Internal Audit Role - International Bank (6-10 yrs)

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).