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Job Overview

Senior Audit Manager - Private Banking - Wealth Management

Location: Hong Kong Salary:
Type: Permanent Contact: Hazel Rowe
Posted: 5 days ago

Working as a Team Leader / Manager audits primarily relating to Private Banking and Wealth Management. This involves supporting the HOA Private Bank / 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 Risk Assessment and stakeholders' engagement for the Private Bank including attendance at committees, forums etc.

Strategy

  • Support the HOA, where required in the development of the GIA risk assessment and an appropriate audit plan for Private Banking. This also involves Continuous Risk Assessment of the Private Banking business, identification of new / emerging risks and the impact to the audit plan.
  • 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 change.
  • Ensure that GIA operates in line with the Audit Charter, remains independent from management and objective in delivering the audit plan.
  • Business
    Strong awareness and in depth understanding of the key risks in pre-implementation and Business-As-usual (BAU) controls and processes.
  • Strong awareness and in deep understanding of the key risks involved in the audit of Private Banking including but not limited to CDD / AML, Tax, Operational, Trust, Private Bank products and regulatory.
  • Have awareness and understanding of other key risks such information and cyber security, technology, privacy, projects related to the Private Bank business.
  • Apply a client focus and efficiency lens in reviewing the controls and business processes.

Processes

Participate as 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.

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 performance feedback to team members at the end of an audit in conjunction with the team manager.
  • Facilitate the development of audit team members and other country auditors 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 risks relevant to the Private Banking.
  • 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/relevant HOAs and business stakeholders to socialise and raise awareness of the risks within Private Banking.
  • 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.

Stakeholder Management & Communications

  • Establish and maintain the effective working relationships with the management of the Private Banking to keep abreast of business developments and to maintain regular dialogue with stakeholders on areas of concern and to help them improve their overall control environment.
  • 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 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 scope, risks, findings and the final report for areas that are related to Private Banking.
  • 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 Private Banking'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.
  • To achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention etc.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders

  • Designated business stakeholders in Private Banking
  • 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 GIA
  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Our Ideal Candidate
Professional auditors or business practitioners with core audit / Private Banking skills and knowledge.

  • Effective collaborative skills that contribute to positive working relationships with counterparts in Group Audit and the business.
  • Demonstrates ability to work independently and seek guidance when needed.
  • Demonstrates ability to multi-task without loss of quality.
  • Flexibility to work across different functions and situations globally, and change priorities at short notice.
  • Demonstrates ability to think objectively and "think outside the box" when analysing issues and recommending / developing solutions.
  • Effective oral and written communication skills.
  • Ability to foster a participative and cooperative work environment.
  • Demonstrates understanding of and commitment to the Group's core values.
  • Engagement in professional certification activities, including completion of mandatory Bank-sponsored industry certification (e.g. credit, trade finance etc.) where appropriate.

If you are interested in this role, please apply below or contact me for more information.

Job posted by Hazel Rowe - Registration Number: R1114575