internal 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

Sr Manager - Internal Audit - Model & Market Risk

As the Senior Manager, you will provide an independent and objective assessment of the effectiveness of risk practices with a primary focus on Group Risk Management (GRM) and Comprehensive Capital Analysis Review (CCAR).

 

Key Responsibilities:

· Contribute to the development of a risk-based multi-year approach to the Risk Management audits.

· Through  in-depth  understanding  of  the  business  including  changes  to  the  regulatory  and  business environments, develop audit programs to ensure effective control solutions are implemented.

· Contribute to effective continuous audit monitoring by staying abreast of emerging risks both internally and externally.

· Provide an independent and objective assessment of the effectiveness of Risk Management practices with a focus on Market, Counterparty Credit, Model and Liquidity Risk.

· Provide an independent and objective assessment of the risk management practice at the firm including both the first and the second line.

· Planning and executing any combination of core capital planning disciplines: capital planning governance, risk identification, and scenario design, stress projections for revenue, balance sheet, RWA and capital, credit, market and operational losses, quantitative and qualitative estimation methods.

· Performing validation of management action plans and regulatory action plans related to risk practices

· Continually develop working relationship with business stakeholders to become a trusted advisor.

 

Qualifications:

· Risk Management or Regulatory experience – CCAR, Market Risk, Credit Risk, and Liquidity & Funding Risk in either 1st or 2nd line of defense.

· Broad and deep knowledge and experience of Market and/or Credit Risk Models, Capital and Treasury Models (Interest rate risk and/or liquidity models).

· Experience in CCAR Stress Testing models (Market, PPNR, Credit Losses, Counterparty Credit/CVA)Experience in and knowledge of US regulations.

· Quantitative Degree in Finance/Mathematics/Physics.

· Experience with audit best practices and methodologies, including credit and market risk modeling.

· Working knowledge of Internal Audit Services practices, policies, procedures and systems with Internal Audit experience in Banking or Capital Markets.

 

Benefits:

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

· A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation

· Leaders who support your development through coaching and managing opportunities 

· Work in a dynamic, collaborative, progressive, and high-performing team

· Opportunities to do challenging work

· Flexible work/life balance option

Click here to apply

Sr Analyst - Internal Audit - Non - Financial Services

Performs internal audits providing management with objective assessments, recommendations, and pertinent information concerning the adequacy and effectiveness of the internal control system. Independently performs financial, operational, and information system assessments and advises management on the need for corrective action.

Key Responsibilities:

  • Coordinates and assists with compliance activities related to Sarbanes-Oxley; specifically in the documentation and evaluation of internal controls in accordance with Section 404.

  • Conducts operational, financial, and information systems audits to review effectiveness of internal controls, efficiency of operations, and compliance with company policies and procedures.

  • Works closely with auditees to identify potential improvements to internal controls and operational processes.

  • Assists with implementation efforts related to internal control and operational process improvements accepted by auditees.

  • Documents audit procedures and observations through the preparation of detailed workpapers. Drafts the internal audit reports/memos.

  • Assists internal audit management with risk assessment activities, audit planning and developing audit objectives.

  • Participates in new systems development initiatives, serves as a business process consultant, and performs special project work.

  • Assists external auditors in the completion of the audit requirements.

  • Performs other duties and special projects as assigned.

  • Performs all of the above activities in a manner that reflects the highest professional standards and conduct, consistent with the "Standards for Professional Practice of Internal Auditing" as published by the Institute of Internal Auditors and Triton’s policies & procedures.

Qualifications:

2 - 5 years experience within:

  • Public Accounting - Auditing, Assurance or Accounting Information Technology; or

  • Financial Services Institution - Internal Audit or Accounting; SEC compliance experience; or

  • Fortune 500 - Internal Audit and/or Finance areas.

  • Strong knowledge and skills with auditing and evaluation of internal controls.

  • Proficiency with MS-Office, in particular with Excel, Word and Access.

  • B.S. in Accounting, Finance, Computer Science, Management Information Systems, or equivalent work experience. Masters or MBA is a plus.

