Our client, a leading bank, is looking for VP of Internal Audit to report directly into the Chief Audit Executive.
30th April, 2021
Job Description & Synthesis
Under the supervision of the SVP, Chief Internal Auditor, the VP, Compliance Internal Audit Manager conducts compliance audits of central operations departments, administrative departments, lending units, and other business activities of our client and its subsidiaries. The audits may cover any functional or organizational activity, with emphasis on complex and higher-risk areas. The VP, Compliance Internal Audit Manager, plans, conducts, coordinates, and directs the activities of assisting auditors. Additionally, the VP, Compliance Internal Audit Manager will function in a consultative role within the IA Department for all compliance audits and act as the IA Department’s Compliance Liaison with the Compliance Department. The VP, Compliance Internal Audit Manager performs all duties in accordance with the International Standards for the Professional Practices of Internal Auditing.
The incumbent may have 3-4 direct reports.
Plans the audit by performing surveys of functions and activities in assigned compliance areas to determine the nature of the operations and the existence and adequacy of the internal controls used to achieve established objectives and compliance with regulations. Prepares a Planning Memo.
Designs risk-based audit programs that test selected controls to determine whether they function as intended.
Reviews verify and analyzes transactions, documents, records, and reports for accuracy, completeness, and appropriateness.
Evaluates the adequacy and effectiveness of internal control methods, policies, and procedures, and verifies compliance with laws and regulations.
Determines that duties are performed in accordance with company policies, operating procedures, other management instructions, and regulatory requirements.
Determines that transactions are recorded promptly and accurately.
Determines that assets are safeguarded adequately.
Conducts interviews with appropriate Company personnel to supplement assigned audit testing.
Prepares professional work papers including supporting documentation for each audit issue identified.
If required may act as Auditor-in-Charge, performs the following additional duties:
Plans the audit including the development of the risk assessment, high-level process flows, internal control documentation, and the audit program.
Assigns segments of the program to assist auditors.
Provides guidance to assisting auditors to ensure they conduct themselves in a professional manner.
Oversees staff assignments to ensure completion within established time budgets.
Immediately informs the Chief Internal Audit of any conditions that may adversely impact the auditor Company’s safety and soundness.
Reviews work papers prepared by assisting auditors for accuracy and completeness.
Prepares Exit Grid with findings and recommendations for the review and approval of the Audit Manager and Chief Internal Auditor.
Presents audit findings to management in Exit meeting.
Prepares draft audit reports for the review and approval of the Audit Manager and Chief Internal Auditor.
Performs follow-up to determine the existence and adequacy of corrective actions taken by management in response to audit recommendations.
Develops good working relationships with auditees and collaborates with auditees during the audit process.
During the professional performance of their duties, the VP, Compliance Internal Audit Manager is expected to:
Recommend revisions to audit programs resulting from changes in operating activities or regulatory requirements.
Recommend the scope of audit testing and the resources needed, including the use of computer-assisted auditing techniques (CAAT)
Performs fraud investigations as assigned.
Provides on-the-job training to Sr. Auditors.
Provides assistance to external auditors as assigned
Performs special projects as assigned by the Chief Internal Auditor.
Maintains and enhances technical and professional competence through continuing education.
BA/BS in accounting, business, finance, or related field preferred.
At least 8-10 years compliance audit and/or compliance experience in financial services and specifically related to consumer compliance/BSA/AML.
Effective oral, written, and analytical skills with demonstrated ability to deal effectively with all levels of management.
Strong understanding of compliance, internal control theory, and audit techniques.
Effective project management skills. Strong analytical skills and a good understanding of computer-assisted audit techniques. Must be a team player.
Ability to perform assigned duties with minimum supervision. Ability to travel, including occasional overnight and overseas assignments.