Contributes to the overall success of the Global Sanctions team by ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.
- As a sanctions subject matter expert, and first point of contact, provide advisory services critical to the sustainment of Scotiabank’s Sanctions Program.
- Provide advice and counsel to business lines and compliance functions on sanctions regulatory requirements and associated policies and standards, including
- recommending approval or denial of customers with exposure to sanctioned countries, and
- analysing the risks identified through the annual enterprise-wide sanctions risk assessment and evaluating the effectiveness of sanctions controls.
- Draft and update internal guidance documents published by the Global Sanctions Office.
- Draft, review and update procedures for the Global Sanctions Office and maintain associated procedure logs.
- Review procedures and controls of business lines and relevant operating units to ensure consistency with Scotiabank’s Sanctions Program.
- Review sanctions hits escalated to the Global Sanctions Office and collaborate with business lines to ensure that hits are handled appropriately.
- Contribute to content, design and delivery of sanctions training programs and related education initiatives
- Contribute to content and design of Senior/Executive Management reporting on sanctions-related regulatory matters.
- Actively participate in sanctions-related internal audits and external regulatory reviews.
- Research all current, relevant sanctions laws, regulatory requirements and industry best practices.
- Build strong partnerships with Business Lines, Internal Audit, and other key stakeholders, and work collaboratively across functional teams to resolve open sanctions issues in a timely and effective manner.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Promote operational efficiency.
Education / Experience
- Juris Doctor/LL.B. with a minimum of 3 years of experience in AML/ATF, Sanctions, Compliance and/or Audit capacity in matrix financial organization; or its equivalent in education and years of experience.
- AML/ATF/Sanctions-related professional designation (e.g. CAMS, CGSS, CSS) must be maintained and/or obtained.
- Comprehensive knowledge of:
Canadian, US, and UN economic and anti-terrorism sanctions laws, and
The Canadian Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and Regulations.
- Working knowledge of AML/ATF and economic and anti-terrorism sanctions laws and regulatory standards in those international jurisdictions where Scotiabank does business.
- Thorough knowledge of international sanctions risk management standards and industry best practices.
- Solid market intelligence is required of the financial services industry in Canada and internationally where Scotiabank is located.
- Advanced analytical, problem-solving and critical thinking skills with solid organization and time management skills to deal with complex operational issues in a matrix organization.
- Demonstrated integrity when working with colleagues and leading others by setting example of required behaviours.
- Excellent written and verbal communication skills, able to manage difficult conversations.
- High client focus and high risk management focus.
- Proven ability to build strong cross-functional business relationships.
- Proven experience identifying and implementing process enhancements as well as the experience to oversee the resolution of process deficiencies and drive operational efficiency without compromising compliance requirements.
- Results oriented, highly motivated with a keen ability to influence others.
- Self-starter with ability to work with minimal supervision.
- Skilled proficiency with MS Office (Word, Excel, PowerPoint, Outlook) and other related productivity tools