Requisition ID: 213219
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Reporting to the Director, Global Policy Development - Global Policies & Standards, the Senior Manager contributes to the effectiveness of the AML Program (including anti-money laundering, anti-terrorist financing, and sanctions) by driving the design and implementation of programs and initiatives aimed at monitoring evolving AML/ATF regulatory trends and their potential impacts on policies, standards, and business strategies. The Senior Manager maintains a proactive awareness of current and emerging regulations and industry issues to ensure Global AML Leadership is informed of developing risks and trends. They provide insights into significant enforcement actions against other banks that may be relevant to Scotiabank's AML Program, incorporating lessons learned. Additionally, the Senior Manager participates in shaping public policy through thought leadership and advocacy of Bank positions via industry forums, such as the Canadian Bankers Association (CBA).

Is this role right for you? In this role, you will:

• Assist the Director in building and maintaining relationships with government and industry stakeholders associated with Canada's AML regime.

  • Build relationships with other financial institutions and industry associations to promote common interests and share insights on emerging threats and trends.
  • Participate in working groups focused on AML topics within industry associations and government forums, maintaining awareness of emerging issues and reporting these to the Director.

• Monitor Canadian and international legislative and regulatory developments and/or trends, providing analysis and recommendations to the Director, and occasionally to Senior Leadership.

  • Through a broad understanding of Scotiabank's requirements, standards, and operations, provide strategic insights and recommend changes to enterprise standards arising from regulatory intelligence.

• Analyze the text of proposed legislation and regulations, with a view to the potential impact on the bank's operations and clients. Identify potential unintended consequences for escalation to government via industry associations.

  • Coordinate and prepare position papers, policy briefs, and reports on AML-related issues, including drafting responses to public consultations and draft regulations. Assist the Bank's efforts to provide thought leadership on AML issues.

• Champion the interests of Scotiabank and its clients through effective communication and advocacy via industry bodies such as the Canadian Bankers Association (CBA).

  • Review and generate feedback (often under tight deadlines) on draft CBA letters to government outlining the industry's positions, ensuring the Bank's interests are represented.

• Collaborate with internal stakeholders, including business units, legal, privacy, corporate security, government affairs, and other sub-units within Global AML (including sanctions and FIU) to ensure alignment and support for government advocacy positions.

  • Assist in preparing the quarterly response for the GRM Top and Emerging Risks report for ML/TF risks and coordinate with Global Sanctions & Screening for their input regarding sanctions risks.

  • Keep the AML public statement up to date and ensure its alignment with other public statements on the Global Program.

  • Coordinate the relevant responses to industry ESG survey questions regarding anti-crime policies and measures (e.g., DJSI).

• Assist in preparing regular reporting to Management Committees and the Board on emerging AML risks and trends, including significant industry AML enforcement actions.

• Provide subject matter expertise to help enhance the Bank's AML training and awareness programs for employees and stakeholders, particularly in respect of industry trends and "lessons learned" from enforcement actions taken against other financial institutions.

  • Provide input to training materials for the Board of Directors and Executive Management in terms of key enforcement actions and emerging regulatory trends.

• Champion a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.

• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.

• Actively pursue effective and efficient operations of their 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.

• Champion a high-performance environment and contribute to an inclusive work environment.

Do you have the skills that will enable you to succeed? We'd love to work with you if you have experience with:

• A university degree, preferably in business, risk management, compliance, or a legal discipline, with a minimum of 5 years of relevant experience – preferably covering a broad range of disciplines, including AML/ATF, compliance, operations, and/or legal – or equivalent.

• Expert ability to quickly read, analyze, and synthesize legal and regulatory documents, identifying key issues and inter-related themes. Ability to relate issues and themes to key concerns of management.

• Expert ability to communicate clearly and effectively, both verbally and in writing, with all levels, including senior and executive management.

• Ability to listen, understand, influence/negotiate, and obtain consensus from senior management when introducing new ideas and policy recommendations for action or change.

• Command a high level of knowledge of a wide variety of domestic and international regulatory requirements and, in a constantly changing environment, be capable of digesting, interpreting, and communicating often highly complex regulations and supervisory interpretive guidelines that fall within the scope of the position.

• Thorough working knowledge of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its regulations.

• Knowledge of the financial services industry locally and globally; working knowledge of a global conglomerate bank

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!

• You'll be part of a diverse, collaborative, innovative, and high-performing team

• We offer a competitive rewards package:

• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching

• Health Benefits from day one!

• You will relish work-life balance, team events, and opportunities to participate in the community.

• Your career matters! You will have access to career development and progression opportunities.

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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.