Director, Canadian Financial Investigations & Governance and Business Management

Requisition ID: 208544

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Reporting to the Vice President, Financial Intelligence Unit (FIU), the Director, Canadian Financial Investigations & Governance and Business Management leads and oversees Governance & Business (G&B) Management within the Canadian Financial Intelligence Unit (FIU). They are responsible for audit/regulatory management, issues management, process/procedure enhancements, executive reporting, governance, business management, change management, communication, employee engagement, and projects/initiatives (among other things) within the Canadian FIU.  In addition, they lead and oversee FIU investigative teams, ensuring AML related regulatory obligations, business strategies, plans, and initiatives are executed/delivered in compliance with governing regulations, as well as internal policies and procedures.

The Director will execute/deliver business strategies, plans, and initiatives in compliance with governing regulations, the Global AML Program, and internal policies/procedures. They will also execute and administers the responsibilities, on behalf of the Vice President, Canadian FIU, for Scotiabank’s FIU day-to-day Transaction Monitoring Case Investigations, including timely disposition and proper regulatory reporting.  Lastly they will be responsible for G&B activities and operational processes, along with quality performance, within the Canadian FIU for Transaction Monitoring Case Investigations and facilitates regulatory AML reporting while providing advice and counsel to business lines regarding AML/ATF associated risk mitigation activities.  

Is this role right for you? In this role, you will perform:

• Governance & Business (G&B) Management
  • Supporting the VP, Canadian FIU in understanding enterprise-wide financial, regulatory, reputational, sanctions, and legal risks, and provides oversight and governance in all relevant business lines.
  • Collaborate and coordinate effectively with others within Global AML, Operations, other FIUs, and the Business Lines to affectively administer the Bank’s AML Program and mitigate risk efforts.
  • Drive audit/regulatory management, issues management, process/procedure enhancements, executive reporting, and governance for the Canadian FIU.
  • Drive business management activities, change management, communication, and employee engagement (town halls, etc) for the Canadian FIU.
  • Collaborate (and lead where appropriate) with key TM stakeholders on audit/issue management and closure, reporting, communications & change management, process/procedure enhancements, resource tracking/planning, and special projects.
  • Establish and support the activities and the internal processes of the senior management AML committee(s).
  • Create a consolidated view of AML and Regulatory risk for VP, Canadian FIU and executive management.
  • Plan and develop board and executive committee agendas and material including consideration for reporting on pertinent AML related information, including, but not limited to, initiatives, compliance deficiencies, and corrective action taken.
  • Lead the design, assessment, and change management of Bank-wide initiatives on behalf of the VP, Canadian FIU.
• Investigations & STR Filings
  • Develop and implement the FIU Transaction Monitoring Case Investigations strategy for the efficient and effective execution of the assigned components of AML detection and reporting program.
  • Contribute to, and approve, policies and procedures for implementation of the AML Program, particularly for Transaction Monitoring Case Investigations. 
  • Monitor overall departmental performance and work quality, including, but not limited to, workload, staffing, change management implementation, quality control (management function to promote adherence to the SOP, following a risk-based approach function), quality assurance assessments (primary control for quality), training effectiveness, and other defined departmental performance measurements.
  • Collaborate and coordinate effectively with others within Global AML, Operations, other FIUs, and the Business Lines to affectively administer the Bank’s AML Program and mitigate risk efforts.
  • Oversee Transaction Monitoring Case Investigations of potentially suspicious transactions and provides guidance to ensure effective actions and resolutions for mitigating regulatory, financial, reputational, and legal risk to the Bank and Global AML.
  • Provide guidance and collaborate with other AML subject matter experts concerning Transaction Monitoring Case Investigations, including determining when there is suspicion that a transaction or an attempted transaction is related to the commission or attempted commission of a money laundering (ML) or terrorist financing (TF), and whether Clients represent high or unacceptable levels of risk. 
  • Maintain processes established for the actions required for referrals and information sharing involving sanctions, Corporate Security, law enforcement agencies, FINTRAC, or other FIU/SIU/SIUP requests. 
  • Ensure the timely (as soon as practicable) and accurate reporting of suspicious transaction reporting (STRs) to FINTRAC, in accordance with regulations.
  • Prepare recommendations for potential escalation to the Group CAMLO with respect to Client risk mitigation activities, including potential Client exits or retention with risk mitigation conditions. 
  • Provide operational and industry subject matter expertise and feedback to the Senior Managers, as well as to AML Models & Analytics (AMA) teams to facilitate their design and calibration of the Bank’s automated monitoring systems.
  • Participate in the design of appropriate management reporting (e.g. metrics for analyst productivity, conversion ratios, case aging etc.) to monitor the efficiency and effectiveness of investigative activities and to facilitate the reporting of identified operational risks to Senior Management.
  • Develop ongoing reporting that is focused on trends and includes proactive identification and reporting of emerging risks from different sources of information and across business units.
  • Establish communication and employee engagement strategies to reinforce ‘tone at the top’ creating a culture of compliance to ensure staff adheres to the Bank’s AML and Sanctions policies, procedures and processes, and all other Bank policies (e.g., financial, HR).
  • Oversee and manage proper remediation efforts and corrective actions, as assigned.
  • Understand how the Bank’s Risk Appetite Statementand risk culture should be considered in day-to-day activities and decisions. 
  • Create an environment in which teams, under his or her direction, pursue effective and efficient operations while ensuring the adequacy, adherence to, and effectiveness of business controls to meet obligations with respect to operational risk, regulatory risk, reputational risk, and compliance risk. Responsibilities include, but are not limited to, those defined under the Enterprise-wide AML & ATF and Sanctions Handbook, Scotiabank Code of Conduct, the Anti-Corruption Policy, Scotiabank Information Security Policy, Privacy Policy, and the Enterprise-Wide Risk Management Framework.
  • Build a high-performance environment by implementing a human resource strategy that retains, develops, and motivates their team, fostering an inclusive work environment, communicating Scotiabank’s and the Global AML Department’s visions, values, and business strategy. 
  • Strategically anticipate and identify the need for additional resources, leads the hiring and human resource development process, manages succession, and development planning for the team, by identifying and promoting high-performing individuals.
  • Establish proper oversight processes for 3rd parties, agents, and vendors, as applicable.
  • Contribute to, and/or lead, components of FIU/SIU/SIUP strategy, projects/initiatives, and ad-hoc requests, as required by the VP, Canadian FIU.

