The Head of Audit, Commercial Banking (CB) has responsibility for management of the Group's Internal Audit function (GIA) relating to the Commercial Banking business, in accordance with the Group's Audit Charter, as approved by the Audit Committee from time to time, and for ultimate reporting directly to the Group Head of Internal Audit.
Key Roles and Responsibilities
- Strategy
- Ensure that CB GIA takes into account the Group's strategy and is able to form an independent view of whether the key risks in the organisation have been identified, including emerging and systemic risk and assess how effectively these risks are managed.
- Ensure that the team operates in line with the Audit Charter, which is agreed with the Audit Committee.
- Ensure that the team remains independent from management and free from interference.
- Business
- The role spans audit activity across CB segment globally. The CB portfolio contains corporate entities with sales turnover above USD 10 million.
- Ensure the execution and effectiveness of audit plan.
- Monitor the costs to ensure that the budget targets are met.
- Drive cost efficiencies where possible without compromising on the effectiveness of the audits
- Processes
- Responsible for supervising the overall audit process including Risk Assessment, Audit Planning, Audit Fieldwork and Reporting.
- Responsible for reporting the results of Internal Audit's activity to Senior Management within CB and relevant Committees in conjunction with Head of Audit, Client Segments, CIB and CB, Global Head of Audit CIBCB and Group Head of Audit.
- Responsible for 28 Auditable Entities.
- People and Talent
- Ensure the team is adequately resourced and staffed by an appropriate number of competent staff, who are sufficiently independent to perform their duties objectively.
- Ensure the team has access to the necessary training/learning programmes to execute their role and, where required, maintain any professional qualifications and memberships.
- Allocate appropriate responsibility, accountability and authority to direct reports.
- Provide leadership, management and coaching to direct reports to ensure they are highly engaged and performing to their potential.
- Provide oversight to Cross Functional and Country audit teams performing work relevant to the Head of Audit, CB – approximately 20 for the year on top of 6 risk based audits.
- Risk Management
- Oversee the CB Functional Audit team, which is one part of the wider third line of defence and provides independent opinion on the state of controls. The role provides assurance and opinion over the effectiveness of CB control environment. The structure is largely aligned with the second line of defence where they also have a designated risk professional looking after CB activities given common processes and infrastructure established.
- Governance
- Responsible for ensuring that GIA is appropriately represented at all of the relevant risk and process governance committees to track and identify relevant and material issues.
- Provide input as required by Head of Audit, Client Segments CIB and CB, Global Head of Audit CIBCB and Group Head of Audit to relevant Group level Committees.
- Oversee/participate in the following committees:
- CB PGC
- CB Onboarding PGC
- CB Business Enablement Forum
- 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 the 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 function to achieve the outcomes set out in the Bank's Conduct Principles and The Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters within the CB Internal Audit team.
- No direct responsibility with local regulator but involve in relevant discussions about CB portfolio, such as with the PRA.
Other Responsibilities
- Provide several training programmes to GIA staff.
- Embed Here for Good and Group's brand and values
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
