Responsible for the ongoing assessment of the safety and soundness of the business processes, policies and procedures within the bank’s Trading, Treasury and Wealth Management (WM) portfolios.
Works in collaboration / conjunction with Head Office Audit teams and VP’s and SVP’s, to define department standards for the audit of all risks inherent in these portfolios and ensure that these standards are maintained in completion of all regional assignments.
The key areas of focus are determining whether internal controls, risk management and governance processes are adequately designed, Responsibilities include annual planning and risk assessment, oversight of audit execution and reporting, fulfillment of annual plan, internal client relationship management, consultation and subject matter expertise, external relationship management with regulators and external auditors, execution of special projects.
Professional economist / accounting or similar risk based designation. MBA or similar studies are desired.
Working knowledge of banking and the financial services industry with at least 7 years of experience
Thorough knowledge of regulatory requirements within areas / geographies of scope
Highly proficient at applying risk-based auditing standards, practices, techniques, processes and methodologies to the performance and review of audits
Working knowledge of accounting standards, practices and techniques
Working knowledge of the operations and regulatory environments of each of designated audit units.
Highly skilled at analysis and problems solving, including being able to develop constructive and practical solutions on a timely basis
Highly developed interpersonal and communication skills (verbal and written) to work with staff and management at various levels
Fluency in English and Spanish / Other (as applicable).
Become familiar at a detailed level with the policies & guidelines of Trading, Treasury and WM, and with the local policies of each country under his / her scope
Become familiar at a detailed level with the full range of Trading, Treasury and WM products offered in each country under his / her scope in which the Bank has such a business
Develop clear conception of the inherent credit, market, operational, model, product, fraud, technology, and other risks inherent in each of the portfolios.
Become familiar with the local regulations, especially with the market risk (methodologies & models) and counter-party credit risk, and how such information is aggregated for financial reporting purposes.
Work with country audit teams and Head Office to define audit universes in each of the subsidiaries. Each country’s audit universe needs to be consistent with those in the rest of the bank but also accommodate differences that may exist between countries
Work with country / regional audit teams to risk assess the audit universes consistently across the region
Identify strategic changes planned / undertaken by the auditees that will affect the audit plan
Develop an audit strategy that ensures that all key risks are audited in each country according to the risk assessment and according the regulatory requirements of each country.
Coordinate similar audits to be planned to be executed simultaneously
Develop standardized audit project outlines and detailed audit programs for the audits to be performed
For newly acquired banks, these APOs and DAPs need to be developed based on fundamental risk assessment and management principles.
Monitor status of Annual Audit Plans for completion to ensure deliverables are met
Provide training, coaching, and guidance to regional audit teams to ensure that auditors have the correct level of expertise to be able to execute Trading, Treasury and WM audits at a level consistent with global audit standards.
Provide input to local audit management for the development of staff; impart specialized skills and / or knowledge to other audit officers through peer discussions and cooperation on cross-functional audits, coaching and performance management.
Create an environment of continuous improvement by sharing best practices
In conjunction with local audit management, direct the planning of audits for diverse units by ensuring scope and extent of work is reasonable, procedures are efficient, appropriate resources are assigned, and risks understood.
Take responsibility for the planning, execution and quality of the annual Trading, Treasury and WM audit plan, in conjunction with the local Chief Auditors and in order to satisfy the requirements of the local regulators.
Ensure an integrated audit approach is applied, including secondment of staff from other business lines to assist in the audit project and from Head Office teams.
Ensure department standards are followed in execution of assignments including the appropriate nature and extent of audit coverage
Supervise staff in the audit and execution of projects through on-site reviews and / or remote monitoring; determine the effectiveness and reliability of internal control in relation to defined requirements;
opine on the efficiency and effectiveness of key processes
Ensure that regional audit teams identify internal control weaknesses, appropriately quantify errors, properly define, document, and report problems, and ensure that issues are clearly understood by management owner and that corrective action will be taken.
Prepare consolidated reports for audits covering more than one individual country
Maintain effective internal communication through the ongoing sharing and acquiring of information; ensure senior management are kept informed of issues and concerns as they arise.
Maintain effective communication with bank senior management / auditees including appropriate handling of conflicts and issue resolution.
Supervise activities performed by external auditors as required.
Be current with changes realized by GRM, Compliance etc to the relevant Manuals and guidelines.
Make internal and external presentations as required.
Continue self-development to expand or maintain an understanding of the business line’s key processes and business applications.
Assist with Quality Assurance program as required.
Keep abreast of changes in laws, regulations, professional standards and changes in the Bank that could affect the business risk profile.