-edge developments in the industry
  • Develop reporting metrics, as necessary, to provide status updates on the development of new initiatives, and associated sanctions risks. .
  • Participates in building tactical road-map and set objectives that align with product launches from a Sanctions risk management perspective
  • Provides support in coordinating/responding for requests for information for Internal Audit and regulators as part of internal and external reviews, audits, and examinations 
  • Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vision/values/business strategy and managing succession and development planning for the team. 
  • Develops training plans for business units and assists in the development and/or presentation of the training as appropriate.
  • Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

Experience / Edcuation:

  • Expert knowledge of the Banks’ business unit functions, procedures, cash management and payment products, capital and financial markets, policies and how the various supporting units interact;
  • Experience working in or with various banking product offerings
  • Strong written and oral skills required to prepare communications and interact effectively with other Bank departments and external parties;
  • Minimum of 5 plus years in financial services operations and Sanctions compliance;
  • Minimum Bachelor’s degree in business, related field or equivalent experience; 
  • Strong managerial, communications, analytical, organizational, project management, and planning skills;
  • Thorough knowledge of related regulatory requirements including Sanctions, KYC, AML, Anti-Terrorist Financing Policies, Compliance Control & Operational Risk Self-Assessments legislation and procedures


Location(s):  Canada : Ontario : Toronto 

As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.


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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