Purpose

Contributes to the overall success of the GBM&T Compliance Department in Canada ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team's business strategies and objectives. Ensures all activities conducted in compliance with governing regulations, internal policies, and procedures.

The primary responsibility of this position is to lead the compliance testing engagements for Scotiabank's Canada's operations. The Canada Compliance Testing Program covers Canadian regulations applicable to all of Scotiabank's Canadian broker-dealer (including internal inspections), banking, investment management activities, corporate functions, cross-border testing engagements and other financial services activities. Members of the testing team will be assigned to conduct testing with respect to these business activities.

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

• Support Compliance Testing reviews based upon the regulatory requirements, processes, policies, procedures to assess controls within the first and second lines of defense.

• Understand the applicable regulatory requirements to ensure testing is adequately designed to identify potential control gaps and non-compliance with regulatory requirements, best practices, and internal policies and procedures.

• Assist the team in responding to initiatives, audits, quality assurance reviews and regulatory examinations.

• Support Testing reviews through the planning/scoping, fieldwork and reporting phases.

• Escalate potential issues and exception items noted during the review process to senior management.

• Ensure that the stakeholders respond with appropriate action to address all draft deficiencies noted during the fieldwork process.

• Perform required administrative responsibilities in support of testing, including but not limited to:

  • Preparing and entering all issues and observations into central repository.

  • Prepare and distribute testing reports to senior management detailing review findings and recommendations.

  • Prepare Workpapers documenting testing with enough detail that a third party can reasonably understand.

  • Track and report the status of remediation and validation of open issues to senior management.

• Aid with the Team's collective issues management and validation testing efforts.

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

• Building and managing relationships with stakeholders across the business and peers within compliance.

• Actively 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.

• Champions a high-performance environment and contributes to an inclusive work environment.

Education/Experience

• A minimum of 3 years of compliance, audit or regulatory exam support experience with at least 1 years of which should involve testing or audit.

• Experience/background in compliance applicable to broker-dealer, internal inspections, institutional trading & sales, investment banking, commercial banking, investment management, and corporate functions within investment or commercial bank or institutional broker-dealer is preferred.

• Familiarity with applicable OSFI, IIROC, OSC, and Montreal Exchange as well extraterritorial broker dealer, swap dealer and banking rules applicable to international banks conducting institutional trading & sales, investment banking, investment management, and commercial banking in the U.S.

• Strong attention to detail.

• Solid ability to quickly review, assimilate, prioritize, and escalate issues to appropriate stakeholders.

• Strong ability to manage multiple compliance reviews and projects at the same time and meet deadlines.

• Strong written and verbal communication skills.

• Ability to work independently.

• Excellent teamwork, interpersonal and conflict resolution skills.

• Highly organized and capable of dealing with complex projects.

• Clear and confident communicator – verbal & written; given interactions with Senior Executives

• Ability to demonstrate multi-tasking and flexibility in working with diverse group of stakeholders/ business units.