Requisition ID: 87120
Join the Global Community of Scotiabankers to help customers become better off.
The objective of the Senior Compliance Officer (SCO) is to directly conduct capital markets trading related surveillance, monitoring and support for the Global Banking and Markets & Treasury (“GBM&T”) business division of Scotiabank. The SCO is responsible for carrying out Tier 2 compliance activities for assigned internal business groups in accordance with regulatory requirements, in particular those established by securities regulations and Self-Regulatory Organizations as well as internal policies and procedures.
Conduct near real time and post trade market related surveillance reviews of alerts generated by automated surveillance systems, focused on OTC product trading by traders, sales staff and clients. Some manual reviews on this sector may also be required
Generate reporting for trade surveillance activities relating to specific GBM&T business lines, business divisions of Scotia Capital Inc. (“SCI”) and/or products, as required for delivery to business division senior management, supervisors and senior management within Global Compliance in a timely manner and without delay
Act as a resource for the team by supporting the Trade Surveillance department Senior Manager(s) and assisting Compliance Officers and other Senior Compliance Officers in the execution of their duties. Act as subject matter expert for trading related matters involving business divisions, Operations, Finance and any other external group as required
Act independently, conduct research and perform analyses in support of regulatory or marketplace inquiries, investigations and/or examinations; including internal matters escalated to Trade Surveillance. Recommend solutions and actions to resolve outstanding issues. Escalate matters requiring further investigation or specialist assistance
Develop and deliver annual, periodic and ad hoc compliance training for team members based upon particular expertise. This may, on occasion, extend to external stakeholders
Supports effectiveness testing of business supervision related processes and controls, including identification of gaps in the existing trade surveillance processes
Assist in the development and enhancement of policies, procedures and processes of the surveillance program. Assist other team members in continually evaluating compliance procedures and in drafting and updating procedures. Provide back-up support within the team and work on other projects as assigned
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions
Actively pursues effective and efficient operations of his/her respective areas. Ensure adherence to day-to-day business controls to best meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
Champion a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge
Incumbent will have strong knowledge of a variety of OTC markets and how they function
The incumbent must be results oriented with strong organizational and time management skills as the incumbent works in a fast-paced environment and is expected to handle multiple tasks with stringent deadlines. Effectively performing this role involves working with the team to ensure that all tasks are being addressed.
The incumbent handles sensitive and confidential information and must have a high level of integrity, exercising good judgement consistently.
The incumbent is expected to act independently and arrive at conclusions or recommendations based on the exercise of good judgement on moderately complex decisions falling within standard policies and escalate matters beyond existing policies. Effectively performing this role involves consulting with the team and others as needed.
The incumbent interacts on an ongoing basis with Executive and senior professional staff, generally on time sensitive items. The incumbent is required to respond with tact while ensuring compliance priorities and requirements are met.
The incumbent is expected to apply regulatory requirements and policy guidance with minimal supervision, provide advice to senior professional staff in the various business units, and identify, investigate and escalate any exception conditions to management. Functions must be performed accurately and reliably as errors or delays can have serious adverse regulatory implications
Advanced understanding of fixed income and/or derivatives trading (Listed and Over-The-Counter derivatives), including hedging and other sophisticated trading strategies
Minimum of 5 to 7 years of related experience at a financial institution and/or regulated securities dealer
Post-Secondary education and/or professional designations
Canadian Securities Course, Conduct and Practices Handbook Course, and/or the Trader Training Course
Able to work independently and with other staff across functional lines within the Bank
In-depth knowledge of regulatory and compliance requirements
Identify external market activity, news and additional factors that may influence trading activities
A comprehensive understanding of the Investment Industry Regulatory Organization of Canada (IIROC) dealer rules and Universal Market Integrity Rules, Montreal Exchange Rules, Financial Industry Regulatory Authority (FINRA) rules, as well as a sound understanding of Canadian provincial securities legislation applicable to trading activities and capital markets, Dodd-Frank Act, Volcker Rule and MiFID II or MAR
Excellent oral and written communication skills
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.