Requisition ID: 255212
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
Contributes to the overall success of GBM Business Risk Management (“BRM”) by providing subject matter expertise to the Corporate Banking line of business, covering GBM and GTB, relating to material client risks, with particular focus on AML/ATF and economic sanctions (“AML”), the application of relevant policies and procedures, as well as conceptualizing and maintaining an achievable control environment.
What You'll Do:
- Contributes to a positive risk culture and ensures day-to-day activities and decisions are undertaken in accordance with the Bank’s risk appetite and mitigated in accordance with relevant policies and procedures.
- Pursue effective and efficient operational delivery, applying day-to-day procedures and business controls with respect to AML/ATF and economic sanctions risk, regulatory compliance risk, reputational and operational risk, including but not limited to responsibilities under the Enterprise-wide, GBM and ABC AML Policies, Standards and Procedures (“AML framework”).
- The Associate Director will support the bank's transaction banking team conduct in-depth analysis of the risks associated with third party payments
- Support Director, GBM Business Risk Management, AML Advisory in the capacity of AML Advisor for GBM and GTB Canada, including the timely management and completion of all governance processes as defined in the AML framework.
- Support the Global BRM AML Advisory team co-ordinate efforts to streamline and globalize KYC and risk reviews across the bank’s jurisdictions.
- Support pre-onboarding, business-led, committees with complex risk assessments – FIMC, IBBA, and BRM CRM, critical to the revenue strategy for the North American corridor.
- Support the AML Advisor in responding to regulatory and audit requests, including by collating information and by providing testers with explanations and responses. As directed, represent the department and undertake additional projects to support implementation of changes to the AML/ATF framework as well as local regulatory requirements.
- Conceptualize, review and author AML/ATF and sanctions-related policies, standards and procedures applicable to GBM and AML Advisory and Controls.
- Stay abreast of and communicate relevant developments in the areas of regulatory environment, industry trends and best practice to the team to foster a culture of high performance.
- Provide accurate and timely AML/ATF and sanctions subject matter expertise to the business to support their effective completion of GBM KYC/CDD/EDD/SEDD processes.
- Apply and maintain achievable controls relating to High-risk clients, e.g. EDD/SEDD measures, escalations and requests for exceptions or waivers to relevant policies and procedures (as delegated).
- Support development and delivery of effective training in the areas of KYC/CDD/EDD to the business.
- Support Director AML Advisory and Controls in operationalizing the AML framework, identifying potential areas of improvement and communicating results to stakeholders.
- Develop, maintain and expand strong professional relationships with relevant stakeholders,
What You'll Bring:
- A University degree preferably in Legal/Compliance or Business Administration /Finance
- Superior working knowledge of PCMLTFA and accompanying regulations as well as Canadian and U.S. economic sanctions legislation/regulations, regulatory expectations and industry practices
- Subject matter expert knowledge of payment rails/products, emerging payments technologies, including digital currencies and virtual accounts is required
- Knowledge of RPAA and FINTRAC/FINCEN MSB regulatory regimes required
- Knowledge of global capital market products and services and associated risks
- Knowledge of payment rails and emerging payment technologies, including digital currencies, and associated risks
- Experience with payments product suites, payment flows, and transaction monitoring an asset
- Strong communication (written and oral), interpersonal, complex analytical and problem-solving skills
- Team player with good organizational skills to deliver on various projects and assignments and to prioritize workload to meet deadlines.
- Minimum 5 years of experience in a KYC/AML/sanctions role, with experience in undertaking research and investigation of high-risk clients
- Working experience with MS Office suite – Outlook, Word, PowerPoint, Excel
Role Dimensions:
- Scotiabank implements Three Lines of defence with the Director, GBM Business Risk Management, AML Advisory forming part of GBM Business Risk Management.
- Supports the business within GBM Canada regarding implementation, operationalization and enhancement of relevant policies and procedures.
- Uses World-Check, Quantifind and open-source information to assess risk
- Uses Fenergo to research existing client relationships, case manage tools and all control and reporting processes.
- Coordinate and collaborate with the business, management, audit and AML Risk on matters concerning AML/ATF, sanctions and control decisions that may present potential financial crime/regulatory/reputational risk.
- Regulatory bodies: Including but not limited to OSFI, FINTRAC, FINCEN, FCA, MAS, HKMA
Work Arrangement:
This position is currently a hybrid role, with the expectation that you will work 4 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.
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. 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.
