Audit Manager - Legal, Compliance and FCC

Job description / Role

PURPOSE:
- To participate as team leader or team member in audit work.
- To manage simple audits, depending on the skills of the individual.
- To support the team manager to execute the assigned audit work in an efficient and effective manner, within the given budget and timelines, and in line with GIA methodology standards.
- When acting as team leader, to provide guidance to team members to execute the assigned audit work.
- To apply in-depth auditing skills and relevant business, technical and risk management knowledge to the assigned audits.
- The individual may support the HOA in their role as the GIA portfolio/country subject matter expert, depending on the skills of the individual. This will include contributing to the GIA risk assessment and development of an appropriate audit plan for the HOAs assigned portfolio.

Key Roles and Responsibilities

Strategy
* Support the HOA, where required, in the development of the GIA risk assessment and development of an appropriate audit plan for the HOA assigned portfolio.
* Support the HOA to ensure that the scoping of audit work assigned addresses the key risks identified in the detailed risk assessment and in the audit planning process, and meets relevant regulatory requirements and expectations that are required to be covered by GIA.
* Ensure that GIA operates in line with the Audit Charter, remains independent from management and free from interference.

Business (Budget)
* Assist the HOA to effectively manage T&E costs within the allocated budget for audit engagements where assigned as team leader (or team manager).
* Identify and implement opportunities for cost savings and optimal productivity of assigned audit engagements.

Processes
* Participate as a team leader and team member in audit work, and manage simple audits depending on the skills of the individual.
* Support the team manager 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.
* Apply an in depth understanding of, and compliance with, GIA methodology standards and the GIA system in all areas of assigned GIA activity.
* Evaluate quantitative and qualitative data to diagnose underlying issues, patterns and root causes.
* Monitor/track assigned audit issues and action plans, and report overdue items to the appropriate team manager/HOA/CHOA for escalation to the appropriate business manager and/or governance committee for resolution.
* When acting as team leader
* Propose the scope of assigned audits to the team manager, including the Audit Planning Memo, Process Risk Control Matrix and Terms of Reference.
* Ensure that the audit team is well briefed before the start of the audit.
* Provide clear guidance to team members, supervise and carry out a detailed review of their audit work to ensure that methodology requirements are adhered to in all areas of GIA activity as well as raising team members' awareness and understanding of the methodology.
* Manage the on-the-ground working relationship with the auditees to ensure that they understand the audit process. Ensure that expectations are clear for all parties to facilitate the smooth progress of the audit.
* Proactively engage the team manager to ensure that audit deliverables meet quality standards and timelines required by the GIA methodology.
* Provide guidance on technical knowledge and management skills to team members to enable them to effectively deliver their assigned contributions for an audit.
* Ensure that audit reports are accurate, clear and articulate key risks, root causes and impact.

Risk Assessment
* Assist in the early identification and escalation of risks, issues, trends and developments for reporting to the line manager/HOA/CHOA. Raise issues/concerns outside the normal audit process, where appropriate.
* For assigned audits, engage with the auditees and team manager on the status of rollout of the Operational Risk Framework and effectiveness of ORMAF/ORF.
* Adopt an anticipatory approach to the assessment of risk through stakeholder engagement and the monitoring of the external environment to improve audit planning.
* Regularly review Product/Country related MI and reports to keep up-to-date with key trends within the business.
* At the request of the line manager/HOA/CHOA, attend Product/Country meetings (e.g. PGC, BORF, CORC) to keep up-to-date on key business matters and to provide the right challenge to ensure risks are appropriately identified, discussed and timely remediation plans are put in place.
* Engage the GIA portfolio champions to update the permanent audit file within 4 weeks of the end of an audit.

People and Talent
* Group-standard responsibilities and accountabilities:
* Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
* Ensure the provision of ongoing training and development of people, and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
* Employ, engage and retain high quality people, with succession planning for critical roles.
* Responsibility to review team structure/capacity plans.
* Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.


