Scotiabank

Director, AML Advisory

Scotiabank • $125K — $150K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
8 - 10 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Post-secondary degree with 8-10 years in AML, Compliance, Operational Risk Management or Audit.
  • Experience leading initiatives in a matrixed financial institution.
  • Proven track record in process enhancements and operational efficiency.
  • Strong understanding of operational risk management concepts.
  • Ability to build and develop talent within teams.'
  • Understanding of complex business structures and key data points.
  • Strong cross-functional relationship building and influence skills.
  • Excellent communication skills, particularly with senior executives.

Responsibilities

  • Oversee implementation of the Enterprise AML/ATF Program.
  • Assess effectiveness of AML controls within business lines.
  • Liaise between AML personnel and second-line functions.
  • Provide advisory services and expertise to business lines.
  • Guide policy interpretation and regulatory compliance.
  • Oversee client risk rating methodology execution.
  • Manage issues and development of action plans for remediation.
  • Drive team strategy and foster a high-performance culture.

Benefits

  • Champion a high-performance work environment.
  • Join a forward-thinking and collaborative team.
  • Access to a competitive compensation and benefits plan.
  • Opportunities to support community-focused initiatives.
  • Recognition for high performance with development opportunities.
Full Job Description
Requisition ID: 271696

The Director, AML Advisory is responsible for understanding the AML/ATF and Sanctions risk profile of the Bank and applicable business line(s) and supporting them in the identification and management of AML-related risks (including those relating to products, clients and/or geography). The Director is also responsible for highlighting and escalating elevated or unacceptable risks and guiding the business in the development, implementation and monitoring of first-line AML controls.

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

  • Implementation and oversight of the Enterprise AML/ATF Program:
    • Oversee the implementation of the Enterprise AML/ATF Program across the applicable business line(s) and/or unit(s).
    • Assess the effectiveness of first-line AML control execution and governance within the business, considering the structure and content of meetings and the quality and availability of management information and reporting.
    • Assess business-generated AML management information to ensure that metrics are appropriate and within tolerance and action plans are in place where necessary.
    • Liaise between business line AML personnel and other second-line functions such as Global AML Operations, Global Sanctions & Screening and AML Models & Analytics.
    • Assist in overseeing and implementing major initiatives and support global program pillars to advance a global-leading AML program.
  • Advisory services to the business line(s) (including branches and/or legal subsidiaries as applicable):
    • Provide advisory services and oversight to the business through participation in AML-related forums and timely response to ad hoc queries.
    • Provide subject-matter expertise to business and Enterprise project/working groups to contribute to the design and implementation of effective controls that are sustainable, scalable and client-focused.
    • Support annual training needs assessment and the development and implementation of related business line AML training.
    • Manage relationships with stakeholders within the business and other functions as necessary and act as the primary point of contact for sharing information between those teams.
  • Policy & Procedure guidance:
    • Provide expert guidance, advice and counsel to the business in the interpretation and application of regulatory obligations and applicable policies and support the development and implementation of procedures to ensure that these obligations are met. Ensure the regulatory obligations are properly mapped to AML controls.
    • Liaise between all three lines of defence to facilitate interpretation, clear understanding and proper implementation of the Bank's global AML/ATF & Sanctions Policy and related documentation.
  • Client Risk Rating (review execution of methodology and enhanced due diligence where applicable):
    • Provide oversight and advice relative to the implementation and ongoing execution of a client risk rating model / methodology to assess client suitability throughout the lifecycle (onboarding, periodic, and de-market where applicable).
    • Assess the business' effectiveness in identifying clients with elevated or unacceptable AML/ATF and Sanctions risks and managing or escalating issues accordingly.
    • Ensure that business procedures for the capture and updating of key client data points meet Enterprise and regulatory requirements and that enhanced due diligence is conducted when appropriate.
  • Control review and effectiveness assessment:
    • Review, assess and advise the business on ML/TF and Sanctions risks and the effectiveness of AML controls associated with new products, services and initiatives, ensuring ongoing involvement in the initiative where the implementation or enhancement of AML controls is required.
    • Review and assess ML/TF and Sanctions risks and mitigating controls associated with the onboarding, renewal or material amendment of third-party outsourcing arrangements.
    • Identify opportunities to evaluate existing controls and promote a culture of continuous monitoring during the normal course of engagement with business line partners.
  • Issues management oversight:
    • Provide oversight and consultation to the business in the management of issues (self-identified, 2nd line testing, audit and regulatory) including advising on the development of management action plans and the assessment of remediation activities.
  • Team management and resource prioritization:
    • Manage team strategy, workload assignment and priorities ensuring alignment with departmental goals.
    • Act as the primary escalation point to ensure pace of execution of the team's mandate.
    • Structure the team and allocate resources appropriately to ensure that the team's mandate as an advisory service to the business is executed effectively and at pace.
  • Lead and drive a client-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge, understanding how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Build a high-performance environment and implement a people strategy that attracts, retains, develops and motivates top talent by fostering an inclusive work environment and using a coaching mindset and behaviors; clearly communicating vision/values/business strategy; and managing succession and development planning for the team.
  • Create 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 Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to mitigating AML/ATF & Sanctions risks (including operational, compliance, conduct, etc.).
  • Support technical excellence by being aware of internal/external best practices, monitoring industry and regulatory developments, sharing knowledge and encouraging others to do the same in the best interests of the team and the Bank.


