Requisition ID: 232993  

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Purpose

Internal Audit is hiring a Senior Audit Manager within Model Risk Audit Centre of Excellence (COE) Team. This role will provide an independent and objective assurance over the design and operating effectiveness of the Bank’s model risk management, governance, and control processes within the first and second line of defense, throughout the model lifecycle, and their compliance with regulations, internal policies, and procedures. 

As a Senior Audit Manager in the Model Risk Audit CoE team, you will lead and manage audits as Office in Charge (OIC) for model risk audit projects and support COE activities. You will work collaboratively with various audit teams and related internal stakeholders to achieve audit objectives and deliverables, also build and maintain strong partnership.

Accountabilities

• Lead planning, execution, and reporting on the assigned audit projects (e.g., model risk audit, validation of regulatory issues/remediations, etc.) within scheduled timeline and resource through a thorough understanding of the business/unit/process/associated risks and respected risk-based procedures. 
• Evaluate the design and operating effectiveness of the controls around model risk and adherence to internal model risk policies and regulatory requirements and expectations (e.g., SR11-7, E23, etc.).
• Ensure audit findings and results are gathered and timely communicated to management with identified root cause, associated impact, audit recommendations and management actions that address the root cause. Ensure audit reports are written to a consistent high standard and are finalized within established department metrics, and corrective action/progress against any reported issues are followed-up with escalation where necessary.
• Assist in the development and execution of a comprehensive and strategic audit plan, including audit universe, risk assessment, and the audit plan.
• Support Model risk audit COE activities, including audit strategy, annual planning, standardized detailed audit procedures (DAPs), and training program. 
• Build and maintain strong relationships with internal and external stakeholders and regulators as required.
• Balance risk with operational efficiency when raise audit issues, ensuring that recommendations and management actions are aligned with Bank’s organizational goals and risk tolerance to deliver real value.
• Supports ongoing monitoring activities to stay abreast of changes (business/industry/regulatory), emerging risks, and themes or systemic issues that may impact the risk assessment of the audit universe and the audit plan.
• Lead and drive strategic transformation of Audit through innovation, adoption of data analytics and AI to enable continuous monitoring / continuous auditing to detect potential issues on an ongoing basis.

Qualifications

• 5+ years of relevant experience in model development, model validation, or model audit functions.
• Strong knowledge of model governance, risk management, model regulations and compliance in global markets.
• Working knowledge in machine learning, modelling techniques, statistical tests and tools such as SQL, Python, R and SAS.
• Working knowledge of the operations and regulatory environments for each unit as applicable.
• Proven ability to work in high levels of ambiguity and in a rapidly changing environment.
• Highly proficient at applying Scotiabank methodology and using risk-based auditing standards and practices.
• Strong analytical skills in the use of data analytics or visualization tools.
• Ability to execute and supervise multiple projects at any given time.
• Highly developed interpersonal and communication skills (verbal and written).
• Strong people management and coaching/development skills.
• Curiosity mindset.
• Master’s degree in quantitative areas such as finance, mathematics, physics, statistics, or equivalent working experience.

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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