Head of Audit - US, Europe & Americas
15 hours ago
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. • The Head of Audit, US & EA at GIA plays a pivotal role in the third line of defence, ensuring independent assurance over management's controls across business activities. The role is responsible for leading the GIA Strategy, the role emphasizes customer experience, effective group change, and identifying efficiencies., • The Head of Audit acts as a team manager, overseeing the delivery of high-quality audits, ensuring adherence to professional standards, and promoting valued behaviours within the team. Engaging with various committees, the role involves representing GIA at formal meetings, providing challenge, and delivering data-driven insights., • Additionally, the Head of Audit contributes to risk assessment, manages audit delivery, and ensures effective stakeholder management, thereby safeguarding the assets, reputation, and sustainability of the Group. The role also entails effective budget management, risk assessment, stakeholder engagement, and adherence to governance and regulatory standards. The incumbent leads by example, fostering a culture of ethics, compliance, and continuous improvement within the GIA function. GIA represents the third line of defence, whose primary role is to support the Board and Executive Management in protecting the assets, reputation and sustainability of the Group. GIA provides independent assurance on management's awareness of risks and the effective execution of controls within business activities (the first line) and of the relevance, effectiveness and monitoring of risk and related controls maintained by the Risk Framework Owners and Policy Owners (the second line). As defined in the Audit Charter, all staff in GIA must exhibit the highest level of professional objectivity at work. They must make balanced assessments of all 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, the 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 to protect the assets, reputation and sustainability of the Group, the Head of Audit is expected: • To lead through example, build the appropriate culture and values, develop valued, engaged and motivated teams, grow our people, strengthen inclusivity, team engagement, wellbeing and psychological safety., • Be a leader who helps grow the Bank, harnessing a strategic mindset and the ability to navigate complex situations and ambiguity o Contribute to the broader GIA strategy and to key deliverables as required o Be a champion in managing change as Bank and GIA evolve with time o Be an advocate of strategy, align and embed it in audit delivery • To team manage audit delivery by taking responsibility for high-quality audits, providing insights and impactful commentary on the management of risks. Responsible, where serving as Team Manager, for the finalisation of audit issues and the audit report., • To role model the valued behaviours and develop an environment in which positive behaviours are celebrated and poor culture is challenged., • To oversee that work carried out by the team is executed in an efficient and effective manner, within the given budget and timelines, and in line with GIA methodology standards., • To clearly identify the risks and impact of issues during issue writing, agreeing these issues with management and obtaining quality management action plans to mitigate the risks raised., • To lead continuous monitoring of assigned countries / portfolio areas, and to build and maintain engagement with stakeholders., • To take responsibility for the implementation and support of department-wide exercises such as annual audit planning, risk assessment and training., • To support GIA audit teams by providing product / country knowledge and expertise for their audits relating to the individual's area of responsibility., • To attend and represent GIA at formal committees and Group meetings, provide meaningful challenge and data-driven insights, as required, e.g., Governance Committees and Country Non-Financial Risk Committees; and, • To serve as the GIA portfolio / country subject matter expert to proactively engage with peers and stakeholders to maintain, build and share knowledge., • Issue validation: All audit issue action plans agreed during audit fieldwork should be tracked through to completion in accordance with methodology requirements, • To lead on the delivery of the GIA Strategy for the US, Europe and Americas - focusing on: o Customer experience o Effective Group change o Identifying Group efficiencies and avoiding disruption from audit • The Head of Audit, US & EA at GIA has responsibility for management of the Group's Internal Audit function ("GIA") in the country, in accordance with the Group's Audit Charter, as approved by the Audit Committee, and for reporting directly to the Chief Auditor, International Markets. The role also has key interaction with Americas CEO, US Management Team and other members of Audit Executive Team, including the Chief Auditor, CIB and Chief Auditor, Functions, as well as the Group Chief Auditor., • The role covers all legal entities in the Americas, including the SCB New York Branch, Standard Chartered Securities New York, and Standard Chartered Representative offices in the US (Houston, Washington DC, Newark), Brazil, Argentina and Colombia. It also encompasses the Internal Audit regulatory requirements of the Federal Reserve Bank of New York ("FRBNY"), New York Department of Financial Services ("NYDFS") and the US Financial Industry Regulatory Authority., • The Americas is a highly regulated region and one of SCBs most complex Tier 1 markets. The US operations of SCB represent a critical source of client revenues for Europe and Americas region and global CIB, especially through the introduction of network business for corporates and financial