Manager, High-Risk Client Oversight (HRCO)

Scotiabank; Toronto; On-site; CAD 80,000 - 110,000; Full time

Job summary

A leading financial institution in Toronto is seeking a Manager for their AML team. As a vital part of the organization, you will handle high-risk client activities and enhance processes to manage risks effectively. The ideal candidate has a degree in a relevant field and extensive experience in AML operations. An excellent opportunity for career development and a competitive rewards package is offered, including health benefits and performance bonuses.

Benefits

Performance bonus

Employee Share Ownership Program

Health Benefits from day one

Team events and community participation

Qualifications

• Minimum of 3 years of relevant experience in an AML/ATF operations.
• Thorough knowledge of KYC, AML, Anti-Terrorist Financing Policies.
• Working knowledge of bank accounting and internal controls.

Responsibilities

• Manage workflow of escalations and ensure key milestones are met.
• Support the AML Advisory teams in managing high-risk clients.
• Initiate and manage projects within cross-functional teams.

Skills

Expert knowledge of CBW business unit functions

Excellent written and verbal skills

Excellent time management skills

Ability to research trends

Education

Undergraduate degree in Business, Finance, Accounting, Law, or Operations Management

Tools

Visio

BlueWorks

Excel

PowerPoint

Word

Job description

Overview

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. The Global AML 2nd line of defense for Canadian Banking and Wealth (CBW) serves as an escalation point for the business lines and units, as well as a facilitator for policy interpretations.

The Manager, HRCO, is responsible for assisting with the facilitation and management of any high-risk client activities escalated to Global AML in CBW (including International). The role is critical in working with relevant stakeholders and acting as the relationship manager. The Manager will be responsible for driving continuous improvement to the escalation process and developing ongoing mechanisms to manage other similar complex scenarios, while safeguarding quality and managing Global AML and Sanction risks.

Responsibilities

• Manage workflow of escalations to the 2nd line, ensure key milestones are met, recordkeeping is up to date, and provide regular status reporting.
• Provide oversight on behalf of the Group CAMLO for all high-risk client activities (EDD, STR, Sanctions, etc.) for CBW, to make sure appropriate risk mitigation strategies have been applied by:
• Execute the Terrorist Incident Group Event Response (TIGER) protocol and develop ongoing mechanisms to manage other similar complex scenarios, such as Production Orders
• Facilitate and participate in meetings with the relevant stakeholders, as required
• Support the AML Advisory teams by driving consistent oversight and management of high-risk clients and ensuring appropriate decisions are obtained and aligned with approved policies and processes
• Work with the AML Advisory teams and the business to develop and articulate our client risk appetite for particular client segments, and ensure this is applied to decision-making
• Collaborate with partners in the review of business processes, resulting in recommendations for measurable improvements while leveraging reusable (process) components, structures, and enterprise-wide technologies that are effective and efficient, and ensuring that risk is minimized by:
• Conduct needs analysis to implement effective procedures and/or improve/replace with a more efficient client-centric AML/ATF/Sanction process/procedure that will mitigate reputational, regulatory, and financial risk to the Bank
• Influence change to policy that results in increased productivity, with no increase in risk
• Enhance the employee and client experience while effectively managing Global AML/ATF/Sanction risk
• Identify trends and potential money laundering/terrorist financing (ML/TF) concerns, and work with key stakeholders to ensure appropriate risk mitigation strategies are developed
• Initiate and manage projects, working independently or within cross-functional teams by:
• Collaborate on and develop proposals
• Coordinate with the Enterprise Training Group and business lines to ensure appropriate training for managing high-risk clients is in place for relevant stakeholders, and, where applicable, delivering training
• Establish milestones and assessing work effort
• Work with a diverse working group, with varying expertise and job levels
• Ensure all deliverables are completed within negotiated timeframes and within established department guidelines and protocols, escalating as necessary
• Manage personal development to ensure knowledge and skills related to AML/ATF and Business Process Design are continually enhanced by:
• Researching best practices and AML trends
• Taking courses designed around people, process, and technology
• Building relationships with internal and external partners

Qualifications

• Undergraduate degree in Business, Finance, Accounting, Law, or Operations Management with a minimum of 3 years of relevant experience in an AML/ATF operations and/or project management environment within a matrix organization, preferably in the Financial Services Industry
• Expert knowledge of CBW business unit functions, procedures, products, policies, and how the various supporting units interact
• A working knowledge of bank accounting and internal controls
• Working knowledge of Process Mapping, including use of related software and tools (e.g., Visio, BlueWorks)
• Ability to research trends through existing departments in the Bank or external vendor partners
• Excellent written and verbal skills required to prepare communications and interact effectively with other Bank departments and external parties
• Excellent time management skills to satisfy the needs of a large client group
• Thorough knowledge of related regulatory requirements including KYC, AML, Anti-Terrorist Financing Policies, Compliance Control & Operational Risk Self-Assessments, legislation, and procedures
• Thorough knowledge of the Bank’s interactive systems including Excel, PowerPoint, and Word

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
• You'll be part of a diverse, collaborative, innovative, and high-performing team
• We offer a competitive rewards package:
• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching
• Health Benefits from day one!
• You will relish work-life balance, team events, and opportunities to participate in the community.
• Your career matters! You will have access to career development and progression opportunities.

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, please click here . 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.