Internal Audit Department - Risk & Operations Audit AVP

Bank of China Limited, New York Branch•New York, NY

2d•$65,000 - $150,000

About The Position

The Risk & Operations Audit AVP supports audit execution and independently leads audits of Bank of China New York’s frontline business activities, risk management, and management functions. Business coverage includes retail banking, commercial and corporate lending, trade finance, treasury, payments, correspondent banking, commodities, and capital markets. Risk coverage includes market, credit, corporate compliance, liquidity, operational, interest rate, reputational, and strategic risks, with a peer link to BSA/AML/OFAC compliance. The role executes and supervises audit coverage strategies, contributes to US-wide audit risk assessments, designs and implements control testing, reviews audit work papers, and ensures audit reports and feedback are complete, insightful, and timely. It also evaluates management action plans, tracks and validates issues, identifies emerging issues with stakeholders, designs continuous monitoring, improves audit automation and testing tools, develops auditor capabilities, and supports regulatory management and external auditor requirements.

Requirements

Bachelor’s degree in Business, Finance, Accounting, or a related area.
At least 4 years of work experience in a control, risk, or audit role, including risk management at a large banking organization and/or a Big 4 accounting or consulting firm.
Good understanding of frontline business related to corporate, commercial, and retail banking.
Understanding of risk management, including market, credit, and operational risks from a control and mitigation perspective.
Knowledge of management functions such as Finance, HR, and Legal.
Some leadership experience applying or evaluating the efficacy of control frameworks, including US bank regulatory standards, OCC heightened expectations, and Federal Reserve enhanced prudential standards.
Capability to oversee and execute multiple deliverables, preferably in a highly matrixed structure where planning, management, and strong interpersonal skills are critical.
Familiarity with risk applications and metrics for retail and commercial banking.
Experience using computer-assisted auditing tools or performing computer modeling to evaluate assertions.
Capability and willingness to develop staff on technical and soft skills.
Strong communication and interpersonal skills, including the ability to present complex issues and concepts to management.
Ability to build rapport with internal stakeholders.
Experience ensuring documentary sufficiency of analytical procedures to support audit standards and bank regulatory expectations.

Nice To Haves

Master’s degree.
Recognized accounting, auditing, or information systems certification, such as CPA, CIA, FRM, or CFA, or equivalent.

Responsibilities

Execute and supervise audit coverage strategies for business activities, management functions, and attendant risks.
Contribute to US-wide audit risk assessments for business activities and management functions.
Design and ensure implementation of control testing for business activities and management functions.
Execute assigned audit programs and review auditor work papers.
Ensure audit reports and Internal Audit feedback are complete, insightful, and timely.
Evaluate management action plans to ensure they adequately address audit issues.
Direct and/or perform issue tracking and risk-based issue validation.
Coordinate with key stakeholders to identify emerging issues.
Design and ensure implementation of continuous monitoring of business activities, management functions, and attendant risks.
Recommend improvements in automation for departmental performance.
Partner with data analytics to design and apply reusable tools to automate testing and sampling.
Provide feedback on auditor professional development plans.
Serve as a key department resource on lines of business and audit procedures for testing risks.
Assist VP Senior Auditors with regulatory management and external auditor requirements.
Support other departmental initiatives.