Audit Manager, Capital Markets - Structured Finance

Join a purpose-driven, winning team committed to results in an inclusive and high-performing culture within Global Banking and Markets (GBM). 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 clients an important bridge to this key global market for trade and investment flows across the Americas. GBM offers a full range of investment banking, credit, and risk management products and services, including 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.

About the role

As the Bank’s third line of defense, Internal Audit provides enterprise-wide, independent, and objective assurance over the design and operating effectiveness of internal controls, risk management, and governance processes. The Auditor supports the Audit Department’s global mandate by delivering audits and initiatives that align with the team’s strategy and business objectives. The successful candidate will perform and manage audits covering capital markets activities within the U.S., assessing the design and operating effectiveness of key controls across Global Banking & Markets businesses. Coverage includes Mortgages (warehousing, originations, RMBS, and/or whole loan trading), Commercial Real Estate Financing (warehousing, originations, and/or CMBS), Futures and Clearing, and/or Cash Management.

Responsibilities

• Champion a client-focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Manage and/or support the Officer in Charge (OIC) with the execution of assigned audits.
• Provide day-to-day oversight of audit execution, including coaching team members, reviewing workpapers and audit deliverables, and ensuring timely, high-quality completion of assigned audits in line with audit standards. Collaborate with other audit teams as required.
• Contribute to special projects, including investigations and other initiatives requested by management.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Ensure Scotiabank standards and the Institute of Internal Auditors (IIA) Code of Ethics are maintained in all assignments.
• Stay informed of relevant business risks and controls, and effectively convey risk-related information to the Officer-in-Charge.
• Maintain stakeholder relationships to successfully carry out audit activities.
• Champion a high-performance environment and contribute to an inclusive work environment.
• Meet Department training requirements.
• Gather audit results and assess the impact of findings on the internal control framework, including confirming findings with the auditee and discussing root causes with the OIC.
• Review control effectiveness of managing risks in trading activities, including trading and sales practices controls within Front Office units and overall trading management oversight.
• Assess the effectiveness of risk management controls, measurement techniques, limit design and monitoring, risk reporting, and traded products valuations based on an understanding of trading strategies and products.
• Evaluate the effectiveness of transaction recording, deal lifecycle, collateral management, margining, settlement, and cash movement controls, including those applicable to Futures and Clearing and Cash Management activities.
• Work with auditors within the audit department to perform end-to-end business line reviews.
• Maintain knowledge of capital markets practices, policies, procedures, and local regulations.
• Perform and/or manage audits covering capital markets businesses such as Mortgages, Commercial Real Estate, Futures and Clearing, and/or Cash Management, including assessment of front office activities, middle/back-office processing, risk management practices, and related regulatory obligations.
• Provide support to stakeholders on capital markets issues and/or changes.
• Engage and coordinate with stakeholders for audit issue resolution.
• Support the unit’s continuous monitoring program 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.

Requirements

• University/Post-secondary degree or relevant experience.
• Technical/Professional qualifications such as CIA and/or CFA preferred.
• 5+ years of progressive experience in audit and capital markets environment.
• Knowledge of capital markets products and prior auditing experience covering trading, treasury, or asset-based businesses, with preference for experience in Mortgages, Commercial Real Estate, Futures and Clearing, and/or Cash Management.
• Exposure working with traders and risk management personnel is an asset, along with an understanding of the U.S. regulatory environment around trading activity.
• Experience auditing businesses subject to U.S. regulatory requirements applicable to derivatives, clearing, margining, collateral management, mortgage-related activities, or payment and cash management services is strongly preferred.
• Strong analytical skills necessary to assess risk exposures and understand risk quantification and valuation methodologies.
• Ability to quickly understand the risks associated with new products, processes, and routines, and formulate audit procedures to ensure controls are adequate.
• Self-starter with strong judgment, problem-solving, and time-management skills, capable of managing multiple workstreams in a dynamic and complex business environment while meeting tight deadlines.
• Excellent written communication skills, including strong issue and audit report writing abilities, as well as verbal engagement and presentation skills suitable for direct exposure to senior management.
• Prior exposure to front-to-back audit coverage across asset classes and business models (e.g., secured financing, clearing, client cash flows) is an asset.
• Working knowledge of risk-based audit methodologies.
• 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.
• Strong interpersonal and communication skills (verbal and written).
• Curiosity mindset.

Pay

Salary range: $90,000.00 - $167,200.00. Please note that the salary range shown is a guideline only. Salary offered may vary based on factors including the successful candidate’s relevant knowledge, skills, and experience.

Benefits

Scotiabank offers flexible benefit programs designed to support holistic well-being, including family, financial, physical, mental, and social health needs. Employees are empowered to reach their fullest potential in a performance-oriented culture.