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Form of workRequisition ID: 194811
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The Bank's Internal Audit Department plays a key role in the risk management processes of the Bank. Its mandate is to provide independent and objective assurance over the design and operating effectiveness of the Bank's internal controls and to provide advisory services to improve the Bank's operations. The Global Banking Markets (GBM) audit team is responsible for assessing the design and operating effectiveness of internal controls relating to capital markets trading and risk management activities in Toronto and international locations.
The candidate will contribute to evaluate the design and operating effectiveness of internal controls over the implementation of the models used in the capital markets and treasury business lines, and other types of models when opportunity arises. The candidate will also contribute to the key data analytics initiatives in the Audit Department by leveraging their computer programming and data visualization skills.
Key Accountabilities
- Under the direction of Senior Manager, Director and above, evaluate the design and operating effectiveness of the internal controls for the end-to-end Model Risk management cycle including model developing, validation and monitoring processes against the Bank's and regulatory guidelines/policies such as OSFI E-23 and other applicable regulations globally.
- Assist the audit team in identifying and articulating areas of improvements pertaining to Model Risk and provide value added recommendations to the key stakeholders (senior management, model developers, validators and users).
- Contribute to the audit testing routines using data analytics and participate in strategic data analytics projects.
- Communicate clearly in verbal format and in writing of testing procedures, outcomes, conclusion and observations/recommendations to peers and senior management.
- Meet all audit department standards and methodologies, as well as relevant regulations and conducts.
Functional Competencies
Soft Skills
- Excellent communications skills with a focus on collaboration and teamwork. Be able to articulate audit issues and recommendations with complex technical subjects to Senior Management and the other audit staff
- Strong analytical and problem solving skills with a proven record of creativity and innovation
- Strong curiosity with appropriate professional skepticism
Technical Skills
- Strong skills in computer programming in industry standard languages (e.g. Python) and data analytics/visualization tools (e.g. Power BI). Prior experience in data analytics projects an asset
- Exposure in mathematical finance theories and industry practice model methodologies used in derivatives pricing, risk management, capital adequacy and asset and liability management
- 0-2 years of experience in the financial industry. Exposure in capital markets and treasury areas an asset
Educational Requirements
Graduate degree in a quantitative discipline such as data science, financial engineering, economics, mathematics, statistics, physics, engineering, and computer science or information technology.
- Designation in FRM and/or CFA would be an asset, however not required.
Location(s): Canada : Ontario : Toronto
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.
