Vice President, Lead Auditor - Regulatory Compliance

Summary of the position

The Lead Auditor conducts audit assignments primarily in 2nd line corporate regulatory compliance from planning to issuance of the final report. This includes an assessment of the audited activity, the performance of tests, analysis and controls and the issuance of recommendations. He/she is responsible for the timeliness and comprehensiveness of the audit deliverables under the supervision of the Local Head of Audit or an Audit Supervisor. He/She is accountable for maintaining open communication with stakeholders, and drafting the management debriefing presentation and final report. He/she usually leads a team of several auditors. In most audits he/she also executes control sections of the audit.

He/she generally, but not exclusively, leads audit assignments that have a focus corporate compliance and regulatory requirements. He/she provides support to other IGE Managers for assignments where regulatory compliance expertise is needed. He/she monitors and validates the implementation of recommended corrective actions identified in audit or regulatory coverage.

Key Responsibilities

II – Conduct of assignment

The Lead Auditor conducts audit assignments from planning to issuance of the final report. This includes the following responsibilities:

• Assess the risks of the audited activities and to validate the related control environment for its design and operating effectiveness
• Review and challenge the processes and controls in view of their respective purpose and mandates as well as the related risks, relying on fact based and documented audit works
• Verify the audited unit’s compliance with internal policies and procedures and the applicable laws and regulations
• Monitor the fieldwork carried out by the team and to adjust the fields of audit to the risks identified
• Maintain close communication with the IGE and stakeholder management on audit progress following the pre-set timeframe
• Notify immediately the Audit Manager / Regional Supervisor / Head of Local Audit of any major control weaknesses (reputational, regulatory, compliance, etc.) identified during the audit review and comply with any escalation policy in the bank
• Manage and organize interviews, debriefing meetings of conclusions with Management impacted by the audit
• Follow up, review and finalize with Management on response to the draft audit report and prepare for the final audit report publication
• Document, communicate, and memorialize audit deliverables are in adherence to the IGE/IGL Methodologies as per the Audit Charter
• Monitor and maintain assigned Auditable Objects (AO) pertaining to the assigned areas of coverage

III – Management of a team during an assignment

• Define objectives and perform end of assignment assessment for the team allocated during an assignment
• Prepare assignment planning and allocate work streams by team member and manage projects/tasks/staff and budget resources efficiently
• Ensure collaborative and productive relationship within the team and a good coordination throughout the International Network and with auditees
• Contribute to the continuous improvement of the team, providing guidance and feedback to team members on the coverage subject matter

III – IGE Continuous Improvement Program / Transversal topics

The Lead Auditor contributes to the continuous improvement of IGE methodologies and processes. As part of his/her responsibilities, he/she can be requested to:

• Contribute to the on-going development of IGE’s knowledge and expertise regulatory guidelines, requirements, or expectations; attend industry or CA group events to keep abreast of relevant developments in second line compliance advisory and testing.
• Contribute to the creation or update of methodologies and audit processes/guides through iterative dialogue with Methods & Support
• Update Auditable Items scorecards in liaison with the relevant Audit Manager
• Share any relevant information with the IGE Knowledge communities’ leaders and relevant Audit Partners
• Manage resources and schedule of the assignment to achieve the objectives of the audit plan
• Contribute to the preparation of the audit plan, in coordination with the local IGE leadership

At a minimum, the Lead Auditor must also complete within the defined timelines all annual required training on banking and regulatory matters to maintain a sufficient knowledge of the audited area for which she/he is responsible.

Management and Reporting

Direct reporting line to Regulatory Compliance, BSA/AML/Sanctions Audit Director

During an assignment, the Lead Auditor may also report to a global supervisor in charge of the assignment.

Key Internal contacts

Auditees (2nd line CACIB Compliance and CUSO Compliance), other control functions

Key External contacts

The Audit Lead may be asked to coordinate co-source resources on engagements or provide support for regulator interactions

Role specific requirements

This role may require business travels in any relevant locations to conduct the assigned audits, for periods up to several consecutive weeks.

Lead Auditors must comply with the CACIB Audit Charter, in particular the five fundamental ethical principles (integrity, objectivity, confidentiality, expertise, and transparency) and all other locally applicable regulations.

Before or after an assignment, Lead Auditors shall have no direct operational responsibility or authority over any of the activities under review. They shall not develop systems or procedures, prepare records or engage in any activity, which belongs to the auditable perimeter.

Qualifications/Education Required

• Bachelor or Masters’ degree in accounting, business, finance, engineering, economics or related field (or relevant experience)
• Certification (e.g. CFA, CPA, CIA)

Experience Required

• 6 to 10 years of experience in audit or relevant control environment
• Regulatory compliance experience and background
• Experience with remediations preferred
• Strong knowledge of bank and broker dealer operations

Approved Person Registration

• Series 99 preferred

Competencies Required

• Organization, efficiency, results-driven, analytical skills
• Project management (e.g. work organization, time planning, feedback, communication)
• Verbal and written communication
• Autonomy and Leadership
• Self-confidence, ability to defend own findings and conclusions, ability to cope with stress
• Accuracy and reliability
• Fluent in English
• Relationship management
• Capacity to cooperate
• Ability to work across disciplines and cultures
• Basic French preferred

Skills & Knowledge Requirements

• Knowledge of the principles, practices and techniques of auditing
• Demonstrated ability to gather, analyse facts, and prepare and present concise reports
• Knowledge of organization and activities of the Bank,
• Ability to lead a group or work as part of a group to accomplish shared goals

Any specific skills knowledge in using core IT systems of the Bank (understanding of the data production, analysis of the results) - desirable