Audit

Internal Audit Specialist - Model Risk Management - Internal Audit

The Model Risk Management Audit Specialist works in the Risk Management Audit Team within the Internal Audit Department (IAD) and is responsible for supporting and assisting with the management of audits related to model risk management, including annual and continuous audits, reviewing and approving audit work papers, tracking outstanding audit/regulatory observations, and training audit staff.

Key Responsibilities:

  • Focus on model risk management (*MRM*) as a specialist with subject matter expertise, facilitating audits focused on MRM governance, model validation, model development documentation, ongoing model monitoring and evaluation, policies and procedures, as well as technical support involving quantitative and qualitative models of varying complexity and application.

  • Use of technical expertise to evaluate risks throughout engagements to ensure significant risk areas are adequately and appropriately tested.

  • Use subject matter expertise to additionally support audits in the Risk Management space, including Interest Rate and Liquidity Risk Management, CECL and other audits involving the use of models. Facilitate IAD's examination and assessment of models utilized, including identification of risks and weaknesses as well as controls to manage model deficiencies.

  • Be the primary source of IAD knowledge and expertise in the model risk management space, including technical understanding of model methodologies and rationales, industry practices, risks and controls.

  • Assist the Audit Directors in the development of the Audit Plan and performance of risk assessments within the MRM space.

  • Keep the Audit Directors and other IAD management informed of control weaknesses and emerging risks, regulatory concerns, thematic issues, and developing methodologies and technology in model-related areas.

  • Represent IAD as subject matter specialist for MRM in attendance of meetings and presentations, as well as interactions with regulatory institutions.

  • Support and engage in audits, including planning, risk and control evaluation, design of audit programs and testing procedures. Ensure that audit work is performed effectively and timely, and relevant control weaknesses are identified and reported.

  • Help ensure audit work papers have been reviewed and documentation meets IAD and professional standards. Support preparation of written audit reports that are clear and concise.

  • Effectively communicate findings to business area and IAD management on a regular basis (both orally and written) in a manner that helps them understand the risk/control issues.

  • Effectively track and assist in the validation of audit and regulatory issues in model and risk management areas. Provide formal and informal training to IAD personnel and other colleagues as needed, including feedback and supportive coaching in model-related areas.

  • Work constructively with other functions or department. Performs special projects, and additional duties and responsibilities as required.

Qualifications:

  • Advanced degree (Master's or Doctorate) in a quantitative field, e.g. statistics, mathematics, engineering, physics, mathematical finance or related fields.

  • Eight years' experience in financial services industry or areas involving model development or assessment.

  • Experience in internal audit, risk management or risk oversight functions is desirable.

  • Comprehensive knowledge of model methodologies and quantitative techniques.

  • Awareness of model governance issues and impact of models on institution performance and viability.

  • Excellent verbal, written and interpersonal communication skills. Strong analytical skills.

  • Ability to work with all levels of staff and management.

    Click here to apply

 

Audit Vice President - Internal Audit

This company is seeking an exceptionally organized and detail-oriented candidate to join the Internal Audit group. This position reports to the Head of Audit for Shared Services and will assist in the planning and execution of audits across the firm. This will entail researching business units and services they engage in and identifying relative risks; executing fieldwork, including business unit interviews; documentation and testing of processes and controls; and, assisting in the drafting and vetting of findings, issues and related actions plans.

Key Responsibilities:

Lead audits and projects across the full spectrum of the audit cycle of planning, fieldwork and reporting. This includes:

  • Planning – identification and evaluation of key processes, risks and controls, preparation of audit programs and other procedures to test controls;

  • Executing fieldwork – leads stakeholder interviews, documentation (e.g., process narratives, walkthroughs, testing, etc.) and testing of processes and controls;

  • Reporting – draft audit findings, issues and related actions plans, with minimal oversight and edits from IA Management team.

  • Preparation and communication of action plans to re-mediate any control deficiencies, including influencing relevant stakeholders.

  • Takes ownership and accountability of key deliverables, including Audit Announcement Memo, Audit Planning Memo, and audit reports

  • Monitors budget slippage and other key metrics (e.g., 100-day rule) and takes correction actions, including timely escalation to IA Management

  • Establishes and owns relationships with leadership teams in the shared services / holding functions (e.g. accounting, financial reporting & analysis, central compliance, tax, human resources, legal & compliance, etc.)

  • Monitors and reports on the disposition and status of action plans and conducts substantive tests of compliance as necessary

  • Takes ownership and accountability for some components of the audit universe, providing updates to the risk assessment and keeping it evergreen by identifying new activities, divestitures and significant changes to businesses

  • Participating in IA’s annual risk assessment and planning process, including proposing audits, budgets, etc.

  • Supervises junior staff members or co-souring professionals in the execution of audits and other projects

  • Keeps abreast of industry and product specific developments and raise any risk and control related topics of interest to Internal Audit management

  • Promotes, and is an ambassador of, the department’s value proposition

  • Continuously fosters relationships with coworkers and clients

Qualifications:

  • At least seven years of experience working as an auditor covering shared services/holding company functions (e.g. accounting, financial reporting & analysis, tax, human resources, central compliance, etc.) for financial service firms.

