Director, Retail Credit Audit

Scotiabank - Toronto, ON (30+ days ago)

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Requisition ID: 82844

Join the Global Community of Scotiabankers to help customers become better off.

Leads and oversees the Audit Function globally ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures.

Ensures all activities conducted are following governing regulations, internal policies and procedures.


Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
Act primarily as Audit Principal or in some cases Officer in Charge (OIC) for assigned projects, processes and units. Also acts as a change agent to negotiate corrective action and follow-up to ensure timely corrective action is taken.
Ensure Scotiabank standards and the Institute of Internal Auditors (IIA) Code of Ethics are maintained in completion of all assignments.
Work with business lines/product groups/risk management functions to provide advice and counsel in the design of internal controls.
Responsible for the ongoing assessment of the safety and soundness of business processes, policies and procedures within assigned products/portfolios/business lines, including key performance indicators, changes, provisions, etc. Responsible for ensuring that the processes adequately support business strategies, plans and initiatives.
Develops and executes a comprehensive and strategic audit plan. Ensures auditable entities remain within cycle and conducts ongoing monitoring activities to stay abreast of changes (business/industry/regulatory) / emerging risks / themes or systemic issues that may impact the risk assessment of the audit universe and the audit plan. May also execute assigned audit activities independently as a team member under the direction of the OIC on assignments.
Oversees the execution, planning, and reporting on the assigned audit projects. Obtains a thorough understanding of the business/unit/process and associated risks, develops a risk-based audit plan/procedure, and schedules timing and resources.
Defines and leads the end-to-end process of the execution of the audit and ensures nature and extent of testing is appropriate to support the objective, scope and overall opinion. Completes timely review of workpapers, ensures internal control weaknesses are clearly documented with recommendations addressing the root cause and are communicated timely to management.
Ensures audit results are gathered, determine the root cause of the problem and the associated impact and report accordingly. Confirm the audit results with the auditee. Prepare and/or review audit review findings for presentation to management. Monitor and follow-up for corrective action/progress against any reported issues. Ensure relevant information that impacts other audit function areas is shared.
Ensures audit reports are written to a consistent high standard and are finalized within established department metrics.
Carry out specific projects or investigations of a complex and/or confidential nature. Plan, document and seek agreement in advance to the project approach and confirm conclusions upon completion in writing. Assist in the due diligence of potential acquisitions.
Manages the development of staff by establishing and monitoring the execution of goals and development plans and conducting periodic performance assessments. Provides ongoing direction and coaching to staff and assists with team development through training and monitoring. Imparts specialized knowledge to colleagues through peer discussions and co-operation on cross-functional audits.
Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors; communicating vison/values/business strategy; and, managing succession and development planning for the team.


Under graduate degree in Business, Accounting or equivalent at a minimum.
At least 10-12 years of relevant experience in retail and small business risk management and /or internal audit covering all areas of retail credit life cycle.
Highly proficient at applying risk-based auditing standards, practices, techniques, processes and methodologies to performance and review of audits.
Working knowledge of the operations and regulatory environments of each of the retail credit units globally.
Ability to supervise multiple projects at any given time.
Strategic thinking and influencing skills earned through exposure to complex assignments and projects.
Highly developed interpersonal and communication skills (verbal and written) to work with staff and management at various levels.
Strong people management and coaching/development skills.
Strong analytical and modelling skills and proficiency in the use of data analytic or visualization tools.
Proven ability to work in high levels of ambiguity and in a rapidly changing environment.

Location(s): Canada : Ontario : Toronto

As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.

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.