institutions originated in the US. Primary industries served include banks and broker dealers, oil and gas, TMT, insurance and investors and commodities. Regulatory reforms such as Dodd-Frank, Volcker Rule, FATCA have imposed extraterritorial requirements on SCB globally, with effective oversight and controls required from the US. In addition, it is critically important to maintain robust worldwide processes and controls for financial crime to enable continued good standing with US regulators. SCB is subject to several annual regulatory examinations from NYDFS and FRBNY, with a key component being the coverage and quality of internal audit work, staff, methodology and leadership. The regulators also mandate extensive minimum annual audit coverage. Strategy • Contribute to the GIA risk assessment and design the subsequent risk-based audit plan for the assigned portfolio of US, Europe and Americas, • Audits assigned to the individual 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 that are required to be covered by GIA;, • Consider whether the assigned audit plan remains relevant throughout the year as the risk profile of the business and entity changes. Propose changes as appropriate; and, • Ensure that audit team operates in line with the Audit Charter during engagements, remains independent from management and free from interference. Audit Delivery • To act as Team Manager, as necessary, on assigned audit work involving US, Europe and Americas across the Group. This will entail managing the Team Leader and team members working on the audit to deliver the Audit Planning Memo, Process Risks Controls Matrix, agree issues and action plans with management and submission of draft report to yourself for review;, • Provide clear guidance, detailed review and supervision of the audit team's work so that audit deliverables meet quality standards and timelines in line with the GIA methodology;, • Provide guidance on business and 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 or country area of responsibility. This will include working with the audit team to produce outputs of high quality 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 methodology;, • Demonstrate sound knowledge of both business/technical areas and expert knowledge in the audit process, including the GIA system, so that audit work is carried out to a high standard that meets all methodology and GIA system requirements;, • Take the lead in presenting the draft report in the GIA report review process (to the tollgate or report approver); and, • Monitor the implementation/delivery of the agreed issues/audit 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. Business (Budget) • Ensure the team effectively manages the cost of assigned audits within the allocated budget for audit engagements; and effectively manage the overall GIA budget for US, Europe and Americas., • Identify and implement opportunities for cost savings and optimal productivity of assigned audit engagements. Stakeholder Management • Establish and maintain effective working relationships with the management of business units which fall under portfolio responsibility., • Effectively manage external stakeholders such as regulators and reviewers. Processes • Contribute to the development of the overall GIA Audit Plan through Risk Assessment and Top-Down approach based on the inherent risks and knowledge of the risk profiles., • Oversee the development, implementation and execution of the agreed audit plan across US, Europe and Americas. As well as facilitate collaboration with the functional audit teams to achieve a holistic approach to the assessment of risks and development of audit plan / strategy. Embed a strong understanding and discipline of implementation of GIA methodology in the team., • Drive cost efficiencies where possible without compromising on the effectiveness of audits. People & Talent • Build a collaborative and inclusive culture that creates psychological safety, treating people with courtesy, respect and promotes wellbeing., • Develop and manage audit talent by guiding the audit team's development & career growth - Build the right skills, capacity and specialism in the right teams/locations., • Deliver a robust succession plan., • Empower the team to innovate and make creative decisions to meet business needs; recognise staff that innovate or go the extra mile., • Contribute to building a high performing function through frequent check-ins and coaching evidenced by use of Feedback mechanisms., • Influence change within the department by highlighting potential enhancements., • Identify and successfully complete key internal training for self-development; proactively seek an external lens to support delivery of meaningful audit work. Risk Management • Oversee the team, which 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 processes maintained by the Risk Control Functions (the second line)., • Update the assigned Continuous Risk Assessment on a regular basis to identify changes in risk profiles and document these in a timely manner, proposing changes to the assigned audit plan, as appropriate;, • Ensure 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 meetings relevant to assigned country / product area (e.g., Management Groups and Committees) provide insights and meaningful challenge, ensuring risks are appropriately identified, discussed and timely remediation plans are put in place;, • Adopt an anticipatory approach to risk assessment through stakeholder communication and monitoring of external environment to improve audit planning., • Monitor the implementation / delivery of the agreed audit plan for the country as assigned, understanding the key audit issues arising and escalating any significant audit findings that remain unresolved., • Provide effective challenge to ensure that risks are