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Senior Audit Manager, Global Banking

4 weeks ago


London, Ontario, Canada Scotiabank Full time
Title: Senior Audit Manager, Global Banking & Markets Audit

Requisition ID: 214473

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

The Bank's Internal Audit Department plays a key role in the risk management processes of the Bank. Its mandate is to provide independent and objective assurance over the design and operating effectiveness of the Bank's internal controls and to provide advisory services to improve the Bank's operations. The Global Banking Markets (GBM) and Group Treasury (GT) audit team is responsible for assessing the design and operating effectiveness of internal controls relating to capital markets trading and treasury activities in Toronto and international locations.

The incumbent will contribute to evaluate the design and operating effectiveness of internal controls over the Bank's trading and market risk management processes which support GBM and GT business lines. In particular, the candidate will work closely with other team members to provide front office, market risk, product control, and counterparty credit risk coverage and subject matter expertise in executing the annual Audit Plan. Moreover, the candidate will contribute to the Audit Department's Market Risk Centre-of-Excellence (CoE) initiatives to build high awareness of market risk within the Department and ensure that market risk is adequately covered across the global footprints. The candidate will be exposed to emerging market risk measurement and management techniques and industry best practices, as well as various trading and treasury products, risk management processes and other key internal controls employed by the GBM and GT business lines.

Located in our Toronto office, the incumbent will be a member of integrated audit teams covering end to end processes in Treasury and Trading functions with a focus on market risk assessments.

Accountabilities

1. Under the direction of Director and VP GBM Internal Audit, evaluate the design and control effectiveness of the internal controls for managing market risk in trading and treasury activities.
2. Assess the soundness of trading activities by traders and sales staff against established trading and hedging strategies, trading practices, and other trading floor internal controls as well as regulatory requirements.
3. Assess the market risk management and product control cycle including risk appetite definition, market risk limit design in the GBM/GT business lines, product approval and annual review process, management and board reporting and product valuation.
4. Evaluate whether the Bank's market risk management and product control processes follow the Bank's and regulatory guidelines/policies, and whether the Bank's practices are in line with the industry best practices.
5. Identify and articulate areas of improvements pertaining to market risk management and product control processes to provide value added recommendations to the key stakeholders (GBM/GT senior management, market risk management units etc).
6. Participate in establishing and maintaining sound audit program including enhancements of market risk/counterparty credit risk and product control audit procedures and identification of emerging risks through the continuous monitoring activities.
7. Contribute to the Market Risk CoE to build high awareness of market risk and provide training to the audit staff globally as required.
8. Communicate clearly in verbal format and in writing of testing procedures, outcomes, conclusion and observations/recommendations to Director and other team members.
9. Meet all audit department standards and methodologies, as well as relevant regulations and conducts.

Soft Skills

- Curious and adaptable change manager with a positive attitude
- Excellent communications skills with a focus on collaboration and teamwork. Be able to articulate audit issues and recommendations with complex technical subjects to Senior Management and the other audit staff
- Strong analytical and problem solving skills with a proven record of creativity and innovation
- Strong curiosity with appropriate professional skepticism
- Strong interests and awareness in emerging data analytics techniques such as Machine Learning and Artificial Intelligence (ML/AI)

Technical Skills

- Minimum of 5 years of experience in a market risk management or capital markets role (risk management, trading business or treasury function) with strong knowledge in market risk measurement techniques and market risk controls implemented in the trading/treasury desks and risk management units.
- Strong product and market risk management knowledge in capital markets and treasury function across major asset classes (interest rate, credit, equity, commodities & FX)
- Working knowledge in emerging data analytics techniques (e.g. ML/AI), industry standard programming languages (e.g. Python & VBA) and data visualization tools (e.g. Power BI)
- Knowledge and awareness of the regulatory environment for capital markets and market risk management regulatory regimes.

Educational Requirements

- Graduate degree in business, finance or a quantitative discipline such as finance, data science, financial engineering, economics, mathematics, statistics, physics, engineering, and computer science or information technology.
- Designation in FRM and/or CFA would be an asset, however not required.

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.

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