Risk-Audit Job Description
Risk-Audit Duties & Responsibilities
To write an effective risk-audit job description, begin by listing detailed duties, responsibilities and expectations. We have included risk-audit job description templates that you can modify and use.
Sample responsibilities for this position include:
Risk-Audit Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Risk-Audit
List any licenses or certifications required by the position: CIA, CISA, CPA, CMA, CA, CCIM, PMP, APC, RICS, CFE
Education for Risk-Audit
Typically a job would require a certain level of education.
Employers hiring for the risk-audit job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Business, Accounting, Finance, Education, Economics, Management, Graduate, Engineering, Statistics, Computer Science
Skills for Risk-Audit
Desired skills for risk-audit include:
Desired experience for risk-audit includes:
Risk-Audit Examples
Risk-Audit Job Description
- Review and complete documentation of scoping, process understanding, risk & control identification, control evaluation and observations
- Provide complete, accurate and timely information to clients
- Provide an opinion, highlight concerns and factor local conclusions into Head of Audit, Operational Risk's risk assessment, Quarterly Business Review and audit planning
- Act as the subject matter expert on Operational Risk & Reputational Risk framework matters within the Americas Internal Audit department
- Support local Head of Audit's assessment of the Operational Risk and Reputational Risk frameworks against their Risk Assessment Units
- Represent the Americas Internal Audit department in various internal management forums and communities of interest
- Continually update awareness and understanding of the Operational Risk & Reputational Risk subject matter
- Participate in relevant local peer Bank and industry forums / discussions to enable benchmarking to best practices
- Manage the local element of Operational / Reputational Risk audits
- Providing subject matter expertise on operational risk matters for the APAC internal audit department
- Previous experience with Operational Risk Management
- Applicants should be qualified accountants and trained in practice and/or the financial services sector/industry
- Strong technical skill-set across various technologies and platforms including Operating Systems (Windows, Unix, Linux)
- Documenting the results of work performed
- Proficient understanding of internal audit processes including setting the audit scope
- 5+ years of experience with pricing financial products in businesses such as equities, rates, commodities, FX
Risk-Audit Job Description
- Understand how market risk is mitigated
- Understand whether controls are fit for purpose across Market risk and IPV
- Assist with audits conducted across the enterprise, with a specific focus on CCAR, Market Risk, Liquidity Risk, Credit Risk and AML/BSA
- Managing the planning and execution of operational risk audits
- Representing the internal audit department in management meetings and managing effective work relationships with internal stakeholders regionally and globally
- Work with other team members to ensure audit work and other projects undertaken throughout the Group provides appropriate assurance
- Assist in the continuing development and improvement of the Risk and Audit team
- Carry out and oversee other work as required
- Contribute to the direction and focus of the Risk Internal Audit team's activities through active engagement in risk assessment, audit planning, and continuous monitoring processes
- Draft audit plans, develop audit tests, and lead audit execution for all applicable modeling and model risk management functions and activities
- Experience in a Financial Services or public accounting firm, with an appropriate level of exposure to and involvement with Risk Management particularly Credit Risk
- 5 years internal audit/ Risk and Control experience as part of a financial services internal audit and/or risk management department
- Act as model subject matter advisor and technical resource for the team by providing consulting, creating standard model work programs, and providing model training and job aids to the broader department
- 8+ years of relevant experience working with Models
- Bachelor's or Advanced Degree in Statistics, Mathematics, or equivalent
- CPA, CIA or related certification
Risk-Audit Job Description
- Partner with colleagues, clients and control community members to evaluate, test and report on the adequacy and effectiveness of management controls which is conducted in accordance with department policies and procedures, industry professional standards and supervisory rule and guidance
- Review quantitative modeling processes of Credit Risk (models and analytical tools)
- Identify and communicate compensating controls in response to potential client findings
- Developing and executing a robust Audit Plan by reviewable entity for assigned businesses in accordance with Internal Audit standards, relevant government statutes and regulations
- Managing a complex and critical unit within Internal Audit, including a small to medium sized team of Internal Audit professionals
- Leading the professional development of Internal Audit staff
- Participating in major business initiatives and proactively advising and assisting the business on change initiatives
- Attending and reporting to all ARCC meetings, including the preparation of internal audit papers
- Development, ownership and delivery of the group risk management plan and internal audit plan
- Manage the identification, prioritization and management of key risks to ensure business compliance
- BA/BS, all majors are considered, concentration in Accounting, Finance or Economics
- Degree from a university or technical college in business informatics
- Broad background of information technology IT/data architecture and lifecycles, data governance, service management, testing or data/system migration
- Ability to interpret new regulations and translate into consulting opportunities
- At least 6 years of experience in audit, at least 6 years of experience in risk management, at least 6 years of experience in compliance, at least 6 years of experience in financial analysis, or a combination of these
- Master’s degree in Accounting, Master’s degree in Finance, Master’s degree in Economics, or Master of Business Administration
Risk-Audit Job Description
- Big 4 experience preferred but not required
- Combination of 2-3 years IA with 5-10 years Credit experience or if all in IA focusing on Credit Risk or most recent 5 years on Credit risk
- Familiarity with FINMA / PRA requirements on top of FRBNY requirements preferred
- Contribute to the strategic direction of Audit Division, on the development of audit plans, identification of emerging trends, issues and evolving regulatory requirements
- Assist with implementing a corporate-wide risk management process to effectively capture and report on enterprise risks to the organization
- Review and complete processes and documentation of scoping, risk & control identification, control evaluation and observations in the company's audit toolkit
- Develop a wide network of contacts across the company and the business to identify and work towards strategic goals
- Collaborate and support the Director to define the appropriate coverage strategy and audit plan
- Review and complete processes and documentation of scoping, risk & control identification, control evaluation and observations in the audit toolkit
- Identify new opportunities that would result from cross-team collaboration
- Financial services industry experience, retail banking, insurance, funds, capital markets, payment processors
- Knowledge of risk related frameworks and standards
- Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Risk Compliance Manager (CRCM), Certified Risk Management Assurance (CRMA) or Chartered Financial Analyst (CFA)
- 9+ years of experience in audit, 9+ years of experience in risk management, 9+ years of experience in compliance, 9+ years of experience in financial analysis, or a combination of these
- Working knowledge and experience with analysis tools such as IDEA, Audit Control Language, and proficiency in Microsoft Access, Word, Excel, PowerPoint, and Visio
- Strong organizational and time management skills preferred
Risk-Audit Job Description
- Oversight and guidance on WSPs, operational manuals
- Establish open and effective communication with management
- Serve as contact with Risk management in a collaborative way to foster positive working relationships, provide control advice and issue trends and to stay abreast of major business activities and changes in the business
- Support continuous process improvement by identifying needs and opportunities and recommending appropriate process changes
- Develop/maintain expertise in Risk Management subject areas and champion knowledge transfer to staff
- Conduct risk assessments at contract level enterprise-level
- Assist in preparing annual Internal Audit and Risk programs
- Conduct risk based Internal Audits and Project Management reviews
- Advise on Governance, Risk Management and Process Improvements throughout the organisation
- Participate in undertaking comprehensive planning and risk assessments relating to each assignment to ensure that the engagement identifies potential business risks
- Of related experience in the compliance, information security, or risk field, including an audit function
- 5+ years of IT Audit experience in the Financial Services industry
- Bachelor's Degree in Finance, Information Systems and/or a related field
- Building and validating risk models
- Enterprise level risk assessment
- Provide subject matter support to the audit division on audit methodology for data risks including data management