Job Description

Requisition ID: 165996

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

The Director, Business Risk & Regulatory Management leads and oversees all regulatory initiatives, audit and testing engagements for Insurance in Canada, ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies, and procedures.

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

Implement and drive results by working with internal stakeholders and support groups to understand both the regulatory framework and risk management principles to ensure ongoing compliance. This includes leading all key regulatory, audit and testing initiatives and non-financial risk assessments impacting Insurance Canada.

• Ensure adherence to regulatory / compliance requirements that apply to the business
• Lead all internal, external, and third-party audits
• Identify, recommend, and implement preventative measures and internal controls to mitigate risk, through proactive monitoring and issue management governance
• Manage consolidated dashboard of KRIs and sales practice management
• Support the NIRA process and work with risk owners to identify and mitigate inherent risks
• Oversee management of insurance litigation files and work with finance and legal to determine provisioning
• Lead and drive proper risk culture within insurance Canada
• Coordinate and align with 1B and 2A functions on risk assessments and controls to close identified gaps
• Perform non-financial risk-related reporting and identify trends, emerging risks and develop action plans

Manage the regulatory and audit project implementation and strategic approach with senior management and functional areas.

• Collaborate with all support teams, senior management, and the field to ensure that the strategic approach is aligned with regulatory changes or audit/testing findings
• Lead workstream meetings and represent the initiatives at Senior Management and Steering Committees
• Develop project plans and overseeing project implementation and deliverables, including resources, and budgets
• Influence decisions, escalate issues for discussion and resolution
• Identify gaps in resourcing and advocate to management and functional areas for appropriate changes
• Assign and negotiate ownership of key project deliverables
• Manage end-to-end project workstreams to ensure deadlines are met and the regulatory initiatives and audit findings are implemented efficiently and effectively
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions
• Create an environment in which his/her team pursues 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
• Build a high-performance environment and implement a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team
• Lead and drive a customer-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:

• A post-secondary education in Business and/or Finance, or equivalent
• Significant years of experience in project management and/or regulatory reform initiatives; experience and knowledge in Insurance is highly preferred
• A strong understanding of risk management appetite, framework, and related policies
• Expert analytical and problem-solving capability
• Exceptional presentation and written communication skills
• Highly developed influencing skills
• A proven track record of meeting deliverables and managing within budget

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 . 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.