Director, Credit Risk Audit

Requisition ID: 208098

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

Job 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. In support of the Audit Department in executing its global mandate, the Director 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 behaviours; communicating vison/values/business strategy; and managing succession and development planning for the team.

Functional Competencies:

• Thorough knowledge of Non-Retail Credit and Risk Management practices, policies and procedures as applicable across the Bank's business lines.
• Highly proficient at applying risk-based auditing standards, practices, techniques, processes and methodologies to performance and review of audits.
• Working knowledge of the operations and regulatory environments of each of the audit units globally, as required for specific areas of assigned responsibility.
• Ability to supervise multiple projects at any given time.
• Highly developed interpersonal and communication skills (verbal and written) to work with staff and management at various levels and communicates confidently.
• Adopts a risk-based approach to planning and execution, leveraging data analytics, technology, and innovation.
• Strong people management and coaching/development skills.
• Strong analytical skills and proficiency in the use of data analytic or visualization tools to obtain the right data, organize it, and analyze for patterns to provide risk insights and enhanced assurance.
• Curiosity mindset that includes asking questions and engaging with diverse points of view to bring new ideas and thinking to the Bank, enabling us to compete on a global scale.
• Proven ability to work in high levels of ambiguity and in a rapidly changing environment.

Education/Work Experience:

• University/Post secondary degree in Business, Finance, Economics, Accounting, or equivalent. Relevant Audit or business certifications.
• Accounting designation or other technical/professional designation (e.g. CPA/CFA) as asset
• Minimum of 10 years Banking and/or Credit Risk Management experience (Commercial Banking/Credit experience preferred)

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.