Senior Audit Analyst, US Capital Markets

Scotiabank•New York City, NY

9d•Onsite

About The Position

As the 3rd Line of Defense, Internal Audit provides enterprise-wide, independent, and objective assurance over the design and operations of the Bank’s internal controls, risk management and governance processes. We are professionals who thrive in a challenging environment and work with management to find solutions to address control weaknesses. The Auditor contributes to the overall success of the Audit Function in support of the Audit Department executing its global mandate, ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. The successful candidate will perform audits to assess the design and operating effectiveness of internal controls relating to capital markets activities within the U.S. The incumbent will be required to work as part of the team and assist the Managers and Senior Managers, US Capital Markets Audit to provide audit services to capital markets, investment banking and/or treasury functions within the Bank. The incumbent will also support the providing of high quality, value added advisory services to Management as part of the audits or special projects/assignments, while ensuring that audit methodology standards are met. Apart from possessing knowledge in capital market products and related risk management techniques, the incumbent should be able to apply risk-based auditing standards, practices, techniques, processes, and methodologies to the audit of the internal controls. Ensures all activities conducted are in compliance with governing regulations, internal policies, and procedures.

Requirements

University/Post secondary degree or relevant experience.
2+ years of relevant experience in audit and capital markets environment, with broad knowledge of capital markets products and/or prior auditing experience with respect to trading, investment banking or treasury activities, is a significant advantage.
Strong analytical skills necessary to assess risk exposures and understand risk quantification and valuation methodologies.
Ability to understand the risks associated with new products, processes, routines and execute on audit procedures to ensure that the controls are adequate.
Strong written communication skills which would include audit issue writing. In addition, the incumbent should be able to maintain effective verbal engagement and presentation, of a caliber suitable for direct exposure to business stakeholders of varying seniority.
Working knowledge in risk-based audit methodologies.
Knowledge of the operations and regulatory environments for each audit unit as applicable.
Ability to work in high levels of ambiguity and in a rapidly changing environment.
Proficient at applying risk-based auditing standards and practices.
Good analytical skills in the use of data analytics or visualization tools.
Good interpersonal and communication skills (verbal and written).
Curiosity mindset.

Responsibilities

Supports the Officer in Charge (OIC) with the execution of assigned audits.
Works with other audit teams as required.
Contributes to special projects as assigned including investigations and other special projects that Audit may be requested to perform by management.
Ensures audit results are gathered and assesses the impact of the findings on the internal control framework. This would include confirmation of the findings with the auditee and a discussion of the root cause with the OIC.
Champions a client focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Ensures Scotiabank standards and the Institute of Internal Auditors (IIA) Code of Ethics are maintained in completion of all assignments.
Stays informed of relevant business risks and controls. Effectively conveys risk-related information to Officer-in-Charge.
Maintains stakeholder relationships to successfully carry out audit activities.
Champions a high-performance environment and contributes to an inclusive work environment.
Meets Department training requirements.
Review the control effectiveness for managing risks in trading activities. Assess the trading and sales practices controls within Front Office units and overall trading management oversight.
Review effectiveness of risk management controls and measurement technique, limit design and monitoring, risk reporting and traded products valuations based on an understanding of the trading strategies and products.
Assess the effectiveness of transaction recording and deal controls.
Work with auditors within the audit department to perform end-to-end business line reviews.
Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
Maintain knowledge of capital markets practices, policies and procedures and local regulations.
Provide support to stakeholders on capital markets issues and/or changes.
Engagement and coordination with Stakeholders for audit issue resolution.
Support the unit's continuous monitoring program so as to understand and identify changing conditions within business, risk and corporate functions, keep abreast of changing risk profiles, guide assessment of emerging risks, identify systemic issues and determine current and future audit requirements.