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Director, Chief Auditor, Audit, Europe

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Job ID 115104 Jun. 29, 2022 London, United Kingdom
Purpose
Provides strategic direction, leadership and oversight for Audit in Europe ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures.

Subject to regulatory approval (and location), the jobholder will assume the senior regulated function applicable in their home jurisdiction (SMF in London or PCF in Dublin).

Primarily responsible for directing audit activities that impact the business of the Bank in Europe, covering the United Kingdom and Ireland in accordance with the BNS Audit Methodology. May assist in other regional BNS audits (e.g. APAC), as needed. 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. Act primarily as Audit Principal for assigned projects. Enlist the support of Group Audit Subject Matter Experts in audits needing specialist knowledge.

Responsible for ensuring that the processes audited adequately support the business strategies, plans and initiatives.

Conduct special investigations and assist with due diligence activities as assigned.

Work with business lines/product groups/risk management functions to provide advice and counsel in the design of internal controls. Act as a change agent to negotiate corrective action and follow-up to ensure timely corrective action is taken.

Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.




1.AuditPlanning

a.Identify systemic/emerging issues and/or strategic changes planned/undertaken by the auditee that will impact the audit plan including review of business/strategic plans, review and update the Risk Assessment Database for entities assigned, attend periodic meetings with key management officers to understand changes and new business initiatives and review Key PerformanceIndicators.

b.Maintain a thorough understanding of the business, risks and processes for assignedareas.

c.Draft and execute the Annual Audit Plan. Develop and implement a flexible Annual Audit Plan using the BNS Audit’s risk based methodology and based on a comprehensive view that has been informed by an understanding of the control environment, audit themes, as well as known and emerging risks identified through continuous monitoring, trends, open issues, industry and regulatory developments and discussions with the Audit Committees and Executive Management.

d.Schedule audits and resources as necessary, ensuring the approved audit plan is implemented. Ensure an integrated audit approach is applied, including secondment of staff from other audit groups to assist in the auditproject.

e.Direct and/or supervise the planning of audits for diverse units by ensuring scope and extent of work is in accordance with the approved plan, timing and budget are reasonable, procedures are efficient, appropriate resources are assigned and risksunderstood.

f.Direct internal audit activities including prioritization to ensure effective use ofresources

2.Auditing andExecution

a.Manage and/or supervise assigned activities independently in accordance with the Department Standards ensuring the nature and extent of testing is appropriate to support the audit findings and conclusions. In highly complex assignments, this includes ensuring appropriate completion and review of documentation prepared by audit teammembers.

b.As Audit Principal, complete on-site review of assignments as required ensuring documentation and reporting standards of the Audit Department Methodology aremet.

c.Undertake Continuous Monitoring to ensure coverage of areas not subject to audit in the period to inform greater insight into the changing risk profile of the firm /branch.

d.Attend (self or delegate) key local Scotiabank Management Committees as anobserver.

e.Monitor and report to line management on the strategic initiatives of the business unit.

3.ProblemIdentification

a.Ensure internal control weaknesses have been identified, errors have been quantified as appropriate, problems and associated impact are properly defined, documented and reported; identified issues are clearly understood and confirm that line management/product owner will take corrective action. Escalate to Senior Management, Audit Management and/or local Audit Committees as necessary for material controlweaknesses.

b.Prepare and/or review audit findings for presentation tomanagement.

c.Document reported issues in the Audit Issues Tracking Database as required and ensure status updates are followed upquarterly.

d.Review the quarterly status of outstanding issues as assigned for inclusion in reports to business management, audit management and the local AuditCommittees.

