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Title:  Vice President and Global Head, Global Payments, Financial Crimes Risk Management




Requisition ID: 117284  


Employee Referral Program – Potential Reward:  

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The Vice President and Global Head, Global Payments Financial Crimes Risk Management (The VP) provides strategic direction, and leadership and oversight for Financial Crimes Risk Management (FCRM) risks associated with Payments. This role at its core is to clearly understand and document how funds move through the Bank to support the FRCM Risk Leadership in the accurate application of controls to manage FCRM Risk. Reporting to the Global Head, Financial Crimes Risk Management, the VP will lead a team of eight.  


The VP provides strategic direction, leadership, and oversight for:

  • FCRM Risk Payments Globally ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies, and procedures; works with Sanctions Risk Global Head as needed to support business strategies. Note that payments risk excludes management of Sanctions risk which is the responsibility of the Global Head of Sanctions.
  • Lead the Bank’s Global Payments FCRM Oversight function. Provides risk-based independent oversight, risk assessment and effective challenge to the First Line of Defense in partnership with FCRM Leadership. Is responsible for Payments policy development, measurement, reporting, limits and controls and monitoring. Establishes and implements the second line oversight, challenge, and objective assessment activities over the end-to-end Payments management processes within the Bank and with respect to the global payments risk management strategies.
  • Identifies the key payment controls and oversees the monitoring and oversight of those controls
  • Leads the advice and counsel in the development of payments controls related standards and procedures for Payments Modernization, New Payments, and changes in the Bank’s payments infrastructure.



  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge
  • Leads the support of the development and monitoring of the enterprise 2nd line Payments Risk program and policy ensuring effective identification, mitigation, and response of internal and external FCRM Risks ensuring payments controls are in alignment with the Bank’s risk appetite and regulatory expectations
  • Leads the development of FCRM payments strategy
  • Leads the implementation of an appropriate and sound FCRM compliance program for the Bank's payment operations enterprise wide to help ensure that the Bank is adhering to relevant regulatory obligations
  • Identifies key issues and areas in relation to payments FCRM Risk
  • Supports the preparation of the global FCRM risk assessment exercise in relation to Payments
  • Directs the design, development and implementation of appropriate risk-based training program, and appropriate 2nd line as it relates to Payments Risk to meet enterprise and regulatory requirements.
  • Represents Scotiabank in industry forums and collaborates with industry's FCRM and Payments Risk professionals to address common challenges or changes in payments regulation
  • Proactively assesses and identifies areas or issues that may pose Payments Risk to the Bank and to develop or amend existing policies, procedures, practices, training, and other controls in response to changing legislative requirements and regulatory expectations
  • Works directly with the FCRM leadership team to embed an understanding of the Payments risk profile and risk appetite into strategic decision making; challenges decision making that contradicts profile and risk appetite
  • Contributes to the review and in some cases sign-off of risk assessments executed by the business including Payments risk assessment, deep dive assessments, scenario analysis and new product or change initiative assessment.
  • Works closely with business lines and other key groups, including Global Sanctions, Onboarding, and Operations and communicates regularly to relevant business line management and FCRM Senior Leadership  
  • Partners with the designated stakeholders assigned with Payments Oversight accountabilities in each country or region to ensure alignment with Payments global programs, policies, and standards
  • Stays informed of Payments prevention and detection technology to ensure continuing effectiveness in detecting FCRM risk, and challenge new technology solution due diligence, cost assessment and projected timing to assess planning and set expectations and metrics for post implementation reviews
  • Coordinates with Global FCRM Risk, to address the Bank's regulatory issues and remediation projects.
  • Directs day-to-day activities in a manner consistent with the Bank's risk culture and the relevant risk appetite statement and limits. Communicates the Bank's risk culture and risk appetite statement throughout their teams
  • Works with the Canadian Head of Regulatory Initiatives and the Director of FINTRAC Regulatory Reporting on payment related Threshold Reporting and PCMLTFA requirements
  • Develops controls to support real-time payment rails and compliance with SWIFT 2022 standards
  • Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, 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 and conduct risk.
  • Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors; communicating vison/values/business strategy; and, managing succession and development planning for the team.


The VP, AML Payments handles multiple projects with broad, divisional scope at any given time.  Spanish fluency and experience working in IB business lines is considered a significant asset.


Must have a developed, demonstrated competence in operational and technology solutions related to the payments industry to understand and assess the critical milestones and activities required to cost effectively manage the business and drive process improvement.


Must be able to effectively manage many complex projects simultaneously in a sophisticated matrix management organization and across multiple geographies.


The individual requires strong oral and written communication skills and proven ability to: Make presentations to various groups; deal with all levels of line management up to the EVP (individually or in committee); chair meetings involving diverse Bank organizations and management levels; and deal with vendors/consultants. He/she must have an expert ability to balance competing or conflicting goals of various departments/stakeholders, requiring a mature, diplomatic approach and highly developed negotiation and influencing skills.


Strong influencing skills and negotiation skills are also critical to negotiate with project team members/management to acquire/maintain support to negotiate priorities with full consideration and awareness of potential impact on business needs and outcomes.


Must have proven people management skills to lead a team.


Education / Experience

  • Recognized degree in business or technology (BCom, MBA, BSc)
  • Min of 10 years working experience in payments industry
  • Min of 10 years working experience in an operations role
  • Extensive knowledge of network process and regulations (Visa, MasterCard, Amex, Discover)




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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