Internal Control Analyst

$69,400 - $129,000/Yr

Banque Scotia (Bank of Nova Scotia) - New York City, NY

New York City, NY

Credit Intermediation and Related Activities

About the position

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. The Internal Control Analyst, First Line Supervision & Support (FLSS) contributes to the overall success of the front line/first line of defense 1B control group within the United States ensuring specific individual goals, plans, and initiatives are executed and delivered in support of the Global Transaction Banking (GTB) and Cash Management strategies and objectives. The Analyst will assist in providing supervisory support and devote time learning subject matter expertise in the products and services offered by Scotiabank U.S. businesses. The role involves ensuring all activities conducted are in compliance with governing regulations, internal policies and procedures, and working closely with the Manager and Senior Manager FLSS to meet industry practices and regulatory requirements related to the GTB business unit.

Responsibilities

• Knowledge in Payments Businesses including Deposits, Cards, and Trade Finance and being able to communicate, develop, and cultivate relationships with sales and product teams.
• Knowledge in the operational aspects, compliance and business matters for Transactional Banking products and services.
• Assist the leadership and Front Office businesses on operational/process, risk, and compliance issues and internal/external obligations.
• Coordinate analyses of operational risk events (losses, gains and near-misses) to ascertain underlying causes and formulate action plans to address process breakdowns.
• Provide support on delegated supervisory tasks from the businesses (1A).
• Help to develop, when necessary, monthly oversight reports, including trend analysis, for delivery to and discussion with the respective head traders/business line heads.
• Support leadership in the development and maintenance of supervisory procedures at the business line/desk level.
• Help to develop and provide training to business line (1A) personnel on non-financial risks, controls, and supervisory procedures.
• Participate in RCSA, CRCA, and Risk ID execution and liaise with 1A to identify processes, risks, controls, and corresponding ratings.
• Participates in risk impact assessments of changes resulting from business expansion into new geographies, new products and services, organic business growth, system changes/new implementation, regulatory requirements.
• Participate in the collation of information required by regulators and internal audit to facilitate the latter's examinations/reviews.
• Provides support to leadership on regulatory and audit findings and work with business line management (1A) to track responses.
• Participate and when necessary, lead, special projects across the different US Business Units.
• Assist Front Office on operational/process, risk, and compliance issues and internal/external obligations.
• Provide support to the leadership in the collation of information and execution required by Compliance and internal audit to facilitate examinations/reviews.
• Participate in the analysis and documentation of risk events to ascertain underlying causes and formulate action plans to address process breakdowns.
• Collaborate in risk events incidents documentation and escalation process, investigating and remediating as necessary.
• Collaborate with other stakeholders to provide, document, and improve efficiencies and key metrics (KRIs/KPIs) on supervisory and operational risk topics for senior management when required.
• Actively 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 and conduct risk.
• Champions a high-performance environment and contributes to an inclusive work environment.
• Other duties and projects may be assigned from time to time.

Requirements

• Previous experience in Capital Markets Trading Floor, Front Office, Finance or related fields.
• Bachelor's Degree in Economics, Finance or Business Management related fields.
• Past experience of working with regulations and familiarity with latest laws.
• Strong written and verbal communication skills, ability to guide decision making process and facilitate consensus.
• Ability to network, collaborate, and interview stakeholders to attain necessary information for drafting internal control documentation and Written Supervisory Procedures ('WSPs').

Benefits

• Flexible benefit programs designed to support unique family, financial, physical, mental, and social health needs.