Director, Regulatory Relations

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

Global Banking and Markets

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group. Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!

Position:

Director, Regulatory Relations Group, Scotiabank U.S.

Overview

The incumbent supports with delivery of the Regulatory Relations Group (“RRG”) mandate in the United States and is responsible for managing and supporting supervisory interactions, including exam management, continuous monitoring, senior management discussions with supervisors. The incumbent will work with senior stakeholders in the three lines of defense, including Bank management and governance committees on regulatory topics. The role includes partnering closely with, and providing support, advice and guidance, to business unit and control function management to support their regulatory interactions. The role also provides oversight and monitoring of remediation commitments made by Scotiabank U.S. to its regulators and oversees the preparation and delivery of formal responses to regulatory letters. The role also assists in development and execution of the RRG strategy to address heightened regulatory expectations and to enhance regulatory transparency.

Accountabilities

• Champions a customer focused culture to deepen regulatory relationships while leveraging broader Bank relationships, systems and knowledge:
  Manages coordination of interactions with U.S. regulators, including but not limited to:
• Providing oversight for regulatory examinations and supervisory interactions and be a central contact for regulators conducting supervisory activity for Scotiabank U.S.
• Managing and coordinating events related to examinations and continuous monitoring, including negotiating scope and timing of reviews, monitoring, and supporting delivery of requested information, and coordinating and attending regulatory meetings with control functions and business unit personnel
• Leading and driving a high performing team, assisting the Bank with effective and transparent communications with the supervisors
• Build relationships with and collaborate with U.S. Business and Control Function Heads to provide guidance on regulatory matters and supporting their regulatory interactions
• Oversee, develop and assist with presentations for senior management meetings with regulatory stakeholders and regular reporting on regulatory matters to senior bank stakeholders and committees
• Oversight of development of regulatory responses in coordination with other senior stakeholders and management
• Providing oversight, monitoring and tracking of remediation commitments made by Scotiabank to Regulators and assist with regulatory governance forums
• Overseeing centralized issue management systems and repository where documents are stored, and previous examination memos and reports are archived
• Identifying risks arising from interactions with regulators and escalating them as appropriate
• Coordinates the Bank’s preparedness for new regulatory mandates as appropriate
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
• Champions a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.

Primary Manager:

Managing Director, U.S. Head of Regulatory Relations

Dimensions

• Legislated responsibilities require that Scotiabank have effective regulatory risk management program. This position is critical to maintaining overall effectiveness of the program and to identify and address issues that can result in substantial regulatory and/or reputational risk.
• General dimensions involve working in a continually evolving discipline where expectations are constantly changing and expanding, thereby, necessitating an ability to stay informed of emerging issues and both innovative and critical thinking skills to foster a continuous improvement environment.
• Exercises sound judgment and is guided by experience. Scotiabank policies and procedures along with legal and regulatory requirements and industry best practices.
• Exhibits innovation and creativity to oversee the development of programs and policies.

Education / Experience / Other Information:

• Bachelor’s degree. Master’s, MBA/JD a plus.
• Ten plus years of progressive, senior level experience at a Prudential Regulatory Agency, Financial Services Firm, Consulting Firm, or a similar position in the financial services industry.
• A detailed and in-depth understanding of financial markets, products and control functions.
• Excellent written and oral communication, with strong presentation and interpersonal skills to effectively guide internal and external partners.
• Attention to detail, strong planning and organization skills, with ability to multitask and manage changing priorities.
• Ability to work independently with both regulatory staff and senior Bank personnel.
• Prior experience managing a team of professionals.
• Strong Office productivity skills (MS PowerPoint, Word, Excel)

Working Conditions

Work in a standard office-based environment; non-standard hours are a common occurrence. The workload is demanding, subject to frequent time pressure with a steady flow of project delivery commitments, both internal and external, which carry specific deadlines. Workload is subject to continual prioritization due to changes of incoming requests.

What's in it for you?

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

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.

Scotiabank is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by federal, state, or local law.

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