Senior Audit Manager - Scotiabank, Toronto

AI Summary

This Senior Audit Manager role at Scotiabank in Toronto, Ontario, involves leading internal audit activities focused on Financial Crimes and Anti-Money Laundering (AML). The position ensures the bank's compliance with governing regulations and internal policies.

Key duties include acting as Officer in Charge for audits, supporting the AML Audit Program, and presenting audit findings to management. Top requirements include a university degree, over five years of relevant experience, and expertise in BSA/AML laws and regulations within a financial services environment.

About the Role at Scotiabank

As a Senior Audit Manager within Scotiabank's Internal Audit department, you will play a critical role as part of the 3rd Line of Defense, providing independent and objective assurance over the design and operations of the bank’s internal controls, risk management, and governance processes. This position is integral to executing the global mandate of the Audit Department, ensuring all business strategies, plans, and initiatives, along with audit activities, are conducted in strict compliance with governing regulations, internal policies, and procedures. You will thrive in a challenging environment, working collaboratively with management to identify and implement solutions that address control weaknesses. The dynamic nature of this role requires an innovative approach, leveraging data to deliver industry-leading assurance and insights crucial for safeguarding the bank and its customers. Your contributions will directly support the integrity of the financial environment and the robust management of risk across the institution.

Key Responsibilities and Contributions

In this pivotal management position, you will primarily act as Officer in Charge (OIC) for assigned audits, and may also serve as Audit Principal for low to medium complexity audit activities. A significant aspect of your role involves providing essential support to the VP and Director(s) of AML/ATF & Sanctions Audit with the comprehensive management of the AML Audit Program. This includes overseeing test scripts, training initiatives, annual planning, quarterly reporting, and the annual report to the Board of Directors. You will also engage in continuous monitoring activities, special projects such as regulatory remediation, and the day-to-day operations of the AML Centre of Excellence, specifically assessing Financial Crime related controls in Transaction Monitoring, Sanctions, and Know Your Customer (KYC) areas.

As OIC/AP, you will oversee the entire execution, planning, and reporting lifecycle of audits, gaining a thorough understanding of end-to-end business processes and associated risks to develop appropriate risk-based audit approaches. Furthermore, you will ensure audit results are meticulously gathered, root causes of problems are determined, and findings are prepared for presentation to management, followed by diligent tracking of corrective actions. Building and maintaining strong relationships with internal and external stakeholders, including regulators, is also a key component of this role within the bank.

Skills and Experience for Success

To excel as a Senior Audit Manager, candidates must possess a university or post-secondary degree in Business or an equivalent field, complemented by relevant audit or business certifications. A minimum of five years of relevant experience is required, demonstrating deep expertise in BSA/AML laws and regulations, alongside practical experience with OSFI and FINTRAC requirements, and the ability to apply these effectively within a financial service environment. The ideal candidate will be adept at executing testing against AML laws and regulations, including assessing risks related to model design, data, output, and governance.

Proven ability to lead the validation of AML issues identified during audits, ensuring effective and sustainable corrective action implementation, is crucial. This involves reviewing management's action plans, conducting follow-up testing, and confirming issue resolution in line with regulatory expectations and internal policies. Strong analytical skills, particularly in the use of data analytics or visualization tools, are essential, as is the ability to execute and supervise multiple projects concurrently. Furthermore, highly developed interpersonal and communication skills, coupled with strong people management and coaching abilities, are vital for fostering a high-performance environment and supporting a client-focused culture across the bank. A curiosity mindset and the ability to thrive in high levels of ambiguity and a rapidly changing environment are also highly valued attributes for this internal audit role. Relevant professional qualifications such as CAMS, CPA, CFA, or CISA will be considered beneficial.