Requisition ID: 183748

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

Purpose

Director of GBM IC UK leads the supervision of the third-largest trading floor in Scotiabank, providing oversight in the execution of the largest risk and control framework in in the region.

Scope and Coverage of role is significant and wide reaching across all Capital markets dealing in complex products, derivates and non-linear instruments across Equities, Commodities, Rates and FX asset classes, alongside Investment Banking, Corporate Banking, Cash Management, and Global Treasury. The complex environment is amplified further as UK operates under a heavily regulated environment involving UK PRA, FCA and SMCR regime, as well as far-reaching European rules (including MiFID II, EMIR) as well as demands of extra-territorial requirements (e.g. Volcker and Dodd Frank).

The role demands engagement across all senior stakeholders across the business and core support and control functions ensuring all aspects of the defined Internal Control mandate is implemented across the UK including business controls, strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures. Critical to the role is to lead a 1st line Internal Control team of seasoned professionals, with technical and experienced capability responsible for front line supervisory activities delegated by the Global Banking & Markets business lines.

Critical role leading a 1st line team of seasoned professionals responsible for supervisory activities delegated by the Global Banking & Markets business lines. The team is a significant contributor to the overall success of the first line of defense in managing operational risks inherent in the businesses. The Lead provides supervisory support and serves as a subject matter expert in the products and services offered by the businesses.

Accountabilities

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Provides SME knowledge, guidance and support to the team through delivery and oversight of all aspects of the Internal Control Mandate impacting all lines of business including, FLSS – Front Line Supervision; FLOR – First Line Operational Risk; and ICG – Internal Control Governance.
• Oversee team tasks proactively providing real-time guidance and support through delegation of book of work underpinning the mandate. This includes people management to ensure adequately resourced, effectively allocated, expectations of tasks are clear, tracking and progress monitored, and ensure that the tasks are clearly understood, documented and measured for performance review. Assist the Internal Control team with development.
• Coordinate Internal Control activity between businesses and other stakeholders (Global, Audit, Risk Mgmt., Compliance, Sr. Mgmt., control/support functions, etc.) in collaboration with team in Ireland, documenting the book of work, organized, and updated for regional consistency, alignment and efficiency.
• Act as the escalation point for all matters related to the business, investigate and remediate as necessary. Escalate on a timely basis to the head of GBM Internal Control Europe all critical issues including appropriate management information to support risk and control decision-making.
• Ensure operational risks of the GBM business lines are tightly controlled by proactively addressing operational control gaps, playing a lead role in providing solutions/support to address any control issues, reviewing operational losses to oversee any systemic weaknesses in processes are addressed, and evaluating the impact of any proposed changes to systems and processes on operational risk management.
• Ensure 1st line supervision of key controls in GBM & GT business lines in line with the bank’s framework requirement through implementation and oversight of risk assessments under the operational risk management framework including RCSA, CRCA and Risk ID exercises, Incidents and Investigations, and Scenario Analysis, alongside build out of controls libraries, both regulatory and non-regulatory.
• Manage the new initiative and product approval processes for GBM business lines liaise with key stakeholders (Compliance, Market Risk, Legal, Finance etc.) to understand and assess underlying risks and gather approvals from relevant parties. Coordinate operational readiness of new initiatives, governance and administrate the NIAC committee.
• Provide accurate, complete, and timely information for KRI/KPIs that support risk assessments, TPRM, New Business, FLSS, FLOR and for governance reporting and MI.
• Oversee 1st line communication surveillance of the business lines in London & Dublin. This includes engagement and support to the global comms and surveillance team for consistency and alignment of mandates, and to ensure all regulatory requirements are adhered to.
• Actively participate in preparing for regulatory and audit requests including collating information and providing responses;
• Manage the liaison between the GBM business lines and 2nd Line Risk Management & Compliance.
• Develop governance and procedures in coordination with the GBM 1st line business.
• Evaluate impact on operational risk management from changes resulting from business expansion into new geographies, new products and services, organic business growth, system changes/new implementation, regulatory requirements.
• Coordinate with Internal Control Governance team in the collation of information required by regulators and internal audit to facilitate the latter’s examinations/reviews
• Review regulatory and audit findings and work with business line management (Line 1A) to formulate responses, and ensures all issues (self-identified, second-line and audit) and action plans are implemented on time or escalated on time for risk acceptance with rationale.
• Act as the point of contact for all global initiatives, assessing impact, driving through solutions in UK to ensure alignment, consistency and support of the global mandate and programmes.
• Other duties and projects as may be assigned from time to time.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates 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.
• 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 and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team.

Experience/Education

• Extensive experience in trading and operational risk management from a first line of defence perspective
• In-depth end-to-end knowledge of the various capital markets businesses from front office to risk management to back office processing
• Expert knowledge of internal controls across the operational risk spectrum
• Strong communication both written and verbal, alongside inter-personal skills
• Self starter with good initiative and ability to challenge status quo to identify efficiencies and implement new solutions/processes
• Exceptional analytic and judgment skills
• Aptitude for learning new and existing systems and technology
• Business degree or equivalent

Location(s): England : Greater London : London

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.