The VP Senior Auditor position will be based in Jersey City, New Jersey with the CIO/Risk/Valuation & Finance team within the Corporate Risk Audit Team. The Corporate Risk Audit Team is primarily responsible for assessing the adequacy of the control environment across the firm’s risk organization. This is achieved through a comprehensive program of audit coverage that is executed by a global team of business and technology specialists.
The auditor will be assessing the control environment supporting the firm’s Credit Risk Management framework primarily focused on Wholesale credit activities and Country Risk. Given the strong interrelation of Credit Risk with other risk disciplines, the position also involves assessing aspects related to Market Risk, Model Risk and Operational Risk. As such the role involves a fluid interaction with Audit colleagues dedicated to the assessment Market, Model and Operational Risk controls as well as LOB auditors.
The role requires a mature and experienced professional who possesses outstanding leadership, strong relationship management capabilities, and verbal and written communication skills. The position requires knowledge of the Audit practice and key aspects of a sound control environment. Understanding of derivatives and traditional credit products and experience in the assessment of controls related to Stress Testing, Country Risk, CCAR/DFAST, Allowance for Loan Losses under CECL and IFRS9 methodologies and Basel III is a plus. The role requires an individual with Credit Risk Management experience who can actively partner with Risk Management and Technology teams, Audit colleagues, and Regulators. Proven experience mentoring junior team members and working in a strong team environment is highly valued.
As a member of the Credit and Country Risk Audit Team in New Jersey, you will be expected to contribute to the execution of Audit’s coverage program, which involves the assessment of design, effectiveness and sustainability of Credit and Country Risk Management controls. Other responsibilities include participating in the risk assessment of Process Audit Universe Items (PAUIs), Continuous Monitoring, Audit planning, assessing compliance with Professional Audit Practice guidance, and maintaining effective relationships with stakeholders and regulators throughout the year. Specifically;
- Lead audit activities including audit planning, audit testing, control evaluation, report drafting, workpaper documentation, follow-up and tracking of management’s corrective actions in response to findings, and validation of issue closure.
- Own and manage Process Audit Universe Items (PAUIs)
- Lead projects, post-mortem investigations and Issue/MRA validation activities.
- Partner with other groups within Audit (Commercial & Investment Bank, Asset Wealth Management, Commercial Bank, Consumer Bank, and Technology, etc.) to ensure the delivery of a seamless program of audit coverage across the Firm.
- Disseminate best practices and lessons learned to colleagues and clients.
- Identify and follow up on specific audit issues and ensure appropriate involvement with significant business development efforts or projects.
- Work with global line-of-business auditors in the early identification of emerging control issues and report them to business and audit management.
- Build effective contacts and relationships with client management and colleagues through strong collaboration and innovating thinking.
- Stay up to date on evolving regulatory, industry, and market events impacting the Firm’s risk organization.
- Establish and support a culture that encourages integrity, respect, excellence, and advancement.
- Bachelor’s degree in Finance, Economics, Accounting or a related or quantitative discipline.
- At least 5-7 years of experience in a Financial Services, consulting, or public accounting firm, with an appropriate level of exposure to and involvement with Risk Management particularly Credit Risk. Market Risk and Model Risk considered a plus.
- Ability to run audits, manage projects, and participate in audit assignments in a team environment.
- Excellent communication and interpersonal skills with ability to present complex and sensitive issues to senior management.
- Experience in risk analysis, report preparation, risk assessment, issue/impact analysis, and executive report preparation a plus.
- Enthusiastic, self-motivated, passionate about Risk Management and effective under pressure.
- Works well individually and in teams, shares information, supports colleagues, and encourages participation.