Senior Audit Manager - BFSI

RESPONSIBILITIES:

- Working as a team leader on audits primarily relating to Market and Traded Credit Risk (MTCR). This involves supporting the team manager by executing audit planning, fieldwork, reporting and issue tracking for work assigned in an efficient and effective manner within GIA methodology.

- Supporting the HOA in carrying out Continuous Monitoring and Relationship Management for the Credit Risk function.

- Group-wide exposure at default (EAD) to traded credit risk (CCR) totals $45bn, with equivalent CCR RWA of $11.5bn. In addition, RWA from Group-wide Market Risk exposure is $23bn. The portfolio is deeply complex, requires technical expertise and engages with senior stakeholders across risk and the business.

- Given the location of Market and Traded Credit Risk Control Owners, the majority of the work will be Singapore. Other senior MTCR stakeholders are based in London.

- The role will report to the Head of Audit, Group Risk.

Strategy

- Support the Head of Audit (HOA), where required in the development of the GIA risk assessment and development of an appropriate plan for Market and Traded Credit Risk Audits.

- Support the HOA, to ensure the scoping of the work assigned addresses the key risks identified in the risk assessments of areas above during the audit planning process, and meets the relevant regulatory requirements and expectations that are required to be covered by GIA.

- Propose changes to HOA, by keeping track of the assigned audit plan to ensure it remains relevant throughout the year as the risk profile of the relevant areas changes.

- Ensure that GIA operates in line with the Audit Charter, remains independent from management and free from interference.

Business

- Strong awareness and in-depth understanding of the key risks in pre-implementation and Business As Usual (BAU) controls and processes associated with Market and Traded Credit Risk.

- Strong awareness and in-depth understanding of the key risks involved in the auditing of Market and Traded Credit

- Have awareness and understanding of other key risks such as Credit, Operational and Model risk

Processes

- Participate as the team member or leader for assigned audits.

- Support the team manager/team leader by executing audit planning, fieldwork, reporting and issue tracking for work assigned in an efficient and effective manner such that audit work meets the given budget, quality standards and timelines required by the GIA methodology.

- Evaluate quantitative and qualitative data to diagnose underlying issues, patterns and root causes, as a part of regular audits.

- Provide clear guidance, detailed review and supervision of the audit team's work as well as raising team members- awareness and understanding of the GIA methodology to ensure that audit deliverables meet quality standards and timelines.

- Monitor/track assigned audit issues and action plans, and report overdue items to the appropriate responsible person within GIA for escalation to the appropriate business manager and/or governance committee for resolution.

- Apply a high level of attention to detail to ensure audit reports are accurate, clear and articulate key risks, root causes and impact.

- Ensure timely escalation of delays in conforming to methodology standards, both to auditee management and GIA management.

- Provide technical knowledge and guidance on Risk audits to team leaders, team members, and other interested parties to enable them to effectively deliver their assigned contributions for an audit and to increase knowledge awareness.

People and Talent

GIA-specific responsibilities and accountabilities:

- Support the HOA to engage effectively with team members by working closely, sharing knowledge and best practices, and supporting other team members to achieve the audit objectives.

- Demonstrate strong leadership and ability to motivate and guide audit team leaders and members.

- Influence change within the business.

- Ensure correct capacity planning for assigned audits to ensure optimal productivity of the team.

- Provide written performance feedback to team members at the end of an audit in conjunction with the team manager.

- Facilitate the development of direct reports and audit team members by providing on the job training and recommending formal training to support GIA activities.

- Support the HOA to proactively spot talent for GIA.

Risk Management

- Ability to communicate with stakeholders on an ongoing basis to identify the risks, and update the HOA to assist in the Annual Risk assessment ensuring the identified risk have been integrated into the Audit plan.

- Responsible for identifying, assessing, monitoring, controlling and mitigating credit risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual play in managing them.