Do you have the skills that will enable you to succeed? We’d love to work with you if you have experience with:

• Bachelor’s Degree (University Degree) with a minimum of 7 years experience in AML, Compliance, Audit, and/or Change Management capacity in a major financial institution; or equivalent in education and years of experience.  
• Extensive knowledge of significant and relevant AML laws and regulations, particularly related to investigations. 
• Strong investigative skills and understanding of complex or unusual financial transactions.
• Proven ability to use excellent judgment and solid leadership.
• Demonstrated expertise leading AML functions at senior levels.
• Excellent writing, presentation, and analytical skills.
• Prior experience, organizational knowledge, and leadership skills within a large/global team.
• Proven ability to lead/drive rapid and significant change.
• Demonstrated ability to exercise sound judgment as to the materiality of risks where identified.
• Proven ability in determining required risk mitigation activities with appropriate consideration to the impact to the business line.
• Demonstrated ability to develop and maintain relationships with business leaders to support enterprise objectives, influence key stakeholders and jointly develop effective and realistic strategies.
• Excellent interpersonal, communication, negotiation, and strategic influencing skills. 
• Uses an analytical approach to problem solving, with a focus on managing a team environment coupled with attention to results and a sense of urgency.
• Strong technology background, coupled with equally strong financial and risk management knowledge.
• Certified Anti-Money Laundering Specialist designation is an asset.
• Exemplary integrity and ethics in all instances.

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
• You'll be part of a diverse, collaborative, innovative, and high-performing team
• We offer a competitive rewards package:
• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching
• Health Benefits from day one!
• You will relish work-life balance, team events, and opportunities to participate in the community.
• Your career matters!  You will have access to career development and progression opportunities.

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, 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.