Requisition ID: 87616
Join the Global Community of Scotiabankers to help customers become better off.
Purpose of Job:
Supports the management of Regulatory Onboarding Controls through the following primary functions:
Developing regulatory control process for managing and determining onboarding regulatory risks
Developing 1B regulatory control procedures as well as providing 1B guidance to GBM Onboarding team;
Developing and maintaining a regulatory controls inventory for global OTC derivative regulatory regimes;
Conduct impact assessment for regulatory changes and identified issues, conducting data assessment for audit, compliance testing and regulatory response; and
Managing regulatory onboarding issue management process and tracking for issue resolution;
Support Margin onboarding and related control processes
Support overall Regulatory Onboarding Control and Internal Control priorities as they arise
The Associate will perform necessary regulatory, process and data investigations to assist the Regulatory Onboarding Control management with identifying both ad hoc and systemic regulatory onboarding issues, driving process and control enhancement, and ensure timely response for regulatory inquiries, audit and compliance testing needs.
In the event of regulatory changes that impact onboarding requirements, the Associate would assist the Associate Director with designing such requirements with applicable internal stakeholders. The Associate will support other process, control and data initiatives internally, including regulatory reporting, process documentation, collecting appropriate internal KPIs, and supporting regulatory onboarding Quality Assurance. The incumbent is adept at both providing the division with client focused solutions, managing tight timelines, and executing both strategic and tactical changes necessary to ensure work completed accurately and regulatory risk managed.
Operates independently and in partnership with other internal stakeholders to deliver on the Bank’s OTC Derivative regulatory onboarding 1B control function activities. Demonstrates working knowledge of trading products and capital markets documentation requirements necessary in support of strategic plans implemented to address reporting requirements from an execution and controls perspective.
The incumbent effectively communicates and liaises with internal stakeholders (Legal, Compliance, Front Office, GWO, Internal Controls, RIG, Senior Management etc.) as required. The incumbent will be asked to assist with identifying process, control and data issues based on inquiries from internal stakeholders, and problem solve solutions to assess the risk faced by the bank, as well as implement solutions that control for risks for counterparty onboarding function.
The incumbent will be responsible for developing and enhancing 1B regulatory onboarding control procedures as well as guidance to GBM Onboarding 1A team procedures in response to regulatory changes that effect GBMO’s regulatory controls processes.
Support the delivery of internal (Board, Committee, Compliance, Audit) and regulatory controls related reporting as required.
At least 5 years of industry experience in the capital markets dealing with regulatory onboarding or other regulatory related business processes; knowledge of multiple capital market product areas and jurisdictions, supporting the operations of a financial institution is desirable. A background in global OTC derivatives regulations (including business conduct, margin and other related requirements) and related regulatory controls experience is highly desired.
A sound understanding of the capital markets business is necessary, as is a client-centric approach to the role. The international scope of the business, together with the multiplicity of stakeholders, will require work outside of traditional business hours from time to time.
Excellent communication and organizational and project management skills are critical to the role. Interaction with internal and external contacts includes GBM senior management, trading and marketing desks, corporate bankers, legal counsel, clients and industry players. Effective presentation are essential.
Must be able to operate effectively within an exceptionally time sensitive environment with changing priorities and tight time frames which are closely scrutinized by Senior/Executive Management.
The position requires strong business acumen, sound judgment and critical thinking skills. The incumbent must be an action-oriented and self-motivated multi-tasker who possesses strong relationship management skills as the role requires.
Proficiency with all Microsoft Office suite of products, including Excel and Powerpoint, Some experience using Visual Basic or other programming languages to automate manual / tactical tasks
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.