Senior Manager, Business Risk Management, Global Insurance (Toronto, ON))

Scotiabank•Toronto, ON

10d•Onsite

About The Position

Provides leadership and oversight of first‑line non‑financial risk programs for Global Insurance within the Canadian regulatory environment. The role ensures business strategies, plans and initiatives are executed in compliance with OSFI requirements, Canadian insurance regulations, and internal policies and frameworks. The Senior Manager ensures integrated and comprehensive business controls are in place to reinforce a strong risk and control culture, supporting operational risk, conduct risk, third‑party risk, privacy, ABAC, and compliance programs. The role contributes to the execution, monitoring, and continuous improvement of non‑financial risk programs and ensures best practices are consistently applied across the Canadian insurance business.

Requirements

University degree in business, finance, risk management or related field, with progressive experience in financial services and insurance.
Strong understanding of insurance businesses, including products, operations, systems and distribution practices in Canada.
Experience supporting first line non financial risk management, including risk and control assessments, issue identification and remediation tracking, identification of control gaps, recommending practical risk-based solutions and ongoing monitoring activities.
Experience working with Compliance, Internal Audit, and other control functions, including supporting reviews and tracking remediation actions.
Experience using risk indicators or data to identify trends, emerging risks, or control weaknesses.
Ability to influence and challenge stakeholders, providing effective first line risk input on business initiatives.
Strong written and verbal communication skills, with the ability to prepare clear, concise risk and issue summaries for management.
Ability to manage multiple priorities and deliver results in a high performing, flexible team environment.
Strong practical knowledge of power point (working knowledge of Power BI is an asset).
Demonstrated proficiency in PowerPoint (practical experience using Power BI is an asset).

Nice To Haves

working knowledge of Power BI is an asset
practical experience using Power BI is an asset

Responsibilities

Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Supports a strong risk and control culture by partnering with Insurance Canada teams to apply Bank policies, regulatory requirements, including OSFI Guidelines and provincial insurance regulations.
Supports the execution of core non-financial risk programs including privacy, ABAC, conduct and sales practices, AML, compliance requirements, operational risk, third party risk, and other first line responsibilities.
Coordinates key risk program activities such as Compliance Risk and Control Assessment (CRCA), Risk and Control Self-Assessment (RCSA), Key Risk Indicator (KRIs), Issues Management, risk assessments, and monitoring activities, ensuring results are documented and escalated as needed.
Supports the assessment and monitoring of insurance distribution activities, by identifying control gaps and recommending improvements.
Assists the business with understanding and implementing regulatory requirements by monitoring obligations, supporting regulatory change activities, and helping remediate compliance gaps.
Coordinates with internal audit, compliance testing, and risk review teams by supporting fieldwork, tracking remediation plans, validating completion, and escalating delays or deficiencies.
Contributes to the improvement of controls and risk frameworks by identifying issues, recommending enhancements, and assisting with implementation activities that strengthen operational soundness.
Monitors industry developments and emerging risks in insurance and financial services and provides relevant insights to business partners and leaders.
Builds strong working relationships with Global Wealth Management and Canadian Banking Business Risk Management teams, and enterprise partners.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Actively pursues effective and efficient operations of his/her 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/ATF/sanctions and conduct risk.
Champions a high performance environment and contributes to an inclusive work environment.
Supports Global Insurance operations within the Canadian market.
Works within a highly regulated environment governed by OSFI and provincial insurance regulators.
Supports insurance distribution activities across Canada.
Interacts with Canadian business partners, control functions, and enterprise risk and compliance teams.