appropriately identified and that remediation plans are put in place., • Review MI and reports regularly to keep up-to-date with key trends within the business and audit deliverables. Governance • Manage the relevant Product/Country stakeholders, as appropriate, and establish good working relationships to help the businesses improve the control environment and keep updated with changes in the business impacting their risk profile;, • Propose changes to audit plans, so the audit plan remains relevant;, • Lead by example on how to communicate audit-related matters and resolve any conflict between auditors and auditees during the course of an audit. Use networks and relationships to build engagement and achieve results;, • Escalate delays in the execution of audit work, both to auditee management and GIA management; role model this behaviour to Team Leaders;, • Be able to clearly explain issues identified along with the risks and root causes to GIA and business management, using language designed to be understood by non-experts;, • Ensure that the team remains independent from management and free from interference;, • Ensure that the Audit Plan includes work which will provide independent assurance of the governance processes within US, Europe and Americas; and, • Provide oversight of the US, Europe and Americas audit, ensuring compliance with the highest standards of regulatory conduct and compliance practices as defined by internal and external requirements. Regulatory & Business Conduct • Display exemplary conduct and live by the Group's Values and Code of Conduct., • Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct., • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters. Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association (or equivalent)., • Support GIA to achieve the outcomes set out in the Bank's Conduct Principles., • Lead the GIA US, Europe and Americas, to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment. Key stakeholders • Audit Executive Team, GIA Leadership teams., • Audit Committee and Local Audit Committee (where applicable) Other Responsibilities • Embed Here for good and Group's brand and values in Group Internal Audit., • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures., • Manage Conduct, • Manage Risk, • GIA Methodology and Systems, • Stakeholder Engagement, • Manage audit activities effectively and efficiently throughout the audit lifecycle, including Continuous Monitoring, Risk Assessment, Audit Report Writing, • In-depth understanding of risk management and associated control requirements;, • Strong communicator, both written and verbal, with ability to clearly explain controls to be tested and risks identified to audit and business management., • Confident and courageous to raise and escalate ideas or concerns in a professional and timely manner., • Proactive, self-directed and able to work with minimum supervision., • Ability to work within a global team., • An experienced career auditor (internal and external) or a business person who has a breadth of experience in either audit and/or governance., • Demonstrable experience of Audit requirements in the US, Europe and Americas markets, • Has worked directly with regulators, preferably in the US, Europe and Americas markets, • 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 financial 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 the regulatory landscape and working culture across a number of geographies, • Self-directed and able to work with minimal supervision., • Demonstrate understanding of and commitment to the Group's core values., • Professional audit certification preferred, • Ability to perform the role of "Change Leader", • Ability to travel internationally from time to time to support GIA activities and delivery across the group Group Mandatory e-Learnings • Group Anti-Money Laundering, Counter Terrorist Financing and Sanctions, • Risk Management Framework (RMF) Awareness, • Global Privacy Awareness, • Group Code of Conduct, • Fighting Bribery & Corruption: A Practical Guide, • Information Security Awareness For Everyone (iSAFE) We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us. Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion. Together we: • Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do, • Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well, • Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing. • Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations., • Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum., • Flexible working options based around home and office locations, with flexible working patterns., • Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits, • A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning., • Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential. Expected annual base pay range for the role is 250,000 USD to 450,000 USD. The final offer will be determined on an individualised basis using a number of variables, including but not limited to skill set, depth of experience and education, internal relativity, and specific work location. At Standard Chartered Bank, Base pay is only part of the total compensation package. Discretionary variable pay and a range of attractive bank sponsored benefit programs are available and designed to foster employee overall health and well-being including, but not limited to, a best in class 401k plan with up to 8% employer match, robust medical plan coverage with employer funded Health Savings Accounts, inclusive family building benefits, and flexible/hybrid working arrangements for many of our positions subject to role specific considerations Visit our careers website _ Recruitment assessments - Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process. Visit our careers website _
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