Requisition ID: 103814
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. Purpose of Job
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 are in compliance with governing regulations, internal policies and procedures.
The primary responsibility of this position is to support compliance remediation testing for Scotiabank's Canada. operations. The Canadian Compliance Testing Program covers Canadian and extra-territorial regulations applicable to all of Scotiabank's broker-dealer (including internal inspections), banking, swap dealer, futures commission merchant, investment management activities, corporate functions, cross-border testing engagements and other financial services activities. Members of the testing team may be assigned to conduct testing with respect to these business activities. Major Accountabilities: Testing
- Scope and execute compliance testing remediation and create testing methodology in order to assess compliance with legal, regulatory and internal firm policy requirements.
- Focus on applicable regulatory requirements to ensure testing is adequately designed to identify potential control gaps and non-compliance with laws and regulations.
- 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 recommendations and deficiencies noted during the fieldwork process.
- Provide assistance 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.
- Maintain a customer focused culture to deepen client relationships and leverage broader relationships, systems and knowledge.
- Build or perpetuate a "high performance" environment and implement a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment.
Education / Work Experience / Designations:
- Learn GBM&T Global Businesses, Products and Regulatory Requirements by creating a sustainable process including Sustainable Training Decks
- Perform a detailed review of controls and Compliance obligations to organize, coordinate and build consistency across the GBM&T Global Platform including creating reporting, issue writing standards and issue tracking database tracking and monitoring all issues and observations into a central repository
- Assist in creating the GBM&T Annual Plan for Global Compliance Testing to verify appropriate testing is completed for the region to include in the GBM&T Global Compliance Testing Plan
- Create and provide GBM&T Compliance Management Team with reporting (MI) on Testing progress to plan, any issues identified
- Assist the GBM&T Global Head of Compliance Testing to build out various testing strategies across the Global platform by creating including testing methodology, governance documentation and enhancing methodology procedures across the Global platform including testing template frameworks in order to create a more diverse and efficient testing and reporting experience
- Coordinate with the GBM&T Global Head of Compliance Testing, Global Regional Chief Compliance Officers and Local Business Management to verify the accuracy, completeness and integrity of controls are reflected in the Controls database and participate in regulatory refreshes to ensure key stakeholders to comply with Canadian and Global Regulations and/or Firm policies
- Work at the direction of the GBM&T Global Head of Compliance Testing on ad-hoc projects including Regulatory requests or driven from Action Plans raised by Internal Audit, or Compliance Testing
- A minimum of 3 years of compliance, audit or regulatory exam support, at least 2 of which should involve testing, audit, large accounting firm or regulatory background
- Experience/background in compliance applicable to broker-dealer internal inspections, institutional trading & sales, investment banking, futures commission merchant, swap dealer activities, commercial banking, investment management, and corporate functions within investment or commercial bank or institutional broker-dealer is preferred.
- Solid familiarity with applicable Canadian Regulators (OSFI, OSC and IIROC) as well as enough knowledge of US Regulators (SEC, FINRA, CFTC, NFA, Federal Reserve). Basic knowledge of Global Markets and Banking rules applicable to international banks conducting institutional trading & sales, investment banking, investment management, and commercial banking is a plus.
- Strong analytical and investigative skills.
- Solid ability to quickly review, assimilate, prioritize and escalate issues to appropriate stakeholders.
- Solid ability to manage multiple compliance reviews and projects at the same time and meet timely deadlines.
- Outstanding written and spoken communication abilities.
- Excellent teamwork, interpersonal and conflict resolution skills.
- Highly organized and capable of dealing with complex projects.
- BA or international equivalent.
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. Job Segment:
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