Our client, a leading bank, is looking for a Senior Audit Director to join their growing team.
08th October, 2021
Location(s): Los Angeles, CA or 100% Remote (candidate preference)
Job Description & Synthesis
The Senior Audit Director oversees the Banking Platform areas and is a key strategic leader with bank wide impact and combined US operations (CUSO). Position shares with the Chief Audit Executive, the responsibility for developing the risk rating for the banking platform auditable entities; developing a detailed audit and execution plan for the entire banking platform and subsidiaries - Wealth Management; Treasury Management; Specialty/Entertainment/Personal & Business Banking, Mortgage Banking and bank subsidiaries. The Senior Audit Director will provide independent and objective evaluation of the adequacy and effectiveness of internal controls, risk management practices, corporate governance processes, and fraud prevention and detection for the platform. In addition, the Senior Audit Director will be accountable for ensuring continuous improvement focused on audit practices and deployment of digital tools as applicable. This leader will promote effective internal control awareness in the respective business lines through positive and collaborative relations with business executives, regular reporting on the business control environment, and structured interactions with key business leaders and President of the banking platform to discuss critical audit outputs, risks assessment, status of issue remediation, provide and solicit feedback.
Leadership & People Management:Leads/manages a team of internal audit professionals at the Banking Platform level. Accountable to ensure there are sufficient resources with appropriate level of subject matter expertise to develop and execute annual audit plan. Manages large, highly complex or strategic projects (thematic audits) that impact the bank as required.
Relationship Building and Client Experience: Engages business Executives, Regulators, External Auditors, and Audit committee of the Board of Directors on a required or regular basis to facilitate proactive and ongoing dialogue or reporting relating to internal control matters impacting the banking platform. Effective management of highly sensitive situations with high-impact outcomes (with stakeholders) that could have material impact on the platform, and escalates control issues to the CAE in accordance with the IA escalation model. Keep business executives and CAE abreast of significant control issues with potential significant impact on the platform. When negotiating, knows when to insist, when to compromise and when given a stalemate to seek a fresh perspective. Adopt appropriate conflict management approach to handle sensitive situations or de-escalate sensitive situations.
Audit and Assurance:Influence and inform the Internal Audit strategic audit plan, adapt IA guidelines as required, and execute to success. Recommends and lead the execution the approved annual audit plan for the banking and subsidiaries platform, and provide timely reporting to executives including CAE. Drives the continual assessment of key and emerging risks at the platform level, and adjusts annual plans as necessary. Concludes on the effectiveness of internal controls, enterprise policies, processes and procedures. Initiates collaboration as needed with 1st and 2nd line of defense in assessing the effectiveness of internal controls including the risk management framework, enterprise policies, processes and procedures. Drive collaboration with other audit teams to provide holistic assessment and assurance of the end-to-end processes in key product lines. Accountable to understand IT risks related to proprietary technology for the platform to ensure adequate audit coverage.
Data Analytics and Technology: Shifts the capabilities of team members towards a predictive insights-driven organization. Creates networks and relationships with key stakeholders in the platform and/or IA global level, to ensure their team is equipped with the right data, capabilities and tools for data analysis. Identifies and drives to completion, key analytics that could help the enterprise mitigate internal control risks.
Bachelor's Degree accounting, computer science, MIS or related field
Minimum of 10 years of progressive experience within a top tier financial services organization or Big “4” public accounting firm required.
Minimum of 5 years experience managing a large staff, 10-15 employees
Minimum 5 years of Audit experience (strategic planning through reporting) in a senior leadership role
MBA, CIA or CPA certification is strongly preferred.
Ability to work in a dynamically changing environment and leading people through modernization from traditional auditing to focus on data analytics.
Risk Management experience in any one of Operational Risk, Market Risk, Credit Risk, or Liquidity & Funding Risk.
Strong banking (personal or commercial) Knowledge of USA financial banking institutions.
Experience leading integrated business projects audits with technology implications.
Experience in successfully dealing with US regulators over an extended period (3-5 years) as key lead or deputy.
Risk Management or Regulatory/Compliance experience – experience in any one of Operational Risk, Market Risk, Credit Risk, or Liquidity & Funding Risk. In either 1st or 2nd line of defense.
Strong leadership skills. Excellent communication skills, oral and written. Ability to interact effectively with management and staff at all levels.
Experience dealing with Regulators; and business AML Compliance.
Experience leading integrated business audits with technology auditors
Understanding of core technology (applications and infrastructure) of the platform.
CISA, CIA or CPA certification and an MBA are strongly preferred.
Knowledge of the Paisley GRC system highly desirable.
Passion for client service, strong work ethic, highest integrity and a can-do positive attitude.
Excellent working knowledge of industry audit processes, business policies and current business and information technology developments.
Demonstrate experience in audit-related fields, including a working knowledge of appropriate risk management techniques as well as a strong understanding of audit processes and internal controls.
Ability to analyze risk trends at a macro level, identifying signs of changing risk levels and/or symptoms of process control breakdowns.
Ability to initiate and implement continuous improvement of the Risk Evaluation & Monitoring process