Director, Chief Risk Officer, Asia Pacific

Requisition ID: 237102

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

Purpose

Provides strategic direction, leadership, and oversight for the risk management team in The Bank of Nova Scotia’s branches & subsidiaries in the Asia Pacific Region (“the Bank”), ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures. 

Accountabilities:

• Leads the Bank’s risk management team in the oversight of financial and non-financial risks as per the Bank’s Risk Management and Risk Appetite frameworks, and to meet regional regulatory and fiduciary requirements. The position is not cover the 2nd line oversight of Compliance and Legal Risk.
• Supports alignment of the Bank’s priorities and objectives with the Bank’s Enterprise-Wide Risk Management Framework in partnership with Business Lines, Finance, Treasury, Compliance, and other stakeholders.
• Develops / contributes to/ ensures adoption of:
• The Bank’s Risk Appetite Framework
• Risk Management policies for the financial and non-financial risks that are covered by the Risk Management team.
• Local lending guidelines for segments and industries.

The above are subject to authorization/advice and counsel by The Bank of Nova Scotia and, where appropriate, approved by the Board of Directors for the Bank’s subsidiaries in Asia Pacific.

• Operates within a dynamic framework, which identifies, measures, monitors, opines on, independently values, and mitigates the Bank’s material risks, and guides decision-making across the Bank. This is accomplished through:
• Exercises authority and/or Advice and Counsel:
• Serves as a voting member, member, and in some cases as Chairman, of relevant risk management and management committees in the Bank’s Asia Pacific branches and subsidiaries. 
• Assesses financial and risk related management information requirements in the Bank and makes recommendations as required on business cases for enhanced or new technology infrastructure to support risk related management reporting and related internal controls. 
• Designs and executes stress testing programs that support the risk appetite in the Bank, including challenge of the inputs and outputs and management action plans, and reports stress test results to Senior Management and where appropriate, to the Boards of Directors for Asia Pacific subsidiaries. 
• Is responsible for reporting risks and risk management deficiencies of the Bank to facilitate prudent Bank/Board oversight, and for resolving such risk-management deficiencies in a timely manner. 
• Communicates the Bank’s risk appetite, risk exposures, strategies, policy and framework to key stakeholders including employees, shareholders, the Boards of Directors, regulators, rating agencies, and external auditors. 
• As the Risk Culture Champion for the Asia Pacific Region, communicates and incorporates the relevant risk appetite statement and risk appetite measures, in alignment with the Bank’s risk culture, into activities so as to:
• Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Procedures and Standards, and the Guidelines for Business Conduct.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates his/her team by fostering an inclusive work environment; communicating vison, values, and the business strategy, and managing succession and development planning for the team. 
• MAS IAC Senior Managers: The incumbent is appointed as a Senior Manager in accordance with MAS’ Guidelines on individual Accountability and Conduct. The incumbent is accountable to the Singapore Country Head and / or accountable to the Head of the respective Singapore legal entity, in additional to the incumbent’s reporting line to his / her functional Head. Further, the incumbent is responsible and accountable for the conduct and governance of the business / activities, under his / her purview as a Senior Manager.
• Appointed Regulatory Role: The incumbent is holding an Appointed Regulatory Role in any APAC jurisdiction (as may be applicable) in which the Bank operates, the incumbent will be responsible for the conduct for their regulated activities, as well as the oversight and governance of the applicable regulated business(es). 
• Providing independent and objective oversight and risk assessments by monitoring the Bank’s risk against strategic objectives;
• Having the authority to follow up on action taken by management in response to identified issues and related recommendations involving risk; Monitoring and reporting regularly on:
• Recommending on a regular basis that policies and lending or exposure parameters be either maintained or modified, with specific modifications presented to Senior Management, and, where appropriate to the Board of Directors for BNS subsidiaries in Asia Pacific. 
• Aggregate exposures to approved limits;
• Trends in the aggregate exposures by portfolio;
• Exceptions to approved policies;
• Risk appetite metrics; and
• Broader business and emerging risks.
• In the management of the Bank’s Business Banking credit, market, and operational risks as delegated by the Regional Head and BNS GRM EO;
• In the management and reporting of limits, with any breaches of limits being escalated and reported to GRM for Advice and Counsel; and 
• In accordance with delegated limits, in the adjudication of Business Banking credit risk for BNS branches and subsidiaries in the Asia Pacific Region. 
• Embed prudent risk taking into day-to-day management, planning and decision-making;
• Implement controls and processes to effectively identify, report and monitor risk; and
• Ensure timely action is taken to effectively manage and mitigate risks, including prompt escalation of breaches of management limits or risk appetite measures as per established processes.

Education / Experience / Other Information 

• Requires at least a bachelor's degree in a related discipline. Master's degree, recognized Professional designation in a specialized area of finance or business or equivalent, is an asset. To be qualified to work as a CRO requires over 10 years of progressively higher levels of responsibility and must possess expert:
• The incumbent requires a thorough knowledge of The Bank of Nova Scotia and the Bank’s risk management policies, procedures and practices. In addition, the incumbent is required to keep abreast of political, economic, regulatory, tax, and legal developments, as well as funding issues. 
• Understanding of regulatory issues in Asia Pacific countries and Canada;
• Leadership skills as demonstrated by the management of a team of risk management professionals.

Location(s):  Singapore : Singapore : Singapore 

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.