Scotiabank Looking for Senior Audit Manager, Compliance/Global Banking & Markets at Toronto, ON Full Time

Requisition ID: 165229

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

Purpose

The Audit Department is the 3rd Line of Defense and plays a key role in the internal control system of the Bank. Its mandate is to provide independent and objective assurance over the design and effectiveness of internal controls to mitigate risks and to provide advisory services designed to improve the Bank’s operations.

The incumbent will provide independent and objective risk assessment of the effectiveness of remedial actions taken to address the gaps identified with OTC derivatives regulatory compliance. The scope of the remediation project within the Global Banking and Markets (GBM) Compliance function is to address gaps to ensure compliance with the CFTC and NFA rules governing Over the Counter (OTC) derivative trade reporting, trade surveillance, diligent oversight and supervision, conduct, and operational risk in a number of jurisdictions where Bank of Nova Scotia (BNS) operates.

Accountabilities

The incumbent will work as part of the Global Compliance Audit Team tasked with the validation of remediation milestones and will work independently to assess the design and operational effectiveness of remediation actions taken to ensure compliance with regulatory requirements and Bank policies as below:

• Perform initial review of closure packages to determine completeness and appropriateness of remediation actions taken by management as well as assessing the adequacy of artifacts provided supporting remediation.
• Identify and assess the underlying control weaknesses, root cause analysis, and impact assessment to determine the non-compliance with regulatory rules and Bank policies.
• Assess the adequacy and appropriateness of remedial actions to address the regulatory and operational gaps.
• Develop, plan, and execute audit programs to validate and test newly designed controls and enhanced procedures to ensure that remedial actions are adequate and appropriate.
• Develop tactical strategies for increasing the use of data analytics around trade surveillance, diligent supervision, etc. to conclude on the operating effectiveness of remedial actions.
• Participate in audits to test controls for sustainability of remediation milestones.
• Document and communicate test results and conclusions appropriately.
• Communicate exceptions to management and follows up to resolve issues.
• Leads and support the team on matters relates to audits, remediation, program, and Compliance Center of Excellence (COE) initiatives.

Education / Experience / Other Information

• 8+ years’ experience in Internal Audit and Capital Markets and / or Compliance. 1st & 2nd Line Testing, regulatory body, or related consulting experience preferably with remediation projects
• Expert knowledge of Capital Markets Products, OTC Derivatives Regulations including Compliance framework, structure, programs, and systems
• University degree in business, finance, economics, accounting or any other relevant area.
• Internal or external audit background. Accounting designations / technical / professional qualifications (CPA, CFA, CIM etc.) will be an asset.
• Proficient use user of Excel to analyze large transaction data for independent testing and validation
• Expert knowledge of audit processes, testing and methodologies
• Ability to write clearly and concisely
• Critical thinker and problem solver
• A self-starter, deals well with ambiguity, is detail-oriented
• Thrives in a dynamic team-oriented environment

auditjobs

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. 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.