Internal Audit Department - Risk & Operations Audit AVP

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

The incumbent is responsible for supporting audit execution including independently leading audits of BOC NY’s front line business activities, risk management and management functions. Coverage of business activities include but is not limited to retail banking commercial/corporate lending, trade finance, treasury, payments, correspondent banking, commodities, and capital markets. Audit coverage of risk management covers all corresponding risk types including market, credit, corporate compliance, liquidity, operational, Interest Rate, Reputational and Strategic Risks etc. with a peer link to BSA/AML/OFAC compliance.

Include but not limited to:

Enhance Audit Function

• →Execute and supervise audit coverage strategy of business activities, management functions, and attendant risks
• →Contribute to US-wide audit risk assessments for business activities and management functions
• →Design and ensure implementation of testing of controls of business activities and management functions
• →Execute assigned audit programs and review auditor work papers
• →Ensure delivery of audit reports and Internal Audit feedback that is complete, insightful, and timely

Oversee and Report Correction

• →Evaluate management action plans to ensure they adequately address the audit issue raised
• →Direct and/or perform issue tracking and risk-based validation issues
• →Coordinate with key stakeholders to identify emerging issues

Audit Strategy and Program

• →Design and ensure implementation of continuous monitoring of business activities and management functions and attendant risks

Improve Audit Toolset

• →Recommend improvements in automation for departmental performance
• →Partner with data analytics to design and apply re-usable tools to automate testing & sampling

Build Expert Knowledge

• →Provide feedback to auditor professional development plans
• →Serve as key department resource on lines of business, and audit procedures to test risks

Support other initiatives

• →Assist the VP Senior Auditors on regulatory management and external auditor requirements.
• →Support other departmental initiatives

• Bachelor’s degree in Business, Finance, Accounting or related areas is required; Master’s degree is preferred
• Minimum 4 years of work experience in a control, risk, or audit role, including risk management at a large banking organization and/or Big 4 accounting/consulting firms with a good understanding of front line business related to corporate, commercial and retail banking. Understanding of risk management including market, credit and operational risks from a control and mitigation perspective. Knowledge of management functions such as Finance, HR, Legal etc.
• Some leadership experience in applying or evaluating the efficacy of control frameworks including US bank regulatory standards, heightened expectations of the OCC, enhanced prudential standards of the Federal Reserve System, among others
• Capability in overseeing and executing multiple deliverables preferably within a highly matrixed structure where planning, management and strong interpersonal skills were critical to success
• Familiar with risk applications and metrics for retail and commercial banking
• Experience using computer assisted auditing tools or performing computer modeling to evaluate assertionsCapability and willingness to develop staff on technical and soft skills
• Strong communication and interpersonal skills required with ability to present complex issues and concepts to the management
• Ability to build rapport with internal stakeholders
• Experience in ensuring documentary sufficiency of analytical procedures to support audit standards and bank regulatory expectations
• Recognized accounting/auditing/information system certifications (e.g. CPA, CIA, FRM, CFA) or equivalent is a plus.