Associate Director, US Internal Control - Regulatory Trade Controls & Advisory - Toronto

Requisition ID : 202967

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

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years.

Scotiabank's strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients.

Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals.

We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!

Purpose

Leads and oversees a team within GBM Internal Control. The Internal Control team plays an integral role in the effective operation and maintenance of Global Banking and Markets' (GBM) and Group Treasury's (GT) six OTC derivative rules' Program elements ("OTC scope") for the first line of defense (1b).

Specifically, this role covers OTC scope in the 1b space for GBM and GT including various daily supervisory control and monitoring functions, breach remediation with Desk Heads and other control functions, advisory services and subject matter expertise consistent with standing Compliance opinion, ad hoc training delivery, internal metrics reporting, aggregation / coordination / reporting to various committees on controls for GBM>

and maintenance of key program governance documents. This role is also accountable for the timely and effective management of a series of Working Groups critical to various live OTC rule programs' performance.

In addition, this role oversees the effective Regulatory Trade Controls & Advisory (RTCA) engagement in OTC scope projects impacting live rules where RTCA is currently, or expected to be, significant business-as-usual (BAU) owner.

What You'll Do :

• Leads and drives a customer focused culture throughout the team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Provide management and oversight of team responsible for monitoring, and reporting of regulatory controls and metrics for six (6) OTC rule requirements.
• Develop and maintain subject matter expertise in the 6 OTC regulatory reforms.
• Ensure execution and record keeping of daily and periodic monitoring controls relating to the 6 OTC rules' requirements
• Ensure maintenance of documentation of all Internal Control's processes and procedures relating to OTC scope.
• Manage periodic maintenance and approval of key program Governance documents relating to DFA Title VII, EMIR, CTR, and APAC OTC rules.
• Prepare agendas for and moderate Working Group meetings for OTC scope and oversee preparation of daily and monthly compliance summaries.
• Manage internal audit and testing responses and assist with preparation for regulatory audits and queries.
• Liaise with Technology, Operations, Compliance and other relevant stakeholders to identify, prioritize and solve regulatory issues, gaps and enhancements.
• Prepare business requirement documentation for small scale regulatory change management or regulatory process changes / enhancements initiatives.
• Continue to acquire and enhance knowledge of business strategies and policies, regulatory requirements, processes, and changing technology to effectively assist in the provision of business solutions.
• Participate as Scotiabank representative at industry associations and related working groups at the direction of manager.
• Assist with developing materials, such as committee presentations, incident reports etc. and addressing ad hoc queries from management on OTC scope.
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates an environment in which his / her team 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.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours;

communicating vison / values / business strategy; and, managing succession and development planning for the team.

What You'll Bring :

• Bachelor / Advanced Degree in Business or Finance
• Minimum 5 years Capital Markets experience in Compliance, Operations, or relevant audit / regulatory experience covering a wide range of product / business areas
• Knowledge of the Canadian and global capital markets (preferably in OTC derivatives)
• Knowledge of the Derivatives Reporting regulations (Dodd Frank, EMIR, and equivalent regimes in Canada and Asia) would be an asset
• Knowledge of regulatory infrastructure for Trade Reporting, Central Clearing, Swap Execution Facilities, and Affirmation / Middleware platforms would be an asset
• Firm understanding of the Risk Management frameworks and related policies
• Previous experience in managing regulatory and / or other cross-functional change initiatives and regulatory reform initiatives in a Banking Environment
• Understanding of regulatory governance and the three lines of defense model
• Excellent judgment and business acumen, particularly around escalation and prioritization
• Expert analytic and problem-solving capability
• Proven track record of meeting deliverables and operate under tight timelines
• Leadership experience in a team or project management environment
• Ability to balance competing or conflicting goals of various departments / stakeholders
• A demonstrated ability to collaboratively work in a team environment under tight deadlines
• This role requires successful completion of the NFA Swaps Proficiency Requirements within 60 days of assuming the role

Work Arrangement :

This position is currently a hybrid role, with the expectation that you will work at least 3 days a week in the office. Please note that this is subject to change based on the needs of the business.

Interested?

If your experience is closely related but doesn't align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank!

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences.

That's why we work to grow and diversify talent and engage employees in a performance-oriented culture.

What's in it for you?

Scotiabank wants you to be able to bring your best self to work - and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

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.