Director, Credit Risk Audit

Employer
Scotiabank
Location
Toronto, Canada
Salary
Competitive
Posted
Aug 24, 2019
Closes
Sep 01, 2019
Ref
6385387
Job Function
Credit Analysis
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Requisition ID: 68949

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

Purpose

Leads and oversees Non-Retail Credit Risk audits in Canada and Internationally across International Banking, Canadian Banking, Global Banking and Markets, and Global Risk Management, ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures, best practices.

Accountabilities

  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Identifies systemic/emerging issues and/or strategic changes planned/undertaken by the auditee that will impact the audit plan including review of business/strategic plans, review and update the Risk Assessment Database for entities assigned, attend periodic meetings with key management officers to understand changes and new business initiatives and review Key Performance Indicators.
  • Reviews plans against market conditions and re-assess and provide new ideas on an ongoing basis with respect to processes / controls to be audited.
  • Maintains a thorough understanding of the business, risks and processes for assigned areas.
  • Drafts and executes the Annual Audit Plan. Develop and implement a flexible Annual Audit Plan using an appropriate risk based methodology.
  • Directs internal audit activities including prioritization to ensure effective use of resources.
  • Directs the planning of audits or assigned areas by ensuring the 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 risks understood.
  • Schedules audits and resources as necessary, ensuring the approved audit plan is implemented; ensure an integrated audit approach is applied, including secondment of staff from other business lines to assist in the audit project.
  • Develops a thorough understanding of the business, risks and processes for assigned projects.
  • Identifies emerging issues that may impact the audit plan.
  • Develops and/or update Detailed Audit Programs (DAPs) as required.
  • Supervises staff in the audit and execution of assignments including the appropriate nature and extent of audit coverage.
  • Evaluates the adequacy of system design and internal control framework in meeting business, operational and control objectives.
  • Ensures department standards are followed in execution of assignments including the appropriate nature and extent of audit coverage.
  • Ensures internal control weaknesses have been identified, errors have been quantified as appropriate, problems and associated impact are properly defined, documented and reported; identified issues are clearly understood and confirm that line management/product owner will take corrective action. Escalate to Senior Management and Audit Management as necessary for material control weaknesses.
  • Prepares and/or review audit findings for presentation to management.
  • Updates reported issues in the Audit Issues Tracking Database as required.
  • Reviews the quarterly status of outstanding issues as assigned for inclusion in reports to business management and audit management.
  • Writes reports and correspondence demonstrating a thorough understanding of issues with key risks clearly articulated and materiality clearly explained. Recommendations build in best practices observed in other units.
  • Assists in the preparation of the Quarterly Audit Report to the Audit Committee, ensuring key risks observed during the quarter are identified and summarized for management.
  • Oversees and prepare Continuous Monitoring Reports on a quarterly basis through ongoing monitoring and discussions with management, to stay abreast of new or emerging risks and the effective execution of the Audit Plan.
  • Presents findings to line management (or assist OIC) and facilitate audit closing meetings as needed.
  • Monitors and follow-up for corrective action/progress against reported issues in the Audit Issues Tracking Database on a quarterly basis. Escalate to Senior Management and Audit Management where corrective action items remain delayed, and impact controls.
  • Ensures relevant information that impacts other audit function areas is shared.
  • Maintains effective internal communication through the ongoing sharing and acquiring of information.
  • Maintains effective communication with auditees and line management including appropriate handling of conflicts and issue resolution
  • Complies with department established HR Management policies and procedures.
  • Ensures that appropriately skilled human capital resides in the audit function of the Bank through continuous development of audit skills, knowledge and coaching of staff.
  • Prepares/reviews (for direct reports) periodic and annual performance self-assessments, personal goals and objectives for measurement of performance, a career development and training plan and monitor for achievement/completion.
  • Manages the development of staff by providing direction and coaching; development of training programs; impart specialized skills to other audit officers through peer discussions and cooperation on cross-functional audits, coaching and performance management.
  • Manages self-development by/through confirming job expectations; identifying mentors/coaches and enquiring about training needs; ensuring timely completion of performance appraisals; recruiting, interviewing and selecting candidates.
  • As directed by senior management, carries out specific projects or investigations of a complex and/or confidential nature.
  • Plans, documents and seeks agreement in advance to the project approach and confirm conclusions upon completion in writing.
  • Performs due diligence activities as assigned.
  • Maintains on-going relationships with audit clients, line management, regulators and external auditors as required.
  • Makes internal and external presentations as required.
  • Keeps abreast of changes in laws, regulations, professional standards, and changes in the Bank that could affect the business risk profile.
  • Assists with work performed on behalf of the external auditors as assigned.
  • Continues self-development to expand and understanding of the business lines' key process and business applications.
  • Provides advice and counsel and other advisory services directed at risk management and new initiatives.
  • Provides advice and counsel on internal control design issues/changes with participation on stakeholder working groups as assigned.
  • Makes presentations to other staff to share information for areas of specialization or information obtained in training programs and external courses.
  • Assists with Quality Assurance program as required including review of documentation and reports of assigned audit project and reporting of findings to Professional Practice Group.
  • Understands how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
  • Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.

Education/Experience

  • University degree (graduate level ) in business, finance, economics, accountancy or other relevant area
  • Accounting designation or other technical/professional designation (e.g. CPA/CFA) as asset
  • Minimum of 10 years Banking and/or Credit Risk Management experience

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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