Executive Director, Audit - CIB, Americas (New York)

This job is with Standard Chartered Bank, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Group Internal Audit (GIA) represents the third line of defence and provides independent assurance of the effectiveness of management's control of business activities (the first line) and of the control processes maintained by the Risk Framework Owners and Policy Owners (the second line). GIA works with the Group's other control functions, such as Finance, Risk and Compliance, but does not place unqualified reliance on their work. GIA is an independent function whose primary role is to help the Board and Executive Management to protect the assets, reputation and sustainability of the Group.

As defined in the Audit Charter, all staff in GIA must exhibit the highest level of professional objectivity in gathering, evaluating and communicating information about the activity or process being examined. They must make a balanced assessment of all the relevant circumstances and not be unduly influenced by their own interests or by others in forming judgments. GIA will adhere to the Definition of Internal Auditing, the Core Principles for the Professional Practice of Internal Auditing, Code of Ethics and the Standards for the Professional Practice of Internal Auditing that are published by the IIA. It is expected that all members of GIA strive to operate as role models for the Group's valued behaviours. GIA methodology has defined Habits of a Human Auditor which are aligned to the Group's valued behaviours and communicated across the function.
In addition to the responsibilities defined in the Audit Charter, the Head of Audit is expected to:

• Lead a team of audit professionals in providing assurance over Standard Chartered Bank's Corporate and Investment Banking (CIB) operations in the Americas.
• Be a member of the GIA Americas Leadership Team, developing and implementing team and Group-wide initiatives that improve auditor efficiency and effectiveness.
• Manage regulatory engagements, where necessary, tracking deliverables and providing timely and accurate responses to regulatory inquiries.
• Act as Team Manager, as necessary, and take responsibility for overseeing the delivery of high quality audits, the performance of which cause minimal disruption to the business. Responsible, where serving as Team Manager, for the finalisation of audit issues and the audit report.
• Ensure that assigned audit work is executed in an efficient and effective manner, within the given budget and timelines, and in line with GIA methodology standards.

Key Responsibilities

• Clearly explain the risks and impact of issues raised during testing to GIA and business management and obtain quality management action plans to mitigate the risks identified.
• Role model the valued behaviours and develop and environment in which positive behaviours are celebrate and poor culture challenged.
• Lead continuous monitoring of assigned country/portfolio areas, recording the outcome of the activities on GIA's risk assessment of the business and the current audit plan. Raise issues and observations outside of formal audit work that arise as part of the continuous monitoring program.
• Take responsibility for the implementation and support of department wide exercises such as annual planning, risk assessment and training.
• Actively manage relationships with senior auditee management and stakeholders.
• Support GIA audit teams by providing product/country knowledge and expertise for their audits relating to the individual's area of expertise.
• Attend and present at formal committees and Group meetings on behalf of GIA, as required, e.g. Governance Committees, Country Non Financial Risk Committees, CIB Risk Committees.
• Oversee the validation of audit and regulatory issues: Ensure that all audit issue action plans agreed during audit fieldwork are tracked through to completion in accordance with methodology requirements.

Strategy
• Contribute to the GIA risk assessment and development of an appropriate audit plan for assigned portfolio.
• Audits in the role holder's portfolio in the GIA audit plan should address the key risks identified in the detailed risk assessment and in the audit planning process, and meet relevant regulatory requirements and expectations.
• Continually assess that the assigned audit plan remains relevant through the year as the risk profile of the business evolves, proposing changes as appropriate.
• Ensure that their team carry out their roles in line with the Audit Charter and remain independent from management and free from interference.

Business
• Effectively manage the cost of assigned audits within the allocated budget for audit engagements.
• Identify and implement opportunities for costs savings and optimal productivity of assigned audit engagements.

Day-to-Day Tasks

Processes
• Act as Team Manager on assigned audit work. This will entail managing the Team Leader and junior colleagues working on the audit to deliver the Audit Planning Memo and Controls documents, agree issues and actions plans with management and submission of the draft report to the Team Manager for review.
• Provide clear guidance, detailed review and supervision of the team's work so that audit deliverables meet quality standards and timelines in line with the GIA methodology.
• Provide guidance on business/audit technical knowledge and management skills to Team Leaders and Team Members to enable them to effectively deliver their assigned contributions for an audit.
• Provide technical input and challenge on audit work being undertaken within the scope of assigned product/country area of responsibility. This will include working with the audit team to produce high quality outputs which address the areas of greatest risk.
• Support adherence to the GIA methodology in all areas of the audit engagement, as well as raising awareness and understanding of the GIA methodology.
• Demonstrate sound knowledge of both business/technical areas and expert knowledge in the audit process.
• Take the lead in presenting the draft report in the GIA report review process (to the tollgate or report reviewer)
• Monitor the implementation/delivery of the agreed issues and action plans for the audits assigned, understanding the key risks arising, provide advice on resolution of issues to auditees/action plan owners and escalate audit findings that remain unresolved.

Additional Responsibilities

People & Talent
• Demonstrate strong leadership and ability to motivate and guide audit Team Leaders and Team Members.
• Share knowledge to increase specialism within the function.
• Influence change within the department by highlighting potential enhancements.
• Identify growth areas at the start of each audit, and discuss with the Audit Lead on how best to work on them during the work.
• Provide performance feedback, as appropriate, to Team Leaders at the end of an audit, Review and agree the feedback provided for Team Members with the Team Leader.
• Identify and successfully complete key internal training for self-development.
• Facilitate the development of audit team members by providing on the job training and recommending formal training to support GIA activities.
• Proactively spot talent for GIA.

Risk Management
• Update the Continuous Risk Assessment on a regular basis to identify changes in risk profiles and document, proposing changes to the assigned audit plan as appropriate.
• Promote early identification and escalation of risks, issues, trends and developments to relevant stakeholders. Be prepared to raise issues/concerns outside the normal audit process.
• Attend relevant meetings (e.g. PSCs, Management Groups and Committees), to keep up to date on key business matters and provide the right challenge to ensure risks are appropriately identified, discussed and timely remediation plans are put in place.
• Adopt an anticipatory approach to risk assessment through stakeholder engagement and monitoring of the external environment to improve audit planning.
• Review MI and reports regularly to keep up to date with key trends within the business.

Skills and Experience we look for

• An experienced career auditor (internal or external) or a business person with significant experience in either audit and/or risk management.
• Demonstrable experience in Corporate and Investment Banking, with knowledge of correspondent banking, trade finance and financial markets products.
• Familiarity with US banking regulations, preferably with experience working with regulatory examiners.
• Strong leadership qualities, interpersonal and people management skills
• Strong communicator, both written and verbal, with ability to influence and to gain the respect of senior management, stakeholders, peers and their teams.
• Strong sense of integrity and independence with an ability to challenge.
• Confident and courageous to raise / escalate issues in a pro-active, professional and timely manner.
• Highly credible with their counterparts in the business.
• Understanding of regulatory landscape and working culture in the US
• Self directed and able to work with minimal supervision.
• Demonstrate understanding of and commitment to the Group's core values.
• Professional certification preferred (i.e. CIA, CPA, CAMS, CFE etc.]]> <