OLB Senior Manager, Regulatory And Business Risk, Scotia Itrade - Toronto, ON

Requisition ID: #

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

Purpose of Job:

The Senior Manager will support the Director, Regulatory, Business Risk and Order Management in ensuring compliance with regulatory and business risk initiatives, focusing on trading, credit, fraud, and related operations. The Senior Manager will work closely with other SM Regulatory and the Account Supervision team with 1B functions and have responsibility and oversight of annual and quarterly certifications and key risk indicator reporting requirements, and as required, represent Scotia iTRADE on regulatory and compliance-related initiatives.

The individual will work closely with the Director and the other Senior Manager Regulatory to implement and drive results by working closely with internal stakeholders and support groups to bridge both the regulatory and risk management framework with the business needs, specific to Order management and trading operations, margin and credit, and Fraud management and mitigation.

Major Accountabilities:

1. Manage the Business line component of credit and margin operations:
   • Collaborate with support teams, senior management, and CWM Operations to ensure that the business approach and operational process are aligned with Credit P&P and our risk tolerances.
   • Lead meetings and represent initiatives at Senior Management and Steering Committee meetings.
   • Develop SOPs as required and oversee processes around Options approvals and retention of clients at various strategy levels.
   • Proactively identify market issues, portfolio risk, client positioning, and proactively put in plans to close gaps.
   • Influence decisions and escalate issues for discussion and resolution as required.
   • Assign/negotiate ownership of key project deliverables.
   • Manage and influence end-to-end project workstreams to ensure deadlines are met and initiatives are implemented efficiently and effectively.
2. Support the Director in managing the trading oversight within Scotia iTRADE:
   • Maintain a current understanding of the iTRADE trading environment and order routing of all order types in Canada and US.
   • Monitor, review, and identify all new/modified destinations and regulations related to trading.
   • Be a point of contact for Executives and external brokers to reduce key person risk in situations that require rapid investigation and decision making around trading.
   • Provide input into business requirements to ensure the business impact is understood and assessed in the development of solutions to meet change requirements. Work with internal technology resources and IRESS on related projects.
3. Enhance and further develop the Best Execution monitoring and reporting:
   • Ensure compliance with the Scotia Capital Best Execution.
   • Maintain a current understanding of the compliance environment and a comprehensive understanding of the implications to the business.
   • Create an annual plan for testing and reporting the various aspects of the software.
   • Monitor, review, and identify all new/modified regulations to help assess the impact to the business.
4. Track, Manage, and Communicate Trading issues from CIRO TCC and MX Exam Findings:
   • Track and manage issues identified both internally and through external exams and testing.
   • Provide reporting to senior management on the status of current and outstanding issues.
   • Participate and represent the business at industry committee and working group meetings as required.
5. Support the Director in managing and helping reduce business risk within Scotia iTRADE:
   • Maintain a current understanding of the compliance environment and a comprehensive understanding of the implications to the business.
   • Work with CSM team and Scotiabank Fraud management to streamline and adapt our processes and controls around this growing risk area to online brokerage.
   • Look to improve existing compliance programs and participate in developing, maintaining, and implementing changes to the firm's compliance policies and procedures.
6. Support team leadership to motivate and develop individual and team performance:
   • As a senior member of the Management team, foster and develop a strong, positive team environment to help drive employee empowerment, innovation, and a high degree of engagement.
   • Identify and support training and development needs of all team members.
7. Contribute to the effective functioning of the iTRADE Management team:
   • Maintain a high level of brokerage industry knowledge.
   • Build effective working relationships across the teams and with various business line and corporate function contacts.
   • Facilitate a culture of open and honest communication.
   • Encourage the generation of new ideas and approaches.
   • Actively share knowledge and experience to enhance the development of all team members.

Education / Work Experience:

• Business/Finance degree or equivalent experience.
• Successful completion of Canadian Securities Course (CSC), Conduct and Practices Handbook (CPH), Derivatives Fundamentals and Options Licensing Course (DFOL).
• Strong understanding of retail brokerage trading and operations.
• Prior experience and knowledge in brokerage and investment industry highly desirable.
• Strong analytic and problem-solving capability.
• Exceptional presentation and written communications skills.

Working Conditions:

Incumbent will work in a fast-paced and high-stress environment. Significant added pressure may be experienced due to tight deadlines, the complexity of assignments, competing priorities, and having to deliver on ad hoc requests for information from Senior Management.

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, 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 during the recruitment and selection process, please let our Recruitment team know. Candidates must apply 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.