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- Independently develops and implements audit coverage for operational and regulatory audits - 70 %
- The incumbent will create operational and regulatory audit programs for various Bank business units- personal and commercial lending, Trust and Digital Banking.
- Responsible for executing the end-to-end audit engagement process: commences with the development of an audit plan, followed by identification of risks associated with the auditable entity documentation of identified controls, testing of controls, development of conclusions based on audit testing.
- Draft audit reports at the conclusion of each audit for submission to the Chief Auditor
- Maintain ongoing awareness of applicable regulatory requirements, and the Bank's strategic initiatives and industry developments in order to ensure audit work is relevant and value-added. This may include monitoring or auditing large-scale Bank projects.
- Follow-up and report on adequacy of management actions to resolve audit findings and report progress to the Chief Auditor on an ongoing basis.
- Risk Assessment -15%
- Maintain up-to-date knowledge of regulatory expectations and developments related to the Bank's business lines. Incorporate any new developments into audit work accordingly.
- Develop a Risk and Control assessment for each individual audit engagement to guide the development of each audit program.
- The position will be required to take into consideration the size and complexity of the Bank when conducting risk assessments and in developing audit observations as a result of audit testing.
- Effectively communicates risks to Senior Management (both Internal Audit and Business Unit Management as applicable).
- Relationship Management/Communication - 15%
- Maintain positive working relationships with Senior Management of business and control functions to ensure effective communication flow throughout the audit engagement process; maintain awareness of Senior Management's concerns and any emerging risks.
- Able to influence senior management with respect to acceptance of key findings and/recommendations.
- Keep the Chief Auditor informed of the status of key risks or findings identified during the audit.
- Commit to ongoing professional development by completing 40 training hours per year.
- Share knowledge of areas of expertise with other members of the Internal Audit team in order to provide cross-training.
- Post-secondary degree. An Internal Audit designation is an asset.
- 10+ years' proven experience in a financial institution Internal audit or Risk Management role (senior manager or above).
- Strong knowledge of operations related to Lending and Deposit Taking (including Digital Banking Deposits)
- Strong knowledge of applicable regulatory requirements; including AML/ATF, Privacy and Financial Consumer Agency of Canada.
- Knowledge of data control requirements related to the Basel Advanced Internal Ratings Based Approach (AIRB) is an asset.
- Experience auditing project management controls.
- Proven excellent written and verbal communication skills, ability to communicate with various staff levels across the organization.
- Ability to influence and impact Senior Management with respect to accepting/implementing recommendations related to identified control issues.
- Excellent effective organizational, time management and project management abilities; including the ability to manage multiple priorities (and potentially other staff resources) within deadlines.
- Ability to work independently and perform under pressure and within tight time constraints.
- Continues to develop/maintain broad knowledge and awareness of the financial industry, risk management practices and regulatory and/or policy changes.
Associate Director Internal Audit - Toronto, Canada - Equitable Bank
Description
The Core Responsibilities of the Role:
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