Director, Canadian Banking Audit

Requisition ID: 214458

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

Purpose

The Audit Department is the 3rd Line of Defense and plays a key role in the internal control system of the Bank. It's mandate is to provide independent and objective assurance over the design and effectiveness of internal controls to mitigate risks and to provide advisory services designed to improve the Bank's operations.

The incumbent will be responsible for conducting audits to evaluate the design and operating effectiveness of internal controls relating to Canadian Branch Operations, and other Canadian Banking business units/delivery channels, strategies, products and services. The incumbent will act primarily as Audit Principal on audit engagements and is responsible for managing the planning, execution, and reporting of assigned audits in accordance with department standards.

The incumbent will provide high quality, value-added advisory services to line management as part of audits or on special projects / assignments.

Accountabilities

1. Engagement Planning / Execution

• Manage the planning of audits of medium to high complexity/risk.

• Develop and document a thorough understanding of the key risks and processes for assigned projects

• Design or update audit procedures for assigned audits. The incumbent should be proficient in applying risk based auditing standards and techniques.

• Determine the resourcing and time budget (resourcing, time) needed to complete the engagement.

• Manage and execute assigned audits in accordance with department standards ensuring the nature and extent of testing are sufficient and appropriate to support the audit opinion.

• Coordinates and manages resources to ensure adherence to time budget.

• Assess the effectiveness, integrity and reliability of internal controls in relation to defined control requirements through examination of evidence and execution of test procedures.

• Document and/or review audit work performed using TeamMate software to ensure appropriate working papers are maintained and conform to department standards.

• Working with the Data Analytics team, identify and acquire suitable datasets and design and execute appropriate data driven audit tests (continuous auditing)

2. Problem Identification / Reporting / Communication:

• Identify control weaknesses and develop audit findings to determine the root cause and associated impact /risk including developing practical recommendations as to how risks can be mitigated.

• Validate the accuracy of the finding with the auditee and present issues to line management.

• Write / review audit findings, reports, and correspondence to management, ensuring writing is clear, concise, and accurate.

• Develop and maintain good relationships with key auditee and business line management. This includes completion of continuous monitoring activities, as assigned.

• Follow-up for corrective action/progress against reported issues on a quarterly basis and escalate when necessary.

3. HR Management

• Provide guidance and coaching to team members by providing direction and communicating expectations; impart specialized skills to other audit officers through peer discussions and cooperation on cross-functional audits, coaching and performance management.

• Prepare/review engagement performance assessments.

• Manage self-development through confirming/communicating job expectations and assessing progress; completion and monitoring of the personal development plan; identification of mentors/coaches, etc.

4. Other - Be an integral part of the CB team and work closely with other teams in integrated audits. Play an active role in Department initiatives. Build and foster on-going relationships with audit clients. Make internal and external presentation as required. Continue self-development to expand or maintain an understanding of the business line's key processes and business applications.

Reviewing effectiveness of controls for managing risks in operations as part of the business line audits

Skills/Experience

• Apart from expert knowledge of Canadian Banking branch operations, products and services, the incumbent should be proficient at applying risk-based auditing standards, practices, techniques, processes, methodologies and data analytics to the performance of audits. The incumbent should also have good knowledge of the regulatory landscape impacting Canadian Banking (i.e. consumer protection).
• The incumbent will maintain a thorough understanding of risks and processes in Canadian Branch Operations. This includes keeping abreast of key industry developments, regulatory changes, and identifies key systemic issues and internal changes that will impact the annual and /or quarterly Audit Committee report opinion.
• The incumbent will innovate and modernize the program including building continuous auditing. Be proficient in the use of data analytics, visualization tools and continuous auditing techniques.
• 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. Strong people management and coaching/development skills.
• The incumbent would also have good presentation and report writing skills and display good balance between technical knowledge and soft skills to be able to identify material gaps and recommend practical /timely management action plans to resolve the issues.
• Highly developed interpersonal and communication skills (verbal and written) to work with staff and management at various levels.
• Strong team player and work well in integrated audits and able to identify risks across the business line with good project management, planning, and organizational skills.
• Proven ability to work in high levels of ambiguity and in a rapidly changing environment.
• Ability to supervise multiple projects at any given time.
• University Degree in Business, Finance, Accounting, Economics, or related field
• Audit/Accounting designation (CIA, CPA).
• Minimum of 10 years Banking and/or Auditing experience.
• A thorough knowledge of Canadian Banking products and services, branch processes and controls (e.g., Anti-Money Laundering, Operational Risk Management, regulatory compliance) is required. Working knowledge of back office processes is also beneficial (Fraud Management, Collections, Contact Centres, retail/ business service centres, Operation) including the relevant policies and procedures.
• Highly proficient at applying risk-based auditing standards, practices, techniques, processes and methodologies.

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. 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.