Requisition ID: 103819
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 with Testing Coordination and Oversight over Banking reviews of GBM Businesses 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 provide coordination and oversight for GBM compliance testing for Scotiabank's \ Banking operations. The GBM Compliance Testing Program covers local and extra-territorial regulations applicable to all of Scotiabank's broker-dealer, 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. Key Accountabilities: Testing
- Scope and test Global GBM&T Businesses in order to assess compliance with legal, regulatory and internal firm policy requirements.
- Focus on the applicable local and extra-territorial regulatory requirements to ensure testing is adequately designed to identify potential control gaps and non-compliance with laws and regulations.
- Review and escalate potential issues and exception items noted during the review process to senior management and drive the Team's collective issues management and validation testing efforts
- Ensure that the stakeholders respond with appropriate action to address all draft recommendations and deficiencies noted during the fieldwork process.
- Perform required administrative responsibilities in support of testing that will build consistency to global standards, including but not limited to:
- Preparing and entering all issues and observations into central repository
- Prepare and distribute testing reports to senior management detailing review findings and recommendations
- Review Workpapers documenting testing and supporting documentation to verify testing is completed accurately and consistently to GBM&T Testing Standards
- Conduct Branch Reviews of the firm's branch offices preparing checklists/text scripts for the team to assist in the branch review planning process while conducting meetings with business stakeholders as part of branch inspections to obtain an understanding of the business,
- Maintain a customer focused culture to deepen client relationships and leverage broader relationships, systems and knowledge.
Additional Accountabilities (Team Lead Only)
- Manage and directs day-to-day activities for designated Global Compliance Testing Reviews and Testing Officers and be the initial point-of-contact for the execution of corresponding testing engagements
- Review and provide feedback on materials created by Global Compliance Testing Officers throughout all stages of testing engagements before the final draft supporting materials and testing report get submitted to the Global Head and/or Regional Head of Compliance Testing.
- 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:
- Educate testers on 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
- Provide GBM&T Compliance Management Team with reporting (MI) on Testing progress to plan, any issues identified
- Lead and 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 alongside 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 7 years of compliance, audit or regulatory exam support, at least 3 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.
- Strong familiarity with applicable Canadian Regulators (OSFI, OSC and IIROC) as well as sufficient 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.
- 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 including excellent teamwork, interpersonal and conflict resolution skills.
- Highly organized and capable of dealing with complex projects as well as solid analytical and investigative skills.
- BA or international equivalent.
If Team Lead Only
- Experience/background in managing a team of compliance testers.
- Experience managing remote teams in a virtual environment a plus.
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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