Director, AML Controls, Global Transaction Banking - Toronto

Requisition ID: 198004

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

Global Transaction Banking

Global Transaction Banking (GTB) is the payments and transaction engine of Scotiabank. We support Small Business, Commercial and Corporate clients with effective treasury management solutions coupled with a best-in-class service model, making it easy for clients to do business with us.

As businesses build their digital capabilities and transform their operating models, their payment needs are evolving too. Boasting a unique global footprint, GTB’s comprehensive suite of innovative banking solutions help our business clients generate operational efficiencies, streamline and simplify payments, improve working capital performance, and mitigate financial risk.

At Scotiabank, we embrace your strengths, ideas, and ambitions. GTB is a fast-growing team with a focus on the Americas, particularly Canada, the U.S., Mexico, and we are seeking top tier talent to complement our organization.

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

Purpose
The Director, GTB Internal Control is a key member and contributor to the overall success of the Global Transaction Banking (GTB) Internal Control and Anti-Money Laundering (AML) program. This role has primary responsibility for contributing to the strategic direction and AML risk management of the Global Transaction Banking group through the following: Responsible for supporting the implementation of the operational risk framework tools, providing business support and oversight in GTB, ensuring reliable AML risk management controls are in place in keeping with the various Enterprise AML Risk Policies and Processes, managing strategic AML related projects, acting as Internal Control representative on working groups to ensure GTB is in compliance with all regulatory AML related issues and financial regulatory reporting.

What You’ll Do:
AML Control

• Provide expert oversight and direction to GTB business lines on matters related to AML compliance and Sanctions, leveraging Enterprise and GBM AML Risk as necessary. Advice on regulatory compliance matters for new regulations, organizational developments, new products, services and initiatives, in tandem with AML, Legal, and Risk/Control departments.
• Play a key role in the development and roll-out of both tactical/strategic process changes and long term solutions related to GTB’s AML controls. Represent GTB in key working groups across the bank in the development of new and amendments to existing AML and Sanctions Risk Management Policies.
• Provide subject matter expertise in the structuring and rollout of new AML requirements and process changes required to ensure onboarding, remediation and off boarding activities are compliant with regulatory reform impacting the division globally. This involves defining business requirements and processes, assisting in the preparation of business case proposals, and participating in testing.
• Support the GTB business by developing implementation strategies, detailed project plans, and monitoring progress against planned objectives related to GTB’s AML program.
• Provide subject matter expertise to the GTB onboarding, products, EDDU and business units in the areas of KYC, AML/ATF and economic sanctions, the application of relevant policies and procedures as well as providing support regarding the establishment/maintenance of business relationships with high risk clients.
• Leads key initiatives as assigned in AML and Sanctions Risk Assessment, Audit resolution coordination and regulatory response by collaborating with cross functional teams in achieving the multiple objectives in a global landscape and scope. Ensure transparency, stakeholder alignment, and sound risk management
• As directed, represent GTB and undertake additional projects to support implementation of changes to enterprise AML/ATF policies and procedures as well as local regulatory requirements.

Internal Control

• Provides strategic direction, leadership and oversight for the 1st line Non-Financial Risks Management Programs across GTB markets which comprises Operational Risk, Third Party Risk Management, Privacy, and Regulatory Compliance.
• Provide support for the Risk & Control Self-Assessment program through implementation of the scope review of the significant business units & processes within GTB, assist in data gathering for RCSAs, and monitor & coordinate updates of outstanding action plans;
• Partner with and provide ‘sounding board’ guidance to the business lines, technology groups and control and support units to ensure new initiative sponsors assess risks appropriately through the NIRA process;
• Ensure Key Risk Indicators for GTB and significant units are updated, documented and applicable thresholds justified through rationales for top applicable operational risks;
• Participate in Scenario Analysis through documentation and research of relevant internal and external operational loss events;
• Provide guidance to contract owners on TPRM requirements including completing Inherent Risk Questionnaire and applicable due diligence
• Provide support for Enterprise Regulatory Compliance Management (eRCM) program by reviewing regulatory obligations identified by Regulatory Compliance, mapping relevant regulations to the appropriate GTB business units, and working with those units to identify relevant controls to address regulatory obligations.
• Review Assessable Units and Assessable Categories (AUACs) as required by Global Compliance to ensure applicability. Assist units in completing CRCA questionnaires. Identify Major Change Events that would impact the responses to those events, and provide effective challenge to CRCA responses

What You'll Bring:

• Minimum 10 years’ experience in financial services. During this time the incumbent will have had roles that included: process improvement; auditing; sales; AML; compliance; and engaging executive management across first and second lines
• Master’s degree in business administration, finance, or university degree preferably in Legal/Compliance or business administration, finance or equivalent work experience;
• CAMS certified or other relevant field; agile designation or experience is an asset.
• Experience in enterprise or business line compliance program or operational risk management is preferred; AML knowledge and experience would be a benefit.
• Knowledge in GTB products and wholesale banking products and operating model is an asset
• Fast learner, strong analytical skills and critical thinking capabilities to frame and structure complex issues effectively and develop insights and recommendation.
• Change agent with high energy, demonstrated strong ability to work under pressure, deal with ambiguities and uncertainties, and drive for result
• An understanding of compliance, operational risk framework tools and best practices in AML/KYC
• Strong analytical, investigative, reporting, and planning skills
• Outstanding written and spoken communication abilities
• Excellent leadership skills, interpersonal and conflict resolution skills
• Highly organized and capable of dealing with complex projects
• Ability to manage multiple compliance, audit reviews and projects concurrently

Work Arrangement:

• Work in a standard office-based environment; non-standard hours are a common occurrence;
• Global coverage will require conference calls during Asian and European business hours
• Dynamic, fast paced office-based environment. Occasional travel may be required;
• Demands can be unpredictable;

#LI-Hybrid

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.