Assistant Manager, Monitoring & Testing, Conduct & Consequence Management, APAC Central Compliance

Requisition ID: 202870

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

Purpose

• Contributes to the overall success of the Central Compliance team in Asia Pacific (“APAC”) 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 primary responsibility of this position is to support compliance monitoring and testing for Scotiabank’s APAC operations, as well as, compliance consequence management. The APAC Compliance Testing Program covers regional and extra-territorial regulations applicable to all of Scotiabank’s broker-dealer, banking, swap dealer, futures commission merchant, investment management activities, corporate functions, cross-border testing engagements and other financial services activities. Members of the testing team may be assigned to conduct testing with respect to these business activities. Compliance Consequence Management Program covers the identification, investigation, assessment, resolution and reporting of violations of compliance policies by employees.

• This position reports to and supports the Director, Conduct & Consequence Management,Monitoring & Testing, Central Compliance, APAC, who also leads the APAC Compliance Testing Team. The position requires performance of deputy and covering responsibilities under Monitoring

& Testing, as well as, Conduct & Consequence Management.

Accountabilities

Compliance Testing

• Assist with the development and enhancement of the testing methodologies and standards under the Global and Regional Compliance Testing Program.

• Scope, develop and execute compliance testing in order to assess compliance with legal, regulatory and internal firm policy requirements.

• Participate in the planning and development of APAC Annual Testing Plan, while considering the results derived from APAC Compliance Risk and Control Assessments (CRCA) program, emerging risks and regulatory changes across the APAC jurisdictions.

• Focus on the applicable regulatory requirements to ensure testing is adequately designed to identify potential control gaps and non-compliance with laws and regulations.

• Identify industry best practices and share insights with stakeholders on potential improvement points, to better enhance the controls and processes in place.

• Escalate potential issues and exception items noted during the review process to senior management.

• Ensure that the stakeholders respond with appropriate action to address all draft recommendations and deficiencies noted during the fieldwork process.

• Analyze and document report findings, and lead preliminary discussion with corresponding control/process stakeholders.

• Perform required administrative responsibilities in support of testing, including but not limited to:

➢ Prepare and enter all issues and observations into Microsoft OpenPages, a central repository;

➢ Prepare and distribute testing reports to senior management detailing review findings and recommendations; and

➢ Prepare Workpapers documenting testing.

• Provide assistance with the Team’s collective compliance and regulatory issues management and validation testing efforts.

• Provide internal training, guidance and attend to queries from India Compliance Testing in the application of the testing methodologies and standards.

• Provide assistance with Global Compliance Testing’s collective testing efforts, including planning, fieldwork execution and reporting, in completing the Global Annual Testing Plan.

• Provide support to Corporate Function Testing engagements, including liaising with relevant stakeholders in APAC jurisdictions, and reporting potential findings to APAC management.

• Prepare governance/Business Line committee materials for reporting of the progress on compliance testing reviews, as well as, issue remediation and validation efforts.

• Perform gap assessments and remediation for compliance testing as part of the Quality Assurance compliance transformation efforts.

• Develop effective partnerships within Compliance Testing and other stakeholders including first line and third line, such as Internal Control and Internal Audit functions, through sharing of testing documents and findings.

Compliance Monitoring

• Assist with Compliance Monitoring activities (Metrics Monitoring, Surveillance, Business Oversight) within the Business Line and Corporate Functions to align with the Global Compliance Monitoring Standard.

• Assist with the development and enhancement of the Global Compliance Monitoring Standard.

• Assist Human Resources with monitoring employees’ compliance with mandatory block leave requirements, including investigations into potential breaches.

• Assist Data Loss Monitoring team with potential data loss incidents by undertaking investigations, including fact finding with relevant employees and disposition of false alerts.

• Support with control processes and monitoring to ensure employees’ compliance with the Bank's Gifts & Entertainment Policy and Personal Trading Policy.

