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Purpose Leads and oversees Insurance Risk Management / Scotia Wealth Management in Canada ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures. Responsible for leading the risk management efforts for Scotia Wealth Insurance Services (SWIS), the Insurance agency within Scotia Wealth ManagementThis includes a combination of driving proactive initiatives to mitigate risk as well as managing reactive solutions to issues that would expose the business to financial, regulatory, and/or reputational losses.
Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge
Oversee regulatory and compliance programs for SWIS to ensure that we have the necessary policies and documentation with strong processes and adequate controls in place to mitigate risk and run an effective business.
Manage oversight of the Insurance business, including file reviews, to ensure adherence to effective sales practices, proper business conduct, and compliance standards.
Provide guidance and supplementary coaching to Insurance Consultants and Wealth Advisors to ensure they have a strong understanding of their responsibilities as licensed agents as well as the risk management framework and business practices for SWIS.
Act as primary liaison with internal groups, such as Compliance, Legal, Operational Risk, AML, Registrations, Corporate Risk Management, etc., as well as with external groups, such as provincial regulators and Insurance company compliance and licensing staff, to ensure we continue to meet all regulatory requirements.
Lead efforts in validating and testing the effectiveness of our processes and controls, including managing internal audits and Insurance company reviews, completing self-assessments, gathering internal data, etc., as well as developing plans to address any deficiencies.
Resolve client complaints in conjunction with Compliance and the business lines, which may include research and analysis, interviewing related parties, negotiating with stakeholders, as well as making recommendations to management.
Represent SWIS on any organizational initiatives connected to risk management.
Provide additional level of subject matter expertise and leadership in support of the Director, Insurance Advisory.
Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
Creates an environment in which his/her team 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.
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.
Education/Work Experience Requirements:
Minimum 5 years of Insurance and/or Wealth Management compliance experience
University degree or equivalent
Knowledge of the Insurance industry and regulatory environment
Previous experience working with agents/advisors
Industry accreditation (CSC, CFP, PFP, Insurance license, other) would be an asset
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. 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.