  • Experience using internal controls frameworks, such as COSO, CoCo and/or COBiT.

  • CIA, CPA and/or CISA certification is highly desired.

    Click here to apply

Audit Director - Finance - Investment Banking

The role is responsible for a team of 10 finance audit specialists responsible for auditing corporate financial reporting, including reporting for the Institutional Clients Group, Global Consumer Bank and SOX. 

The team serves as subject matter experts for accounting policy, providing direct assistance and advice to IA’s Finance and Product audit teams on entity risk assessments, audit scoping, execution, issue leveling, and audit reporting related to US financial reporting.

Key Responsibilities:

Contributes to strategic direction of Internal Audit (IA) function in the establishment of risk based auditing and branch examinations, which include reporting methodologies, organizational design and effective positioning of the function to ensure provision of independent assurance.

  • Uses excellent communication, leadership and strong management skills to influence a wide range of internal audiences including respective product, function, or regional executive management partners and external audiences including regulators and external auditors. Frequently engages in both internal and external negotiations which will have a major impact on the function, and possibly on the organization as a whole.

  • Directs audit activities supporting a sub set of a product line, function, or legal entity at the global or regional level, in accordance with IA standards, policies, and local regulations. Responsible for providing valued and timely independent assurance on the design and operating effectiveness of a sub set of a product, function, or legal entity at a global or regional level.

  • Responsible for the delivery of high quality, value-added multiple concurrent audits on time and to specification. 

  • Ensures the delivery of audit reports and (where appropriate) branch examinations, that are complete, insightful, timely, error free and concise.

  • Ensures timely delivery of high-quality comprehensive regulatory and internal audit issue validation, and where determined appropriate issue validation on other remediation actions, including issues arising from the external auditors, consultants and other parties.

  • Contributes towards the delivery of high impact reports of IA's contributions to executive management, regulators, and boards' sub-committees, developing trend analyses and thematic reporting.

  • Manages multiple teams of professionals.  Recruits staff, develops talent, builds effective teams, and manages a budget. Identifies internal talent and fills key positions, attracts talent with required expertise to meet the risk profile of the business, builds deep bench strength and develops appropriate succession plans.

  • Possesses a broad and comprehensive understanding of multiple disciplines (Audit, Risk, Compliance, and Training) and of different Audit standards, policies and local regulations; applies a broad and comprehensive understanding of high risk areas including Consumer or Investment Banking, corporate functions, technology management; project/program management; or supplier management.

  • Delivers learning and development programs and is a recognized leader in training and developing others. 

  • Develops approaches to promote knowledge sharing and promulgate management best practices across Internal Audit

  • Delivers cost effective and efficient management of audit teams and audit engagements. 

  • Ensures IA meets/exceeds the requirements and expectations of regulators.

  • Works closely within IA and with line management and control functions to ensure efficient and effective provision of independent audit assurance.

  • Collaborates across businesses and functions to improve the identification, quantification, measurement, management, reporting and controls in governance, risk management and internal control environments.

  • Actively supports and drives the Internal Audit Transformation Program and IA’s and management’s efforts for a “Strong” internal audit function

  • Fully supports and endorses the Quality Assurance function of Internal Audit and promptly accepts and remediates deficiencies found by QA. 

Qualifications:

 BA/BS or equivalent. Related certifications (CPA, ACA, CFA, CIA, CISA or similar) are a plus.

  • Advanced level experience in a related role with extensive experience in business, functional and people management, with proven abilities in taking responsibility for executing concurrently on a portfolio of high quality deliverables according to strict timetables.

  • Specific subject matter expertise in audit. US financial reporting, consumer and investment banking industry issues, and strong knowledge of control frameworks, including manual and automated controls.

  • Demonstrated experience in managing teams and managing integrated internal audit and assurance delivery within a matrix reporting environment.

  •  A self-aware, self-confident individual who has well developed listening skills, and a strong ability to engage a group of accomplished business unit heads by providing proactive advice on a variety of audit matters while carefully balancing the independent requirements of the IA function.

    Click here to apply