Job Information
Scotiabank Associate, GBM Internal Controls - Toronto in Toronto, Ontario
Associate, GBM Internal Controls - Toronto
Requisition ID: 208139
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
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
Assist and lead, as required, with the management of Operational Risk inherent in capital markets activities as part of the Internal Control group within Global Banking & Markets (GBM). The incumbent will monitor, review and report on the management of non-financial risks including operational risks within GBM. Responsibilities will include ensuring effective internal controls exist, address issues, as and when they arise and provide general support and oversight (as delegated by Management) in GBM.
The incumbent will perform supervisory activities delegated by the specific Global Banking & Markets business lines (Line 1A, in the three lines of defence model for managing operational risks),and supports/serves as a subject matter expert in the products and services offered by the business.
What You'll Do:
Support the regulatory compliance program related to the Global FX Code: assisting with the daily monitoring and escalation of FX Code Alerts, identify areas of improvement/development in the monitoring process.
Perform reviews and testing related to the Pre-Trade Mid-Market Marks (PTMM) Monitoring Program: daily testing comparing mid-market marks with end-of-day marks and intra-day references, which will be compiled and provided for supervisory review and sign-off. Periodic review of PTMM End-User Computing (EUC) Spreadsheets and inventory management.
Support the Business in delivering new initiatives: oversee the New Initiative Risk Assessment (NIRA) process as a 1B advisor, identifying relevant enterprise risk categories.
Assist in periodic review and updating of Written Supervisory Procedures (WSPs) by reviewing regulatory standards, industry best practices, recommendations from Senior Designated Supervisor, GBM compliance and Internal audit. Liaison with the Trading & Sales staff for periodic attestation of WSPs.
Ensure the GBM Operational Risk Management Framework is upheld and that the associated processes, including generating and reporting key metrics for discussion at Senior Management Operational Risk Committee meetings, reflect the key principles of the Framework.
Assist in maintaining and annual updating Volcker Desk Operating Plans (DOPs) in collaboration with the GBM Business Lines.
Assist in updating and documenting key controls recorded in RLM (Regulatory Library Management)
Review and escalate regulatory breaches (DFA and Canadian derivatives) to Trading Management and provide the appropriate commentary and feedback to the Bank’s regulatory group along with other daily monitoring work.
Assist in developing training materials and providing training to trading and sales desks regarding trading and sales controls; and
Provide support in preparing for regulatory, audit, and compliance reviews and requests for information.
Assist in periodic review of Compliance Risk and Control Assessment (CRCA) to support business units to highlight Inherent risks, control strength and residual risks areas for effective management of regulatory and compliance risks; and the Risk and Control Self Assessment (RCSA).Other duties and activities as may be assigned from time to time.
What You'll Bring:
At least five years’ experience in a risk management role
In-depth knowledge of capital markets business, financial instruments and OTC derivatives
Good knowledge of internal controls
Completion of CFA/FRM an asset
French is an asset
This role requires successful completion of the National Futures Association Swaps Proficiency Requirement (SPR) within 90 days of assuming the role
The incumbent is expected to maintain an in-depth knowledge of operational conditions throughout the applicable Business Lines and the state of regulatory matters, be able to resolve issues of non-compliance and to escalate issues promptly that are deemed to be serious, or have broad impact
Work Arrangement:
This position is currently a hybrid role, with the expectation that you will work at least 3 days a week in the office. Please note that this is subject to change based on the needs of the business.
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): Canada : Ontario : Toronto
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.