Job Description

Senior Manager, Trade Finance Risk Control
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Date: Mar 15, 2019
Location: Toronto, ON, CA
Company: Scotiabank
Requisition ID: 53382
Join the Global Community of Scotiabankers to help customers become better off.
Job Purpose
The Senior Manager is responsible for managing overall operations of the department supporting Trade Operations in multiple jurisdictions, ensuring Service Level Agreement (“SLA”) delivery schedule are met, by providing subject matter expertise and protecting the Bank from any potential losses due to non-compliance of Bank and Regulatory requirements applicable to trade finance transactions. This is achieved by being the escalation point in support of the Trade Finance Operations Units.
Main Responsibilities
+ Acting as Trade Finance Transaction Control subject matter expert
+ Spot Checking transactions released in compliance queue by authorised staff in trade operations, analysing trends, maintaining data of escalated transactions.
+ Escalating exceptions that are not in line with the above, with own recommendations, to Director, TFRC.
+ Ensuring that international trade rules, regulations and practices are consistently applied by Trade Finance Operations units, by providing guidance, reviewing transactions and conducting spot checks.
+ Controlling risks associated with escalated trade finance transactions by:
+ Reviewing and approving the trade finance transactions processed and escalated by Trade Finance Operations units, in line with Policies and Procedures.
+ Providing guidance to Trade Finance Operations unit personnel, Relationship Managers and Sales teams and other internal or external contacts in relation to international standards as well as KYC, Due Diligence (DD), Enhanced Due Diligence (EDD), AML, ATF, Sanctions, and the regulatory requirements related to all Trade Services Transactions.
+ Acquiring and maintaining a high level of competence and awareness in global trade related matters from international standards and AML perspective.
+ Escalating issues to management as appropriate.
+ Record, Monitor and report compliance related issues by:
+ Working in partnership with the GAMLU, GBM Compliance, GSO to report on progress and/or resolution of compliance related matters
+ Preparing and submitting to the Global Anti-Money Laundering Unit (GAMLU) the Unusual Transaction Reports (UTRs) as required
+ Analyse the escalated transaction, create and manage database to spot trends from AML perspective.
+ Effectively contribute to the Trade Services client experience by:
+ Responding in a timely manner and expertly to Trade Financ Operations unit inquiries, issues; developing workable solutions, ensuring all related issues are resolved in a timely, accurately and effective manner or escalating to Management as required
+ Maintaining confidentiality of Bank and customer information
+ Acquiring and maintaining an excellent knowledge of the Bank’s domestic and international compliance, Policies & Procedures and regulations related to trade finance business (e.g. OSFI, Basel, Wolfsberg, BAFT, the Bank Secrecy Act, Local Regulations etc.) and AML/ATF aspect of trade finance by gathering and analyzing information, new developments and business risks in the context of international trade operations, and provide guidance and update to all staff in the Trade Finance Operations unit when necessary.
+ Developing, maintaining and implementation of Policy and Procedures by:
+ Making recommendations for changes/updates to the “KYC/DD/EDD/AML/ATF Policy & Procedures for Trade Finance” and related policies, as applicable.
+ Preparing/updating department procedures.
Experience/Education Requirements
+ Excellent knowledge of ICC publications like UCP 600, ISP 98, URDG 758 etc.
+ Excellent knowledge of Trade Finance Products, Structured Trade Finance products, risk Participations etc. and ability to spot red flags in such trade finance transactions.
+ Thorough knowledge of related regulatory requirements including AML, KYC, CIP and Privacy legislation and regulations;
+ Strong verbal and written communication skills are essential.
+ Strong computer skills, including Word, Excel, PP, Adobe. Given the increasing reliance on technological solutions for trade transactions purposes and risk assessment/mitigation, the incumbent must be able to work with other systems such as Trade Express Elite etc.
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 a
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