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Associate Director, Enterprise Volcker Office

Scotiabank

This is a Full-time position in Toronto, ON posted August 30, 2017.

6734Join the Global Community of Scotiabankers to help customers become better off.Enterprise Volcker Office (EVO) within the Global Banking and Markets’ Regulatory Initiatives Group (RIG) operates as the Bank’s centre of excellence in the first line of defense for ensuring compliance with the Volcker Rule by playing a critical role in monitoring, reporting and testing the various Volcker requirements among all impacted areas: Global Banking and Markets; Group Treasury; International Banking and Canadian Banking, including Wealth Management.As a banking entity operating in the U.S., Scotiabank is subject to the rigorous compliance requirements of the Volcker Rule, a U.S.

banking regulation that came into effect in July 2015, restricting proprietary trading activities and ownership interests in covered funds.The Associate Director role is primarily responsible for effective execution of GBM and GT metrics internal Dashboard validation and monitoring, as well as for compiling, and getting relevant sign-off for, monthly metrics packages and qualitative commentary submission packages in the Enterprise Metrics Submission process for GBM and GT.  Through subject matter expertise in measures and metrics, this role may also asked to provide analytical support during the RENTD and MMI recalibration process. This role has oversight responsibilities for an Associate, to assist in execution of responsibilities.This position requires the ability to work in a dynamic and fast-paced environment. Key Accountabilities:Core Accountabilities

• Assist Director & Head of Enterprise Volcker Office (EVO), engaging in various Volcker operations of monitoring, testing and reporting functions in relation to proprietary trading and covered fund prohibitions• Work collaboratively with business management, monitoring groups, compliance and technology stakeholders on regulatory initiatives (i.e. Volcker Rule and DFA Reporting) and managed project delivery, testing and implementation activities• Serve as lead for any audit and independent testing inquiries, responding to Audit and Compliance, respectively on the periodic testing activities in relation to EVO-managed metrics controls and facilitate any required remediation actions• Assist in coordination of front office periodic review of RENTD methodology and MMI limit recalibration exercise and consult as required and ensured FO documentation and technology implementation of such takes place in timely mannerMetric Supervision• Lead the monitoring and escalation framework workstream, developing project plans by engaging front office relationship managers, IT, L&C, and monitoring groups and escalating concerns regarding project deliverables in a timely manner• Present to oversight committees, as required, assisting in compiling overall EVO status updates for management, and provide Volcker subject matter expertise to GBM, either through ad hoc advice or through leading ad hoc training efforts• Serve as Front Office Advisory support, acting as an initial point of contact for the business for Volcker metrics guidance consistent with Rule and internal Volcker Operating Principles and engaged Legal and Compliance (L&C), as required• Maintain and develop strong relationships with key business representatives to ensure Volcker is being considered when new business initiatives are being launched and developed communication strategies regarding rule impact analysisMaterial Breach Management & Metrics and Commentary Submission to Regulators• Distribute daily, weekly and monthly metrics dashboards, monitoring, validating and escalating to EVG any breaches, engaging Material Breach Escalation Framework, as required and coordinated remediation actions arising from EVG review• Compile metrics and commentary packages from all Divisions to create the Enterprise Metrics and Commentary Submission Package, coordinating any necessary updates with EVG and oversight committees prior to the quarterly regulatory reportingTechnology Expertise• Review existing regulatory reporting processes, identify changes required and design and implement revised or new processes, escalating issues/risk for tactical and strategic system solutions and business process improvements• Elicit and document detailed business requirements (BRDs), demonstrating a strong grasp of user needs and a thorough understanding of business, technology, and industry requirements and facilitated workstream sessions with key stakeholders• Create functional specifications, process diagrams and data mapping documents, as well as other project documentation as required, such as scope documents, plans, schedules, and status updates, using Microsoft Project and Microsoft Visio• Author and execute acceptance criteria to ensure that developed solutions are implemented in accordance with the requirements and facilitate implementation of change requests (CRs) through post-implementation testing• Participate in development of test scripts and exception reports ensuring adherence to agreed upon front office and compliance-approved business requirements and participate in User Acceptance Testing of developed systems and solutions• Liaise between operations, technology, and business areas in regards to business requirements and specifications and develop deployment to production plans as required, including Service Level Agreements (SLAs) and support documentationLeadership, Coaching and Managerial Expertise• Have direct development and coaching oversight of an associate, to assist in execution of metrics dashboards and internal reporting responsibilities support in the various proprietary trading and covered fund controls monitoring activitiesDocumentation• Ensure documents specified under EVO records ownership, as well as any supporting documentation required to justify monitoring results, are kept in accordance with GBM/GT records policy and periodically review the Recordkeeping Index. Functioanl competenices:• Three or more years of relevant business experience in market risk management• In-depth knowledge of derivatives, risk management techniques (sensitivity measures, VaR) and financial markets• In-depth knowledge of Dodd Frank Act (notably, the Volcker Rule)• Excellent written and verbal communication• Proficiency in business tools/software: Excel (including VBA), Power Point, MS Access, SQL• Good knowledge of business analysis and database structure and data mining• Good knowledge of project management (MS Project) and process maps (MS Visio)• Capacity to blend quantitative/theoretical thinking to resolve most technical and conceptually ambiguous issues/situations with sound business judgement• Capacity to cope with a high degree of ambiguity and change• Ability to work both independently and as part of cross-functional teams• Ability to work in a dynamic environment and undertake, execute and deliver on time multiple concurrent projects• Must be detail oriented while working under the third party/cross-functional dependencies and tight deadlines pressure (internal or regulatory)• Three or more years of relevant business experience in market risk management• In-depth knowledge of derivatives, risk management techniques (sensitivity measures, VaR) and financial markets• In-depth knowledge of Dodd Frank Act (notably, the Volcker Rule)• Excellent written and verbal communication• Proficiency in business tools/software: Excel (including VBA), Power Point, MS Access, SQL• Good knowledge of business analysis and database structure and data mining• Good knowledge of project management (MS Project) and process maps (MS Visio)• Capacity to blend quantitative/theoretical thinking to resolve most technical and conceptually ambiguous issues/situations with sound business judgement• Capacity to cope with a high degree of ambiguity and change• Ability to work both independently and as part of cross-functional teams• Ability to work in a dynamic environment and undertake, execute and deliver on time multiple concurrent projects• Must be detail oriented while working under the third party/cross-functional dependencies and tight deadlines pressure (internal or regulatory) Educational Requirements:Undergraduate in quantitative discipline or Commerce/EconomicsGraduate degree in a quantitative discipline MF, MSc, MMF/MFE or MBA. (Mathematics, Statistics, Finance, Economics/Econometrics or equivalent) preferred.Working towards a CFA designation is an asset. Location(s):  Canada : Ontario : TorontoAs Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. 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. Candidates selected for an interview will be contacted directly.  If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.