Our client, a leading bank, is looking for a VP Audit to cover their Wealth Management division.
29th April, 2021
Location(s): Los Angeles, CA **Initially 100% remote until COVID subsides**
Job Synthesis & Description
The VP, Internal Audit position is a leadership role as an auditor-in-charge to guide a team of auditors to assess risks, develop detailed audit programs, identify data analytic opportunities, execute audit programs, analyze results of testing performed, and effectively communicate audit results to the Audit Senior Manager/Director and senior management in meetings, presentations, and/or written reports and memorandums. Additionally, the position is responsible for maintaining and executing a continuous monitoring program in accordance with audit methodology and taking into consideration industry development, emerging risks, and regulatory changes and expectations. This role will focus on the Wealth Management division of the bank.
Audit and Assurance General Requirements
Plans, executes, and evaluates audit test plans for projects of medium to high complexity with a risk-based audit approach.
Assesses risks and controls, designs comprehensive audit programs, executes audit procedures, supervises and reviews the work of others, analyzes and synthesizes results of testing performed, effectively communicates results to senior management to affect change, and delivers well-written audit reports and other forms of communication.
Manages staff assigned to engagements, and collaborates with other audit groups to effectively plan, integrate and execute audits.
Understands fraud, BSA/AML, and general IT risks in order to identify and assess key control activities in business processes.
Assesses information security and privacy policies and procedures to identify weaknesses within the business process or activity being audited.
Leads and executes continuous monitoring activities periodically for the area assigned. Gathers and evaluates information received from business units and other external/regulatory sources.
Ability to multi-task and work in a dynamically changing environment.
Complies fully with all Bank policies, procedures, audit methodologies, training, and regulatory requirements.
Data Analytics and Technology:
Discover patterns, insights, trends, and anomalies from straightforward analyses, data sets, and visualization tools.
Execute basic analyses (e.g. descriptive) and create simple visualization using standard tools.
Develop requests for advanced analytics by providing detailed and clear questions to the Data Analytics Lead or Data Scientist.
Applies advanced analytical techniques to test hypotheses and add insights into audit findings.
Understands concepts of data lineage and data stewardship in order to develop effective data analytics that provides insights.
Relationship Building and Client Experience
Supports the Audit Director proactively in their ongoing monitoring and discussions with business management.
Continuously builds trusting relationships with Internal Audit peers and business management.
Acts as the key contact and responds to inquiries from businesses throughout the audit process.
Challenges others’ thinking or approaches in a constructive manner.
Advises stakeholders on internal control and governance matters and conducts proactive and ongoing risk management discussions with business leaders.
Influences key stakeholders to gain buy-in, overcomes challenges and delivers on high-priority initiatives, and draws conclusions or makes recommendations based on audit evidence that may involve ambiguity.
Staff Performance and Mentoring
Acts as a role model/mentor to more junior auditors and provides constructive feedback.
Enhances and maintains staff morale. Prepares and conducts formal/informal training for less experienced staff members.
May participate in interviews and evaluations of new applicants.
Bachelor's Degree in accounting, finance, or related field required.
Minimum 7 years of audit or related experience in banking operations, compliance, and/or risk management activities.
Minimum 3 years of experience conducting internal audits within financial institutions and supervising staff.
CPA - Certified Public Accountant Or
CIA-Certified Internal Auditor Or
CISA- Certified Information Systems Auditor Or
CFA - Charter Financial Analyst Or
CAMS-Certified Anti-Money Laundering Specialist Or
CISSP - Certified Information Systems Security Professional Or
Skills and Knowledge
Strong verbal and written communication skills to effectively present to peers and business management.
Demonstrated negotiation and leadership skills needed to convey ideas and obtain management buy-in for constructive change.
Effectively manage ambiguity, work independently, think innovatively and demonstrate critical problem-solving skills.
Strong understanding of internal auditing standards, COSO and risk assessment practices.
Strong understanding of internal control concepts and application of such.
Strong working knowledge of banking industry laws and regulations.
Experience in planning and juggling multiple projects and with varying team members.
Experience in coaching junior auditor.
Sound knowledge and experience in IT audit is strongly preferred.
Familiar with data analytics, robotic process automation and artificial intelligence tools.
Experience in use of data visualization and reporting – e.g. Tableau and/or Alteryx is a plus.