Title:  Senior Manager, First Line Testing, US Internal Control

Requisition ID: 197854

 Salary Range: 110,700.00 - 211,800.00 

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 Senior Manager, First Line Testing, US Internal Control is responsible for developing, planning, and executing testing of key controls and assess their adequacy to effectively manage operational risks of the respective Global Banking & Markets (GBM) business lines and thereby contributing to the overall success of the first line of defense in managing operational risks inherent in the businesses. In addition, you will oversee the management of regulatory compliance risk inherent in business line by helping GBM Management to design, test, monitor and report on controls in place to mitigate the regulatory risks, as well as the management of the GBM first line testing team to ensure compliance with the Bank’s testing program.

What You’ll Do

• Work with the 1st Line Testing Lead to develop, plan and execute GBM’s first line test program for carrying out the periodic testing of key controls to assess their design and operating effectiveness in managing operational risks in the respective GBM business lines.
• Develop, maintain, and enhance the first line testing methodology including risk assessment criterion of scheduling, frequency, and selection of controls for testing.
• Assess and report the adequacy of the design and operating effectiveness of key controls in the GBM business lines.
• Arrange and discuss testing results with key stakeholders, including GBM Senior Management.
• Attend, discuss and provide regular reporting to Managing Director and Director, U.S. Internal Control and 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.
• Maintain GIMS for the First Line testing issues and provide summary updates to GBM Management monthly.
• Develop plans for follow-up of open issues identified from the first line testing and ensure recommended corrective actions have been remediated.
• Provide support to GBM 1st Line testing initiatives commenced in Canada which have U.S. touch points.
• Stay updated with the current knowledge of applicable regulatory news through participation in industry associations and seminars and maintain the database for regulatory fines, exam, priorities, and reports.
• Coordinate with the business lines, Compliance and Regulatory Business Initiative (RBI) on topical and emerging regulatory pronouncements impacting the scope of the testing program.
• Work with the technology team to build testing workflow tool and develop required templates and structure to automate the testing working module.
• Support the applicable Business Lines by responding to questions about internal control matters.
• Assess key tasks within Internal Control Governance team to identify opportunities for efficiency through streamlining and automation of processes and controls.
• Other duties and projects as may be assigned from time to time.

What You’ll Bring

• At least 10 years of experience in a trading and/ or Internal Audit or operational risk management role in a Financial Services Firm or Consulting Firm
• A detailed and in-depth understanding of financial markets, products, and control functions
• Expert knowledge of internal controls
• Demonstrates proven impact and influencing/communication skills to engage cross-functional teams
• Strong written and verbal communications.
• Strong interpersonal skills to nurture relationships and mandate as required
• Self-motivated and experience in managing complex projects on behalf of senior stakeholders

Interested?

If your experience is closely related but doesn’t align perfectly with every qualification, we do encourage you to apply - you might be the right candidate for this or other roles at Scotiabank! 

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture. 

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.