Head of Audit, GCFO Functions

  • Negotiable
  • London, England, United Kingdom
  • Permanent, Full time
  • Standard Chartered Bank
  • 14 Nov 17 2017-11-14

Please view Job Description for details.

Reporting to the Global Head, Audit, Functions, you will be the Head of Audit - GCFO Functions (Finance, Treasury and Business Efficiency), leading a specialist team to enable more targeted and focused audit coverage of finance, treasury and third party risk, and increased impact with key Functions stakeholders. The position would have direct responsibility for the GCFO Functions audit coverage Group-wide and reviews mandated by regulators. The team has two sets of Bank stakeholders which defines the scope of its responsibility

  • internal GIA stakeholders (Functional Heads of Audit);providing audit service through the assessment of risk, and designing audit test programs for finance and third party risk, to be delivered through audits of Client Segments;
  • internal non-GIA stakeholders (Group Chief Finance Officer Owners and other relevant stakeholders in each Client Segments that report to the Group Chief Finance Officer (GCRO)); providing audit service through direct assessment of finance/third parties and periodic delivery of audits of second line of defence assurance and governance oversight.

  • Key Roles and Responsibilities

    • Ensure that the GCFO Functions audit teams take into account the Group's strategy and is able to form an independent view of whether the key risks in the organisation have been identified, including emerging and systemic risk and assess how effectively these risks are managed. Ensure that the teams remain current with changes in regulatory expectations of GIA.
    • Ensure that the GCFO teams operate in line with the Audit Charter, which is agreed with the Audit Committee.
    • Ensure that the GCFO team remains independent from management and free from interference.
    • To develop and ensure that the Audit Plan and Audit Strategy for the GCFO portfolio appropriately addresses the regulatory requirements and expectations.
    • Oversee effective execution of the Audit Plan across GCFO portfolio to a high standard
    • Be a member of the Global HoA, Group CFO & Risk Functions LT and take responsibility for the operations of Finance, Treasury and Third Parties.

    • Lead a specialist team to enable more targeted and focused audit coverage of finance and third party risk, and increased impact with key Functions stakeholders
    • Directly responsible for GCFO Functions risk audit coverage Group-wide and reviews mandated by regulators

    • Develop the audit plan for Finance and Business Efficiency Risk to align to the audit strategy, manage its overall execution with optimum scope and efficient use of GIA resources.
    • Assess appropriateness of the finance and business efficiency risk management processes commensurate with the scale and nature of the business and risk profile
    • Provide guidance and support to Client Segment and Country audit team to deliver alignment to the strategy / plan and enable consistency of CFO Functions coverage across segments and countries.
    • "Top-down" assessment of GCFO Functions risks and controls that can be tested via Client Segment and Country audits.
    • Design CDE and COE test programs that can assesses both process / operational risk factors, the design of policy/dispensation, and effectiveness of finance oversight
    • Support all audit planning, risks assessment, fieldwork, audit issue development and reporting activities executed in Client Segment / Country audits, attend "tollgates"
    • Review audit reports and provide feedback to audit owner (FHOA, CHOA)
    • Support FHOA and RHOA review of finance and third party risk items that are presented to Client Segment and Regional Risk Committees.
    • Execute audits of the second line of defence assurance and governance oversight provided by each Group Control Owner (RCO). These audits will require a high degree of expertise to identify and agree areas for improvement that increase impact and credibility with senior stakeholders.
    • Oversee the implementation and execution of the agreed audit plan across CFOR functions and facilitate collaboration with the Regional teams to achieve a holistic approach to the assessment of risks and development of audit plan / strategy.
    • Provide technical knowledge and guidance to the CFO Function audits to team leaders, team members and other interested parties to enable them to effectively deliver their assigned contributions for an audit and to increase knowledge awareness
    • Provide guidance and support to CHOA teams. Ensure a Quality Assurance mechanism is in place over reviews.
    People and Talent
    • Ensure the teams are adequately resourced and staffed by an appropriate number of competent staff, who are sufficiently independent to perform their duties objectively.
    • Ensure the teams have access to the necessary training / learning programmes to execute their role and meet local regulatory requirements / expectations and, where required, maintain any professional qualifications and memberships.
    • Provide leadership, management and coaching to direct reports to ensure they are highly engaged and performing to their potential.
    • Responsibility to review the team structure / capacity / succession plans
    • Set and monitor job descriptions and objectives for the team, provide feedback and rewards in line with staff performance against their responsibilities and objectives
    • Lead by example and build the appropriate culture and values according to Bank's Priorities / Strategy

    Risk Management
    • Responsible for identifying, assessing, monitoring, controlling and mitigating finance and third party risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them.
    • The ability to interpret the Group's financial information, identify key issues based on this information and put in place appropriate controls and measures

    • Provide oversight of the GCFO audit team, ensuring compliance with the highest standards of regulatory conduct and compliance practices as defined by internal and external requirements.
    • Ensure the efficient running of the various review forums (e.g. Audit Report Review Forum, Audit Scope Review Forum) and participate in the quorum for those meetings when required.
    • Embed the Group's values and Code of Conduct in Group Internal Audit to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture.

    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 GIA GCFO Functions team and to achieve the outcomes set out in the Bank's Conduct Principles: The Right Environment; Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Prevention.
    • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
    Key Stakeholders
    • Group CFO and GCFO MT; Other Global Support Function Heads
    • External Auditors / Professional Services Companies

    Other Responsibilities
    • Embed Here for Good and Group's brand and values.
    • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures where relevant.

    Qualifications and Skills

    • Strong understanding of the broader banking environment and the associated business challenges, developed through experience in the industry as a member of a senior management team
    • Sound understanding of governance and control frameworks.
    • Professional finance/ audit qualifications / experience is preferred
    • Strong, proven leadership qualities, interpersonal, influencing and stakeholder management skills.
    • Analytical and sharp business acumen, the ability to assess risk and thereby optimise business and team performance.
    • Experience in working in multiple geographies preferably including in Asia and other emerging markets.
    • Demonstrated knowledge of the UK and global regulatory environment and requirements applicable to the GCFO functions (Finance, Treasury and Business Efficiency), as well as, ideally, knowledge of regulatory requirements in other key Group markets such as Hong Kong, US, India, China and the UAE.
    • Strong sense of integrity and independence with an ability to challenge.
    • Strong management and people development track record.
    • Excellent communication skills, written and verbal, given the need to deliver consistent and compelling messages to internal and external stakeholders.
    • Proven ability to manage highly diverse teams in widely dispersed geographies.
    High level of resilience and maturity to operate in a results driven and fast moving environment

    Diversity and Inclusion

    Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.