Assistant Manager, Transaction Control – Scotiabank


  • Full Time
  • Anywhere

Company: Scotiabank

Position: Assistant Manager, Transaction Control

Location: Toronto, ON

Description: The Assistant Manager, Transaction Control is responsible for supporting the Trade Processing Center (TPC) and Trade Service Centers (TSCs) in all “Know Your Customer (KYC) /Due Diligence (DD)/Enhanced Due Diligence (EDD)” for escalated trade finance transactions processed by the TPC/TSC, ensuring the policy and procedures related to trade finance transactions, transaction monitoring are implemented and followed by TPC and TSCs, in order to minimize reputational and compliance risks and to meet the regulatory requirements related to trade finance transactions.       

Key Responsibilities:

  • Effectively mitigate the risks associated to all escalated trade finance transactions and provide approval.
  • Record, monitor and report compliance related issues.
  • Analyze the escalated transactions and create database to spot trends from AML perspective.
  • Assist in developing, maintaining and implementation of  policy and procedures.
  • Reviewing, conducting enhanced due diligence and approving the trade finance transactions processed in the Global Trade Platform T360 and assigned to the “Compliance Q and /or escalated  directly, in order to effectively mitigate the Money Laundering/Terrorist Financing/Sanctions risks associated with the escalated trade finance transactions.
  • Providing guidance to the TSCs, TPC, Relationship Managers and Sales teams and other internal or external contacts.
  • Working in partnership with the GTB Compliance within TS&FI 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.
  • Maintain at all times a very good knowledge of the Bank’s domestic and international compliance Polices & Procedures and regulations related to trade finance business (e.g. OSFI, Basel, Wolfsberg, BAFT, the Bank Secrecy Act, etc.) and  AML/ATF aspects 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 TSCs and TPC when necessary.
  • Support and /or handle various other functions to maintain the operations of the RMCC.

Skills and Qualifications:

  • You must have a minimum of 10 years of practical experience in trade finance operations.
  • Good knowledge of trade based money laundering concepts.
  • Very good knowledge of Trade Finance products and ability to spot red flags in trade finance transactions.
  • Very good knowledge of ICC publications like UCP 600, ISP 98, URDG 758 etc.
  • Proficiency in computer applications related to Trade Finance and Microsoft Office.
  • Strong verbal and written communication skills.
  • Willing to work under pressure.


  • University Degree
  • Preferably a Certified Documentary Credit Specialist

Apply now


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