4.Reporting/Communication

a.Written reports and correspondence demonstrate a thorough understanding of issues with key risks clearly articulated and materiality clearly explained. Recommendations build in best practices observed in other units.

b.Oversee the preparation of the Quarterly Audit Report to the localAudit Committees, ensuring key risks observed during the quarter are identified and summarized for management. Identification to the local boards of key audits, risks or controls of applicable Bankaudits.

c.Provide input to the BNS Audit Committee report. This includes CAE Quarterly Submission package to BNS Audit and one-page synopsis of the quarterly results for UK &Ireland.

d.Preparation of the local Continuous Monitoring Reports on a quarterly basis through ongoing monitoring and discussions with management, to stay on top of new or emerging risks and the effective execution of the regional AuditPlan.

e.Presentation of findings to line management (or assist OIC) and audit closings asneeded.

f.Ensure audit findings are documented in the Audit Issues TrackingDatabase.

g.Monitor and follow-up for corrective action/progress against reported issues in the Audit Issues Tracking Database on a quarterly basis. Escalate to Senior Management, Audit Management and/or the local Audit Committees as necessary where corrective action items remain delayed, and impactcontrols.

h.Ensure relevant information that impacts other audit function areas isshared.

5.Whistleblowing

a.Review local Whistleblowing(WB) Policies on a two-year cycle to align with the BNS Whistleblower Policy and local regulatoryrequirements.

b.Be a point of receipt for any WB concerns. Manage the investigation process in consultation with the BNS Chief Auditor and in concurrence with the WhistleblowingChampions.

c.Support the Whistleblowing Champions in the discharge of relevantduties.

d.Report the whistleblower incidents received and concluded during the quarter to the localBoards.

6.HRManagement

a.Comply with department established HR Management policies andprocedures.

b.Attracting, developing and rewarding a diverse group of high performing employees whooperate with high standards of integrity. Ensuring that appropriately skilled human capital resides in the audit function in the Bank through continuous development of audit skills, knowledgeand coaching of staff.

c.Prepare/review (for direct reports) periodic and annual performance self-assessments, personal goals and objectives for measurement of performance, a career development and training plan and monitor forachievement/completion.

d.Manage the development of staff by providing direction and coaching; impart specialized skills to other audit officers through peer discussions and cooperation on cross-functional audits, coaching and performancemanagement.

e.Manage self-development by/through confirming job expectations; identifying mentors/coaches and enquiring about training needs; ensuring timely completion of performance appraisals; recruiting, interviewing and selectingcandidates.

7.SpecialProjects

a.As directed by senior management, carry out specific projects or investigations of a complex and/or confidentialnature.

b.Plan, document and seek agreement in advance to the project approach and confirm conclusions upon completion inwriting.

c.Assist in the due diligence of potentialacquisitions.

8.Other

a.Coordinate work performed on behalf of the external auditors asassigned.

b.Continueself-developmenttoexpandormaintainanunderstandingofthebusinessline’skey processes and businessapplications.

c.Provide advice and counsel directed at risk management and newinitiatives.

d.Provide advice and counsel on internal control design issues/changes with participation on stakeholder working groups asassigned.

e.Make presentations to other staff to share information for areas of specialization or information obtained in training programs and externalcourses.

f.Assist with Quality Assurance program as required including review of documentation and reports of assigned audit project and reporting of findings to Professional PracticeGroup.



Education/Experience
Teaching level knowledge of audit processes and methodologies.

Expert ability to write clear, concise audit reports as well as internal and external communication. Thorough knowledge of MS Word, Excel, and audit software tools.

Expert knowledge of the Bank’s organizational structure.

Thorough knowledge of risks and controls around Global Banking and Markets as well as Group Treasury business lines.

Thorough knowledge of related Bank policies, practices, products in the context of best practice and regulatory requirements and expectations.

Thorough knowledge of emerging regulatory trends and required ability to stay abreast of new audit standards in the UK and Ireland.

Expert communication/facilitation and presentation skills for developing communication strategies. Leadership skills for managing a team of audit professionals.

Dimensions
Scotiabank in Europe has the following Business Lines:

Corporate Lending, Group Treasury, Global Banking & Markets, GTB, Human Resources, Finance, Global Wholesale Operations, Compliance, Legal, Global Wholesale Technology

Complexity of regulatory environment in the UK and Ireland is High Complexity of accounting in local GAAP is in the UK and Ireland is High

Acts independently within the mandate of the Department and approved annual audit plan with consultation from the Vice-President, GBM & GT Audit.

Liaise on business process and control issues with line management.

Determine emphasis/extent of audit work then seek direction, perspective and resources required from department management.




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