Director, Credit Risk Audit Leader

4 weeks ago

Toronto, Ontario, Canada Scotiabank Full time

Job Purpose:

The Director, Credit Risk Audit will lead and oversee Non-Retail Credit Risk audits in Canada and Internationally across International Banking, Canadian Banking, Global Banking and Markets, and Global Risk Management. This role ensures business strategies, plans, and initiatives are executed/delivered in compliance with governing regulations, internal policies, and procedures, best practices.

Key Accountabilities:

  • Leads and drives a client-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
  • Acts primarily as Audit Principal or in some cases Officer in Charge (OIC) for assigned projects, processes, and units. Also acts as a change agent to negotiate corrective action and follow-up to ensure timely corrective action is taken.
  • Ensures Scotiabank standards and the Institute of Internal Auditors (IIA) Code of Ethics are maintained in completion of all assignments.
  • Works with business lines/product groups/risk management functions to provide advice and counsel in the design of internal controls.
  • Responsible for the ongoing assessment of the safety and soundness of business processes, policies, and procedures within assigned products/portfolios/business lines, including key performance indicators, changes, provisions, etc. Responsible for ensuring that the processes adequately support business strategies, plans, and initiatives.
  • Develops and executes a comprehensive and strategic audit plan, ensuring auditable entities remain within cycle.
  • Conducts ongoing monitoring activities to stay abreast of changes (business/industry/regulatory) / emerging risks / themes or systemic issues that may impact the risk assessment of the audit universe and the audit plan. Develops and analyzes strategies/audit procedures to ensure the organization stays ahead of the curve in response to internal and external changes.
  • Oversees the execution, planning, and reporting on the assigned audit projects. Obtains a thorough understanding of the business/unit/process and associated risks, develops a risk-based audit plan/procedures, and schedules timing and resources. Prioritizes activities and exercises problem-solving skills in audit projects based on risks and tasks assigned in a timely manner.
  • Defines and leads the end-to-end process of the execution of the audit and ensures the nature and extent of testing is appropriate to support the objective, scope, and overall opinion. Completes timely review of workpapers, ensuring internal control weaknesses are clearly documented with recommendations addressing the root cause and are communicated timely to management. May also execute assigned audit activities independently as an OIC or a team member under the direction of the OIC on assignments.
  • Ensures audit results are gathered, determines the root cause of the problem and the associated impact and report accordingly. Confirms the audit results with the auditee. Prepares and/or reviews audit review findings for presentation to management. Monitors and follows-up for corrective action/progress against any reported issues. Ensures relevant information that impacts other audit function areas is shared.
  • Ensures audit reports are written to a consistent high standard and are finalized within established department metrics.
  • 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 confirms conclusions upon completion in writing. Assists in the due diligence of potential acquisitions.
  • Proactively anticipates client pain points to drive innovative recommendations and ensure organizational agility.
  • Leads collaborative efforts across teams, ensuring alignment toward shared objectives and driving collective success.
  • Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Creates an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank's Values, its Code of Conduct, and the Global Sales Principles, while ensuring the adequacy, adherence to, and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions, and conduct risk.
  • Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors; communicating vision/values/business strategy; and managing succession and development planning for the team.

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