- Support the HOA to update risk assessments on a regular basis to ensure that changes in risk profiles are identified in a timely manner, proposing changes to the assigned audit plan to the HOA, as appropriate.

- Ensure early identification and escalation of risks, issues, trends, and developments for internal and external reporting. Be prepared to raise issues/concerns outside the normal audit process.

- Engage with the respective HOA and business stakeholders on the status of the rollout and ongoing effectiveness of the Operational Risk Framework.

- Adopt an anticipatory approach to risk assessment through stakeholder engagement and monitoring of the external environment to improve audit planning.

- At the request of the HOA, attend relevant Committee meetings to keep up-to-date on key business matters and provide the right challenge to ensure risks are appropriately identified, discussed and timely remediation plans are put in place.

- Review Risk related MI and reports regularly to keep up-to-date with key trends within the business.

- Engage the GIA portfolio champions to update the permanent audit file within four weeks of the end of an audit.

Stakeholder Management & Communications

- Establish and maintain the effective working relationships with the management of Risk function to keep abreast of business developments and to maintain the regular dialogue with stakeholders on areas of concern and to help them improve their overall control environment.

- Communicate with internal stakeholders in Market and Traded Credit Risk and with external parties, and update the assigned Product/Country risk assessments on a regular basis, where appropriate, to ensure that changes in risk profiles are identified in a timely manner. Propose changes to the audit plan to the HOA, as appropriate, to ensure it 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.

- Conduct/attend regular meetings with stakeholders.

- Provide stakeholder (approved by the HOA/line manager) with a single point of contact for the assigned portfolio. Provide regular value-added reports and updates, as appropriate, on risk trends, emerging risks and GIA's opinion on the state of the control environment.

- Ensure communication of findings/issues/root causes to all relevant stakeholders and monitor/escalate any overdue action plans to the appropriate business manager and/or governance committee for resolution.

- Provide input into other GIA audit teams for the assigned portfolio and review audits not directly managed on the scope, risks, findings and the final report for areas that touch upon Market and Traded Credit Risk.

- Continuously educate the business and stakeholders on the audit process to enable auditees to have a better understanding of the role and operation of GIA, with the aim of further building relationships and improving audit efficiency.

- Develop an external network through participation in external and professional forums.

Governance

- Responsible for assessing the effectiveness of the Group's arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas

- Awareness and understanding of the regulatory framework, in which the Group operates, and the regulatory requirements and expectations relevant to the role.

- Responsible for delivering - effective governance- ; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner.

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.

- Lead the Risk team to achieve the outcomes set out in the Bank's Conduct Principles: The Right Environment

- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders

- Designated business stakeholders in the Market and Traded Credit Risk space, typically related to individual audit assignments and continuous monitoring.

- GIA stakeholders - fellow Team Leaders, Team Members and Managers, Product, Functional, Country and Regional Heads of Audit.

Other Responsibilities

- Embed Here for good and Group's brand and values in Group Internal Audit

- Perform other responsibilities assigned to Group, Country, Business or Functional policies and procedures.

QUALIFICATIONS - training, licenses, memberships, and certifications

- Experienced career internal (or external) auditor, or experienced former Market and Traded Credit risk practitioner with deep subject matter expertise.

- Auditor Accounting professional qualifications are not required for applicants who are Market or Traded Credit Risk professionals but actively encouraged

- University degree

- Knowledge of Banking controls and processes

- Advanced understanding of Market and Traded credit Risk Management concepts

- Good interpersonal and communication skills

- Familiarity with technology application controls relevant to Market and Traded Credit Risk

- Advanced understanding of Market and Traded credit risk management practices and controls

- Advanced understanding of quantitative/statistical approaches used in Market and Traded Credit risk measurement

- Strong communicator, both written and verbal, with an ability to influence and an ability to gain the respect of senior management, regional stakeholders, peers and their teams

- Up to date with key regulation / developments in Market and Traded Credit Risk Management

- Demonstrate understanding of and commitment to the Group's core values