Senior Manager, Operational Risk Management

Scotiabank   •  

Mississauga, ON

5 - 7 years

Posted 241 days ago

This job is no longer available.

As a Senior Manager, Operational Risk Management, you will contribute to the overall success of the Regulatory Operations & Controls team in Canada ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives.

Key Accountabilities

  • Risk and Control Self-Assessment (RCSA) Program: work collaboratively with business units (1A Compliance) and its keyinternal partners to identify, document and assess significant operationalrisks and controls through the RCSA Program; which is conducted on business units and/or key processes. RCSA related activities include:
    • Managing the RCSA preparation process by coordinating meetings and setting up and monitoring timelines; 
    • Coordinating the information gathering during the assessment phase;
    • Collaborating with the business units and key internal partners in the identification of key operational risks and control gaps;
    • Conducting due diligence and research to assess key risks raised by the business units;
    • Preparation of the RCSA Report for Senior Management; and,
    • Documenting the RCSA in ORMS.
  • Action Plans Monitoring: track and monitor completion of action plans; providing guidance to business units on completion of action plans.
  • Third Party Risk Management (TPRM) Tracking: track and reportcontract status, providing guidance to business units on completion of contracts and helping business with updatingcontracts on the system (VISTA). 
  • Loss Data Reporting: support the Director on quarterly loss data reporting by identifying and documenting the root cause of the incurred losses. In addition, helps impacted business units on developing meaningful action plans.
  • KRI Program Development: Support and challenge the business units in the development of their KRI program. Related activities include:
  • Monitoring and tracking of KRI breaches; providing consolidated quarterly reporting to Canadian Banking management team
  • Engaging with Global Operational Risk on quarterly reporting of all KRI’s
  • Refreshing and enhancing KRIs in collaboration with the business lines as they implement new initiatives, products, and services
  • Operating Handbook (1B Function): support the Director in the maintenance of the department's Operating Handbook which includes the department's Operating Model, Governance Structure, and Roles and Responsibilities that support the execution of the Bank's Operational Risk Framework within Canadian Banking.
  • Regulatory and Operational Risks: 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.
  • Relationship Management: maintain strong relationships with the Canadian Banking business units and applicable support and control functions to remain current on new developments and emerging risks.


  • Excellent problem solving, critical thinking, and negotiating skills
  • Excellent written and verbal skills (must be able to prepare documentation and interact effectively with other Bank departments)
  • Excellent leadership and time-management skills
  • Must maintain a current awareness of regulatory requirements and industry best practices in operational risk
  • Expert knowledge of Excel, PowerPoint, Word, and Visio
  • Post-secondary education in Business Administration, Accounting, Finance is an asset
  • 5-7 years of relevant experience is required

Requisition ID: 22918