Director, Regulatory Reporting

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

The Regulatory Reporting team in FAR manages and oversees financial regulatory reporting for the consolidated Bank and assigned subsidiaries. This is a critical and highly visible area for the Bank and includes governance of the process, monitoring Bank compliance with filing requirements, change and project management for new or enhanced returns, relationship management with regulators (e.g. Office of the Superintendent of Financial Institutions, Bank of Canada, and Canada Deposit Insurance Corporation), and meeting monthly, quarterly and annual filing requirements for the team’s returns.

The Director – Regulatory Reporting will share oversight of the Regulatory Reporting team in FAR and will be responsible for maintaining the Regulatory Reporting Target Operating Model (RRTOM) for Canada. This role will focus on review and management of the day-to-day filing requirements with regulators and other financial reporting requirements, in cooperation with the current incumbent Director of Regulatory Reporting.

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

• Lead and drive a customer-focused culture throughout the team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Establish best-in-class processes and procedures with a focus on data quality and review.
• Direct the regulatory reporting of the Bank and assigned subsidiaries, including:
  • Interpreting regulatory requirements and sourcing data in conjunction with the Data Office.
  • Overseeing filings with the regulators (OSFI, Bank of Canada, StatsCan, CDIC).
  • Overseeing other financial disclosures provided to external parties (e.g., 13F securities filing with SEC, FR Y-7 to US Federal Reserve).
  • Representing the Bank on the CBA’s Regulatory Reporting Specialist Group.
  • Responding to regulator queries on various returns, as required.
• Participate in/lead key projects in Regulatory Reporting, including ongoing focus on the Regulatory Reporting Target Operating Model (RRTOM).
• Lead the team in establishing new procedures/documentation related to recently automated returns.
• Manage annual and other changes to regulatory reporting requirements from inception to implementation, including:
  • Initial impact assessment.
  • Communication of changes and impacts to senior management.
  • Strategy for compliance.
  • Design of new processes.
  • Testing to ensure compliance.
  • Status updates.
  • Education and training.
  • Quality Assurance processes within the team.
  • Reviews by internal counterparties such as Regulatory Risk Governance and US Quality Assurance.
  • Internal Audit reviews/responses.
• Meet all compliance reporting obligations for the team including, but not limited to, Regulatory Obligations.
• Track and report key performance and risk indicators including status of filings and resubmissions.
• 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 the team pursues effective and efficient operations in accordance with Scotiabank’s Values, its Code of Conduct, and Global Sales Principles.
• Build a high-performance environment and implement a people strategy that attracts, retains, develops, and motivates the team by fostering an inclusive work environment and using a coaching mindset.

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

• Chartered Professional Accountant, Chartered Accountant (or equivalent designation) with experience in financial institutions, possessing thorough knowledge of regulatory reporting, accounting policies, applications systems, and corporate governance. More specifically:
  • Expert understanding and ability to interpret regulatory reporting requirements as outlined by OFSI, BOC, and other regulators.
  • Thorough understanding of the complexities and interrelationships of the Bank's applications and financial reporting systems.
  • Experience in financial and regulatory control and analysis within the Bank.
• Effective leadership skills with the ability to contribute to business and strategic planning, resourcefulness, flexibility, and innovative thinking.
• Expert time management skills to manage a large number of recurring deliverables and day-to-day accountabilities through prioritization and delegation.
• Excellent written communication skills, with strong verbal presentation abilities suitable for exposure to executive management.
• Strong interpersonal skills suited for leading in a complex environment to oversee diverse deliverables and implement change.

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• Competitive rewards package: Performance bonus, Employee Share Ownership Program, Pension Plan Matching, and Health Benefits from day one!
• Access to career development and progression opportunities.

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.

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