Associate, Operational Risk Oversight - First Line Testing (Toronto, ON)
Requisition ID: 87627
Join the Global Community of Scotiabankers to help customers become better off. Purpose
Assists in the planning and execution of testing key controls and assess their adequacy to effectively manage operational risks of the respective Global Banking & Markets (GBM) business lines (Line 1A in the three lines of defense model for managing non-financial risks) and thereby contributing to the overall success of the first line of defense in managing non-financial risks inherent in the businesses. Accountabilities
- Assist in the development, planning and execution of GBM first line test program for the periodic testing of key controls to assess their design and operating effectiveness in managing operational risks in the respective GBM business lines;
- Assist with providing regular reporting to GBM Management of the condition of internal controls in the respective business lines including analyses of root causes of control breakdowns and determines appropriate corrective actions;
- Assist with the maintenance of Issues Tracking Database for the First Line testing and provide summary updates to GBM Management at least quarterly basis;
- Assist with the follow-up of open issues identified from the first line testing and ensure recommended corrective actions have been remediated;
- Maintain regular communication with GBM Compliance to determine changes to regulatory rules and understand their impact on various GBM business units;
- Assist in updating and documenting key controls recorded in eRCM (Enterprise Regulatory Compliance Management) system to reflect impact of internal audit findings, regulatory findings, compliance testing results and any other self-identified issues;
- Assist in the maintenance and updates of key controls inventory for GBM business lines (1st Line);
- Assist in identifying and addressing underlying causes of control breakdowns or instances where controls are inadequate
- Support the applicable Business Lines by responding to questions about internal control matters;
- Other duties and projects as may be assigned from time to time.
- At least five years' experience in a trading and operational risk management role;
- In-depth knowledge of capital markets business;
- Expert knowledge of internal controls;
- Strong written and verbal communications and inter-personal skills.
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.
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