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

  • Appropriate post-secondary degree with a minimum of 8-10 years of progressive leadership experience in AML, Compliance, Operational Risk Management and/or Audit in a matrixed financial institution (or equivalent education, certification and years of experience).
  • Proven ability to manage complex initiatives within tight timelines across different functions and deploy resources in a dynamic and fast-paced environment where priorities can quickly change.
  • Proven experience identifying and implementing process enhancements as well as the ability to oversee the resolution of process deficiencies and drive operational efficiency without compromising compliance requirements and/or risk mitigation objectives.
  • Strong fundamental understanding of operational risk management concepts and risk & control linkages.
  • Proven ability to build talent and provide appropriate levels of support to ensure that Senior Managers and Managers are equipped to assume greater responsibilities and advance their careers within Scotiabank.
  • Demonstrated integrity when working with colleagues and leading others by setting example of required behaviors.
  • Solid understanding of complex business structures and required personal and entity key data points.
  • In-depth understanding of the Bank's organizational structure, operations, policies, products and services.
  • Proven ability to build strong cross-functional business relationships, establish credibility and effectively influence and motivate other senior stakeholders across a wide range of strategic initiatives and agendas.
  • Efficient and well-organized with sound judgment, high client focus and high-risk management focus.
  • Excellent written and verbal communication skills, able to manage difficult conversations, and a proven ability to present to senior executives confidently and effectively.
  • Experience operating across multiple jurisdictions & geographical locations; functional fluency in Spanish is considered an asset.


What's in it for you?

  • Champion a high-performance environment and contribute to an inclusive work environment.
  • The opportunity to join a forward-thinking organization where you are surrounded by a collaborative team of innovative thinkers.
  • A competitive compensation and comprehensive benefits plan.
  • An organization committed to making a difference in our communities - for you and our customers.
  • You can expect to be recognized and rewarded for high-performance; you will be supported by leadership through meaningful development conversations that enable faster advancement and internal training to support your growth and development.


Location(s): Canada : Ontario : Toronto

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.

About Scotiabank

Scotiabankers are committed to helping individuals, companies, and communities to thrive in a changing world. From personal and business banking, brokerage, and insurance, to private wealth, and the most sophisticated commercial, corporate and institutional services, they serve the diverse needs of some 21 million customers in more than 55 countries. Founded in 1832 in Halifax, Nova Scotia, their growth has always been fuelled by the success of their customers and their longevity secured by an unshakable commitment to carefully and expertly managing risk and capital. That focus on doing what's right for customers—short- andlong-term—has made us a global financial services leader. Headquartered in Canada, they are over 86, 000 Scotiabankers strong. Each of us are committed to being the best at understanding their customers' needs and all of us working together to deliver practical advice and relevant solutions that help their customers become financially better off.

Scotiabank Careers

Join Scotiabank, a premier financial institution, and become part of a diverse and inclusive team that’s leading the way in global banking. At Scotiabank, we offer more than just job opportunities; we provide a platform for professional growth and innovation in the financial services industry.

Work You’ll Do

At Scotiabank, we’re not just filling positions; we’re cultivating leaders. Dive into a workplace where diversity training and leadership development shape the path to your future. Our commitment to professional growth is evident in our robust training programs and continuous learning opportunities that foster innovation and strategic thinking.

Explore a World of Opportunities

Whether you’re looking for a full-time position, an internship, or a leadership role, Scotiabank has a spectrum of opportunities to fit your career ambitions. Our team is composed of individuals who bring a wealth of skills and perspectives to our company, driving us forward with their creativity and strategic insights.

Innovative Work Environment

Scotiabank’s culture is one of collaboration and respect, where each team member’s contribution is valued. Engage in meaningful work that challenges you to leverage your skills and push the boundaries of what’s possible in the banking sector. Our innovative projects not only support the growth of the company but also ensure our position as a leader in the industry.

Benefits and Growth

Choosing a career at Scotiabank means opting for a life of growth and opportunity. Our employees enjoy competitive benefits, including comprehensive health coverage, retirement plans, and flexible working conditions, all designed to support your career and personal life. We believe in nurturing our team’s potential by providing them with the tools they need to succeed both professionally and personally.

Join Our Team

Ready to take the next step in your career? Explore the job opportunities at Scotiabank by searching our open positions that match your skills and interests. We are continuously hiring and looking for passionate, curious, and solution-driven team players.

Networking and Professional Development

Stay connected and advance your career through Scotiabank’s extensive networking opportunities. Participate in events that connect you with other professionals and leaders within the industry. Our career resources will help you prepare your resume, ace your interviews, and land the job that best suits your career goals.

Stay Ahead

Keep up to date with the latest in career tips, industry insights, and company news—all from the people who work here at Scotiabank. Personalize your experience by subscribing to job alert emails tailored to your preferences and be the first to know about new openings and exciting developments. Join Scotiabank and be part of a team that values integrity, respect, and accountability. Discover how your career can flourish in an environment committed to your professional development and personal growth.
Learn more about Scotiabank
Size
90,619 employees
Market Cap
$57.5 billion
Industry
Finance & Insurance
5 Year Trend
+7%
NASDAQ
BNS
* Ladders Estimates

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