| Purpose The Director, Business Risk Management (BRM) - Centralized Execution Colombia provides governance and oversight ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies, and procedures. The successful candidate will lead three teams of First Line & AML Testing, Communications Surveillance and Control Execution that supports Global Banking and Markets across multiple testing regimes and geographies. The role is a leadership position that is accountable for the execution of BRM program in Colombia. This role is a management level position and will have regular interaction with GBM Business partners as well as Senior/Executive Management. In addition to First Line Testing the Director will also oversee and lead the AML Testing Team as it relates to regulatory remediation programs that require quality assurance review (ie. OTC Remediation, OSC). Accountabilities - Provides strategic execution of the testing program for the periodic testing of First Line key controls to assess their design and operating effectiveness in managing operational risks in the respective GBM business lines.
- Ensure the execution of the AML Testing plan as it includes regulatory remediation programs that require quality assurance review (ie. OTC Remediation, OSC).
- Accountable for the execution of testing of local requirements applicable to the Canadian book of business.
- Maintains centralized oversight of the First Line & AML Testing program across other GBM jurisdictions.
- Accountable for feedback on the overall maturity and health of the First Line & AML controls to management on a periodic basis, including underlying causes of control breakdowns or instances where controls are inadequate.
- Accountable for follow-up and tracking of open issues to ensure recommended corrective actions have been remediated.
- Ensures regional AML and First Line Testing engagements are executed in accordance with the annual plan and informs GBM senior and executive management.
- Manages relationships with key stakeholders in the business and other control functions (e.g. GBM business units, Global Wholesale Operations, Global Operations, etc.).
- Maintains regular communication with GBM Compliance and Internal Audit to determine changes to regulatory rules and understand their impact on various GBM business units, and applicable controls
- Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Creates 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, and conduct risk.
- 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 vison/values/business strategy; and managing succession and development planning for the team.
- Prepare periodic reports to provide Working Groups with status of the local operation and deliverables relating to regulatory and non-regulatory remediation.
- Manages the execution of GBM Communication Supervision Procedures, planning the resources required to perform the review of level 1 alerts. This includes:
- Liaising with senior management and other internal parties regarding the resources required for review, assessment, disposition, and documentation of alert reviews in accordance with GBM Communication Supervision Procedures.
- Establishing controls to warrantee the confidentiality of the information and the concise and accurate record of review results.
- Defining internal processes to ensure timely escalation and documentation of alerts to Level 2 teams when required according to escalation procedures.
- Establishing best practices for supervision (roll out of training, new detection technology, coordination with support areas) while seeking input from multiple stakeholders.
- Working as part of the team providing subject matter expert on GBM Communication Supervision Procedures, liaising with internal and external stakeholders as required and fostering an environment of collaboration and best practices with other SMEs within GBM.
- Proactively identifying the various risks associated with GBM Communication Supervision Procedures and take appropriate steps to ensure compliance with regulatory requirements.
- Defining monitoring of supervisory activities for Communications Surveillance team and developing metrics that highlight the effectiveness of supervisory activities taking place.
Reporting Relationships (Job Titles only) Primary Manager: (include secondary Manager if applicable) | - Managing Director & Head, Business Risk Management
- General Manager SVP, GBS campus in Bogota
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| Direct Reports: | - Senior Manager, Communications Surveillance
- Associate Director, First Line & AML Testing
- Associate Director, Strategy and Standards
- Associate Director, Governance & Controls
| Shared Reports (solid/dotted if applicable): | · | Dimensions - Knowledge of regulations including but not limited to CFTC, NFA, OSFI, FINRA, FINTRAC, IIROC, FCA, MCD/MAR, EMIR, OSC, HKMA
- Supports GBM business units globally including Canada, U.S. Europe, Asia Pacific, Brazil, and Latin America
- The position may require multiple competing priorities with tight deadlines.
| Education / Experience / Other Information (include only those that are specific to the role) - Minimum 10I years’ experience in financial services with a Master’s degree in business administration, finance, or university degree preferably in Legal/Compliance or business administration, finance or equivalent work experience;
- Knowledge in markets and Banking products, wholesale banking products and operating model is an asset.
- Previous experience in an Audit,Compliance, Risk Management or similar testing related function is desired.
- In addition:
- An expert knowledge of regulatory compliance
- Strong analytical, investigative, reporting, and planning skills
- Outstanding written and spoken communication abilities
- Excellent leadership skills, interpersonal and conflict resolution skills
- Highly organized and capable of dealing with complex projects
- Bilingual (Spanish / English)
| Working Conditions - Work in a standard office-based environment; non-standard hours are a common occurrence
- Global coverage will require conference calls during Asian and European business hours
- Dynamic, fast paced office-based environment. Occasional travel may be required
- Demands can be unpredictable
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