  • Public accounting or consulting firm experience a plus (focused on internal audit services, external audit services, or risk-based consulting)

  • Good understanding of processes and risks of shared services functions

  • Exceptional organization skills and attention to detail

  • Possesses outstanding intellect, analytical abilities, and self-confidence

  • Proven ability to independently anticipate and provide solutions to complex problems

  • Strong work ethic and demonstrates personal commitment to work and team’s success, and leads by example

  • Strong communication and influencing skills (oral and written), confident and capable of presenting in a clear and compelling manner to stakeholders

  • Strong understanding internal auditing theory and techniques, including types of risks, controls and testing procedures as well as related work paper standards

  • Excellent writing and documentation skills (ability to write succinct and cohesive process narratives, issue statements, findings and action plans)

  • Strong multi-tasking abilities between audits/projects while working independently and within a group environment

  • Ability to take direction and execute successfully with minimal supervision

  • Display a healthy skepticism and strong aptitude for precision

  • Ability to learn quickly and research topics and risks germane to areas under audit

  • Solid understanding of MS Word, Excel, PowerPoint, Visio, Access and common internal audit work paper tools (i.e., automated work papers)

  • Aptitude to develop both technical and soft skills in a growing organization, takes advantage of learning opportunities

  • Can independently analyze issues and develop and execute plans that contribute to significant improvements in financial and operational performance and risk reduction

  • Can independently evaluate the adequacy of the controls in the context of relative risks to area under audit

  • Receives and provides coaching well and applies comments going forward

  • Proven track record of supervising junior level auditors, including coaching and providing feedback in the performance evaluation process

Click here to apply

Associate - Senior Auditor - Investment Bank

Key Responsibilities:

• Leads two or more audits simultaneously at a minimum
• Conduct and document more complex and high risk audits throughout the Corporation
• Demonstrates professional skepticism and comfort with questioning how certain processes are being performed in order to facilitate making improvements
• Finalizes planning documents
• Assisting in Audit Plan evolution by challenging scoping of audit project
• Functions in various roles on audit assignments, including leading audits, staffing audits, and providing oversight functions based on the needs of the team
• Applies analytical skills to review information, perform assessments of the audit results, and evaluate the adequacy of controls
• Leads a team of 1 or more staff in executing audits
• Works closely with the Audit Team Leader/Manager I or II to perform/develop the audit planning, scoping, and fieldwork execution strategy
• Works closely with the Audit Team Leader/Manager I or II to develop the audit budget and/or timeframe for how the audit will be completed
• Reviews the work papers of the audit team members ensuring that departmental standards have been met
• Communicates the audit status to business unit and Audit Services management. Responsible for direct interaction with different committees and/or management
• Completes and compiles findings and recommendations for the purpose of status updates, memos, and audit reports
• Coordinates with other audit teams (business unit, regional, and specialist) to ensure evaluations of related areas occur timely and cover key areas within the audit
• Provides training, coaching, and auditing expertise to the audit team
• Operates independently; has in-depth knowledge of business unit/function
• As subject area expert, provides comprehensive, in-depth consulting and leadership to team and partners at a high technical level
• Carries out activities that are large in scope, cross-functional and technically difficult
• Role is balanced between high level operational execution and development, and execution of strategic direction of business function activities
• Leading continuous monitoring meetings with business and Audit Services management 

Qualifications:

  • College or University degree and auditing and/or systems experience in a financial institution or similar public accounting experience in the financial services industry is preferred

  • Knowledge of audit procedures and standards usually obtained through related work experience and a four year degree program is required 

  • Has a comprehensive understanding of the Audit Services' Internal Audit Charter, Policy and Methodology and adheres to all applicable requirements within those documents

  • Knowledge of corporate policies and procedures that relate to auditing/accounting standards and analytical skills are necessary to prepare audits

  • Knowledge of the operations, functions, and objectives of interfacing areas is required to properly audit operations, services, systems, workflow, and operational impact on other areas

  • Excellent oral and written communication skills are required

  • Must be flexible and adaptive to change  

    Click here to apply

Assistant VP - Compliance Audit

Key Responsibilities:

Dynamics Associates is currently working with an American multinational private equity, alternative asset management and financial services firm. This firm is currently looking to expand their compliance audit team by bringing on an Assistant Vice President. The ideal candidate will help the ongoing implementation of the firm’s risk assessment by developing and updating the firm-wide risk matrix as well as, executing testing of procedures and internal controls. This individual will also be responsible for assisting in the implementation of compliance technology systems.

Qualifications:

  • 5-10 years of experience within a major financial services firm or accounting firm.

  • Very strong analytical and organizational skills.

  • Must have the ability to work independently but still be a strong team player.

  • Experience evaluating and implementing compliance systems.

Click here to apply

Audit Director - Auditing

Key Responsibilities:

Dynamics Associates is currently working with a Global Investment Management firm looking to expand their Internal Audit Group by bringing on an experienced Audit Director. This individual will contribute to the strategic planning, process innovation and project management of the assurance and advisory activities of the team. The individual will also understand the asset and risk management businesses while having the ability to build strong relationships with a multitude of business partners.

Qualifications:

  • 10 – 15 Years of experience within, internal audit, risk management, operations, finance and compliance activities.

  • Experience with developing and maintaining relationships with both senior management and external regulators.

  • Understanding of investment management, trading or capital markets businesses.

  • Great understanding of current regulatory and industry events.

 Click here to apply

IT Audit Director - Auditing

Key Responsibilities:

Dynamics Associates is currently working with a leading provider of investor communications and technology solutions to the financial industry. This firm is looking to bring on an IT Audit Director to lead the execution of the audit process, including performing the IT Audit fieldwork and mentoring associate members. On top of identifying key risk and controls, this individual will also need to develop valuable and positive relationships with internal business partners.

Qualifications:

  • BS/BA degree and 6+ years of experience in audit, technology risk management, information security and/or technology governance.

  • Experience with cloud infrastructure/development and cyber security are necessary.

  • One or more technology-based certification such as, CISA, CIA, and/or CISSP.

  • The ability to travel 20% of the time.

Click here to apply