Manager, First Line Testing, U.S. Internal Controls
Posted on: 6 Apr 2021
New York City, New York
Job Description
Requisition ID: 96268
Join the Global Community of Scotiabankers to help customers become better off.
In this role, you will assist 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.
Is this role right for you? You will be responsible for:
* Assisting 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
* 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
* 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
* Maintaining regular communication with GBM Compliance to determine changes to regulatory rules and understand their impact on various GBM business units
* Updating and documenting key controls recorded in iRCM (Enterprise Regulatory Compliance Management) system to reflect impact of internal audit findings, regulatory findings, compliance testing results and any other self-identified issues
* Assisting in the maintenance and updates of key controls inventory for GBM business lines (1st Line)
* Assisting in identifying and addressing underlying causes of control breakdowns or instances where controls are inadequate
* Supporting the applicable Business Lines by responding to questions about internal control matters
Do you have the skills you need to succeed? We'd love to work with you, if you have:
* At least 5 years of experience in a trading and/ or operational risk management role in a Financial Services Firm or Consulting Firm
* An in-depth understanding of financial markets, products and control functions
* Good knowledge of internal controls
* Strong written and verbal communications
* The ability to be self-motivated and experience in working on complex projects
Scotiabank
New York, New York
Scotiabank is one of the leading foreign banks serving large national and multinational corporations in the U.S. through its Global Banking and Markets, Global Transaction Banking and Wealth Management business lines.
Scotiabank's offices in the U.S. do not provide retail or consumer deposit, account, or cash services and cannot assist with account inquires or servicing needs of retail accounts held in other countries.
In the United States, Scotiabank has been operating for over 100 years and serves clients through teams of Relationship Managers and Product Specialists working together to offer multi-product solutions to clients' financial needs. In addition to our strong Corporate Banking experience, we offer an expanded U.S. equities platform and Global Fixed Income platform. We also have Primary Dealer status in several key countries including the U.S. Scotiabank's offices in the U.S. do not provide retail or consumer deposit, account, or cash services and cannot assist with account inquires or servicing needs of retail accounts held in other countries.
Wealth Management in Miami delivers U.S. Private Banking solutions for non-U.S. residents and non-U.S. citizens. With offices in North America, Latin America and the Caribbean, Scotia Private Client Group addresses your unique financial needs through our global expertise and local insight.
Scotia Institutional Asset Management US, Ltd. is an indirectly wholly-owned subsidiary of Scotiabank and is registered as an investment adviser with the Securities and Exchange Commission to provide investment services to individuals and institutions in the U.S. Scotia Institutional Asset Management US, Ltd.’s services are available to investors in the U.S. through separate accounts and a mutual fund family sponsored and marketed by Scotia Institutional Investments US, LP, an affiliate of Scotia Institutional Asset Management US, Ltd. and an SEC registered investment adviser.
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IndustryBanking/Financial Services
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No. of Employees10,000+
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Website
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Jobs Posted131
