Purpose

The Audit Department is the 3rd Line of Defense and plays a key role in the internal control system of the Bank. Its 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 role of this position is to carry out audits to assess the design and the operating effectiveness of internal controls in Global Banking and Markets (GBM)/Capital Markets divisions. Audits may range across Business, Operations, Product Control, Regulatory Compliance and other GBM/Capital Markets support functions in Toronto from time to time on a need basis. The right candidate for this role will also be required to engage in developing and maintaining a data analytics program for GBM/Capital Markets Audit using data analytics tools.

Accountabilities

1. Engagement Planning / Execution
   • Manage / assist in the planning and execution of audits of lower to higher complexity/risk. Work as part of the team or individually to provide the audit services. Undertake Office-in-Charge responsibilities on audits as assigned.
   • Develop and maintain a data analytics program for GBM/Capital markets Audit using data analytics tools
   • Hold walkthrough meetings with audit clients to 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 apply risk-based auditing standards and techniques.
   • 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. Adopt a continuous dialogue approach with the audit clients during the audit to build rapport and maintain a healthy working relationship with the audit clients.
   • Ensure completion of audit work withing the time budget.
   • Assess the effectiveness and reliability of internal controls in relation to defined control requirements through examination of evidence and execution of test procedures.
   • Document audit work performed using TeamMate software to ensure appropriate working papers are maintained and conform to department standards.

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 audit findings, reports, and correspondence to management, ensuring writing is clear, concise, and accurate.
   • Follow-up for corrective action/progress against reported issues on a quarterly basis and escalate when necessary

3. Other - Be an integral part of the GBM 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.

Education / Experience

• 3 to 5 years’ experience in Capital Markets Audit and Capital Markets 1st & 2nd Line Testing,
• Knowledge of Capital Markets Products and processes, and OTC derivative regulations.
• Accounting designations / technical / professional qualifications (CPA, CFA, CIA etc.) will be an asset.
• University degree in business, finance, economics, accounting or any other relevant area.
• Proficient use of Excel to analyze large transaction data for independent testing and validation.
• Knowledge of audit processes and methodologies
• Ability to write clearly and concisely.
• Critical thinker and problem solver
• A self-starter who deals well with ambiguity and is detail oriented.
• Thrives in a dynamic team-oriented environment.