This is a hands-on role as you will be the sole Internal Auditor in Hong Kong and report directly to Audit at Head Office. You will be responsible for leading and managing the provision of internal audit and related advisory services for the Branch’s activities. In this regard, you will develop the annual internal audit plan for the Branch for review by Group Internal Audit Division and subsequently ensure the timely implementation and execution of the plan in line with applicable best practices, including but not limited to the Standards for the Professional Practice of Internal Auditing.
Position: Internal Audit Manager
Division: Internal Audit
Location: Hong Kong
About us: We are the Hong Kong Branch of a large International Banking Group.
Due to current pandemic, we can only consider candidates based in Hong Kong already, no relocation provided.
This is a hands-on role as you will be the sole Internal Auditor in Hong Kong and report directly to Audit at Head Office. You will be responsible for leading and managing the provision of internal audit and related advisory services for the Branch’s activities. In this regard, you will develop the annual internal audit plan for the Branch for review by Group Internal Audit Division and subsequently ensure the timely implementation and execution of the plan in line with applicable best practices, including but not limited to the Standards for the Professional Practice of Internal Auditing (SPPIA).
The responsibility includes also the follow-up of issues raised by Group Internal Audit Division and preparation of status reports, review of Policies and Procedures and conduct investigations/special assignments as and when requested. The role will also extend to the secondary responsibilities assigned in terms of specific audit activities/ functions/ departments and special projects, as assigned in addition to your primary responsibility. The position requires sufficient expertise and knowledge to focus/ monitor a wide range of risks in Hong Kong.
Duties & Responsibilities will include:
- Ensure effectiveness of adopted policies & procedures adherence to regulatory and statutory requirements, and safeguarding of the Branch’s assets
- Add value to the functions and activities performed by the Audit Tasks Section by identifying instances and risks that entail probable financial loss or regulatory non-compliance that could result in monetary penalties and/or reputation damage
- Identify potential cost saving opportunities by highlighting process inefficiencies
- Act within the limits of the powers delegated to you
- Ensure adequate coverage of the Branch’s activities in the annual audit plan to provide assurance to the relevant executive management on the adequacy and effectiveness of the internal controls in place within the respective department and add value to improve the functioning of the various activities performed by the referenced department, as and where applicable.
- Provide timely feedback and information to Head Office Audit for Global Audit Activity on queries, reports and other correspondence.
- Liaise with the relevant officials from Hong Kong Monetary Authority as and when required and provide clarifications and responses to queries / reports / other correspondence received.
- Liaise with the external auditors of the bank to ensure that they complement the efforts of the Internal Audit and avoid duplication of effort. This will involve meetings with the external auditors to discuss the planned audit work, the exchange of working papers, audit reports and management letters, and to ensure common understanding of audit techniques, methods and terminology.
- Manage the relationships with the Branch’s executive management and obtain their inputs and concerns on the various functions or activities pertaining to the Branch including significant developments therein, which could have an impact on the annual audit plan for the Branch.
- Prepare an annual audit for submission to Head Office Audit for Global Audit Activity for their review/comments and approval, based on the risk assessment conducted for the Branch and in line with its overall strategy.
- Ensure timely implementation and execution of the approved annual audit plan as well as the completion of the same within the assigned period. Ensure that periodical audit implementation status reports, supported by time management reports explaining any significant variances in performance against the approved annual audit plan and budget, are submitted to Head Office Audit for Global Audit Activity for his information and review.
- Ensure the introduction and continued adherence to internal auditing best practices including but not limited to the Standards for the Professional Practice of Internal Auditing (SPPIA) and other leading audit. Ensure that the audit planning, fieldwork and reporting stages are conducted in consonance with the procedures/ guidelines contained in the internal audit manual. Also, make recommendations to Head Office Audit for Global Audit Activity on the amendments to the approved internal audit manual, in line with best practices.
- Escalate promptly (on interim basis if required) any major issues/significant concerns emerging from the functions audited, to Head Office Audit for Global Audit Activity for their review/action to enable timely rectification/ resolution of the highlighted issues.
- Utilize appropriate audit software procured by Group Internal Audit
- Monitoring, on overall basis, the post-audit follow-up of audit reports and ensure compliance with recommendations.
- Submit your own performance appraisal to Head Office Audit for Global Audit Activity on timely basis in accordance with the laid down policy in this regard.
- Maintain activities in accordance with Service Level Agreements (SLAs) with internal departments to achieve improvements in turn-around time.
- Build and maintain strong and effective relationship with all other related departments and units to achieve the Group’s goals/objectives.
- Provide timely and accurate information to the external auditors and the Compliance function as and when required
- Identify related areas for professional development of self-based on discussions with Head Office Audit.
- Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training provided by the Bank and attain/maintain the required levels of competence.
- Attend mandatory (internal and external) seminars as instructed by the Bank.
- Comply with all applicable legal, regulatory and internal compliance requirements including, but not limited to, the Bank’s Country Compliance manual; Group Compliance Policies and Procedures (Anti Money Laundering & Counter Terrorist Financing, Sanctions Policy, Data Protection Policy, Fraud Control Policy, Whistle Blowing Policy, Conflict of Interest and Insider Dealing Policy).
- In accordance with the Branch Governance manual, contribute to and comply with the Branch’s Risk Framework, consider Risk Appetite and promote a positive Risk Culture:
- Understand and effectively perform your role under the Three Lines of Defence principle to identify, measure, monitor, manage and report risks.
- Ensure systematic good outcomes for clients in accordance with Conduct Risk policy.
- Support the framework of RCSA, KRI, Incident reporting and remediation, as appropriate, in accordance with the Operational Risk Management requirements.
- Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training provided by the Bank and attain and maintain the required levels of competence.
- Ensuring high standards of data protection and confidentiality to safeguard commercially sensitive information. Maintaining utmost confidentiality with regards to customer and internal bank information obtained during the course of business and provide such information on a need to know basis only to Senior Management of the bank, Audit and Compliance functions, and Hong Kong Monetary Authority.
- Maintains high professional standards to uphold the bank's reputation and to strengthen its market leadership position.
- All other ad hoc duties and/or activities related to the bank that management may request of the employee from time to time
- University graduate (Bachelor’s degree) preferably with a Major in Finance, Banking, Economics, Mathematics, or Accounting (related field of study), Masters preferred
- Minimum of 7 years’ Internal Audit experience in a major bank.
- Professional Audit qualifications such as CIA / CMA / CPA / CA/ ACCA / CISA
- Excellent oral and written communication skills in English, fluent Cantonese or Mandarin preferred.
- Adequate legal and documentation background.
- Adequate knowledge of various banking products and services and the related operations.
- Knowledge of Basel Committee best practices pertaining to banking operations.
- Proficiency in risk concepts, banking operations/ systems and pertinent regulatory requirements Well-developed analytical and interpersonal skills.
- Self-motivated, eye for detail and the ability to persuade others.
- Flexible team player and able to work and deliver under pressure.
- Knowledge of applicable International Accounting and Auditing Standards and related pronouncements.