Director, Operational Risk Program

Scotiabank; Toronto; On-site; CAD 90,000 - 120,000; Full time

Job summary

Join a leading bank in Toronto as a leader in the Enterprise Operational Risk Event Program. Oversee compliance with regulatory requirements, manage operational risk reporting, and support strategic initiatives while fostering an inclusive workplace culture. Benefit from diverse professional development opportunities and a competitive rewards package.

Benefits

Competitive rewards, including salary and bonuses

Pension and profit sharing

Comprehensive benefits from day one

Diverse professional development opportunities

Internal training to support growth

Qualifications

• Experience in risk management, process improvement, or change management.
• Experience reporting to the Board and Senior Executives.
• Experience leading teams.

Responsibilities

• Lead the development and maintenance of the Bank’s Operational Risk Event Reporting Program.
• Ensure compliance with regulatory requirements related to operational risk.
• Support the Operational Risk Committee by preparing agendas and materials.

Skills

Risk Management

Process Improvement

Change Management

Communication

Interpersonal Skills

Education

Accounting Designation

Job description

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Requisition ID: 225245

Join a purpose-driven, results-oriented team committed to an inclusive and high-performing culture.

Role Overview

The incumbent leads and oversees the Bank’s Enterprise Operational Risk Event Program, ensuring compliance with regulatory requirements, including OSFI’s E-21 and Basel III Standardized Approach, related to operational risk data collection, maintenance, and reporting.

Additionally, they are responsible for developing and maintaining the Bank’s Enterprise Operational Risk Appetite Statement and facilitating operational risk reporting for Senior Management and the Board.

The function is evolving to enhance the Bank’s operational risk management capabilities.

Key Responsibilities

1. Leadership and Strategy

• Lead a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Support strategic initiatives within the Operational Risk team, liaising with internal stakeholders and external contacts as required.
• Identify opportunities for aligning the Operational Risk Program with other risk programs such as Compliance and support change initiatives.
• Influence key stakeholders and lead team members without direct reporting lines.

Operational Risk Management

• Create an environment promoting effective and efficient operations aligned with the Bank’s Values, Code of Conduct, and Global Sales Principles.
• Ensure controls are adequate, adhered to, and effective to meet obligations related to operational, compliance, AML/ATF, sanctions, and conduct risks.
• Build a high-performance, inclusive environment, fostering development and motivation through coaching, communication, and succession planning.
• Understand how risk appetite and culture influence day-to-day activities and decisions.

Regulatory and Industry Engagement

• Maintain awareness of emerging regulatory guidelines and requirements related to operational risk.
• Represent the Bank in industry discussions, including regulator comments, CBA forums, and ORX industry groups.

Operational Risk Event Reporting

• Lead the development and maintenance of the Bank’s Operational Risk Event Reporting Program, ensuring compliance with industry standards and regulatory requirements.
• Serve as a subject matter expert on operational risk event reporting, providing training and oversight.
• Oversee aggregation and reporting of operational risk data internally and for regulatory purposes, ensuring accuracy and timeliness.

Regulatory Reporting and Data Quality

• Ensure compliance with the Bank’s Regulatory Reporting Target Operating Model, policies, and standards.
• Collaborate with Data Analytics & Reporting teams to maintain data quality and compliance with RDARR requirements.

Risk Appetite Monitoring and Reporting

• Develop and maintain the Bank’s Enterprise Operational Risk Appetite Statement.
• Monitor and report on risk appetite performance, providing insights to management and the Board.
• Advise business units on operational risk appetite matters.

Governance and Committee Support

• Support the Operational Risk Committee by preparing agendas, materials, and maintaining records.
• Oversee quarterly operational risk reporting to the Board Risk Committee.

Non-Financial Risk Exceptions

• Manage the Bank’s Non-Financial Risk Exceptions program, ensuring alignment with industry standards and best practices.
• Act as a subject matter expert on exceptions, collaborating with Risk and Compliance teams globally.

Required Skills and Experience

• Experience in risk management, process improvement, or change management.
• Experience reporting to the Board and Senior Executives.
• Accounting designation or equivalent financial reporting experience.
• Experience leading teams.
• Fluency in written and spoken Spanish is preferred.
• Strong interpersonal, relationship-building, and communication skills.
• Excellent written skills, judgment, and attention to detail.
• Ability to manage complex projects independently within tight deadlines, adapting as needed.

What’s in it for You?

• An inclusive, collaborative work environment that values curiosity, ownership, and celebrates success.
• Diverse professional development opportunities.
• Internal training to support growth.
• Competitive rewards, including salary, bonuses, pension, profit sharing, and comprehensive benefits from day one.

Location

Canada: Ontario: Toronto

About Scotiabank

Scotiabank is a leading bank in the Americas, guided by the purpose: "for every future." We help our customers, families, and communities succeed through a broad range of banking and financial services.

We value the unique skills each individual brings and are committed to an inclusive, accessible environment. Accommodations are available during the recruitment process upon request.

Candidates must apply online. We appreciate all interest, but only shortlisted candidates will be contacted.