Senior Audit Manager - Credit Risk

Toronto, Canada
Aug 23, 2019
Sep 01, 2019
Job Function
Credit Analysis
Industry Sector
Finance - General
Employment Type
Full Time
Requisition ID: 69078

Join the Global Community of Scotiabankers to help customers become better off.

Job Purpose

Primarily responsible for performing audits to assess the design and operation of internal controls related to the management of credit risk for assigned projects/processes in Global Risk Management, Global Banking & Markets, International Banking and Canadian Commercial Banking.
Participate in assignments of varying complexity. Act as Officer in Charge (OIC) for audits of low to moderate complexity. As OIC, you will be required to supervise project staff to ensure that assignments are completed on a timely manner in accordance with department standards.
The incumbent needs to have the ability to work in a fast paced and changing environment where changes cannot always be anticipated or planned in advance.
The incumbent will provide high quality, value-added advisory services to line management as part of audits or on special projects / assignments. The incumbent will ensure that department standards are met on all assignments.


1. Audit Planning and Execution
  • Manage the planning of audits or assigned areas of low to medium complexity ensuring scope and extent of work is in accordance with the approved plan, timing and budget are reasonable, procedures are efficient, appropriate resources are assigned and risk understood.
  • Develop a thorough understanding of the business, risks and processes for assigned projects.
  • Identify emerging issues that may impact the audit plan.
  • Develop and/or update Detailed Audit Programs (DAPs) as required
  • Execute assigned activities independently in accordance with the Department Standards ensuring the nature and extent of testing is appropriate to support the audit opinion.
  • Provide assistance to the OIC (Officer in-charge) and other audit team members on a variety of audit tasks.
  • Follow the department's audit methodology on engagements.
  • Determine the efficiency, effectiveness, integrity and reliability of internal controls in relation to defined control requirements by conducting the audit of assigned processes/units/projects.
2. Problem Identification
  • Identify and assess materiality of control weaknesses ensuring facts are gathered and their full meaning is understood for low to medium complex projects as participant/OIC.
  • Identify underlying causes of control weaknesses and provide practical recommendations as to how they can be mitigated.
  • Review audit findings from other participants for presentation to line management.
  • Follow up on assigned issues in the Issue Tracking Database for timely resolution
3. Reporting
  • Draft audit findings which clearly report the extent, cost and risk of error, including the impact of those issues on achievement of control objectives, operations processing, financial reporting and regulatory compliance.
  • Provide input on the audit report for assigned sections.
  • When OIC, review/edit reporting from team members and summarize issues in a draft audit report for review by the assignment supervisor/VP on a timely basis
4. Self/Staff Development and Teamwork
  • Comply with department established HR Management policies and procedures.
  • Prepare periodic and annual performance self-assessments, personal goals and objectives for measurement of performance, a career development and training plan and monitor quarterly for achievement/completion.
  • Provide guidance and mentoring to less experienced staff and assist in team development by training, guiding and monitoring development of staff.
  • When OIC, conduct regular team meetings during assignments
5. Internal/External Communication
  • Maintain effective internal communication through the ongoing sharing and acquiring of information.
  • Maintain effective communication with auditees and line management including appropriate handling of conflicts and issue resolution.
6. Special Projects
  • As directed by management, carry out specific projects or investigations.


  • University degree (graduate level) in business, finance, economics, accountancy or any other relevant area. Accounting designations / technical / professional qualifications (CA, CFA etc.) will be an asset
  • Ability to write clear, concise audit reports as well as internal and external communication.
  • Detailed knowledge of credit risk processes, analytics and risk management practices.
  • Thorough knowledge of MS Word, Excel and audit software tools.
  • Proven ability to work independently and as part of a team of professionals.

Location(s): Canada : Ontario : Toronto
As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. 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.

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