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Director and Head, Internal Controls, Global Banking and Markets (GBM)

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Job ID 111070 Sep. 13, 2021 London, United Kingdom
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Purpose


The role contributes to the overall success of the Internal Control and AML Control functions in the UK and Ireland (together Europe) ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. The role provides strategic direction, leadership and oversight for non-financial risks in GBM Europe in compliance with governing regulations, internal policies and procedures. It is responsible for providing business line operating control oversight across the business, through four pillars of business line support: governance and controls, operational risk oversight, supervision of front office activities and AML business controls.

It chairs the Third-Party Risk Management sub-committee for the UK providing oversight for the risk management of internal and external third party providers of services and outsourced activities.

This role falls into scope under the Certification Regime and requires the individual to be internally ‘Certified’ as a significant harm function.



Accountabilities 


Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

Continuously challenge the control environment to identify the next value-added element in need of improvement.

Provides oversight to the implementation of controls, systems and processes to the business lines in GBM and GT Europe to enable the implementation of an effective non-financial risk program, with a particular focus on the identification of regulatory compliance risks.

Oversees and is responsible, with other stakeholders in the First, Second and Third lines, for all remediation plans vis-à-vis regulators.

Ensures the on-going monitoring of the fulfillment of all internal control responsibilities by the GBM business lines in Europe, from both a process and systems perspective:

providing oversight and direction to the business lines leads and those functions executing controls on behalf of the business lines;

ensuring that the business line program covers all aspects of the Bank’s first line of defense for non-financial risks in a three lines of defense model.

Maintains oversight of strategic roadmap for functional initiatives that impact GBM and GT Europe through:

Overseeing and managing inter-dependencies;

Engaging and directing executive level stakeholders to ensure effective execution of strategic initiatives;

Acting as a check and balance to the business and advising on the prioritization of competing strategic priorities e.g. cost transformation vs customer focused investment;

Ensuring projects and related outcomes align to compliance requirements and the bank’s values.

Provides direction, guidance and oversight on the implementation of global compliance and AML policies, procedures, and infrastructure within the business line. Ensures the business procedures and controls related to such policies are consistent with best practice and are adhered to by the business line; enable the identification, assessment and control of appropriate risks across the business line’s clients, products and services, countries and combination thereof.

Identifies and remediates business line internal control program deficiencies in a manner consistent with the all-Bank remediation plans, developing risk-based approaches and overseeing the implementation of these plans to completion.

Ensures all legal entities are supported by adequate resources to effectively execute on first line controls.

Embeds all elements of the risk appetite statement and risk appetite measures into activities to:

Embed prudent risk taking into the risk culture and day-to-day management of risk and ensures alignment between the approved risk appetite, planning and decision making;

Implement controls and processes to be able to effectively identify, monitor and report against allocated risk appetite measures; and

Act in a timely manner to ensure effective management, and where necessary mitigation, of material risk exposures, in particular those that are close to or exceed the approved risk appetite statement and/or risk appetite measures, and promptly escalate breaches in risk appetite to Global Risk Management.

Contributes to a high-performance environment and fosters an inclusive work environment; supporting the vison/values/business strategy for the team.


Dimensions

The scope of the role includes:

Oversight and governance of all 1st line non-financial risk programs in Europe: SBE, BNSL, SIDAC and any extra-territorial nexus.

Ability to manage complex matters within a highly regulated sector.

Complex regulatory and business environment.

Adherence to a number of different regulatory regimes including extra-territorial regulations impacting Europe as well as adapting to changing business model with respect of, but not limited to Brexit, MAR, MIFID II, EMIR, SFTR, Operational Resilience, Benchmark Rate Reform.


Education/Experience

Degree holder in Finance, Economics, Business Administration, Accounting or equivalent discipline preferred

The position requires experience at a senior level preferably in a global financial institution

Expert knowledge in regulatory compliance, corporate and investment banking and Capital Markets products and services.

Strong verbal and written communication skills.

To provide strategic direction, leadership and enhance the business model.

Substantial amount of senior experience in Internal Control and AML Control functions from a first, second- and third-line defense perspective.



Scotiabank is committed to providing an inclusive and accessible candidate experience. Only those candidates selected for an interview will be contacted. If you require accommodation during the recruitment and selection process, please let us know. We will work with you to meet your needs.

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