Associate, Operational Risk Oversight
Scotiabank
Toronto, ON, CA
14d ago

Join the Global Community of Scotiabankers to help customers become better off. Job Purpose

Assist with the management of regulatory compliance risk inherent in capital markets activities by helping Global Banking & Markets (GBM) Management to design, test, monitor and report on controls over regulatory risk.

Assist in the planning and execution of testing key controls and assess their adequacy to effectively manage operational risks of the respective GBM business lines (Line 1A in the three lines of defense model for managing operational risks) and thereby contributing to the overall success of the first line of defense in managing operational risks inherent in the businesses.

Key Accountabilities

  • Assist in the implementation of the Bank’s Regulatory Compliance Management (RCM) program for GBM;
  • Assist in the RCM enhancement organized by Scotiabank Compliance;
  • Assist with the policy determinations and decisions within the strategic framework set by the SVP, Head of ORO.
  • Support Associate Director and Director, ORO in the development of internal policies and procedures to reflect rule changes from various regulatory bodies;
  • Assist in coordinating with regional ORO locations to enhance and manage GBM compliance programs to comply with applicable regulations;
  • Assist in the development, planning and execution of GBM first line test program for the periodic testing of key controls to assess their design and operating effectiveness in managing operational risks in the respective GBM business lines;
  • Assist in providing regular reporting to GBM Management of the condition of internal controls in the respective business lines including analyses of root causes of control breakdowns and determines appropriate corrective actions;
  • Assist in the maintenance of Issues Tracking Database for the First Line testing and provide summary updates to GBM Management at least quarterly basis;
  • Assist in the follow-up of open issues identified from the first line testing and ensure recommended corrective actions have been remediated;
  • Maintain current knowledge of applicable regulatory requirements through participation in industry associations and seminars;
  • Maintain regular communication with GBM Compliance to determine changes to regulatory rules and understand their impact on various GBM business units;
  • Assist in updating and documenting key controls recorded in eRCM (Enterprise Regulatory Compliance Management) TR Connect system to reflect impact of internal audit findings, regulatory findings, compliance testing results and any other self-identified issues;
  • Assist in identifying and addressing underlying causes of control breakdowns or instances where controls are inadequate
  • Assist in the maintenance and updates of key controls inventory for GBM business lines (1st Line);
  • Support the applicable Business Lines by responding to questions about internal control matters;
  • Other duties and projects as may be assigned from time to time.
  • Education / Work Experience

  • At least five years’ experience in a trading and operational risk management role;
  • In-depth knowledge of capital markets business;
  • Expert knowledge of internal controls;
  • Strong written and verbal communications and inter-personal skills.
  • As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries.

    We value the unique skills and experiences each individual brings to the bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone.

    Candidates selected for an interview will be contacted directly. If you require accommodation during the recruitment and selection process, please let us know.

    We will work with you to provide as seamless a recruitment experience as possible.

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