Director, Regulatory & Fiduciary Oversight in Toronto, Ontario

Director, Regulatory & Fiduciary Oversight

Requisition ID: 219494

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

As the Director, Regulatory & Fiduciary Oversight, you are responsible for overseeing all aspects of oversight related to Scotiatrust, with respect to both its fiduciary responsibilities and regulatory obligations. This includes all types of business within the trust company, including where it acts as agent or custodian, across its various product solutions. You lead a national team that supports the Relationship Managers and Associates that service clients and beneficiaries and that interacts with control functions and other partners to manage risk effectively. You will also collaborate with colleagues to develop and implement key initiatives that improve Scotiatrust’s risk management framework while also striving to make it easier to do business. As the leading subject matter expert on estate and trust fiduciary and regulatory issues, you will also be responsible for managing related policies and procedures as well as consulting with stakeholders as needed

Is this role right for you? The role:

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

• Provides oversight and guidance to Scotiatrust branches, which includes leadership of the Branch Oversight & Client Services team and the discretionary powers council, development and management of business policies, and collaboration with business partners to maintain business controls. It also includes leading the Branch Oversight and Risk Assessment process.

• Oversees Scotiatrust’s regulatory compliance, including AML/ATF and CRA reporting, QI/FATCA/CRS requirements, SEC/CSA regulations, and any other obligations to various regulators, as well as all related monitoring and reporting. It also includes acting as Scotiatrust’s Chief Privacy Officer and all related requirements.

• Leads all required efforts in support of Scotiatrust participating in various internal, external and regulatory audits and testing by control functions, with whom the incumbent partners effectively to ensure there is strong risk management embedded within the business’s operating framework.

• Manages the processes related to complaints and litigation, including any tracking and reporting, providing guidance to colleagues and partnering with control functions to ensure we meet industry expectations and regulatory obligations.

• Provides subject matter expertise to colleagues, both within Scotiatrust and across the enterprise, contributing to new business onboarding, participating in key initiatives, supporting various reporting activities, managing problematic files, and leading specific business efforts that require strong fiduciary and legal expertise, such as Scotiatrust’s role as registered plan trustee.

• Understands 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, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct

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

• Minimum ten years’ experience in estate and trust matters, obtained either in private practice or within the trust industry (or some combination of both)

• Preferable to have a law degree and ability to speak/read French

• Membership in the Society of Trust and Estate Practitioners (STEP)

• Very high level of knowledge and broad range of experience relating to trust matters (including estate/trust law, taxation, investments); working knowledge of matters relating to individual/institutional custody accounts;

• Demonstrably well-developed technical, analytical & research abilities;

• Very strong written and oral communication skills;

• Comfort, confidence and poise in dealing with regulators, auditors, internal/external legal counsel and employees from different areas (and at various job levels) within Scotiabank

• Highly detail-oriented with a strong willingness, desire and capacity to expand his/her knowledge base.

• Familiarity with respect to various withholding tax and international tax treaty conventions, including FATCA, CRS, QI;

• Familiarity with respect to Federal and Provincial legislation and regulation pertaining to various Registered product solutions i.e. RRSPs, RRIFs, TFSAs, RESPs, etc.;

• Comfort with legislative/regulatory interpretation in various jurisdictions;

• Knowledge of the Bank Act, the Trust and Loan Companies Act, the Proceeds of Crime (Money Laundering) and Anti-Terrorist Financing Act and associated regulations; along with various provincial Trustee Acts

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 (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, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . 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.