Manager, Business Controls

Scotiabank; Toronto; Hybrid; CAD 110,000 - 145,000; Full time

Benefits offered by this job

Hybrid work model

Job summary

Scotiabank is seeking a Manager, Business Controls and Regulatory Reporting to strengthen the RESL portfolio’s compliance with lending policies and protect the bank’s legal interests from operational risk. You will support RESL, SMA, Sales & Service, Mortgage Operations and related areas, and act as back-up for BCP contacts.

Location: Ontario, Toronto. This role requires strong analytical abilities, policy development experience, and the capacity to work in a hybrid environment with a focus on

Qualifications

• Post-secondary education with related work experience focused in financial services compliance and regulatory support.
• Knowledge of the Canadian residential market, industry trends and regional market differences.
• Knowledge of RESL policies and procedures across all delivery channels and centralized processing units.
• Strong analytical skills to evaluate issues and opportunities, with the ability to synthesize information for policy, compliance and regulatory recommendations.
• Excellent writing and communication skills for reports and business cases for senior audiences.
• Ability to work both independently and in a team environment.

Responsibilities

• Oversee RESL governance and compliance policies, reports and issues (Customer Privacy, KYC, AML/ATF).
• Contribute to policy development and updates to reflect regulatory changes.
• Design tactical compliance strategies across delivery channels and ensure changes meet requirements.
• Support external regulatory agencies (OSFI, FCAC, CBA) as department contact.
• Investigate governance and compliance issues raised by regulators to ensure RESL compliance.
• Provide input on position papers and submissions to government for negotiation and lobbying.
• Project manage from inception to post-implementation for regulatory changes.
• Update disclosures and documentation for RESL products in response to regulatory impact.
• Prepare and review detailed external compliance reports for OSFI and other certifications.

Skills

Analytical thinking

Written communication

Team collaboration

Independent work

Adaptability

Customer focus

Education

Post-secondary education in financial services compliance

Job description

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

As the Manager, Business Controls and Regulatory Reporting, you will contribute to the profitability of the Real Estate Secured Lending (RESL) portfolio by ensuring the Bank is compliant on all RESL lending policies, procedures and the Bank’s legal interests are protected from an operational and reputational risk perspective. You will also provide compliance-related operational support for the department and support areas (e.g. RESL, SMA, Sales & Service, Mortgage Operations, etc.) as needed, and will act as the back-up Business Continuity Planning (BCP) contact.

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

• Manage and assist in the oversight of RESL governance and compliance policies, reports and issues, including Customer Privacy, Know Your Customer process, AML/ATF statements, etc.
• Contribute to the development and review of new or updated policies and producers to ensure they remain appropriate, considering regulatory changes
• Design and recommend tactical level compliance strategies across all delivery channels and ensure the operational and system changes adhere to regulatory and compliance requirements
• Support the Senior Manager in their role as department point contact for external, federal and provincial regulatory agencies (e.g. OSFI, FCAC, CBA)
• Investigate governance and compliance issues raised by regulatory bodies to ensure RESL is compliant
• Research and provide input on position papers on proposed legislation affecting RESL for review by Senior and Executive Management and eventual inclusion in submissions to government for negotiation and lobbying
• Project manage to ensure from inception to implementation (and post review implementation) that all compliance and regulatory changes are appropriately implemented
• Update appropriate documentation (e.g. disclosures) of established, new or revised processes in the event of a compliance or regulatory impact for all RESL products
• Assist with the preparation and review of detailed external compliance reports for OSFI, annually or quarterly certifications as required
• Assist with all compliance self-assessments and quarterly and annually certification as required by the Bank Act, Trust and Loan Companies Act, FCAC, OSFI and Anti-Money Laundering legislation
• Manage monthly, quarterly and annual internal compliance trends and issues based reports for the Senior Management RESL
• Assist with development and/or preparation of reports to Global Compliance and Senior Management
• Provide input on agreements, new products or programs, and related documents that govern RESL products and services to ensure that appropriate disclosures are made and responsibilities are clearly defined
• Perform continuous reviews and improvements of regulatory reporting procedures to create efficiency and ensure accurate reporting. (e.g. Process Flows, Job Aids, Reporting Calendar, etc.)
• Ensure the delivery of a high standard of customer service and fostering overall customer satisfaction that is consistent with the core values at Scotiabank and Complaint Resolution Standards and Procedures

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

• Post-secondary education with related work experience focused in financial services compliance and regulatory support
• Knowledge of the Canadian residential market, industry trends, best practices and regional market differences
• Knowledge of RESL policies and proceduresacross all delivery channels and centralized processing units
• An understanding of how RESL products and programs function, including pricing, underwriting, servicing and accounting
• Strong analytical skills to evaluate issues and opportunities, with the ability to synthesize a variety of information to determine appropriate recommendations with respect to policy, compliance and regulatory requirements
• Proven ability to provide accurate and through recommendations, as results can have far-reaching consequences
• The ability to work both independently and build strong relationships in a team environment
• Excellent writing and communication skills, with the ability to prepare reports and business cases for senior audiences
• Strong customer focus orientation to support both internal and external customers
• Adaptability to an ever-evolving compliance and regulatory environment
• Comfortability working in a hybrid work environment

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.