Director, AML & Sanctions Enterprise Program, Caribbean

Scotiabank • Toronto, ON

5d • Onsite

About The Position

The Director leads and oversees the AML & Sanctions Program in the Caribbean, ensuring business strategies, plans, and initiatives are executed / delivered in compliance with governing regulations, internal policies, and procedures. The incumbent assists the VP AML Caribbean with developing, managing, and overseeing the Scotiabank AML & Sanctions Program. In this role, the incumbent is responsible for defining, executing, and maintaining AML & Sanctions policies and program initiatives across the region. This position also assists the VP AML Caribbean in liaising with regulatory authorities, and planning and coordinating with global AML teams on AML & Sanctions program initiatives, as necessary.

Requirements

• University degree or equivalent, and experience in the financial services industry, preferably in a global/matrix organization in risk management, audit, or AML disciplines.
• Demonstrated ability in exercising sound judgment as to the materiality of risks where identified and/or providing situational solutions.
• Demonstrated expertise leading enterprise-wide AML/ATF & Sanctions programs at senior executive levels.
• Minimum of 10 years of AML/ATF and risk experience in a financial institution and/or management consultant environment.
• Expert knowledge of AML & Sanctions regulatory requirements and expectations.
• Proven ability in determining risk mitigation activities with appropriate consideration of the impact to the business line where relationships are important or valuable.
• Excellent communication, negotiation, and strategic influencing skills are key requirements.
• Analytical approach to problem solving, with a focus on managing a team environment with attention to results and a sense of urgency.
• Strong technology background coupled with equally strong financial and risk management knowledge.
• Strong business acumen and strategic thinking skills with a strong client orientation and ability to understand internal and external client needs, lead client-centric teams, and drive client-centric decisions.
• Proven ability to lead / drive rapid and significant change.
• Exemplary integrity and ethics in all instances.

Nice To Haves

• Certified Anti-Money Laundering Specialist (CAMS) designation would be an asset.
• Verbal and written communication skills in Spanish are an asset.

Responsibilities

• Lead and drive a customer-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Provide overall AML & Sanctions leadership and support to the VP AML Caribbean, and support as needed to the Caribbean AML & Sanctions team, in the development and maintenance of the Sanctions, Risk Assessment, Regulatory Management, and Policies / Procedures and Training Program.
• Coordinate all requirements and manage the impact to MLRO deliverables and other senior managers’ roles in the Caribbean AML & Sanctions processes. Promote alignment and consistency among countries’ definitions and, if differences arise, clearly understand and articulate the rationales.
• Establish and maintain current AML & Sanctions programs and policies. Issue local standards for implementation of various AML & Sanctions control processes. Ensure that local AML & Sanctions programs are maintained up to date and in accordance with Enterprise Standards and local mandatory provisions.
• Develop and maintain an appropriate AML & Sanctions risk assessment methodology and assist with the coordination and execution of the regional annual Risk Assessment process.
• Lead teams assigned to keep local regulatory obligations and applicable key controls inventories up to date and in accordance with Enterprise Standards.
• Develop and maintain periodic management and escalation reports for the VP AML Caribbean’s risk management and leadership execution.
• Perform a challenge function, supporting the VP AML Caribbean in the assessment of the AML & Sanctions program (processes & initiatives), through evaluation and/or engagement with the Caribbean Directors/Senior Managers accountable for specific program elements in both 1L and 2L.
• Liaise with the local business leaders and Business Lines’ AML Advisors on AML regulatory changes, trends, industry issues, new products/businesses, policy and procedure documents, and process improvements.
• Provide second line of defense oversight and leadership for the execution of the Enterprise AML/ATF & Sanctions Regulatory Compliance Management (RCM) Program across Caribbean jurisdictions, ensuring local regulatory obligations are accurately identified, assessed, mapped to controls, monitored, and escalated in alignment with Enterprise standards and expectations.
• Oversight of enterprise programs as assigned by Head Office. Coordinate with the global Head Office on assigned program elements.
• Manage oversight and execution of enterprise program elements, including design, roll out, and program sustainability.
• Engage with IB AML, GSS, AML/ATF Risk Detection, AML Data/FCRMMA, AML Operations, AML Investigations, and AML Technology teams in Head Office in support of the design and calibration of the bank’s automated monitoring systems.
• Liaise with MIS and Data Analytics teams for all data / MIS needs to support the Caribbean AML & Sanctions Program.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Create an environment in which their team pursues effective and efficient operations of their 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 & sanctions, and conduct risk.
• Build a high-performance environment and implement a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors; communicating vision/values/business strategy; and managing succession and development planning for the team.

Benefits

• A competitive compensation and comprehensive benefits plan.
• The opportunity to join a forward-thinking organization where you are surrounded by a collaborative team of innovative thinkers.
• An organization committed to making a difference in our communities - for you and for our customers.
• You can expect to be recognized and rewarded for high-performance; you will be supported by leadership through meaningful development conversations that enable faster advancement and internal training to support your growth and development.

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: Associate degree