• Provide refresher training on compliance policies and attend to queries for APAC employees. Conduct and Consequence Management

• Manage and coordinate the Consequence Management Program within APAC by acting as the first point of escalation for any detection of potential compliance violations.

• Undertake investigation and necessary follow up steps for potential conduct-related incidents upon escalation, inclusive of assessing if they are actual breaches, materiality of the case, collaborating with stakeholders such as Human Resource, Internal Control and Corporate Security, etc.

• Perform required administrative responsibilities in support of conduct incident handling, including but not limited to:

➢ Issue written notice upon detection of violation to inform the employee of the nature of the violation and that the matter will be subject to review by Consequence Management Committee (“CMC”);

➢ Prepare and record all breach incidents for tabling to CMC;

➢ Propose appropriate action in response to the conduct incidents;

➢ Inform the employee, employee’s manager, Human Resource and Local Compliance of the decision made by CMC; and

➢ Provide insights on any trends or potential areas of concerns.

Regulatory Reporting Compliance and Advisory

• Verify short sell position reports prepared by Operations as needed prior to regulatory submissionto Korea Financial Supervisory Service, Australian Securities & Investments Commission and Hong Kong Securities & Futures Commission.

• Provide advice to Operations on the regulatory requirements surrounding short sell position reporting and collaborate in the implementation effort to meet changes in reporting requirements.

• Assist with the attending to any ad-hoc queries from the regulators.

• Respond to requests from issuers on disclosure of interests on a timely manner, in accordance with disclosure obligations within the APAC jurisdictions.

Regulatory Obligations, Management Reporting, and Compliance Risk and Control Assessment

• Administer Compliance Risk Appetite and breach reporting metrics, as well as collate the Key Risk Indicator/Key Performance Indicator submissions for Core Risk Asia Pacific Committee (CoRA) Reporting APAC Central Compliance.

• Coordinate reporting efforts to Regulatory Oversight Committee (“ROC”) by liaising with Local Compliance and preparing presentation materials.

• Administer user access to Microsoft OpenPages and provide orientation for new joiners or existing colleagues who are new to the system concerning Regulatory Library Management (“RLM”), Regulatory Change Management (“RCM”), Global Issue Management System (“GIMs”).

• Identify and share compliance training resources and tools relating to Microsoft OpenPages to support APAC Central Compliance and Local Compliance programs training needs.

• Support in the coordination work for APAC Compliance Risk and Control Assessments (“CRCA”) Program, including assessment on in-scope assessable units, risk ratings and material trigger events, as per the CRCA methodology implemented by the Enterprise Compliance team.

• Assist in the conduct of alignment exercise to identify anomalies across units that shared similar risks and centralized controls in the APAC region, and to assess if qualitative adjustments should be made with supporting rationales.

• Attend to any ad-hoc reporting requirements from GBM&T Compliance in Enterprise Office and Regional Office.

General Accountabilities

• Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

• 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 in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.

• Maintain a customer focused culture to deepen client relationships and leverage broader relationships, systems and knowledge.

Experience/Other Information:

• A minimum of 4-5 years of compliance, audit or regulatory exam support, at least 3 of which should involve compliance, testing or audit.

• Experience/background in compliance applicable to broker-dealer internal inspections, institutional trading & sales, investment banking, futures commission merchant, swap dealer activities, commercial banking, investment management, and corporate functions within investment or commercial bank or institutional broker-dealer is preferred.

• Familiarity with applicable MAS and HKMA banking rules applicable to international banks conducting institutional trading & sales, investment banking, investment management, and commercial banking in APAC.

• Strong analytical and investigative skills.

• Solid ability to quickly review, assimilate, prioritize and escalate issues to appropriate stakeholders.

• Solid ability to manage multiple compliance reviews and projects at the same time and meet timely deadlines.

• Outstanding written and spoken communication abilities.

• Excellent teamwork, interpersonal and conflict resolution skills.

• Highly organized and capable of dealing with complex projects.

• BA or international equivalent.

Location(s): Singapore : Singapore : Singapore

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.