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Audit Manager, Credit Risk

Requisition ID: 105310Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.


The Audit Manager, Credit Risk contributes to the overall success of the Audit Department, Credit Risk Audit Group in Canada and globally ensuring specific individual goals, plans, initiatives are executed/delivered in support of the team’s business strategies and objectives.  Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.



Conduct credit file reviews to provide independent opinion on quality of credit risk assessment & underwriting, appropriateness & replicability of internal risk rating, and adequacy of provisions – in line with the Bank’s risk appetite and credit policies & procedures;
Conduct testing at portfolio/unit level to assess the operating effectiveness of risk management practices and controls, including adjudication activities.
Conduct continuous monitoring over business banking credit portfolios (industry and regional) and support ongoing issue closure & monitoring processes.
Build & maintain ongoing relationships with key audit clients within the first and second line, support a customer focused culture that deepens client relationships.
Executes assigned areas in collaborative risk-based audits, ensuring scope and extent of work is in accordance with the approved plan; timing and budget are reasonable; procedures are efficient, and risks understood. This includes:
Holding walk-through meetings with audit clients to develop and document a thorough understanding of the business, key risks and processes for assigned projects.
Identifying emerging issues that may impact the audit.

Executes assigned audits in accordance with department standards ensuring that the nature and extent of testing are sufficient and appropriate to support the audit opinion.  Adopts a continuous dialogue approach with the audit clients during the audit to build rapport and maintain a healthy working relationship with the audit clients. This includes:
Evaluating the adequacy of internal control design and operating effectiveness in meeting business, operational and control objectives.
Striving for efficient execution of assigned audits.  The incumbent is expected to seek and obtain direction, perspective and resource support as required in order to complete the assigned audit on time and on budget.

Identifies control weaknesses during assigned audits and develops audit findings to determine the root cause and associated impact/risk including developing practical and cost effective recommendations as to how risks can be mitigated. This includes:
Validating the accuracy of the finding with the auditee and present issues to line management.
Following up on assigned issues in the Issue Tracking Database for timely resolution.

Prepares audit findings which clearly report the extent, cost and risk of error, including the impact of those issues on achievement of control objectives, operations processing, financial reporting and regulatory compliance.  When in a supervisor capacity, reviews/edits reporting from team members and summarize issues in a draft audit report for review by the assignment supervisor/VP on a timely basis.
Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Actively pursues effective and efficient operations of his/her assigned areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to credit risk, operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Code of Conduct.  Qualifications
Primarily responsible for performing audits to assess the design and operation of internal controls related to the management of credit risk for assigned projects/processes in Global Risk Management, Global Banking & Markets, International Banking and Canadian Commercial Banking
Participate in assignments of varying complexity. 
The incumbent needs to have the ability to work in a fast paced and changing environment where changes cannot always be anticipated or planned in advance.
The incumbent will provide high quality, value-added advisory services to line management as part of audits or on special projects / assignments. The incumbent will ensure that department standards are met on all assignments.
Ability to write clear, concise audit reports as well as internal and external communication.
Knowledge of credit risk processes, analytics and risk management practices.
Thorough knowledge of MS Word, Excel and audit software tools.
Proven ability to work independently and as part of a team of professionals.
University degree (graduate level) in degree in Business, Finance, Economics, Accounting, or equivalent. Accounting designations/technical/professional qualifications (CPA/CFA, etc) an asset.
Minimum 5 years of work experience in a banking/credit/operations/audit environment. Strong knowledge of commercial corporate banking and/or credit adjudication is essential.

Working Conditions

Work in a standard office-based environment; non-standard hours are a common occurrence, e.g., extended hours on a project basis including evenings and weekends and during quarter ends.
Working environment under constant change where changes cannot always be anticipated or planned.
Regular travel to/from client business offices/operations/labs in downtown Toronto or surrounding communities.
Moderate travel internationally (up to 3 times a year for 2-3 week duration) to conduct or participate in assignments.

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.

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