Requisition ID: 98697Join the Global Community of Scotiabankers to help customers become better off.
In this role, you will lead and drive a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Is this role right for you? You will be responsible for:
Assisting the U.S. Loan Review (USLR) Director in executing the USLR Plan, providing financial and regulatory reporting and meeting regulatory requirements
Identifying systemic/emerging issues and/or strategic changes planned/undertaken by the 1st and 2nd line functions that will impact the USLR 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
Reviewing plans, business, risks and processes against market conditions and incorporated into Credit Risk Assessments and with respect to processes / controls to be audited
Participation in the development and execution of the Annual Review Plan
Planning assigned Reviews 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
Scheduling reviews and resources as necessary, ensuring the approved Review plan is implemented; ensure an integrated approach is applied with Internal Audit, including staff from other business lines to assist in the project, as necessary
Developing a thorough understanding of the business, risks and processes for assigned Reviews and projects. Identify emerging issues that may impact the business units subject to Review
Developing and/or update Detailed Audit Programs (DAPs) as appropriate
Leading and supporting USLR team members in conduct of target reviews; continuous monitoring reviews and reporting
Performing credit reviews of loans, borrower relationships and credit risk controls
Evaluating the adequacy of system design and internal control framework in meeting business, operational and control objectives
Ensuring department standards are followed in execution of assignments including the appropriate nature and extent of audit testing
Evaluating credit exposures to ensure risk grading accuracy and timeliness, and compliance with Bank policy and regulatory guidelines
Identify loans with potential credit weaknesses and any relevant trends that may affect collectability
Ensuring 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
Preparation and/or Reviewing findings for presentation to management
Monitoring and tracking remediation of outstanding issues as assigned for inclusion in quarterly reports to 1st and 2nd line functions and Internal Audit (U.S. & Toronto) and escalate to Senior Management and Audit Management where corrective action items remain delayed and impact controls
Through written 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
Drafting quarterly reporting to senior management and/or the Audit Committee, ensuring key risks observed during the quarter are identified and summarized. Participation in the Continuous Monitoring process and reporting on a quarterly basis through ongoing monitoring of MIS, the external environment and discussions with management, to stay abreast of new or emerging risks and their impact on the Review
Presentation of findings to line management (or assist OIC) and facilitate Review closing meetings as needed
Monitor and follow-up for corrective action/progress against reported issues in the USLR and Audit Issues Tracking Database on a quarterly basis
Ensuring relevant information that impacts other U.S. Audit and Toronto based Audit function areas are shared
Maintaining effective communication with 1st and 2nd line function management, including appropriate handling of conflicts and issue resolution
Complying with department established HR Management policies and procedures
Managing the development of staff by providing direction and coaching; development of training programs; impart specialized skills to other USLR officers through peer discussions and cooperation on cross-functional Reviews/assignments and performance management
Managing 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 needed
Do you have the skills you need to succeed? We’d love to work with you, if you have:
A Bachelors degree or equivalent work experience with post graduate degree and/or CFA preferable
Formal (bank, rating or bank regulatory agency, consulting, etc.) including ability to perform fundamental and comprehensive financial analysis of historical and projected financial statements
At least 8 years of banking/credit experience, preferably including experience in credit adjudication and US Loan Review functions
Knowledge of U.S. regulatory environment and emerging risks
Computer proficiency (MS Office) and ability to acclimate to Scotiabank proprietary systems
Strong oral and written communication skills
The ability and willingness to articulate well supported credit opinions, including those divergent from banking and credit officers/staff
A collaborative approach to work with USLR team and with banking and credit officers/staff
The capacity to manage competing project priorities and a diverse workload
Strong interpersonal skills, strong work ethic, and self-motivated
The ability to accept accountability and demonstrate initiative
Familiarity with risk based auditing standards, techniques and methodologies, a plus
Strong oral and written communication skills
Strong knowledge of credit and risk management practices, policies and procedures as applicable across the Bank’s business lines
Prior experience conducting U.S. Loan Reviews, ensuring compliance with regulatory guidelines and expectations will be an asset
Good understanding of the US regulatory environment, including regulations impacting the Corporate Credit processes and particularly those regulations applicable to Loan Review functions in the US
Good project management, planning, and organizational skills, including managing competing project priorities and a diverse workload
A proven ability to manage and lead a team of professionals
Location(s): United States : New York : New York City || United States : Texas : Houston
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. Our employees are committed to a superior customer experience and use the Banks six guiding sales practice principles to ensure they act with honesty and integrity.
We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and their differences and similarities are embraced. Learn more here.
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.
