Senior Audit Manager, Global Banking and Markets

Requisition ID: 246714

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

The Banks Internal Audit Department plays a key role in the risk management processes of the Bank. Its mandate is to provide independent and objective assurance over the design and operating effectiveness of the Banks internal controls and to provide advisory services to improve the Banks operations. The Global Banking Markets (GBM) audit team is responsible for assessing the design and operating effectiveness of internal controls relating to capital markets trading corporate and investment banking activities in Toronto and international locations.

The incumbent will contribute to evaluate the design and operating effectiveness of internal controls over the Banks trading and market risk management processes which support GBM business particular the candidate will work closely with other team members to provide front office market risk product control and counterparty credit risk coverage and subject matter expertise in executing the annual Audit Plan. Moreover the candidate will contribute to the Audit Departments Market Risk Centre-of-Excellence (CoE) initiatives to build high awareness of market risk within the Department and ensure that market risk is adequately covered across the global footprints. The candidate will be exposed to emerging market risk measurement and management techniques and industry best practices as well as various capital markets products risk management processes and other key internal controls employed by the GBM business lines.

Located in our Toronto office the incumbent will be a member of integrated audit teams covering end to end processes in GBM Trading functions with a focus on market risk assessments.

Is this role right for you In this role you will:

• Under the direction of Director and VP GBM Internal Audit evaluate the design and control effectiveness of the internal controls for managing market risk in trading activities.
• Assess the soundness of trading activities by traders and sales staff against established trading and hedging strategies trading practices and other trading floor internal controls as well as regulatory requirements.
• Assess the market risk management and product control cycle including risk appetite definition market risk limit design in the GBM business lines product approval and annual review process management and board reporting and product valuation.
• Evaluate whether the Banks market risk management and product control processes follow the Banks and regulatory guidelines/policies and whether the Banks practices are in line with the industry best practices.
• Identify and articulate areas of improvements pertaining to market risk management and product control processes to provide value added recommendations to the key stakeholders (GBM senior management market risk management units etc).
• Participate in establishing and maintaining sound audit program including enhancements of market risk/counterparty credit risk and product control audit procedures and identification of emerging risks through the continuous monitoring activities.
• Contribute to the Market Risk CoE to build high awareness of market risk and provide training to the audit staff globally as required.
• Communicate clearly in verbal format and in writing of testing procedures outcomes conclusion and observations/recommendations to Director and other team members.
• Meet all audit department standards and methodologies as well as relevant regulations and conducts.

Do you have the skills that will enable you to succeed We would love to work with you if you have:

• Minimum of 5 years of experience in a market risk management or capital markets audit and other roles in risk management trading business or treasury function with strong knowledge in market risk measurement techniques and market risk controls implemented in the trading/treasury desks and risk management units.
• Strong product and market risk management knowledge in capital markets and treasury function across major asset classes (interest rate credit equity commodities & FX)
• Working knowledge in emerging data analytics techniques (e.g. ML/AI) industry standard programming languages (e.g. Python & VBA) and data visualization tools (e.g. Power BI)
• Knowledge and awareness of the regulatory environment for capital markets and market risk management regulatory regimes.
• Curious and adaptable change manager with a positive attitude
• Excellent communications skills with a focus on collaboration and teamwork. Be able to articulate audit issues and recommendations with complex technical subjects to Senior Management and the other audit staff
• Strong analytical and problem solving skills with a proven record of creativity and innovation
• Strong curiosity with appropriate professional skepticism
• Strong interests and awareness in emerging data analytics techniques such as Machine Learning and Artificial Intelligence (ML/AI)

• Graduate degree in business finance or a quantitative discipline such as finance data science financial engineering economics mathematics statistics physics engineering and computer science or information technology.
• Designation in FRM and/or CFA would be an asset however not required.

Whats in it for you

• The opportunity to join a forward-thinking bank surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development.
• Internal development to support your growth and enhance your skills.
• An organization committed to making a difference in our communities for you and our customers.
• We have an inclusive and collaborative working environment that encourages creativity curiosity and celebrates success!

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.