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Requisition ID: 171736
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose
Provide independent, objective assessment and evaluation of the effectiveness of the Global Compliance Function and internal controls in place to mitigate regulatory risk. Accountable for assisting the VP and Director in the design and execution of the Annual Audit Strategy / Plan and audit programs covering Enterprise Compliance second line of reporting.
This role will focus on coverage of regulatory obligations, Compliance Functions and Enterprise Compliance including supporting the Director with audit coverage of Enterprise Compliance (including regulatory obligations, risk assessment, issues management, monitoring and testing, remediation testing, preparation of thematic wrapper reports and continuing and executing strategy for the Compliance Centre of Excellence (CoE). The incumbent will act as Officer-in-Charge (OIC) (or in some cases as Audit Principal) on audit engagements and is responsible for managing the planning, execution, and reporting of assigned audits in accordance with department standards.
Accountabilities
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As the Global Compliance Centre of Excellence:
- Executes audits of the Enterprise Compliance functions to formulate a periodic opinion on the effectiveness of the function in managing the regulatory compliance obligations across Scotiabank
- Conducts validation testing (design effectiveness and operating effectiveness) to address internal and external findings (including regulatory) and remediations
- Reports on thematic results of audits and issues validation activities
- Incorporates the results of audits executed by Business Line/Country audit teams to ensure adequate coverage across the 8 pillars of Compliance. Report on thematic issues of relevance.
- Assists the Director in the development and management of the periodic Compliance Audit Plan
- Supports Audit coverage of regulatory obligations and develops a consistent approach / minimum standards for regulatory compliance audits to be executed by business and function audit teams to enable Audit to assess the state of Regulatory Compliance risk on an ongoing basis
- Supports continued development of the CoE Program through the roll-out of a global audit program that ensures a consistent approach to audits and validation activities of regulatory compliance risk across Audit Division
- Manages and executes the quarterly continuous monitoring program
- Executes testing for certain regulatory requirements where centralized testing is a preferred approach
- Identifies and communicates key regulatory compliance changes and trends/themes.
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Assists the Director and VP in the development and management of the periodic Compliance Audit Plan:
- Maintains a thorough understanding of compliance risks and processes. This includes keeping abreast of key industry developments, regulatory changes, and identifies key systemic issues (arising from audits globally) and internal changes that will impact the annual audit plan and/or quarterly Audit Committee reporting
- Maintains relationships with Global Compliance and audit teams (Country/Business audit teams)
- Assists to develop tactical strategies for increasing the use of data analytics to drive effective annual planning / risk assessment, continuous monitoring, and engagement / project execution
- Executes audits of the Global Compliance Functions, Enterprise Compliance, and special investigations / assignments. This includes ensuring the audit planning, execution, and reporting are managed in accordance to agreed timelines and department standards
- Supports the Director representing Audit across Compliance committees
- Manages self-development by confirming job expectations and develops and manages his / her own personal development plan
Education / Experience / Other Information
- 8+ years’ experience in Compliance or related field covering Compliance functions (e.g., internal audit, consulting regulatory experience, data analytics)
- Working knowledge of the Bank’s Compliance framework, structure, programs, key regulations/regulators, and systems
- Accounting designations / technical / professional qualifications (CPA, CFA, CIM, etc.), post-graduate degree in business, finance, economics, accountancy, or any other relevant area would be an asset
- Experience with a global regulator (OSFI, PRA, MAS, etc.) would be an asset
- Knowledge of audit processes and methodologies
- Expert knowledge of MS Access, Excel, Visio, Word, and Tableau
- Proven track record of training / presenting to large stakeholder groups
- Ability to write clearly and concisely
- Strong strategic, analytical, problem-solving, and critical thinking skills
- A self-starter / takes initiative, deals well with ambiguity, is detail-oriented
- Thrives in a dynamic team-oriented environment
- Fluency (writing and speaking) in Spanish language would be an asset
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.
