Director, Global Sanctions Exam Management, Regulatory and Emerging Risks

Scotiabank•Dallas, TX

11d

About The Position

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. Global Banking and Markets 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 The incumbent will lead the sanctions exam management that would entail leading efforts on audit-related matters, as well as leading environmental landscape analysis by conducting research, identifying, assessing and advising on emerging risks and sanctions regulatory changes. The incumbent will stay abreast of sanctions regulatory changes, analyze potential impacts, develop strategies to ensure compliance and minimize potential liabilities. The incumbent will advise and report to the Deputy Global Head of Sanctions and coordinate with Global Sanctions principles to ensure applicable policies, standards, procedures, trainings, and governance functions are agile to meet the ever-evolving sanctions risks. What You'll Do The Sanctions Exam Management & Regulatory Emerging Risks Director oversees the identification, assessment, and management of risks connected with new or emerging sanctions regulatory and legal risks, ensures sanctions compliance and minimizes potential negative impacts for an organization. The incumbent is responsible to lead and oversee the Global Sanctions Exam Management, Regulatory and Emerging Risks function, which includes the following:

Requirements

Education – Minimum Bachelor’s degree in business, international relations, economics, or related field, JD preferred
Industry Experience - Minimum of 7 years in sanctions compliance, accounting and internal auditing related functions in financial services or a comparable government agency or a related field
Sanctions Regulatory Expertise and Knowledge - Extensive knowledge of U.S. and Canada sanctions regulatory requirements and other global sanctions programmes, including understanding of relevant sanctions laws, regulations, and industry trends
Risk Management Expertise - Proven ability to assess, manage, and mitigate risks related to sanctions compliance and audit-related matters
Analytical and Problem-solving skills - Ability to analyze complex information and identify potential risks and resolve complex issues and recommend/develop remediation plans, including conducting environmental scanning of emerging risks
Communication and Interpersonal skills: Excellent communication skills to effectively convey information to stakeholders and interpersonal skills for interacting with regulators and stakeholders, including working with diverse teams and building strong relationships
Leadership skills – A thought leader in a risk and regulatory area, ability to lead and manage a your own and regulatory professionals, prioritize tasks and meet deadlines
Communication Skills - Excellent written and verbal communication skills to effectively convey complex risk information to stakeholders across the Bank
Computer Skills - Advanced skills in Microsoft Office suite, including Excel, Access, Visio, Project, and PowerPoint.

Responsibilities

Regulatory & Industry Expertise - Stay abreast of changes in sanctions regulations, emerging risks, and industry best practices, providing expert guidance to the organization.
Regulatory & Audit Liaison - Act as the primary focal point and liaison with regulators, examiners, and auditors coordinating efforts, providing accurate information and responding to inquiries.
Audit management and coordination – Oversee sanctions-related audit and coordinate with appropriate stakeholders, including identifying potential audit-related issues as well as conducting reviews and ensuring timely and high-quality completion of audit work papers and closure packages.
Strategy Development - Develop and implement audit strategies to mitigate or address identified emerging sanctions regulatory risks.
Monitoring and Analysis - Continuously monitor and research the sanctions regulatory landscape for emerging trends, new regulations, and changes to existing rules. Ability to analyze complex information and identify potential sanctions risks.
Policy & Strategy Development - Contribute to the development and implementation of regulatory policies and strategies and emerging risks impacting the sanctions compliance programme.
Risk Assessment, Identification & Remediation - Conduct regular risk assessments to identify and assess potential sanctions regulatory risks, including those arising from new or changing laws, regulations, or industry trends. Identify and where applicable/possible, mitigate sanctions-related risks, including emerging risks and vulnerabilities and ensure adherence to regulatory requirements. Evaluate the potential impact of emerging sanctions regulatory risks to the organization.
Business Relationship Management - Partner with and strengthen relationships with business units to understand their operations and identify potential regulatory and emerging risks and impact to audit-related matters.
Cross-functional Collaboration and Communication - Work closely with various departments, including compliance, risk management, and business units, to ensure a coordinated and effective approach to managing sanctions audit. Excellent written and verbal communication skills to effectively convey information to various stakeholders.
Reporting - Provide updates on sanctions audit findings, controls and risk management to the Deputy Global Head of Sanctions and relevant management for a/committees and personnel as requested.
Knowledge Awareness - Understand how the Bank’s risk appetite and risk culture should be applied in day-to-day operations and decisions. Develop your own knowledge and contribute to the Bank’s knowledge-base by staying abreast of sanctions industry practices, regulatory standards and emerging risks.
Leadership: Establishing a high-performance environment that reinforces both individual accountability and strong inter- group cooperation.
Fostering an inclusive work environment that reinforces mutual respect and collaboration between all team members, whilst taking into account individual differences and working styles.
Communicating a clear vision and business strategy.
Ensuring that management expectations, including accountabilities, objectives, are effectively communicated and monitored.
Empowering all team members to develop creative and strategic solutions, including streamlining processes and planning initiatives, where appropriate.
Driving collaboration and efficiency across multiple teams globally in connection with the range of program execution and oversight tasks associated with financial crimes and sanctions.
Building strong partnerships with First, Second Line business and Control Functions and other key stakeholders in connection with the Bank’s Sanctions Program and working collaboratively across functional teams to resolve open issues in a timely and effective manner.