Director, Business Risk Management, Global Insurance Requisition ID: 237347 Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. **Purpose** Provides leadership and oversight to Global Insurance by ensuring business strategies, plans and initiatives are executed and delivered in compliance with governing regulations, internal policies and procedures. The Director, Business Risk Management, Global Insurance is responsible for establishing integrated business controls that promote a strong risk and compliance culture. This role provides strategic oversight of non-financial and regulatory risks, ensuring adherence to governing regulations and internal policies. The Director also manages control oversight across key programs, including Operational Risk, Compliance, Conduct Risk, Third-Party Risk, and FATCA/CRS. The role also requires deep familiarity with risks unique to the insurance business - including those arising from product manufacturing, distribution channels, and reinsurance arrangements - and the ability to apply that understanding to strengthen the control environment across Global Insurance. **Accountabilities** + Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge. + Drive Strategic Risk Leadership: Champion a culture of proactive risk management and regulatory compliance across Global Insurance, influencing senior stakeholders and shaping enterprise-wide risk strategies. + Provides leadership and guidance to executive management on core non-financial risk programs for Global Insurance, including privacy, anti-bribery & anti-corruption (ABAC), conduct & sales practices, anti-money laundering, compliance, operational risk, third-party risk, etc., following up on action plans and escalations, as appropriate. + Lead transformation initiatives to enhance risk frameworks and control environments, ensuring alignment with evolving regulatory expectations and business strategies. + Provides oversight and strategic guidance on risks specific to insurance operations, including product manufacturing, distribution channels, and reinsurance arrangements, ensuring alignment with regulatory frameworks and enterprise risk appetite. + Ensure Global Insurance maintains full compliance with multi-jurisdictional regulatory regimes, including monitoring, reporting, and remediation of compliance gaps. + Leads the first line support to 2nd line compliance programs, including Regulatory and Controls Library, Compliance Risk Control Assessments (CRCA), Issues Management, including assisting the business lines to prioritize and implement regulatory changes and/or requirement. + Lead the design and implementation of compliance frameworks tailored to insurance operations, ensuring integration with enterprise risk policies. + Develop and maintain a robust control environment for insurance operations, including preventive, detective, and corrective controls aligned with regulatory and operational risk requirements. + Collaborates with and leverages GWM Business Risk teams and in-country first line control resources (Canada and international), coordinating and providing oversight to internal audit issues and business risk reviews, compliance testing and other remediation efforts as required; ensuring operational deficiencies are addressed and operational soundness is maintained. Proactive follow-up to ensure that commitments are delivered, gaps remediated and controls strengthened, where required. + Leads non-financial risk programs to identifying, benchmarking and establishing best practices, operational efficiencies and effectiveness and drives co-ordination across first line of policies and frameworks, to identify interdependencies across programs and provide a holistic view of non-financial risks, given the geographic footprint, operating model and business mix. + Oversees and supports first line completion of risk assessment, ensuring that adequate controls are in place within Global Insurance countries by: + providing oversight and direction to the business leads and those functions executing controls on behalf of the business;ensuring that the business program covers all aspects of the Bank’s first line of defence for non-financial risks in a three lines of defence model. + Monitors events in the insurance industry and financial services industry generally, identifying new and emerging issues, regulatory initiatives, and provide insight to executive management. + Identifies and supports the business to remediate business risk program deficiencies in a manner consistent with the all-Bank remediation plans, developing risk-based approaches and overseeing the implementation of these plans to completion. + In collaboration with GWM Business Risk, liaise with Enterprise teams (Compliance, Total Rewards, Audit, Global Operational Risk, etc.) to ensure Global Insurance is represented on all initiatives. + Creates an environment in which their team pursues effective and efficient operations of their respective areas in accordance with ScotiaBond, 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. **Do you have the skills that will enable you to succeed in this role? – We’d love to work with you if you have:** + University degree in Commerce or Business Administration, Accounting, or Finance or an MBA + Expert knowledge of insurance industry in Canada and/or international + Experience working with non-financial risk programs (e.g. operational risk, third-party risk, etc.) and Insurance products and services from corporate/control function or business line perspective + Demonstrated understanding of risks unique to the insurance sector, including product manufacturing, distribution channels, and reinsurance arrangements + Excellent problem solving, negotiating skills and well-developed influencing skills + Knowledge of the roles and responsibilities of Global Wealth or Global Insurance business units and support functions crossing all delivery channels + Strong verbal and written communication skills + To provide strategic direction, leadership and enhance the business model, at least 10 years’ senior experience in Insurance and/or from a first, second- and third-line defense perspective **Interested?** If your experience is closely related but doesn’t align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank! At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture. **What's in it for you?** Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs. Location(s): Canada : Ontario : Toronto 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.