Hiring Manager: Associate Director, AML Program Management
Location Address: 150 King Street W, Toronto
Contract Duration: 2 months + high chance of extension
Number of Positions: 3
Schedule Hours: 9:00am – 5:00pm
Story Behind the Need
- Business group: The Global Banking Markets (GBM) markets group analyzes and ensures regulatory compliance and remediation for the banks capital market clients.
Purpose: The Group is working on a new project called Global OTC / ETD Data Remediation. The incumbent is responsible for providing reasonable assurance that quality standards are met across Global Banking Markets (GBM), performing ad-hoc and regular Quality Assurance testing to assess the adequacy, adherence, and effectiveness of Regulatory Onboarding Policies and Procedures, and that regulatory onboarding controls are being appropriately executed in GBM jurisdictions.
- Reason for request: Workload
Candidate Value Proposition
The successful candidate will have the opportunity to gain exposure to the banks processes while working with a high performing team that is up to date with global regulations.
Typical Day in Role
Perform qualitative and risk-based Quality Assurance by testing and evaluating key control points of a sample selection and develop testing results in accordance with GBM Quality Assurance Procedures. The reviews will require good knowledge of Regulatory Onboarding Policies and Procedures.
- Testing of regulatory onboarding procedures that impact GBM business trading activity (Dodd-Frank, EMIR, Canadian Trade Reporting) and the review of procedures and ad-hoc reviews
- Perform analysis to identify and address patterns, themes, or trends that indicate potential weaknesses or gaps in the execution of GBM-wide Regulatory Onboarding controls and procedures
- Produce Regulatory Onboarding 1st business line metrics and key risk and performance indicators
- Provide effective and constructive feedback to the execution teams within GBM on identified deficiencies
- Support in developing appropriate corrective action and preventive actions plans. These will be in their entirely Regulatory Onboarding related, and require good knowledge GBM-wide Regulatory Onboarding controls and procedures
- Develop periodical Regulatory Onboarding QA reporting of findings and progress against remediation objectives to management and other key stakeholders
- Support continuous development on Regulatory Onboarding QA reporting to ensure timely delivery of Regulatory Onboarding QA reporting to Senior Management and 2nd Line stakeholders
- Support in the development of training, where appropriate, based on Regulatory Onboarding QA results and progress of corrective actions
- Support in delivering future Regulatory Onboarding QA program phases due to changes in the regulatory landscape, system/process enhancements or updates
- Developing and maintaining key relationships with GBM Execution Teams and second line of Defence (i.e. global derivatives compliance teams, GBM Internal Controls stakeholders)
- Interact with and global procedure owner(s) on procedure details, provision of advice on any regulatory changes that may impact GBM processes.
Candidate Requirements/Must Have Skills:
• 4 + years relevant financial services experience within consulting, operational risk and / or compliance
• Recent experience OTC Derivative trading activities and regulatory requirements
• Prior experience in examinations/auditing roles, Quality Assurance, and an understanding of testing methodology and risk and controls analysis
• Excellent communication skills to gather business requirements, create and edit custom reports and provide solutions to multiple stakeholders on progress of project
- Previous Scotiabank Experience is requested and very important
- Knowledge of Regulations Dodd Frank, EMIR and Canadian Derivatives is highly preferred and will be prioritized
Degrees or certifications:
- Bachelor’s degree in a business administration, finance, or equivalent work experience
Candidate Review & Selection
- 2 Step Process: 1 – 2 Microsoft Teams Interviews
- Hiring Managers availability to interview: Interviews to take place Immediately after shortlisting (within 24-48 hours)