Vice President (Financial Crimes Audit)
EMEA Internal Audit Office (EIAO), as the Bank’s third Line of Defence, and in accordance with the Global Institute of Internal Auditors (IIA) International Standards (IIA Standards), provides independent assurance to the Board and Executive Management on the quality and effectiveness of governance, risk management and internal controls to monitor manage and mitigate key risks to achieving the Bank’s objectives.
MAIN PURPOSE OF THE ROLE
MUFG is embarking on a multi-year transformation to globalize the Internal Audit function. Financial Crimes Audit is one of the first areas globalised under this transformation. An exciting new opportunity has therefore emerged for a Vice President (Senior Audit Manager (SAM)) to join MUFG and Internal Audit in London, as we build towards a best in class, global Internal Audit function and the Financial Crimes Audit Team. Reporting into the regional financial crime director in London, the SAM will support risk assessment, annual planning and audit execution, in close collaboration with the MBE Internal Audit team in Amsterdam and other colleagues across the globe.
Key responsibilities include the following:
- Informing the audit universe and the related risk assessment for EMEA branches, assisting the Regional Head of Audit to produce an appropriate Financial Crimes audit plan and maintain relevant documentary evidence that the plan is risk based and provides the entity coverage stipulated within methodology. Ensure that risk assessments are up to date and accurate.
- Utilise subject matter expertise, knowledge of the business and wider industry knowledge to influence the audit plan and the risk assessments applied to the Financial Crimes audit universe. This includes anti-money laundering, sanctions and anti-bribery and corruption. Fraud knowledge is not required but desirable.
- Form part of the regional financial crime leadership team, responsible for the execution of high quality audits and opinions in line with Methodology / IIA/ QA requirements.
- Ensure timely and efficient delivery and execution of audit assignments within agreed timelines / milestones.
- Support effective scheduling of resources to complete team deliverables, which accurately reflects availability and assignment requirements.
- Ensure audit reporting and Management Information (MI) is accurate and complete (e.g. Monthly Audit Reports, Audit Committee reporting etc.)
- Deliver continuous monitoring assignments for a set portfolio across all EMEA branches and supervise the delivery by Audit Managers where applicable (who may not always be located in the same country). Ensure effectiveness of continuous monitoring which underpins audit activity and areas of focus.
- Maintain constructive relationships with senior stakeholders so that audit planning and delivery are achieved smoothly and professionally.
- Deliver audit reports which are insightful, factually based, impactful and robust, and require minimal rewrite by the Head of Audit. May be required to support multiple engagements concurrently. In addition to this you may also work on a wide range of change management audits, linked to your portfolio.
- During the life-cycle of an engagement you will manage the performance of the auditors on that engagement. This will include coaching and developing team members.
- Champion the implementation of methodology best practice throughout the team, leading by example.
- Display very strong appreciation of risk and control in banking.
- Responsible for agreeing draft Management Action Plan for reports and checking for robustness of actions and proposed timelines, prior to approval by relevant Head of Audit. Ownership of follow-up and validation of audit issues raised.
- Assist the Heads of Audit in preparing third party submissions for the Chief Auditor.
- Work collaboratively with all Internal Audit colleagues regionally and globally to ensure that the quality of work produced globally continues to advance. On occasions, you may be required to act as lead on Global Thematic Audits.
- Attend Bank forums as a financial crimes subject matter expert when requested.
- From time to time, may also be required to take a lead role in non-‘BAU’ initiatives e.g. a working group.
This role reports into the Director for Regional Financial Crimes, EMEA.
Special reviews may also be conducted as requested by senior management and incumbents may also be involved in strategic business reviews. Will be responsible for liaising with the risk, front office and compliance functions. Incumbent at this level is fully knowledgeable on the day-to-day activities of a product or process however will require input on more complex issues. This individual will have oversight of a small team of junior staff to ensure all daily responsibilities are completed. Individual at this level has some understanding of the firm's different businesses and the related economics.
- Structure and execute efficient and effective audits to:
- Identify potential risk, including awareness of risks both within span of control as well as enterprise-wide
- Assign and review the work of audit team members for assigned engagements in coordination with Audit Director
- Assess the state of the governance, risk management, and control environment aspects relevant to that risk
- Report results in an effective and timely basis, leading to appropriate remedial action and ongoing management of risk Maintain compliance with audit methodology, while also operating within industry best practices, applicable regulations, and internal and external professional practice expectations. Effectively manage stakeholder relationships to a mutually accountable, productive, respectful, and trusted level Act as a leader and role model and continuously improve self and department.
- Extensive experience of working in an audit function (leading audit assignments) within the wholesale / investment banking sector, or similar ‘Big-4’ experience with relevant industry exposure.
- Experience of Primary Businesses and Products and financial crime. Primary businesses include: Corporate Banking, Investment Banking (Structured Lending, Project Finance, Trade Finance etc), Transaction Banking and Securities.
- Comprehensive understanding of current Financial Crimes rules, regulations, and expectations relevant to the business within region. Solid understanding of risk management frameworks, expected processes, key risks and associated controls
- Excellent skills in relation to internal audit methodology, practices, issue and report writing.
- Experience in Financial Crimes through various capacities (e.g., attorneys, law enforcement, auditing, investigations, consulting, risk management).
- Experience with auditing (3rd line) and testing (2nd line) of Financial Crimes Compliance programs.
- Experience interacting with audit subject matter experts.
- Experience of working in a similar audit function for a major corporate/investment bank.
- Business fluency in English and experience in an international work environment. An understanding of the Dutch language as well as other languages within the region (e.g. German, Polish, Spanish) and culture is helpful. Experience with Japan or the Japanese corporate culture is desirable but not essential.
- Similar assurance/testing experience may be considered at an equivalent financial services firm.
- Good experience working on change initiatives in an audit or advisory capacity
- Experience of auditing or advising on business strategy or strategic processes.
- An understanding of credit related process as it relates to wholesale portfolios will be desirable given it is one of the biggest risks for the bank
SKILLS AND EXPERIENCE
Functional / Technical Competencies:
- A strong understanding of front office risk management and audit within the banking sector, with an in depth understanding of corporate/investment banking and financial crime and/or Compliance.
- Strong subject matter expertise within risk (including IT), financial crime, business operations, processes, products and controls is required. The candidate should understand regulatory requirements and minimum standards as they apply to the banking sector (e.g. JMSLG).
- Strong understanding of projects and change in banking.
- Strong acumen regarding auditing methods and industry practises is preferred.
Education / Qualifications:
- Higher education or equivalent industry experience.
- Financial Crime relevant qualification or working towards completion (e.g. ACAMS, ICA)
- Relevant industry qualifications e.g. CIA, ACCA are desirable but not essential.
- Project Management qualification.
- Excellent communication skills
- Results driven, with a strong sense of accountability
- A proactive, motivated approach.
- The ability to operate with urgency and prioritise work accordingly
- Strong decision making skills, the ability to demonstrate sound judgement
- A structured and logical approach to work
- Strong problem solving skills
- A creative and innovative approach to work
- Excellent interpersonal skills
- The ability to manage large workloads and tight deadlines
- Excellent attention to detail and accuracy
- A calm approach, with the ability to perform well in a pressurised environment
- Strong numerical skills
- Excellent Microsoft Office skills
- A confident approach, with the ability to provide clear direction to your team
- Excellent managerial/leadership experience