International Bank is seeking a Chief Internal Audit Officer who will be assessing the adequacy of internal controls for each of the auditable functions, testing for compliance to and the adequacy of the Branch’s policies and procedures. In addition, verify the existence and safeguard of assets, the proprietary and accuracy of income and expenses, and the reliability and integrity of accounting and reporting systems, particularly for risk management systems. A solid understanding of laws and regulations relevant to the Bank’s business activities. Where necessary, recommend corrective action under the ‘Best Practices’ approach. Lastly, must be aware of and follow the ‘Standards of Professional Practice of Internal Auditing’ produced by the Institute of Internal Auditors (IlA) and the Internal Audit Division (IAD)’s ‘Overseas Internal Audit Policy Manual’.
- Establish annual audit schedule for all areas of the Branch based upon the Bank’s accepted Risk Assessment
- Establish and/or revise audit procedures for each
- Direct and/or participate in the functional audits to assess the adequacy of the internal control
- Examine and validate the assets, liabilities, income, expenses and related records of the Branch utilizing generally accepted auditing standards (IIA).
- Prepare audit reports assessing the internal control environment based upon the risk criteria approved by IAD. Recommend corrective action for noted weaknesses and discuss audit results with business groups and senior management.
- Direct and/or participate in a detailed IT audit in coordination with the co-sourced audit partner, if
- Oversee and coordinate Branch audit coverage with the external
- Prepare and submit monthly the Issues Tracking Report to IAD and the General Manager of the
- Assist management in maximizing efficiency and reducing costs through performing functional audits and participation in committee
- Actively promote integrated auditing concepts and use of technology and analytics in all aspects of the audit plan.
- Manage and coordinate any audit co-sourcing projects with the external firm ensuring compliance with IAD policies and
- Provide IAD and Branch senior management with status reports of Audit Plan and issues affecting the internal audit
- Keep up-to-date with developments in the banking and auditing communities by attending seminars/conferences with relevance to the Bank’s business activities.
- Perform special project assignments at the request of Branch senior management or
- Minimum 10 years’ experience in a lead auditing capacity within the financial services industry, preferably within an international banking environment
- Bachelor’s degree in Accounting or Finance, Master’s degree
- Strong written, interpersonal and communication skills to cultivate a rapport with the NYSBD and FRB examiners
- An affiliation with a recognized audit organization and formal audit training
- In-depth knowledge of state banking laws and FRB
- Excellent comprehension of relevant aspects of international banking industry, including Treasury, Corporate Finance, Market and Credit Risk Management, Funds Transfer, Accounting, Regulatory Compliance, Information Technology; Information-Security, and all operations supporting the business
- Strong knowledge of auditing principles /standards i.e., IIA).
- Excellent PC skills, particularly Microsoft Office products (Word, Excel, and PowerPoint) and Lot
- Must be adaptable to changing business environment from traditional international banking to the direction the Branch may take. Staying abreast of development both within the Branch and in the financial service community.