Director, Operational Risk Program

Scotiabank; Old Toronto; Hybrid; CAD 90,000 - 150,000; Full time

Job summary

Join a forward-thinking bank as a Director of Operational Risk Program, where you will lead the Enterprise Operational Risk Event Program, ensuring compliance with regulatory standards. This role offers an opportunity to shape risk management strategies and drive a customer-focused culture. You'll be at the forefront of operational risk reporting and appetite development, working closely with senior management and the board. The bank fosters an inclusive environment that values creativity and collaboration, providing a competitive rewards package and opportunities for professional growth. If you are passionate about risk management and leadership, this role is perfect for you.

Benefits

Competitive Rewards Package

Performance Bonus

Company Matching Programs

Paid Vacation

Medical Benefits

Vision Benefits

Dental Benefits

Internal Training

Flexible Work Environment

Professional Development Opportunities

Qualifications

• Experience in risk management, process improvement, and change management.
• Strong communication and interpersonal skills to influence stakeholders.

Responsibilities

• Leads the Bank’s Enterprise Operational Risk Event Program.
• Supports strategic initiatives and liaises with internal and external stakeholders.
• Oversees reporting of Operational Risk Event data for regulatory purposes.

Skills

Risk Management

Process Improvement

Change Management

Interpersonal Skills

Communication Skills

Attention to Detail

Team Leadership

Fluency in Spanish

Education

Accounting Designation

Audit Experience

Job description

Director, Operational Risk Program

Requisition ID: 225245

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

Leads and oversees the Bank’s Enterprise Operational Risk Event Program, ensuring regulatory requirements, including OSFI’s E-21 and Basel III Standardized Approach requirements are met in relation to the collection, maintenance, and reporting of operational risk event data.

The incumbent is also responsible for the development and maintenance of the Bank’s Enterprise Operational Risk Appetite Statement and facilitating operational risk reporting for Senior Management and the Board.

The function is evolving as the Bank seeks to continually improve its operational risk management capabilities.

Is this role right for you? In this role, you will:

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

• Supports strategic initiatives within the Operational Risk team. This includes liaison with internal Bank stakeholders and external contacts and vendors as required.

• Supports identification of synergies and opportunities for alignment of the Operational Risk Program with other core risk programs such as Compliance and supporting change initiatives as assigned.

• Able to have strategic influence over key stakeholders and lead members of the team that may not have a reporting relationship.

• 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, AML/ATF/sanctions 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 behaviors; communicating vison/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.

• Champions a high-performance environment and contributes to an inclusive work environment.

• Maintains ongoing awareness of new and emerging regulatory guidelines, publications, and requirements relating to all aspects of operational risk.

• Represents the Bank in industry discussion to develop comments to regulators, CBA forums and the ORX industry group.

Operational Risk Event Reporting Program

• Leads the development and maintenance of the Bank’s Enterprise Operational Risk Event Reporting Program, covering the identification, collection, and reporting of Operational Risk Events, in a manner consistent with industry standards, and best practices, as well as regulatory requirements, including OSFI’s E-21 Guideline and Basel III Requirements.

• Acts as subject matter expert to other Operational Risk teams globally on matters relative to operational risk event reporting.

• Provides training to the business and other stakeholders on operational risk event collection and management.

• Oversees the aggregation and reporting of Operational Risk Event data, both internally (for Senior Management and to the Board) and for regulatory purposes (including the OSFI L3 report, and for the calculation of capital as per the Basel III Standardized Approach) to ensure completeness, timelines, and accuracy.

• Understands the expectations of the regulatory reporting activities within the unit and their alignment with Scotiabank’s Global Risk Management Regulatory Reporting Target Operating Model, associated Policies, Procedures, and Standards.

• Executes regulatory reporting activities in accordance with the Bank’s Regulatory Reporting Target Operating Model Policies, internal processes, and controls.

• With support and oversight from the Operational Risk Data Analytics & Reporting team, ensures compliance of the ORE program with RDARR requirements and applicable data quality controls/ requirements.

Risk Appetite

• Leads the development and maintenance of the Bank’s Enterprise Operational Risk Appetite Statement.

• Monitors and reports on Enterprise, Business Line and Material Subsidiary risk appetite performance, and provides insights to management, senior executives, and the Board.

• Provides advice and counsel to Business Lines, Material Subsidiaries and Business units on matters pertaining to operational risk appetite, under the direction of the Enterprise Risk Management team.

Committee Reporting and Governance

• Supports the Secretary of the Operational Risk Committee by facilitating development of meeting agendas, committee materials, and maintaining committee records.

• Contributes to and oversees the development and finalization of quarterly operational risk reporting to the Board Risk Committee, under the direction of Enterprise Risk Management.

Non-Financial Risk Exceptions

• Leads the development and maintenance of the Bank’s Non-Financial Risk Exceptions program in a manner consistent with industry standards, and best practices.

• Acts as a subject matter expert to other Risk and business unit teams globally on matters related to exceptions and collaborates with Enterprise Risk Management and Global Compliance.

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:

• Experience in risk management, process improvement or change management.

• Experience in reporting to the Board and Senior Executives.

• Accounting designation or equivalent financial reporting experience.

• Audit experience.

• Experience leading teams.

• Fluency in written and spoken Spanish is preferred.

• Expert interpersonal and relationship building skills and strong communication skills are essential to influence and collaborate effectively with others.

• Superior written skills, high degree of judgment, and attention to detail.

• Ability to work on complex projects independently, within tight deadlines, adapts to changing deadlines and delivers materials.

What's in it for you?

• We have an inclusive and collaborative work environment that values curiosity & ownership, encourages pragmatic creativity (i.e. true innovation), and celebrates success!

• An inclusive working environment that encourages creativity, curiosity, and celebrates success!

• A rewarding career path with diverse opportunities for professional development

• Internal training to support your growth and enhance your skills

• Hybrid Work Environment

• A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision and dental benefits that start from day one and much more!

Location(s): Canada : Ontario : Toronto

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

At Scotiabank, 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. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.