Senior Audit Manager, Model Risk

Job title: Senior Audit Manager, Model Risk

Company: Scotiabank

Job description: Requisition ID: 187248

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.


Leads and manages audits as Officer in Charge (OIC) to assess the design and operating effectiveness of model risk management and controls and provide high quality, value-added recommendations to management. In particular, the incumbent will be required to assess the effectiveness of the methodologies used for Retail Credit, Artificial Intelligence / Machine Learning models as well as other new emerging areas such as Fraud, and their compliance with regulations, internal policies, and procedures.


  • Leads strategic transformation of Audit through innovation, adoption of generative AI and best in class technologies.
  • Leverage advance data analytics to enable continuous auditing to detect potential issues on an ongoing basis.
  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
  • Leads planning, execution, and reporting on the assigned audit projects within scheduled timeline and resource through a thorough understanding of the business/unit/process/associated risks and respected risk-based procedures.
  • Manages and supervises end-to-end audit execution process and ensures nature and extent of testing is appropriate to support the objective, scope, and overall opinion.
  • Ensures audit findings and results are gathered and timely communicated to management with identified root cause, associated impact, audit recommendations and management actions that address the root cause. Ensures audit reports are written to a consistent high standard and are finalized within established department metrics, and corrective action/progress against any reported issues are followed-up with escalation where necessary.
  • Assists in the development and execution of a comprehensive and strategic audit plan. Ensures auditable entities remain within cycle and conducts ongoing monitoring activities to stay abreast of changes (business/industry/regulatory) / emerging risks / themes or systemic issues that may impact the risk assessment of the audit universe and the audit plan.
  • Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates the by fostering an inclusive work environment and using a coaching/mentoring mindset, communicating vison/values/business strategy, and managing succession and development planning for the team.
  • Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions, cyber security and conduct risk.


  • Master’s degree in Quant area such as Math, Statistics, Economics, Engineering, and Business etc.
  • 5+ years of relevant experience in development or validation of predictive models, including linear regressions, forecasting, time series, ARIMA, and artificial intelligence and machine learning techniques etc. Working knowledge in statistical tests and tools such as SQL, Python, R and SAS.
  • 3+ years of working knowledge in Credit and Fraud risk management. Experience in risk strategy an asset.
  • Strong knowledge of risk management, model risk management, project management, model regulations and compliance.
  • Highly developed interpersonal and communication skills (verbal and written) to work with staff and management at various levels. Proven ability to supervise multiple projects at any time and work in high levels of ambiguity and changing environment.

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 . 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.

Expected salary:

Location: Toronto, ON

Job date: Thu, 21 Dec 2023 23:02:57 GMT

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