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Title:  Manager, Internal Controls, First Line Testing

                                                                                                               

 

 

Requisition ID: 135162  

Cost Centre: SCOTIA CAPITAL (USA) INC. 

Employee Referral Program – Potential Reward: $2,000.00 

We are committed to investing in our employees and helping you continue your career at Scotiabank. 

 

Purpose

 

Assists in the planning and execution of testing key controls and assess their adequacy to effectively manage operational risks of the respective Global Banking & Markets (GBM) business lines (Line 1A in the three lines of defense model for managing non-financial risks) and thereby contributing to the overall success of the first line of defense in managing non-financial risks inherent in the businesses.

 

Accountabilities

 

  • Assist in the development, planning and execution of GBM first line test program for the periodic testing of key controls to assess their design and operating effectiveness in managing operational risks in the respective GBM business lines;
  • Assist with providing regular reporting to GBM Management of the condition of internal controls in the respective business lines including analyses of root causes of control breakdowns and determines appropriate corrective actions;
  • Assist with the maintenance of Issues Tracking Database for the First Line testing and provide summary updates to GBM Management at least quarterly basis;
  • Assist with the follow-up of open issues identified from the first line testing and ensure recommended corrective actions have been remediated;
  • Maintain regular communication with GBM Compliance to determine changes to regulatory rules and understand their impact on various GBM business units;
  • Assist in updating and documenting key controls recorded in iRCM (Enterprise Regulatory Compliance Management) system to reflect impact of internal audit findings, regulatory findings, compliance testing results and any other self-identified issues;
  • Assist in the maintenance and updates of key controls inventory for GBM business lines (1st Line);
  • Assist in identifying and addressing underlying causes of control breakdowns or instances where controls are inadequate
  • Support the applicable Business Lines by responding to questions about internal control matters;
  • Other duties and projects as may be assigned from time to time.

 

Reporting Relationships (Job Titles only)

 

Primary Manager:

(include secondary Manager if applicable)

Director, Governance and Control, US Internal Control

Direct Reports:

None

Shared Reports (solid/dotted if applicable):

None

        

Dimensions

 

  • GBM contributes ~30% to the total net income of the Scotiabank Group;
  • Complex and very different business lines in GBM;
  • The incumbent is expected to maintain an in-depth knowledge of operational conditions throughout the applicable Business Lines and the state of regulatory matters, be able to resolve issues of non-compliance and to escalate issues promptly that are deemed to be serious, or have broad impact;
  • The incumbent should be able, on his/her own initiative, to resolve issues and recognize the need to involve his/her supervisor/s and/or Subject Matter Experts when required.

 

Education / Experience / Other Information (include only those that are specific to the role)

 

  • At least 5 years of experience in a trading and/ or Internal Audit, Compliance Testing or operational risk management role in a Financial Services Firm or Consulting Firm
  • In-depth understanding of financial markets, products and control functions
  • Good knowledge of internal controls;
  • Strong written and verbal communications.
  • Self-motivated and experience in working on complex projects

                                                                                         

Working Conditions

 

  • Dynamic, fast paced office-based environment. The role operates in a standard trading floor environment which is often very loud and requires intense focus to effectively manage trading and operational risk;
  • Occasional travel may be required;
  • Demands can be unpredictable;
  • In-office work hours may be long due to tight timeframes and the dynamic environment of capital market activities, and to provide support to other locations.

 

 

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.

Note: All postings in me@Scotiabank will remain live for a minimum of 5 days.


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