Chief Operating Officer, Tangerine [Scotiabank]

Requisition ID: 206789

Tangerine is Canada's leading direct bank. We offer flexible and accessible banking options, innovative products, and award-winning Client service. The reason why Tangerine employees come to work each day is to help Canadians live better lives. We focus on making a difference in our communities, and that includes our own internal community. It's important to us that our employees feel empowered and enthusiastic about belonging to our Orange culture.

Position: Chief Operating Officer

About Tangerine

Tangerine is Canada's leading digital bank with 2MM+ customers, and $47bn+ in deposits and ~$6.5bn in investments AUM. Tangerine has embarked on a transformation and growth agenda, and has set itself an ambitious target of achieving an additional $30bn growth in deposits and investments, and 11% CAGR in revenue by 2028, with innovative client solutions and a superior client experience.

Purpose

The Chief Operating Officer (COO) is a critical leadership role within the organization, reporting directly to the Executive Vice President and Chief Executive Officer, Tangerine, and is a member of the Executive team. The COO is responsible for providing strategic direction, leadership, and oversight for the bank's operations, with a particular emphasis on automation and process improvement.

Will lead key functions, including fraud and collections operations, execution of internal controls (including quality assurance and complaints), and the continuous enhancement of client journeys within business operations.

The COO is responsible to develop, drive and execute the operational strategy for Tangerine with a focus on effectively and aggressively creating efficiency while delivering a world class client experience, building scalability into bank operations to handle customer growth, new products, new partnerships and additional complexity as well as enabling world class delivery of services to clients.

Responsible for developing and executing a digitization and automation roadmap for across operations, fraud & collections and internal controls, including the implementation of AI solutions.

Also accountable for ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures.

Accountabilities

Strategic Leadership

• Develop, drive, and execute the operational strategy, focusing on leveraging automation to streamline processes and improve efficiency.
• Implement advanced technologies and innovative solutions to optimize workflows, reduce manual tasks, and enhance operational effectiveness.
• Effectively translate corporate strategy into operational strategy and seamless execution plans.

Operational Excellence

• Develop and accomplish operational goals and objectives to support the Tangerine Operations strategy.
• Establish and maintain a culture of operational excellence, emphasizing continuous improvement and process optimization.
• Lead initiatives to automate and refine processes, ensuring they are scalable and capable of handling customer growth, new product launches, new partnerships, and increasing complexity.
• Implements real-time reporting and analysis, and reduce/eliminate manual reporting to ensure processes are completed within defined SLAs to ensure customer satisfaction.
• Ensure Tangerine leverages its low cost operating model and enhances its leadership in operational efficiency, focusing on simplicity.

Client Experience

• Deliver a world-class client experience by optimizing client journeys and ensuring seamless, efficient interactions across all touchpoints.
• Utilize automation to personalize and enhance the customer experience, driving satisfaction and loyalty.
• Fosters a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

Risk Management & Controls

• Oversee internal controls, fraud prevention, and collections operations, utilizing automated systems to enhance accuracy, security, and compliance.
• Develop and implement robust risk management frameworks that leverage technology to identify and mitigate potential issues.
• Enables and protects Tangerine's clients through effective leadership of the Operational elements of the Fraud, Collections, Internal Controls, and Business Support teams.
• Drives the focus on governance and compliance within the operation teams. Directs day-to-day activities in a manner consistent with the Bank's risk culture and the relevant risk appetite statement and limits.
• Communicates the Bank's risk culture and risk appetite statement throughout their teams.

Scalability and Growth

• Build scalable operations that support the bank's growth ambitions. Focus on automating processes to accommodate an expanding customer base and a more diverse product portfolio, ensuring operational agility and resilience.

Innovation

• Constantly assess competitive landscape and global innovations to support the Bank's strategic differentiation, bringing key service innovations to market in support of the bank's everyday banking strategy. Champions a culture of innovation within operations, including adoption of AI, to drive the digitization and automation strategy in operations, fraud and internal controls. Drive changes in mindset around how the bank organizes work and delivers services to customers that position Tangerine as a global leader in client experience and service delivery. Implement best and next practices and pioneer leading operational excellence. Foster a culture of continuous improvement and operational excellence throughout the bank.

Team Leadership

• Clearly communicate a vision to mobilize and energize the team, and encourage performance; create a high performing, performance driven culture that stimulates accountability and embraces change. Attract and retain top talent; develop and mentor future leadership within the organization; build a strong second layer and sound infrastructure for future growth with a focus on maintaining a value oriented culture. Challenge leaders to think differently, evolving and continuously improving operational performance.
• Embrace and ensure execution of Scotiabank's leadership competencies and values.
• Lead, coach and develop teams, bringing energy and passion for the business.
• Provide strong strategic leadership to motivate and develop leaders and build collaborative and cross-functional team performance.
• 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 vision/values/business strategy; and, managing succession and development planning for the team.

Education / Experience / Other Information

• University Degree with an MBA preferred.
• Minimum 15+ years of senior commercial leadership experience gained within a sophisticated, complex, fast-paced and innovation focused organization that are known for delivering a world class customer experience. Capable of moving into the SVP role in 2-3 years.
• Work experience in multiple functional disciplines, driving business and operations development, growth and transformation.
• Proven ability to create and articulate a vision, and develop and execute supportive strategies and plans for both the short and long term development; strong business acumen, strategic agility and a clearly demonstrated bottom-line orientation.
• Well-honed relationship building and negotiating skills.
• Demonstrated success in the leadership and management of well-aligned teams; an effective mentor, coach and motivator of teams.
• A partner and team player with a true teamwork ethic; works effectively and cooperatively with others; intrinsic collaborative approach.
• Brings a big-picture perspective; has the ability to see how all the pieces fit together and contribute to the achievement of broader organizational goals.
• A proactive self-starter with a strong work ethic and a high degree of personal integrity; takes ownership and likes to be held accountable for results; able and willing to make decisions.
• Strong analytical skills and creative judgement; looks for new opportunities and employs good judgement and rigor before making recommendations; open to change and willing to challenge the status quo.

Location(s): Canada : Ontario : Toronto

At Tangerine we value the unique skills and experiences each individual brings to the team, and are committed to creating and maintaining an inclusive and accessible environment. If you require accommodation during the recruitment and selection process, please let our Recruitment team know.