Scotiabank

Director Credit Risk Audit

Toronto, Ontario, Canada

Job Summary

This job has a focus on the audit of Retail and Small Business Credit Risk Management and includes the testing of retail policies, limit setting, analysis and reporting in the Canadian Bank.

The objective of testing is to evaluate the design and operation of internal controls for retail credit risk management in order to assess key risk management processes including adjudication; new product review and approval; presence and enforcement of lending guidelines; loan approvals both via automated as well as exception processes; monitoring; and loss provisioning, while ensuring Audit Department standards are maintained in completion of all assignments.

The position is at a Director level and the role is to supervise and direct staff in the completion of audits for assigned projects, processes and units.

Where audit issues are identified, act as a change agent to negotiate appropriate corrective action and follow to ensure timely corrective action is taken.

To keep the Vice-President, Credit Risk Audit apprised of significant audit findings and other issues as they are identified.

Accountabilities

Reporting to the Vice President, Credit Risk Audit you will be responsible for:

1. Annual Planning
• Develop audit project outlines for assigned projects following development of the Annual Audit Plan.
• Establish and manage work plans based on approved audit project outlines, including project schedules and status updates to execute the Annual Audit Plan.
• Execute the assigned projects in the Annual Audit Plan and monitor status of completion to ensure that deliverables are met.

2. Engagement Planning
• Direct the planning of audits or assigned areas by ensuring the scope and extent of work is in accordance with the approved plan, timing and budget are reasonable, procedures are efficient, appropriate resources are assigned, and risks understood.
• Schedule audits and resources as necessary, ensuring the approved audit plan is implemented; ensure an integrated audit approach is applied, including secondment of staff from other business lines to assist in the audit project.
• Develop a thorough understanding of the business, risks and processes for assigned projects.
• Identify emerging issues that may impact the audit plan.
• Develop and/or update Detailed Audit Programs (DAPs) as required.

3. Audit Execution
• Supervise staff in the audit and execution of assignments including the appropriate nature and extent of audit coverage.
• Evaluate the adequacy of system design and internal control framework in meeting business, operational and control objectives.
• Ensure department standards are followed in execution of assignments including the appropriate nature and extent of audit coverage.





4. Problem Identification
• Ensure that internal control weaknesses have been properly identified, documented and reported, and that identified issues are clearly understood by management and confirm that corrective action will be taken.
• Identify underlying causes of control weaknesses and provide practical recommendations as to how they can be mitigated.
• Review audit findings from other participants for presentation to line management.
• Follow up on assigned issues in the Issue Tracking Database for timely resolution.

5. Reporting
• Prepare audit reports for management, providing concise and accurate information on the condition of the unit (if applicable), and the adequacy of
processes/operations.
• Review/edit reporting from team members and summarize issues in a draft audit report for review by the assigned supervisor/VP on a timely basis.
- Document audit findings in the audit issues tracking database.

6. Self/Staff Development and Teamwork
• Prepare periodic and annual performance self-assessments, personal goals and objectives for measurement of performance, career development and training plan and monitor quarterly for achievement/completion.
• Provide guidance and mentoring to less experienced staff and assist in team development by training, guiding and monitoring development of staff.
• Create an environment of continuous improvement by sharing best practices.

7. Internal/External Communication
• Maintain effective internal communication through the ongoing sharing and acquiring of information.
• Maintain effective communication with auditees and line management including appropriate handling of conflicts and issue resolution

8. Human Resource Management
• Ensure audit resources are efficiently and effectively deployed
• Ensure appropriate HR/Performance management practices are deployed (ie. PAR's, performance measurement, coaching, feedback, career development, etc.)
• Manage staff development and motivation by/through: communicating job expectations and assessing progress; identifying mentors and ensuring training needs are met; ensuring timely completion of performance appraisals; recruiting, interviewing and selecting audit candidates.

9. Special Projects
• Conduct special investigations and perform due diligence activities as assigned.

10. Other
• Maintain on-going relationships with audit clients, line management, regulators and external auditors as required.
• Make internal and external presentations as required.
• Keep abreast of changes in laws, regulations, professional standards, and changes in the Bank that could affect the business risk profile.
• Assist with work performed on behalf of the external auditors as assigned.
• Continue self-development to expand and understanding of the business line´s key process and business applications.





• Knowledge of Retail Credit Risk Management including use of models for scoring, adjudication, monitoring and provisioning, Basel, credit risk mitigation techniques (including collateral), and portfolio analysis.
• Expert ability to write clear, concise audit reports as well as internal and external communication
• Teaching level knowledge of audit processes and methodologies.
• Thorough knowledge of MS Word, Excel and audit software tools.
• University Degree
• Post-graduate degree in Business Administration or Accounting Designation desirable