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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!
Job Title: Manager, Regulatory Obligation & Risk Assessment, Swap Dealer and Derivatives Compliance Job Level: 007
Department: GBM&T Compliance
Business Line: Scotiabank Global Compliance
Purpose of Job:
Contributing to the overall success of Swap Dealer and Derivatives Compliance, this role ensures that individual goals, plans, and initiatives are executed and delivered in support of the team's business strategies and objectives. As a member of the Swap Dealer Compliance team, the incumbent supports the firm and the Chief Compliance Officer by providing day-to-day compliance guidance to relevant stakeholders. The role contributes to the ongoing development and enhancement of the Swap Dealer and Security-Based Swap Dealer Compliance programs and includes monitoring, oversight, and independent challenge of the firm's execution of its regulatory responsibilities.
The primary responsibilities of this position include providing advisory support on regulatory developments impacting the derivatives businesses, managing applicable swap dealer and derivatives compliance requirements, and executing program-related risk assessments. The role supports the Swap Dealer Compliance program and advises business lines on regulatory risks and controls, supporting the effective management of Scotiabank's CFTC Swap Dealer, SEC Security-Based Swap Dealer, and futures regulatory obligations, including cross-border swaps and futures activities. Key responsibilities also include managing regulatory change and the swap dealer and derivatives regulatory library; mapping regulations, risks, and controls to applicable business lines; executing program-related risk assessments; and overseeing the monthly review of swap-related open issues.
Reporting Relationships:
Reports to: Director, Swap Dealer and Derivatives Compliance, Compliance Operations
Supervises: N/A
Major Accountabilities:
• Manage and maintain a comprehensive regulatory obligations library for swap dealers, security-based swap dealers, and futures commission merchants, including extraterritorial mapping of obligations to businesses, products, and regions.
• Advise the Internal Controls Inventory Team Leader when reviewing policies, procedures, and document controls designed to address regulatory requirements.
• Partner with central compliance groups to manage and execute quarterly and annual risk assessments by providing subject matter expertise and governance. Collaborate with the CRA team to provide 2A inputs to the compliance risk assessments (CRCA) for swap dealer, security-based swap dealer, and futures commission merchants.
• Assist with unit-level CRCA and RCSA activities. Contribute to the Swap Dealer Compliance programs by providing input on risk assessment areas of focus, known gaps, and emerging risks.
• Identify and implement process improvements to streamline current practices, enhance swap dealer obligation data quality and reporting, and strengthen compliance risk and control assessments.
Education / Work Experience / Designations:
• Bachelor's degree required, with a minimum of three years of regulatory, compliance, and/or risk management experience.
• Familiarity with applicable SEC, CFTC, and NFA rules, including requirements relevant to international banks conducting institutional trading and sales, investment banking, investment management, and commercial banking.
• Experience reviewing policies and documenting controls that meet minimum standard requirements.
• Ability to manage multiple projects simultaneously and re-prioritize workloads as necessary.
• Strong analytical skills to understand project goals and translate them into meaningful action.
• Strong analytical and investigative skills.
• Ability to quickly review, assimilate, prioritize, and escalate issues to appropriate stakeholders.
• Solid ability to manage multiple compliance reviews and projects at the same time and meet timely deadlines.
• Strong written and spoken communication abilities.
• Excellent teamwork, interpersonal and conflict resolution skills.
• Highly organized and capable of dealing with complex projects.
• Bachelor's degree (or international equivalent).
• Knowledge in conducting Compliance Risk Assessments either as a subject matter expert providing ratings or as a member of a CRA team is a strong plus (but not required).
• Ability to speak, read, and write Spanish is preferred.
• Experience managing remote teams in a virtual environment is preferred.
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.
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Location(s): Dallas, TX
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.
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