Job Information
Scotiabank Regulatory Practice Partner in Ottawa, Ontario
Regulatory Practice Partner
Requisition ID: 206908
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
MD Management Limited, a division of Scotia Wealth Management, has an exciting opportunity for a talented, enthusiastic, and client-focused Regulatory Practice Partner to join our team in multiple locations across Canada. Ottawa, Vancouver, Victoria, Edmonton, Calgary Toronto, North York, Hamilton, Kingston and Halifax.
The Regulatory Practice Partner is responsible supporting regional leadership with effective management and oversight of regulatory and compliance activities occurring in the region. The role will report to the Senior Manager, Regulatory and Business Risk with a dotted line the Regional Head. The Regional Head is responsible for overall supervision of their region. This role provides governance oversight support as a core method to help manage regulatory risk within the regional offices which includes assisting the Regional Head (RH) and Regional Managers (RM) with their regulatory obligations. The role will provide support in the form of advice, monitoring, testing and reviewing of regulatory and compliance issues with the objective of fostering a risk-based culture that supports risk mitigation while also improving the overall client experience. The role will work closely with key partners in Regulatory, Compliance and Practice Management.
Is this role right for you? In this role you will:
Champion a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Monitor regulatory changes and understand industry best practice with a view to ensuring continued regulatory compliance and continuous improvement of the supervision/surveillance programs from the point of view of the business.
Work with key partners, a point of contact for regional leadership on regulatory topics (KYC, KYP, Account Supervision, AML, global tax programs, etc.).
Provide ad-hoc and focused regulatory and supervision reviews to enable regional leaders to be more effective in managing their oversight responsibilities and advisor charter metrics. Work closely with key partners during the review process and provides feedback to RH’s and RM’s on regional trends and expected outcomes i.e., deficiencies, file reviews, needed action plans etc.
Work with the Practice Lead and Regulatory Affairs, provides analytical assessments of data– provides opinions to Regional Leadership and identifies areas of concern where required. Ensures issues are well documented with action plans. Identifies systematic issues with the ability to summarize and provide consolidated feedback to direct management and regional leadership.
Oversee support for compensation - provides support for the collection of evidence of information for compensation reviews; highlights areas of concern i.e., conflict of interest; ensures proper evidence and action plans are being documented, logged and tracked. The intent being to support and enable the RH with the oversight and to provide a business line effective challenge on areas of concern.
Provide reactive support and advice to regional leadership queries with respect to regulatory matters and spots opportunities to provide proactive support where needed i.e., support the Regional Manager with investigations as needed and provides feedback on deficiencies in order for them to coach advisors/admins.
Lead and supports supervision spot checks as well as monitoring and testing initiatives that may be identifed through day-to-day activities (ad-hoc) or be assigned by the Senior Manager, Business and Regulatory Risk i.e., insurance supervision monitoring, KYC testing, file review support for the RH. Responsible for documenting consolidated reports based on outcomes.
Provide audit support and advice to the RH (and RMs) during branch exams which includes documenting and tracking of action plans, as needed, and provides effective challenge and advice to key partners.
Act as representative to the business to update and maintain regional policies and procedures to appropriately address identified risks and monitor the effectiveness of these policies and procedures; work closely with key partners including, Practice Lead, Regulatory Affairs, Compliance, RHs, RM’s, to ensure optimal processes and systems are developed, leveraged and implemented nationally, when warranted.
Work closely with the Senior Manager, Regulatory Affairs to ensure the regulatory control library remains current as it pertains to regional processes and controls that have a regulatory impact.
Ensure regional / business level processes and procedures are properly executed, documented, and reviewed. Will lead and support the RH with updates to regional policies, procedures and Work Instruction’s (WI’s); as needed, which includes the internal website.
Work closely with Regional Heads and key partners to develop and implement regulatory initiatives with a view to enhancing the client experience and overall business strategy while also minimizing regulatory risk.
Coach and mentoring RHs and RMs in all regulatory areas, as needed, with the support of key Partners and working closely with the Practice Lead.
Communicate with regional leadership teams regarding upcoming compliance requirements, training programs and implementation of related policies and procedures (i.e., attends monthly regional calls with the Practice Lead)
Engage with regulatory subject matter expert on relevant project work impacting the region.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Actively pursue effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
The Must Haves:
Knowledgeable about securities, regulatory environment and ethical standards.
Bachelor’s degree preferable with relevant experience in the financial industry preferably within a regulatory compliance, audit or risk function
Completion of key core securities courses such as the Canadian Securities Course (CSC) and the Conduct and Practices (CPH), Investment Dealer Supervisors Course (CIRO_
5-10 years experience working with a CIRO member firm or securities commission regulated firm an asset;
Ability to manage multiple projects with limited direction.
Must be able to be licensed with CIRO as a Supervisor
Commitment to on-going industry education and CE requirements to remain registered
Do you have the skills that will enable you to succeed in this role? – We’d love to work with you if you have:
Strong strategic influencing skills are necessary to effect change.
Ability to use professional judgement to resolve sensitive issues and to formulate alternative solutions to problems.
Able to assess difficult compliance and other regulatory issues, exercise sound judgment expeditiously with respect to such issues, defend decisions with key partners.
Ability to understand key business drivers and tailor business solutions to minimize regulatory risk
Ability to operate at both strategic and operational level
Excellent drafting and analytical skills and strong communication skills
Ability to build strong working relationships with a wide range of stakeholders including senior management, business line staff and external partners to help and develop long term relationships.
Demonstrated organization, facilitation, communication, and presentation skills.
Location(s): Canada : Ontario : Ottawa
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, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . 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.