Director, Fraud Job in Toronto for Scotiabank |

Director, Fraud

August 18 2021
Industries Bank, Insurance, Financial services
Categories Accounting, Finance, Forensic accounting, Fraud
Toronto, ON

Requisition ID: 103699

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.


Leads and oversees the Enterprise Fraud Risk Governance & Strategy team in developing, implementing and executing an effective second line Governance & Strategy program including development and implementation of supporting policies, standards, and issue management and reporting processes, while also ensuring the Fraud Governance & Strategy program meets regulatory and policy expectations.

Key Accountabilities

  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Monitors developments in the global Fraud regulatory environment and maintains expert knowledge of global Fraud related legislation, regulations and regulatory guidance/expectations.
  • Monitors global Fraud supervisory trends to identify emerging regulatory themes and concerns and communicates these to Fraud Risk leadership.
  • Develops and maintains the enterprise Fraud policies ensuring they meet domestic and global regulatory expectations and align to the Bank’s fraud risk appetite.
  • In consultation with relevant 1st and 2nd line stakeholders, develops and implements Fraud standards to manage internal and external fraud risk.
  • Develops and implements documentation standards for the format of Fraud Risk policies, standards and other enterprise-wide fraud related documents, ensuring alignment to Enterprise and FCRM documentation standards.
  • Actively participates in industry and public consultations to manage all relevant Fraud regulatory changes required, ensuring sufficient and early engagement with regulators and industry subject matter experts. Actively advocates with lawmakers and international organizations on behalf of the Bank and the banking industry to optimize the effectiveness of the Fraud regime.
  • Provides Fraud analysis, documentation, negotiation, preparation, review, research and advice and counsel to senior and line management on matters of above average complexity in various Fraud policy requirements and interpretations essential to comply with and in the development of new programs.
  • Provides input into documents authored by other departments of the Bank to ensure alignment with Fraud policies and standards and has responsibility and oversight for public-facing Fraud documents.
  • Develops and implements processes for the oversight of all issues impacting the Bank’s enterprise fraud program leveraging the Bank’s issue management framework and tools.
  • Develops and implements a process analyzing and evaluating issues impacting the Bank’s fraud program with a focus on ensuring appropriate remediation actions and timelines are in place.
  • Develops and implements processes to escalate issues which present systemic risk to the Bank’s fraud program ensuring senior management are aware of the issue, impact and resolution actions.
  • Develops reporting processes and formats for senior management and executive management consumption including the development of information packs and dashboards to communication of status of the Banks fraud program.
  • Oversees the research of Fraud issues and emerging risks of substantial complexity on a national, regional and global basis to evaluate impact on the Bank; informs management on developing trends and their impact on operations and recommends courses of action.
  • In partnership with 1st and 2nd line partners, develops and monitors the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Establishing, building, and maintaining relationships with key stakeholders and departments within the Global FCRM unit, as well as GBM, Canadian Banking, International Banking, other financial crime groups and Internal Audit.
  • Builds 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

Experience / Education:

  • A university degree, preferably in a business, risk management, compliance or legal discipline with a minimum of 10 years of relevant experience, including managing skilled, professional teams, preferably covering a broad range of disciplines; including, Fraud, AML, Risk or equivalent. In addition,
  • Command a high-level knowledge of a wide variety of domestic and international regulatory requirements and, in a constantly changing environment, be capable of digesting, interpreting and communicating often highly complex regulations and supervisory interpretive guidelines that fall within the scope of the position.
  • Knowledge of the financial services industry locally and globally
  • Expert ability to communicate clearly and effectively, both verbal and written, with all levels including branch staff, operational and executive management and regulators.
  • Be able to listen, understand and negotiate and obtain consensus from senior management when introducing new ideas and legislated policy recommendations for action or change.
  • Leadership skills
  • Spanish speaking an asset

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, 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.

Apply now!