Title:  Director, First Line Control Programs

Requisition ID: 220958

 Salary Range: 180,000.00 - 301,500.00 

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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! 

Purpose

Responsible for development and oversight of implementation of operational risk framework across business and control & support functions (CSF) (as delegated by Management) in GBM US.

What You’ll Do   

Executive Management

• Executive Leadership: Lead and deliver on special projects within Internal Controls, ensuring alignment with organizational goals. Manage relationships with key stakeholders to drive project success.
• Team Development: Foster an inclusive work environment, motivating and developing the team by communicating vision, values, and business strategy. Lead the team effectively through change, maintaining a positive attitude and mentality.
• Program Accountability: Demonstrate accountability of programs under remit through satisfactory internal audit results, external exams, and proactive identification of self-identified issues.
• Program Enhancements: Continuously seek program enhancements from both operational efficiency and effectiveness perspectives. This includes evaluating improvements from all angles, including people, processes (e.g., policies, procedures), and tooling (e.g., automation). While addressing operational needs, balance program enhancements to deliver business value and align with industry standards where required.
• Regulatory Engagement: Lead regulatory conversations, driving strategic alignment with the bank’s risk and control framework, ensuring positive outcomes from continuous discussions and regulatory engagements.

First Line Control Testing

• Strategic Leadership: Provide leadership and strategic direction for the US First Line Testing program, ensuring testing of key controls supports the identification of material issues to manage operational risks across US GBM business lines and control support functions.
• Executive Accountability: Oversee the design and execution of testing for local requirements applicable to the US, evaluating and reporting on the adequacy of key controls' design and operational effectiveness to Steering Committees and executive management. Identify process improvements and efficiencies to the overall First Line Testing program, ensuring a scalable and sustainable process.

Risk & Control Self-Assessment Program

• Executive Accountability: Ensure that the first line executes the RSCA program in strict alignment with established standards, policies, and procedures. This includes ensuring that the RSCA program is consistently applied across all business units, regularly reviewed for compliance, and updated to reflect current best practices and regulatory requirements.
• Program Enhancement: Elevate the RSCA program to meet both business and regulatory expectations by implementing strategic improvements. This includes integrating advanced risk assessment tools, enhancing capabilities, and fostering a culture of continuous improvement. Ensure the program is robust, scalable, and capable of providing comprehensive risk insights that support informed decision-making across the organization.

Regulatory & Non-Financial Risk Control Library

• Comprehensive Management: Ensure the regulatory control library is comprehensive, with all obligations mapped accurately and promptly. Develop and enhance the non-financial risk control library.
• Timely Mapping: Perform timely and complete mapping of material regulatory obligations.
• Program Enhancement: Identify process improvements and efficiencies to ensure a scalable and sustainable process, aligning with global standards where possible.

Operational Resilience

• Program Integration: Partner with the Business to ensure the Internal Control requirements for the Operational Resilience program are met in a timely and quality manner. Embed Operational Resilience within other risk programs owned by the First Line, such as RSCA and TPRM.
• Industry Expertise: Provide industry expertise and thought leadership to improve the program and enhance the maturity of Operational Resilience within Global Banking & Markets.

Trade Floor Supervision

• Executive Oversight: Provide executive oversight of the trade floor supervision team, supporting business operations. Ensure effective supervision and support of trade floor activities.
• Program Enhancement: Identify process improvements and efficiencies to ensure a scalable and sustainable process, aligning with global standards where possible.
   

What You’ll Bring 

• Educational Background: Possess a University Degree, MBA, CFA, CIA, or equivalent, with a minimum of 15 years of experience, preferably in capital markets, and experience in operational risk processes.
• Internal Controls Expertise: Demonstrate expert-level knowledge and practical experience in internal controls. Ability to bring industry expertise and apply within Scotiabank environment.
• Executive Presence: Exhibit significant maturity, credibility, and sound judgment when engaging with senior management, the Board of Directors, and C-Suite executives across business lines, risk management, and support groups.
• Leadership Through Change: Ability to lead teams through significant changes, achieving the right outcomes while maintaining a positive attitude.
• Communication Skills: Possess exceptional written and verbal communication skills, along with strong interpersonal abilities to effectively interact with diverse stakeholders across the bank.
• Regulatory Experience: Proven experience in leading and influencing regulatory conversations, ensuring strategic alignment and positive outcomes in regulatory engagements.

Work Arrangement

• Dynamic Environment: The role is based in a dynamic, fast-paced office environment, requiring intense focus and time management skills to effectively manage competing priorities.
• Travel Requirements: Occasional travel is required.
• Extended Work Hours: Work hours may be long due to tight timeframes, the dynamic nature of capital market activities, and the need to provide support to other locations.

Interested?

If your experience is closely related but doesn’t align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank! 

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture. 

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. 

Location(s):  United States : New York : New York City

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.