Director, Regulatory Initiatives Group, Wealth Management, Toronto ON

Scotiabank - Toronto, ON (30+ days ago)

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Requisition ID: 83662

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With the scope, complexity and ongoing nature of regulatory change impacting Global Wealth Management’s (“GWM’s”) Canadian operations, the Director Regulatory Initiatives Group (“RIG”) role is being established to lead a centralized team focused on executing delivery of a prioritized portfolio of regulatory change projects.

The incumbent will have responsibility for creating project management structure and governance, leading the development of solutions and implementation plans, and ensuring project success to achieve regulatory compliance within pre-defined budgets and timelines. This includes ensuring strong communications to support change implementation within the impacted business units and stakeholder groups to ensure the business complies with regulatory requirements.

The incumbent will oversee the management and coordination of GWM regulatory projects, work streams and initiatives to ensure initiatives are integrated and follow a consistent set of operating principles.


Lead the business response to regulatory change and ensure that the related changes to business policies, controls, processes and systems are implemented on time and in a cost efficient and effective manner. This includes:
Conducting impact assessment to determine gaps in GWM’s business-as-usual processes as a result of regulatory change;
Establishing and overseeing project governance, budgets, and cross-functional teams composed of subject matter experts from impacted business units, second line control functions, and support groups;
Leading the development of solutions;
Ensuring plans and milestone deliverables across all business units are properly defined and met;
Supporting the delivery of work product to address regulatory changes; and
Ensuring co-ordination with business units and control functions to transition projects to business-as-usual processes.
Leadership of regulatory change projects including presenting project updates, briefings on new regulatory changes, and impacts of changes to senior stakeholders and GWM’s senior management.
Act as SME and advise business units and senior management on reputational and other risk considerations in light of the new regulatory requirements and in context of the GWM business strategy.
Oversee and ensures that business specifications/requirements are accurately prepared, meets the needs of the client/market/product group, and provides all information required to develop and support system and operational enhancements.
Engage with the business unit and functional support groups to influence decision-making related to new regulations and the impact on operations, technology, collateral and documentation.
Maintain ongoing dialogue with key business unit representatives to ensure that regulatory developments are being considered when new business initiatives are being launched

Understand GWM’s business strategy at a consolidated and business unit level.
Participate in industry regulatory meetings and working groups to provide advocacy on behalf of GWM and Scotiabank.
May be required to participate in and lead other initiatives as assigned,
Lead and drive a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Build a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

Primary Manager:
VP, Regulatory Controls & Initiatives, Global Wealth Management

Direct Reports:
1 x Senior Manager, Regulatory Initiatives Group
1x Project Manager / Business Analyst, Regulatory Initiatives Group


2 direct reports; total team size of 2 FTE
Managing a complex portfolio of regulatory projects that will typically range in size of between 10 and 20 discrete initiatives
Representing GWM at industry working groups and meetings
Supporting compliance with any regulator requests in relation to the portfolio of projects
Maintain and provide deep regulatory knowledge of relevant Canadian regulations (IIROC, MFDA, OSC, OSFI, AML)
Providing knowledge of business processes related to Wealth Management products
Providing knowledge of operational processes and data governance
The incumbent will be required to work with and influence stakeholders from all levels across GWM’s business units and the control & support functions

Education / Experience / Other Information (include only those that are specific to the role)

Experience of managing large regulatory projects and programs
MBA or University degree with a minimum of 10-15 years’ experience in financial services
Strong understanding of Wealth Management business units, products, services, operations, systems and practices
In-depth understanding of the GWM’s operations and controls, including knowledge of organization and infrastructure
Strong knowledge of regulations (IIROC, MFDA, OSC, OSFI) and internal policies and procedures impacting GWM’s operations
Experience with data governance and data issues relating to regulatory programs
Knowledge of regulatory processes and industry trade associations

Location(s): Canada : Ontario : Toronto

As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.

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.