Head of Control Room and CIB Advisory Canada - GBM&T Compliance

Scotiabank•Toronto, ON

6d•Onsite

About The Position

To lead the Compliance Advisory team covering Corporate & Investment Banking Canada and oversee the operations of the Global Compliance Control Room. This role involves leading a team of Compliance advisory professionals for GBM and Treasury Canada, focused on Corporate & Investment Banking (CIB), Equity Capital Markets (ECM), Debt Capital Markets (DCM), Global Loan Syndications (GLS) and Equity Research and related middle and back-office support and operational teams. It also involves leading a team of Compliance professionals based in Toronto, New York, London and Singapore responsible for developing and managing control room processes and monitoring programs, including global watch and restricted list maintenance and related conflicts of interest management. The role ensures business strategies, plans and initiatives are executed in compliance with governing regulations, internal policies, and procedures. The Head will be supported by a team of Senior Managers and work closely with other Directors who support GBM&T Compliance Canada as well as the Global GBM&T Compliance teams.

Requirements

Post-Secondary education and/or professional designations
A minimum of ten years of relevant experience in an institutional business or compliance setting in a large financial institution, established securities dealer or regulatory agency
5 or more years of management experience or leading a team of direct reports.
Subject expertise on activities, products and services of investment dealers (in particular Investment Banking, Mergers & Acquisitions, Corporate Banking, Merchant Banking, Loan Sales and Trading and control room functions, specifically research disclosures, conflict management, watch and restricted principles, securities aggregation, insider trading etc.) and applicable Canadian and US laws, rules and regulations sufficient to interpret, analyze & apply relevant issues and developments in creative ways to compliance issues, including non-routine and sensitive situations.
General understanding of Canadian regulatory environment and industry trends
Ability to identify opportunities for initiating, improving and/or standardizing policies, procedures, and systems across GBM Canada whether in response to regulatory changes or identified problems and then conceptualize, produce, and promote efficient and cost-effective solutions to various levels up to and including senior management.
Excellent written and verbal communication skills and a proven ability to lead and motivate individuals and teams to work together in a coordinated way.
An enquiring mind, sound judgment and a strategic thinker who can, when appropriate, be tactical and pragmatic.
Ability to learn, adapt and remain resilient in a dynamic regulatory and business environment.
Strong project management skills with a proven track record of success with regulatory compliance and technology-based compliance projects.
Strong analytical skills.
Capable of simultaneously handling multiple tasks and meeting stringent deadlines.
Self-motivated, confident and capable of working both independently and in a team environment.
High level of integrity.

Responsibilities

Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
Leads and manages the Advisory relationship with the relevant GBM&T Canada business product, service and operational heads.
Develops a best in class Advisory team and program, providing ongoing counsel and advice, and delivering consistently efficient and effective compliance support to CIB, ECM, DCM, GLS and Equity Research.
Ensures that the policies and procedures for the business groups supported reflect, at a minimum, all Canadian legislative and regulatory requirements.
Ensures application of Scotiabank internal policies and procedures.
Oversees completion and effective challenge of risk assessments, such as New Initiative Risk Assessments (NIRAs) and Compliance Risk and Control Assessments (CRCAs).
Provides leadership and direction for the Advisory team, including providing significant influencing and coaching and mentorship.
Supports, develops, and delivers annual, periodic, and ad hoc compliance and related risk management training, education and awareness initiatives to the appropriate internal stakeholders and business divisions.
Oversees, coordinates and/or assists in the preparation for reviews and information requests from Canadian and International regulatory bodies.
Assists and provides guidance when responding to regulatory and internal audit inquiries, which includes gathering documents and/or data extracts.
On an ongoing basis, monitors and reports on the state of the GBM&T Canada Advisory Compliance program, through regular meetings with business, compliance and control personnel, the preparation and/or review of management information reporting and internal audit/regulatory review results.
Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vision/values/business strategy; and managing succession and development planning for the team.
Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Responsible for reporting to internal governance forums and timely escalation of conflicts.
Leads and mentors the control room team who administers the global watch and restricted lists for GBM&T, provides timely related conflicts management identification and advice and performs monitoring related to these functions.
The control room team also manages the research chaperone function and administers certain aspects of Scotiabank’s securities aggregation program, related beneficial ownership regulatory reporting and insider reporting obligations.
Ensures appropriate and effective compliance monitoring procedures and structures are in place and are operating effectively to meet the requirements for multiple jurisdictions including Canada, US, UK and Asia.
Reports monitoring results including KRIs, KPIs and trends to senior business personnel and compliance management in multiple jurisdictions including Canada, US, UK and Asia on a regular basis.
Works with Advisory Compliance teams globally to provide Control Room related compliance training to various business areas.
Works closely with the Compliance technology team and other stakeholders on control room related system upgrades and enhancements to create a best in class control room program.
Creates an environment in which their team pursues effective and efficient operations of their respective areas, while ensuring the adequacy, adherence to, and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework and the Scotiabank Code of Conduct.
Motivates their team by fostering an inclusive work environment, communicating vision/values/business strategy and managing succession and development planning for the team.
Responsible for reporting activities, trends and relevant remediation matters to governance forums as well as the timely escalation of conflicts.