financial officer
Title posted on CareerBeacon -
Director, Risk, Operations and Compliance Supervision, Scotia Wealth Insurance Services
Posted on
September 10, 2024
by
Employer details
Scotiabank
Job details
Requisition ID: 206732Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. Director of Risk, Operations and Compliance Supervision, Scotia Wealth Insurance Services , Total Wealth Planning and Insurance (Client Solutions) Purpose The Director of Risk, Operations and Compliance Supervision is crucial to executing Scotia Wealth Management's insurance strategy. This role oversees the Operational, Risk Management and Compliance Supervision functions for Scotia Wealth Insurance Services (SWIS), a division of Scotia Wealth Management. As a strong people leader, the Director will attract, develop, and retain top talent while collaborating with the Total Wealth Planning and Insurance Leadership team, the insurance sales team, and internal partners across the bank. The Director is responsible for developing and overseeing robust sales, business support and first-line supervision processes. They will also lead the investigation and resolution of complex issues in close coordination with the bank's compliance and legal teams. The ideal candidate will have a proven track record in insurance-related risk operations and compliance, along with excellent communication, analytical, teamwork, and leadership skills. Accountabilities Lead and manage the delivery of insurance operations, risk management and first line compliance over-sight ensuring alignment with the overall vision, strategy and values of Global Wealth Management and the Bank. Provide strong team leadership that fosters a team environment and drives employee engagement, accountability, innovation, and service excellence. Ensure accountabilities, objectives and goals are effectively communicated to the team and partners; that performance management processes are in place; and that employee development is a priority. Build strong working relationships with key line of business partners across Wealth and with approval centres such as. Operations, Legal, Compliance, Finance which play an important role in the administration of the insurance business. Develop and over-see the operational and administration model for SWIS including: policies for servicing in-force business; the commission payment process; sales reporting and advisor/sales team onboarding; insurance sales compensation guide; co-ordinating administrative and operational support with insurance carriers identifying opportunities for automation or other improvements, and escalating any issues as required. Manage operational risk and oversee day-to-day compliance including: client privacy, anti-money laundering, and client engagement and sales policies; supporting the client complaints process; managing all internal and external audits; and acting as the Designated Representative for SWIS with provincial regulators Design and lead the client escalations process, working closely with partners in the Bank's compliance and regulatory affairs groups and directly handling complex cases. Responsible for the Agency Management System, including maintenance and ongoing improvements to Centralize; and for the delivery of technology to SWIS, including the development of future enhancements working with partners in technology and service vendors. Create and implement robust processes and procedures related to the commission payments and sales reporting. Co-Manage of the SWIS Errors and Omissions insurance program, including liaising with the insurance provider regarding potential claims and liabilities. Collaborate with the SWIS Director of Business Development and partners in the creation and oversight of field administrative support staff policies and procedures to ensure consistency of support and adherence to service level agreements. Promote and support products that are distributed by advisors without the support of Insurance specialist teams (e.g. segregated funds, GIAs, affinity products) Stay abreast of the latest trends, developments, and best practices in the insurance an
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LocationToronto, ON
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Workplace information
On site
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SalaryNot available
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Terms of employment
Full time
- Start date
Starts as soon as possible
- vacancies
1 vacancy
- Source
CareerBeacon
#2110850
Advertised until
2024-10-09
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