Story Behind the Need:

• Business Group: The Bank’s Internal Audit Department plays a key role as the Third Line of Defense. The Retail Credit Risk Management Audit Group has responsibility for providing independent assurance over the effectiveness of controls for retail credit risk management.
• Project: The position will provide independent, objective assessment, and evaluation of the effectiveness of internal retail risk management controls relating to Real Estate Secured Lending’s Program Enhancements across the credit lifecycle (i.e. adjudication, underwriting, account management, collections and provisioning). The incumbent will provide high quality, value-added recommendations to management relating to control testing. The incumbent will ensure that department standards are met on all assignments.
• The ideal candidate will have approximately 5-7 years of experience in Real Estate Secured Lending retail credit risk management, knowledge of risk management regulatory framework, and be proficient in advanced data analytics. The incumbent should also have good presentation and report writing skills, display good balance between technical knowledge (decision support systems and technology) and soft skills.
• Candidate Value Proposition: The successful candidate will have the opportunity to join one of the top banks in Canada!

Typical Day in Role:

• Auditing and Execution
• Execute assigned audit activities independently as a team member or Officer-in-Charge (OIC).
• Assess the overall effectiveness of governance and management oversight over Real Estate Secured Lending Program Enhancements.
• Assess controls across credit risk functions, including regulatory obligations, policies, risk appetite and limits, adjudication and exception frameworks, risk systems, risk reporting, account management, collections, and data governance and data quality, provisioning.
• Determine the efficiency, effectiveness, integrity and reliability of internal controls in relation to defined control requirements, employing data analytics to support conclusions, where applicable.
• Execute and manage assigned activities independently in accordance with the Department Standards ensuring audit testing is sufficient and appropriate to support the audit opinion.
• Document all audit work performed to ensure appropriate working papers are maintained and conform to department standards.
• Problem Identification
• Identify and assess materiality of control weaknesses ensuring facts are gathered and determine the root cause of the problem impact, prepare / review audit findings, as applicable.
• Reporting/Communication: Draft audit findings, reports and correspondence to management. Ensure writing is clear, concise and accurate.
• Present and discuss findings and progress with management, as required.
• Follow up on open action items and/or new audit issues raised.
• Develop and maintain good relationships with key auditee and business line management.

Authority/Decision making/direction received:

• Works independently within the mandate of the Department, and with periodic consultation from the Director and/or Vice President.
• Escalates issues impacting deadlines, risk, and material error.
• Identifies changes to the scope/extent of assigned work based on initial research/audit findings and seeks input from the Director.

Candidate Requirements/Must Have Skills:

• 5+ years of overall experience with retail credit risk management
• 3+ years experience with Real Estate Secured Lending policies, methodology, strategies, and process
• Knowledge of analytical tools such as SAS, R or Python and experience using PowerBI.
• Experience with data analytics and processing large data sets

Nice-To-Have Skills:

• Knowledge of audit processes and methodologies and/or prior change management testing experience would be an asset.
• Ability to write clearly and concisely.

Soft Skills:

• Strong strategic, analytical, problem-solving, and critical thinking skills.
• A self-starter / takes initiative, deals well with ambiguity, is detail oriented.
• Highly organized, ability to work in a dynamic and fast paced environment.
• Strong people skills, including relationship building with clients.

Education:

• A graduate degree in a quantitative discipline (e.g., Mathematics, Finance, Economics, or Statistics).

Interview:

• 1 step video call with HM 60 min

Best vs Average:

• The best candidate would have experience with Real Estate Secured Lending policies but would also be familiar with data analytics.