Overview
About the Job:
This position offers a challenging and rewarding opportunity to join the Internal Audit team of a prestigious international bank. The role involves conducting comprehensive audits, assessing risks, and providing advisory services to ensure the bank’s operations are efficient, compliant, and secure. The ideal candidate will possess a strong understanding of banking regulations, internal control frameworks, and risk management principles, with a proven ability to lead and execute audit engagements.
Key Responsibilities (Detailed Breakdown):
Spearhead Internal Client-Facing Teams and Guide Solution Delivery:
– Lead and manage audit teams in executing audit engagements, ensuring adherence to audit methodologies and standards.
– Act as a primary point of contact for clients, fostering strong relationships and understanding their needs.
– Provide clear direction and guidance to team members, ensuring timely and effective delivery of audit solutions.
– Independently lead smaller, focused audit modules within larger engagements, demonstrating ownership and accountability.
– Manage the workflow and scheduling of audit tasks to ensure efficient resource utilization.
Identify, Assess, and Monitor Risks:
– Develop and implement risk-based audit plans, focusing on key risk areas within the bank’s operations.
– Conduct thorough risk assessments to identify potential vulnerabilities and recommend mitigating controls.
– Monitor the effectiveness of existing risk management frameworks and provide recommendations for improvement.
– Stay abreast of emerging risks and regulatory changes that may impact the bank.
– Develop risk management plans and strategies that are aligned with the banks overall risk appetite.
– Assist Clients in Addressing Compliance, Financial, Operational, and Strategic Risk:
– Evaluate the bank’s compliance with relevant regulations and internal policies.
– Assess the accuracy and reliability of financial reporting processes.
– Review operational processes for efficiency and effectiveness, identifying opportunities for improvement.
– Evaluate the bank’s strategic initiatives and assess their potential impact on risk.
– Provide recommendations to management on how to strengthen internal controls and mitigate risks.
– Assist Team Members in Developing Technical and Professional Competency:
– Provide coaching and mentoring to junior auditors, sharing knowledge and expertise.
– Conduct training sessions on audit methodologies, regulatory requirements, and industry best practices.
– Support the professional development of team members by providing feedback and guidance.
– Act as a resource for the team when questions arise.
Independently Execute Assignments:
– Conduct reviews of systems, internal controls, and operational processes.
– Re-engineer processes to improve efficiency and effectiveness.
– Develop and document Standard Operating Procedures (SOPs).
– Conduct cost and working capital optimization reviews.
– Document audit findings clearly and concisely.
Effectively Deliver Tasks on Projects:
– Execute audit tasks in accordance with established audit programs and timelines.
– Maintain accurate and organized audit documentation.
– Communicate audit findings and recommendations to management in a clear and concise manner.
– Manage Multiple Assignments and Related Project Internal Teams:
– Prioritize and manage multiple audit engagements simultaneously.
– Coordinate with other departments and stakeholders to ensure timely completion of audits.
– Manage internal project teams, ensuring effective communication and collaboration.
Meet Quality Guidelines Within Established Turnaround Time/Budget:
– Adhere to audit quality standards and ensure accuracy and completeness of audit work.
– Complete audits within established timelines and budgets.
– Proactively identify and address potential delays or budget overruns.
Establish Deep Relationships with Client Personnel:
– Build and maintain strong relationships with key stakeholders across the bank.
– Understand the client’s perspective and tailor audit approaches to meet their needs.
– Communicate effectively with client personnel at all levels.
– Assist Clients with Testing Internal Process Controls and Developing Internal Audit Plans:
– Conduct testing of internal controls to assess their effectiveness.
– Assist in the development and implementation of risk-based internal audit plans.
– Help to ensure that the audit plans are comprehensive.
– Assess the Current State of an Organization’s Internal Control/Sarbanes-Oxley Act Framework:
– Evaluate the design and effectiveness of internal controls over financial reporting.
– Identify and address control deficiencies and weaknesses.
– Help clients drive value and efficiency in their internal controls by implementing leading practices.
– Ensure compliance with all applicable regulations.
Qualifications:
– Bachelor’s/ master’s degree in Accounting, Finance, Business Administration, or a related field.
– Professional certification (e.g., CIA, CPA, CA, CISA) is highly desirable. –
– Minimum years of experience in internal audit, preferably within the banking industry.
– Strong understanding of banking regulations (e.g., Basel Accords, AML/KYC).
– Excellent knowledge of internal control frameworks (e.g., COSO).
– Proven ability to conduct risk assessments and develop audit plans.
– Strong analytical and problem-solving skills.
– Excellent communication and interpersonal skills.
– Ability to work independently and as part of a team. –
– Proficiency in audit software and tools.
Desired Skills:
– Experience with data analytics and audit automation.
– Knowledge of specific banking products and services.
– Familiarity with international accounting standards (e.g., IFRS).