Requisition ID: 87670
Join the Global Community of Scotiabankers to help customers become better off.
Purpose of Job:
An asset to GBM and all stakeholders within GBM, the incumbent is responsible for leading in the development and delivery of quality assurance standards by GBM’s OTC Derivatives onboarding groups, supporting ad-hoc and regular Quality Assurance testing to assess the adequacy, adherence, and effectiveness of Regulatory Onboarding Policies and Procedures, and ensuring regulatory onboarding controls are being appropriately executed in GBM jurisdictions. The incumbent will provide guidance to the division on how the changing regulatory landscape will impact our approach to client onboarding controls and the ongoing management/reporting of KPIs.
The incumbent is adept at both providing the division with strategic analysis of a multitude of regulatory regimes as well as developing and executing both strategic and tactical changes necessary to ensure clients are onboarded globally in accordance with changing regulations and in a manner that provides a superior client experience.
Key Job Accountabilities:
Internal Control Development and Delivery
Development and review of 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.
Oversight and review of regulatory onboarding procedures that impact GBM business trading activity (Dodd-Frank, EMIR, Canadian Trade Reporting)
Produce and report on Regulatory Onboarding business line metrics and key risk and performance indicators
Develop appropriate corrective action and preventive actions plans. These will be Regulatory Onboarding related, and require good knowledge GBM-wide Regulatory Onboarding controls and procedures
Develop periodic Regulatory Onboarding QA reporting of findings and progress against remediation objectives to management and other key stakeholders
Develop Regulatory Onboarding QA and KPIs to ensure timely delivery of Regulatory Onboarding QA reporting to Senior Management and 2nd Line stakeholders
Develop of training, where appropriate, based on Regulatory Onboarding QA results and progress of corrective actions
Deliver future Regulatory Onboarding QA program phases due to changes in the regulatory landscape, system/process enhancements or updates
Support 1B QA teams to 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
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.
Education and Other Requirements:
Bachelor’s degree in business administration, finance, law, or equivalent work experience
Depending on the work stream, experience in Operational Risk or Project Management
In addition, experience in OTC Derivative trading activities and regulatory requirements.
Minimum of 6 years in financial services, consulting, operational risk and/or compliance
Prior experience leading teams a plus.
Prior experience in examinations/auditing roles, Quality Assurance, and an understanding of testing methodology and risk and controls analysis an asset.
An understanding of compliance and testing best practices
Familiarity with OTC Derivative products offered in GBM
Strong analytical, investigative, reporting, and planning skills
Outstanding written and spoken communication abilities
Excellent teamwork, and interpersonal skills
Highly organized and capable of dealing with complex projects
Ability to manage multiple projects concurrently
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.