Director, Global Third Party Risk Management
City : Toronto, ON, CA, M5H1H1
Category : Business and Financial Operations
Industry : Finance
Employer : Scotiabank
Requisition ID: 172344
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose of Job:
Contributes to the overall success of the Global Third-Party Risk Management group for Scotiabank’s global enterprise, ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures. The Director of Operations is responsible for the development, implementation and ongoing maintenance of the Third Party Risk Management operations framework, encompassing TPRM oversight & challenge, execution, communications, engagement and education.
- Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge. Champions the Third Party Risk Management Framework and develops plans in collaboration with stakeholders to promote organizational awareness of the TPRM program and principles.
- Operationalizes the Global TPRM Program through the 2A TPRM risk oversight team. Continuously provides insights and opportunities for process improvement based on feedback and interactions with day to day users and industry knowledge. Develops and maintains a user focus group to facilitate the feedback and process improvement.
- Oversees the development of operational procedures and tools that support the implementation of Third Party Risk Methodologies and align to industry practices and ensure effective processes to identify, measure, manage, monitor and report on Third Party risks. Includes Quality Review, Subcontracting, SOC reviews, Exit Strategy, NIRA, self-assessment, annual attestation and key TPRM controls.
- Leads the development, distribution and ongoing maintenance of Third Party Risk Management training. Owns the ongoing communication strategy, digital libraries and tools inventory to drive program success globally.
- Leads reporting, root cause analysis, resolution, and escalation of Incidents/Issues related to Third Party Suppliers. Engages with the first line to investigate, escalate and remediate third party risk issues, incidents and events. When necessary, acts in a consultative capacity, providing advice to teams and cross-functional discussions on third party risk and as a center of excellence for third party risk expertise.
- Develops functional capabilities of the TPRM risk oversight team to execute on the program. Undertakes ancillary activities to support tone from the top and support communication of governance expectations.
- Coordinates with global Third Party Risk Management counterparts to share risk oversight and efficiency best practices to maintain the Bank’s industry standing and regulatory adherence.
- Maintains effective relationships with external peers to keep abreast of industry trends and best practices.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Actively 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.
- 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.
- 15+ years proven risk management experience in Financial Services industry.
- Undergraduate degree in Business, Economics, Finance; MBA or other Graduate Program in related discipline would be an asset.
- Advanced understanding of the regulatory landscape with respect to third party risk.
- Experience in leading dynamic and multifaceted projects.
- Strategic thinking and strategic influencing skills.
- Excellent communication (written and verbal) and interpersonal skills; ability to effectively communicate with senior/executive management.
- Demonstrated technical understanding of pertinent business areas
- Sound judgment, learning agility, and a high level of professional and personal integrity
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, 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.