GIA-specific responsibilities and accountabilities
* Demonstrate leadership and ability to motivate and guide audit team members.
* Influence change within the business.
* Ensure correct capacity planning for assigned audits to ensure optimal productivity of the team.
* Provide written performance feedback to team members at the end of an audit (the team manager will provide feedback where team members are more senior to the team leader).
* Facilitate the development of any direct reports to grow them in their careers.
* Provide on the job training and recommend formal training for direct reports or audit team members to support GIA activities.
* Support the HOA to proactively spot talent for GIA.

Communication:
* Build good working relationships with the business to facilitate execution of audit work, help improve the control environment and keep updated with changes in the risk profile of the business.
* Conduct/attend regular meetings with assigned business stakeholders.
* Provide assigned stakeholders (approved by HOA/CHOA/line manager) with regular value adding reports and updates, as appropriate, on risk trends, emerging risks and GIA's opinion on the state of the control environment.
* Ensure communication of the overall audit opinion and the supporting findings/issues/root causes to all relevant stakeholders.
* When acting as team leader
* Manage timely communications with auditees (including the audit notification, terms of reference and audit issues), hold regular fieldwork discussions to ensure expectations are clear and that there are no surprises, and facilitate the debrief meeting with auditee management at the end of an audit.
* Ensure that the audit report is submitted for review in accordance with methodology timelines.
* Ensure timely escalation of delays in conformance with GIA methodology timelines, to both auditee management and GIA management.
* Develop an external network through participation in external and professional forums.

Risk Management
* GIA acts as the third line of defence under the Risk Management Framework and provides independent assurance of the effectiveness of management's control of business activities (the first line) and of the processes maintained by the Risk Control Functions (the second line). GIA provides risk-based assurance that the system of control is working as required by the Risk Management Framework.
* GIA staff shall have no direct operational responsibility or authority over any of the activities subject to Internal Audit's review. The Group Head, Internal audit is also responsible for ensuring that no staff in the function carry out any activity which may jeopardise their independence.

Governance
* Ensure compliance with the highest standards of regulatory conduct and compliance practices as defined by internal and external requirements.
* Adopt the Group's values and code of conduct in GIA to ensure adherence with the highest standards of ethics and compliance with relevant policies, processes and regulations.

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.
* Lead the FCC audit team to achieve the outcomes set out in the Bank's Conduct Principles: Financial Crime Prevention and The Right Environment.
* Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders
* Designated business stakeholders, typically related to individual audit assignments.
* GIA stakeholders - fellow team leaders, team members and managers, Product, Functional, Country and Regional Heads of Audit.

Other Responsibilities
* Embed Here for good and the Group's brand and values in GIA
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Requirements

* An experienced career auditor (internal or external) or a business person with a minimum of 5 years relevant experience in audit, governance, risk or in a business environment.
* Understanding of business strategy, plans, products, performance and related issues at the business unit level.
* Strong communication skills, both written and verbal, with ability to influence business management, other stakeholders and peers.
* Confident and courageous to raise/escalate issues in a proactive, professional and timely manner.
* Proactive, self-directed and able to work with minimum supervision.
* Ability to manage an audit team.
* Demonstrate understanding of, and commitment to, the Group's core values.
* Professional audit certification preferred.
* Ability to commit to 40% business travel (less for country teams).

About the Company

Standard Chartered Bank started in 1958 in UAE with its first branch in Sharjah. The Group’s business gradually increased in Dubai with the opening of several branches and today, Dubai is the administrative hub of the Middle East and South Asia Region. In its 43rd year, the Bank enjoys the position of having the most extensive branch network among foreign international banks in UAE with 10 branches emirate-wide.

Standard Chartered is an international bank, focused on the established and emerging markets of Asia, Africa, the Middle East and Latin America with an extensive global network of more than 600 offices in over 50 countries. The three principal business groups are Global Markets, Personal Banking and Corporate and Institutional Banking.

In UAE, we are one of the leading banks, offering an extensive range of products and services for personal customers, local companies, multinational corporate and financial institutions.