EXTERNAL CLIENT ROLE
The AVP on the Compliance Audit Team is mainly responsible for supporting the oversight, design and execution of audit coverage for US AML program consisting of the Bank Secrecy Act, the US Patriot Act, and other AML, OFAC and related regulatory requirements (“AML program”) and the compliance program.
Drive the audit program enhancements to achieve a “Strong” internal audit function and to meet enhanced prudential standards
• Execute the audit coverage of the AML and sanctions (OFAC) programs.
• Prepare the audit US-wide BSA/AML and OFAC audit risk assessments.
• Design and execute audit tests of the AML program.
• Perform assigned audits including executing approved audit programs and questionnaires.
• Review audit workpapers covering planning and fieldwork for sufficiency.
• Provide subject matter expertise to assist in the execution of other audits (business, operations, technology) that may have AML-related risks.
• Ensure the delivery of audit reports and IA feedback that is complete, insightful, timely, accurate and concise.
Prompt, oversee and report on corrective action
• Evaluate management action plans to ensure that they adequately address the audit issues raised.
• Direct and/or perform IA issue tracking and validation of outstanding audit issues.
• Follow-up with the responsible business and compliance managers and their teams to ensure control issues are effectively resolved.
• Coordinate with the key stakeholders to identify emerging issues and l thematic or systemic control issues affecting the US operation.
Update the audit strategy and program • Design and ensure implementation of continuous monitoring of the AML program.
• Collect and analyze AML Program related information from regulators, H.O. and Bank.
• Revise the audit work programs.
• Support the update of risk assessments and audit plans.
• Establish and maintain relationships with internal stakeholders of the AML program.
Improve audit toolset
• Recommend improvements for departmental performance.
• Partner with data analysts to design and apply re-usable tools to automate testing, sampling, re-performing processes, and exception testing.
• Optimize the use of the audit workflow tool, when available.
Build expert knowledge
• Provide feedback for auditor professional development plans specific to AML and compliance.
• Advise auditors on training alternatives.
• Serve as a key departmental resource on AML and compliance audit procedures to test AML Program risks.
• Cross-train auditors in all aspects of internal audit procedures.
• Assist VP Auditors on regulatory management and external auditor requirements and other information requests.
• Support other departmental initiatives.
Type of Work Experience Years of Work Experience
At least 7 years work experience in a control, risk, compliance or audit role at large banking organizations or regulatory experience in a senior management role in compliance, AML, or sanctions.
Masters’ in business or related topic is a plus.
CAMS certification or audit certification
Integrity, Professionalism, Communication (verbal, written), Task orientation, Time Management, Cultural Sensitivity, Team Orientation
• Demonstrates excellent communication and interpersonal skills required with ability to present complex and sensitive issues to senior management
• Ability to build rapport with internal stakeholders and examiners
• Experience as a bank examiner, auditor, consultant or compliance professional with a strong understanding of BSA, AML, and OFAC
• Experience in ensuring documentary sufficiency of analytical procedures to support audit standards and bank regulatory expectations
• Proven process manager with an established track record of overseeing and executing multiple deliverables
Familiarity with the Bank Secrecy Act (BSA), USA PATRIOT Act, OFAC, and consumer banking regulations.
Additional Eligibility Qualifications
• Specific experience using computer assisted auditing tools to improve sampling and test audit assertions
• Capability and willingness to develop staff, including new hires, on technical skills