Title:  Director, U.S. AML Audit

Requisition ID: 208526

 Salary Range: 174,700.00 - 286,000.00 

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

Global Banking and Markets

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. 

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.  

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries!  We work together to drive ambition for every future! 

Purpose

The Director of U.S.  Anti-Money Laundering (AML) Audit is a member of the U.S. Audit Management team and is responsible for leading a team of auditors, effectively overseeing all audit activities across U.S. AML, and serving as an interface with U.S. AML Leadership. 

The incumbent is responsible for determining, and has overall ownership over, the audit universe, plans, coverage, and strategy, assessing and opining on remediation of issues and the control environment across U.S. BSA/AML and KYC Onboarding, supporting the assessment of AML regulatory risk and related controls in other areas, and ensuring that all audit activities across their team are conducted in AML with regulatory requirements and internal policies and procedures.  Additionally, the incumbent is responsible for contributing to the overall success of the U.S. Audit Department by ensuring that specific individual, team and departmental goals, metrics, plans, and initiatives are executed and delivered in support of the overall U.S. and Global Audit strategies and objectives. 

The incumbent should have extensive knowledge of AML, be proficient in applying risk-based auditing standards, practices, and techniques, and demonstrate a strong working knowledge of the U.S. regulatory environment and emerging risks. 

What You’ll Do 

Audit Portfolio:

• Identify systemic and emerging issues and strategic changes planned / undertaken by AML stakeholders that will impact their portfolio and the audit plan, including review of business / strategic plans, review and update risk assessments across the audit portfolio, attend periodic meetings with key management to understand changes and new business initiatives and review key performance indicators. 
• Contribute to, prepare, and present audit reports to Management Committee(s), regulators / examinations, and stakeholder meetings.
• Manage the Annual Planning and Risk Assessment process across their audit portfolio. Prepare the audit plan strategy, and provide input into the development, completion, and reporting of the Annual Audit Plan (and any changes to the plan). Continuously assess risk throughout the year to identify other areas of emerging risk for audit coverage consideration and ensure the latest industry standards and regulatory requirements are incorporated to keep the audit plan current and robust.
• Effectively utilize the full capacity of their team(s) and adequately plan and schedule dates that enable successful and on-time delivery of audit commitments 
• Review and approve audit issues to confirm that internal control weaknesses and root causes are identified, properly defined, documented, and reported, focused on meaningful change in the control environment; ensure issues raised by their team are understood by senior management and that corrective action will be taken; prepare and review audit reports for presentation to stakeholders.  
• Audit Reports and Memos across their audit portfolio are written to a consistent high standard of quality, articulating key and impactful messages to stakeholders, and finalized within established metrics.
• Maintain a thorough understanding of the business, regulatory risks, key current technologies and processes for assigned areas and provide effective guidance to the audit teams. 
• Direct day-to-day activities across their team in a manner consistent with the Bank's risk culture and the relevant risk appetite statement and limits. Communicate the Bank's risk culture and risk appetite statement throughout their teams.
• Monitor team conformance with audit methodology and quality assurance requirements standards are met on all assignments, including work paper review and approvals, issue monitoring, and reporting.

Stakeholder Relationships:

• Lead and drive a customer focused culture at all levels of their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Develop and maintain effective communication and engagement with internal and external stakeholders (globally and locally) and management, including establishing routine touchpoints and appropriate handling of conflicts and issue resolution, and active involvement as a non-voting member on appropriate committees and working groups.
• Build credibility and a strong relationship with the various regulators in the U.S., assess emerging regulatory expectations and guidelines, and work to continuously strengthen the U.S. Audit Program.

Human Resource Management:

• Build a high-performance environment and implement a people strategy that attracts, retains, develops, and motivates the team for continuous learning and improvement by fostering an inclusive work environment; communicating vison/ strategy; coaching and supporting development goals; and managing succession and development planning for the team.
• Be proactive in identifying and owning responsibility for leading change within Audit (U.S. and Globally).
• Prepare/review (for direct reports) periodic and annual performance self-assessments.  
• Manage recruiting, interviewing, selection, and onboarding of audit staff.
• Manage self-development by/through confirming job expectations and develops and manages his/her personal development plan and identifying mentors/coaches.

What You’ll Bring 

• 12+ years working in AML, Internal Audit, Risk and Control, Regulatory and/or related experience.
• Strong working knowledge and experience over AML, including the U.S. regulatory environment. Prior auditing experience is highly desired.
• Internal or external audit background.  Professional accounting or similar risk-based designation (ACAMs, CPA, CIA, CFA, etc.) and committee presentation experience is preferred. 
• Excellent written communications skills are essential. In addition, the incumbent should be skilled at verbal presentation, of a caliber suitable for direct exposure to executive management.
• Prior audit experience and highly proficient at applying risk-based auditing standards, practices, techniques, processes and methodologies is preferred.
• Strong knowledge of banking and the financial services industry particularly process governance, risk management, operations and regulatory environment
• Knowledge of data analytics tools, Word, Excel, PowerPoint / presentations, and audit software

What's in it for you?

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs. 

Location(s):  United States : New York : New York City

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.