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Manager, High Risk Client Oversight

Requisition ID: 207101

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

The Manager, High Risk Client Oversight (HRCO) is responsible for assisting with the facilitation and management of any high-risk customer activities escalated to AML Risk in Canadian Banking, Global Wealth Management (Canada) and other lines of business, as required. The role is critical in working with relevant stakeholders and acting as the relationship manager. The Manager should be experienced working independently and as a people manager. The Manager will be responsible for driving continuous improvement to the escalation process and develop ongoing mechanisms to manage other similar complex scenarios, while safeguarding quality and managing AML/ATF and Sanction risks.

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

• Manages work flow of escalations/record keeping of escalations to 2nd line. Ensures key milestones are met, while meeting productivity targets, and provide regular status reporting.

• Provide oversight on behalf of the Group CAMLO for all HRCO designated high-risk customer activities (EDD, STR, Sanctions, etc.) for Canada and Global Wealth, to make sure appropriate risk mitigation strategies have been applied by:

• Supporting the executing of the Terrorist Incident Group Event Response (TIGER) protocol and develop ongoing mechanisms to manage other similar complex scenarios, such as Production Orders, GRIDs, etc).

• Identifying monthly case oversight sampling based on an HRCO designated methodology, distribute cases across the team and conduct HRCO designated high-risk case reviews to ensure all identifiable risks have been mitigated;

• Preparing monthly reporting on oversight trends, observations and updates to senior leadership using Excel, Power BI, etc.

• Facilitating and participating in meetings with the relevant stakeholders as required

• Supporting the AML Advisory teams by driving consistent oversight and management of high-risk customers and ensuring appropriate decisions are obtained aligned with approved policies and processes

• Working with HRCO Senior Manager and/or the AML Advisory teams and the business to develop and articulate our customer risk appetite for particular customer segments and ensure this is applied to decision making

• Understanding and applying the Bank’s risk appetite and risk culture in day-to-day activities and decisions

• Identifying and suggesting ML/TF awareness training needs related to gaps and trends outlined in oversight observations for the purpose of improving appropriate risk mitigation strategies.

• Actively pursue effective and efficient operations of their 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, 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.

• Collaborate with partners (FIU, EDDU, Sanctions, etc.) in the review of business processes, resulting in recommendations to the HRCO Senior Manager for measurable improvements while leveraging reusable (process) components, structures and enterprise-wide technologies that are effective and efficient and ensuring that risk is minimized by:

• Conducting needs analyses to implement effective procedures and/or improve/replace with a more efficient customer centric AML/ATF/Sanction processes and procedures that will mitigate reputational, regulatory and financial risk to the bank

• Influencing change to policy that results in increased productivity with no increase to risk

• Enhancing the employee and customer experience while effectively managing AML/ATF/Sanction risk

• Identifying trends and potential ML/TF concerns and work with key stakeholders to ensure it is known and appropriate risk mitigation strategies are developed

• Initiate and manage projects working independently or within cross functional teams by:

• Collaborating on and developing proposals

• Coordinating with the enterprise training group and business lines to ensure appropriate training on managing high-risk customers is in place for relevant stakeholders and where relevant deliver training

• Establishing milestones and assessing work effort

• Working with a diverse working group, with varying expertise and job levels

• Ensuring all deliverables are completed within negotiated timeframes, and within established department guidelines and protocols, escalating as necessary

• Manage personal development to ensure knowledge and skills related to AML/ATF and Business Process Design are continually enhanced by:

• Researching best practices and the latest financial crimes (AML, TF and Sanctions) trends

• Taking Bank offered courses designed around people, process and technology

• Building relationships with internal and external partners

• Supervise and manage a designated team within HRCO:

• Establishing and monitor team goals and objectives to manage workload and performance.

• Provides mentoring, coaching, and feedback, and recommends actions and best practices regarding oversight of risk assessments, as appropriate.

• Communicates regularly with team members to identify challenges and obstacles related to the team’s objectives.

• Shares subject matter expertise and provides specialized advice, guidance, and direction to team members on ML/TF and other related issues as they pertain to oversight of the risk assessment

• Supports, mentors, and coaches team members for ongoing professional development to ensure that individuals and collective team knowledge is current and comprehensive to support the 2nd Line oversight process, and to ensure that decisions are based on a thorough understanding of risk and made in the context of relevant and full knowledge.

• Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset/behaviors; communicating vison/values/business strategy; and managing succession and development planning for the team.

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

• Undergraduate degree in Business, Finance, Accounting, Law, Operations Management with a minimum of 3 years of relevant experience in an AML/ATF operations and/or project management environment, within a matrix organization preferably in the Financial Services Industry

• Extensive investigative skills along with 5 years of documented AML or law enforcement experience may substitute for university degree requirements.

• Knowledge of local and relevant international AML laws and regulations

• Strong writing and analytical skills.

• Demonstrated ability to exercise sound judgment as to the materiality of risks identified.

• Proven ability in determining required risk mitigation activities with appropriate consideration to the impact to the business line.

• Good interpersonal and communication 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

• CAMS, or equivalent, designation an asset

• Exemplary integrity and ethics in all instances.

• Ability to research, identify gaps and trends through existing departments in the Bank or external vendor partners;

• Proficient, short and concise written and verbal skills required to prepare communications and interact effectively with other Bank departments and external parties;

• Excellent time management skills to meet strict deadlines and to satisfy the needs of a large client group

• Thorough knowledge of related regulatory requirements including KYC, AML, Anti-Terrorist Financing Policies, Compliance Control & Operational Risk Self-Assessments legislation and procedures;

• Thorough knowledge of the Bank’s interactive systems including Excel, PowerPoint, Word, Power BI, SharePoint, Acrobat

• Advanced knowledge of core AML systems (Oracle, Navaera, Certapay, IntraLink Applications (Customer Sales & Service, SalesBuilder, Print Manager, Wire Payment, Savings Account History, AML Online Reporting, ACI, Business Documentation, Item Retrieval, PPS Statements, KYC, etc), SCORE, HOD - Broadridge ADP BTS 061/191, Fenergo, AS400, Investigator Toolkit, Quantifind, risk assessments

• Advanced knowledge of reading AML related risk assessments and analysis

• Ability to communicate in French and/or Spanish is an asset.

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, 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.