Senior Manager, Model Compliance, Retail & Small Business
City : Toronto, ON, CA, M5H1H1
Category : Business and Financial Operations
Industry : Finance
Employer : Scotiabank
Requisition ID: 177784
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The world is changing faster than ever and so are we!
“Big data” fed by “complex processes” representing “massive stakes” are not just buzzwords to us; they are a genuine reflection of our daily life. Our goal is to be nothing less than The Leading Bank in The Americas that puts Customers First. Achieving this will require us to assemble and retain a Winning Team that can both design and run highly-predictive decisioning and forecasting models that accurately reflect reality. To put things in perspective, our models underpin automated risk-management decisions and forecasts that impact millions of customers and keep hundreds of billions of dollars safe, every single day. We are fortunate to have a world-class team of Data Scientists and Model Operations / Compliance personnel building, deploying, and governing incredible risk models. But they need your help.
Unfortunately, despite what the world wants to believe sometimes, great models don’t end at the intersection of data, programming, and statistics; they only begin there. Like a child entering the world, they need parents to guide and protect them, to set and manage appropriate rules and boundaries, monitor their adherence to those, and to continuously help them make sense of the chaos and complexity of ever-changing environment. Specifically, Model Compliance is responsible for helping ensure that our Model Owners and Delivery Partners understand and adhere to federal and provincial laws, regulatory requirements, bank policies, team guidelines and our stated objective to “Do The Right Thing” in the most efficient and effective ways possible. From Strategy & Planning through Data Usage, Documentation, Implementation, Monitoring and Governance, they are the sherpas guiding the team to new modeling heights with a firm eye on ensuring that appropriate controls are in place, and being used, along the way.
Admittedly, this job is not for everyone but if you love reading policies, procedures and legal briefs, think you have the skills to translate them into real-world processes & tools, enjoy meeting and working with a wide range of new stakeholders every day, want to be part of a young ambitious highly-technical team, and feel confident that you can hold them to account when necessary, we’d love to talk to you.
We are results driven, we work hard, we play hard, we nerd out and we bring service, smiles, and solutions to every problem that we face – so should you.
What Are We Looking For?
We want people who get excited when a new (or simply formerly unknown) policy or procedure lands in their lap. We want people who will instantly look up and immediately want to understand every new acronym they come across. We want translators who can bridge the communication gap between regulators and data scientists. We want talented, pragmatic analytically-comfortable lawyers, policy nerds and/or risk managers interested in helping guide, manage and improve how a super-talented team of data scientists go about their work, every day. We want individuals who relish the prospect of being a cartographer, partner, aide, and police officer in the same day, and are capable of switching, seamlessly, between each role.
We want bright and energetic but disciplined minds who come armed with a bottomless sense of curiosity about everything, a passion for getting things done right the first time (and/or failing fast), the ability to prioritize, a knack for explaining complex issues in simple concise ways and a deep sense of personal and professional accountability.
The ideal candidate will be a consummate team player who is equally comfortable being a:
- Compliance, Legal and/or Audit Interpreter / Specialist
- Risk / Process Control Manager
Make an Impact
As Canada’s only truly global bank, we offer the opportunity to work in markets and with teams you may not otherwise get exposure to. You will be a critical member of a team collaborating, on a near daily basis, with a wide range of cross-bank stakeholders and internal partners including Data Scientists, Business Line & Operations leaders, Enterprise Compliance, Audit & Risk teams, Technology & Data teams, and other internal challenge functions.
You will work, day-to-day under the direction of the Director, Model Operations & Compliance leveraging your strong stakeholder management, critical thinking and analytic approach to effectively manage department audit, compliance and risk management activities for Retail & Small Business models, data and processes.
Potential deliverables / outcomes may include (but not be limited to):
- Communicate and disseminate often complex policies, standards, methods and procedures to the Retail and Small Business Models & Analytics team, to promote ongoing awareness and compliance with new and / or existing requirements.
- Proactively engage Enterprise-wide stakeholders to ensure evolving external regulatory / legal and internal Bank policies, standards and processes are reviewed for impact and applicability to the management of Retail & Small Business forecasting and provisioning models. Support management and model owner teams in preparing action plans and required documentation.
- Manage model related compliance activities such as issue preparation, comprehensive tracking and action plans for addressing Validation, Audit and OSFI findings. Build roadmaps for timely and accurate completion of action plans, raising and managing potential risks.
- Manage the delivery of requirements tied to regulatory meetings, monthly / quarterly / ad-hoc based submissions, reconciliations and attestations.
- Coordinate / complete Enterprise Risk submissions to senior risk committees, risk acceptances, etc. working in partnership with, and on behalf of, data scientists
- Manage, maintain, and ensure the application of evolving team owned internal controls related to models and regulatory / operational processes. Align with interdependent internal control stakeholders for accurate and up-to-date control requirements.
- Recommendations of what else “we should look into / fix” next.
Is This Role Right for You?
- You believe, first and foremost, in always doing the right thing and doing things the right way
- You are both deeply curious and highly pragmatic
- You relish ambitious but realistic goals and are committed to achieving them
- You are comfortable initiating conversations and collaborating with diverse personalities
- You are social, engaging, not afraid to ask questions and relish the opportunity to both learn and challenge how things are done in a polite and respectful way
- You can prioritize activities to deliver the right balance of “quick wins” and enduring solutions
- You understand and embrace the responsibility and weight that comes with the fact that your work will impact numerous high-level stakeholders
- You look forward to sharing your ideas and insights through both high-quality effective and concise verbal & written communications
- You are professional, motivated AND FUN. We mean it.
What Do You Need to Succeed?
- Bachelor’s Degree in Business / Commerce (or equivalent field); Risk Management and / or Regulatory Compliance designation is an asset.
- 5+ years experience in Banking, preferably within Compliance or Risk Management.
- A thorough knowledge of risk management, control and audit disciplines.
- Knowledge of credit risk decisioning / predictive and regulatory models and frameworks.
- Fluent English-language verbal and written communications: the ability to distill complex and often ambiguous policies, guidelines and information, and prepare and edit high-quality documentation (Executive proposals, management reports, etc.)
- Strong analytical, negotiation, influencing and conflict management skills.
- Able to work remotely and on-site on multiple activities simultaneously and meet deadlines
- The incumbent must be efficient and flexible as work is normally conducted under tight deadlines and with conflicting/multiple priorities.
- Excellent project management, problem solving and decision-making skills.
- A demonstrated history of problem solving and sound judgment.
- Refined “curiosity”, “critical thinking” and “strategic influencing” competencies.
- Strong fundamental understanding of business analysis, requirements definition, process mapping, data mapping and financial analysis.
- Spanish language skills are an asset.
What’s in It for You?
- We have an inclusive and collaborative work environment that values curiosity & ownership, encourages pragmatic creativity (i.e., true innovation), and celebrates success!
- You'll get to work with and learn from an incredibly friendly and diverse group of accomplished leaders
- You’ll have fun. We do.
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.