Audit Cross-Function - Vice President

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

This role exists to deliver an independent view and assurance over the control environment in operation in EMEA business entities (SMBC Bank International plc (SMBC BI), SMBC Branches, and other subsidiaries in EMEA Region). It undertakes and manages audits across a range of activities and supports teams of auditors to deliver in-depth testing and review to support audit opinions. It contributes part of the Audit opinion provided to the EMEA Region Management and SMBC Group Audit Committee in Tokyo.

IAD is responsible for the delivery of around 90 internal audit reports per year across the EMEA region. Due to the nature of each business and the audit cycle, the Audit Manager will support several audit assignments which can vary from year to year. On average an Audit Manager would be responsible for the delivery of around 4-5 audits per year, and contribute  to other audit / assurance assignments through delivery of the fieldwork for other Audit Managers. This may include technically complex and highly regulated areas, large assignments, including theme audits across more than one jurisdiction/ business.

The Audit Manager will take the Auditor In Charge (AIC) role for audit assignments and the ownership for remediation activities and issue follow up. The scheduled audit and assurance activities might overlap, so two assignments may be open at the same time, closing one and planning another, an Audit Manager will be able to manage both successfully. While the Audit Manager has no yet direct line reports, they are responsible for delivery of their tasks within the timeframes set out at the planning stage, and if assigned an AIC role, will be responsible for the delivery of the audit assignment, under the direction from a Director/ Executive Director. This will include reviewing the work performed by team members, drafting audit findings and audit reports.

In addition, this role is responsible for managing the delivery and providing support for multiple audit assignments / assurance / project work within General Compliance, Compliance Monitoring and Surveillance, and/or AML/Financial Crime business areas. This role provides expertise on general compliance topics (including conduct risk, market abuse regulation, compliance monitoring and trade surveillance, control room activities) and/or in AML/CFT /Financial Crime to the wider EMEA audit team.

The Audit Manager will report to the Compliance and Financial Crime Audit Partner and will be asked to assist with continuous audit monitoring activities, building stakeholder relationships with Central Compliance Group and/or Financial Crime Group Management, have deep understanding of UK/EMEA Compliance and Conduct Regulations and/or AML/CFT and Financial Crime prevention regulations, subject matter expertise in compliance and/or financial crime prevention/detection business activities and be able to comment on key areas of risk for those business areas.

Business Area

Internal Audit are asked for an independent opinion on the changes and controls implemented by the entities within EMEA Region, this role aims to provide insight and opinion on the key controls in operation in the business areas under review and therefore must have the expertise to provide advice and consultancy services as required.

Position Description

Core Responsibilities:

The Audit Manager is primarily accountable and responsible for the timely delivery of internal audit assignments. This includes:

• Preparation of planning material to ensure that the internal controls covering the key risks are appropriately tested in order to provide reasonable assurance to the Board, Group Management, Entity Management and other stakeholders, including regulators, that an effective internal control environment exists.
• Overseeing the work performed for the audit assignment by other team members.  Providing guidance and support to team members as necessary.
• Directing testing to cover key areas of risk and determine the scope and focus in agreement with the Audit Partner of the review, and share expertise in their area with other team members.
• Preparing draft Audit Findings for review by the Audit Partner / IAD Management.  The Audit Findings must be factually accurate and clearly communicate the findings and recommendations. The Audit Manager must clearly communicate the issues to the Audit Partner / IAD Management and then to business Management including senior stakeholders.  In doing so, the Audit Manager may experience some significant challenge and must therefore be resilient and articulate in their presentation of the issues.
• Preparing the final internal audit report and/or management letter.  The report must clearly communicate areas of positive assurance as well as areas where improvement in internal control environment is required. 
• Undertaking follow-up and closure of internal audit recommendations.  This process requires the validation of action taken by Business Management for the closure of all High and Moderate Priority Findings and the provision of assistant and guidance to Management.

• The Audit Manager might be asked to assist the Audit Partner in maintaining relationships with Senior Management (D, ED level) in a nominated area of responsibility and have insight into business activities and be able to comment on key areas of risk for those business areas.
• The Audit Manager will also be expected to contribute to Audit Department initiatives and work collaboratively across EMEA.

Knowledge, Skills, Experiences and Qualifications:

• Educated to degree standard and holder of a professional qualification, (usually CIA, ACCA, etc.) with strong understanding of the regulatory environment. It would be desirable to hold Compliance / AML / Financial crime qualification (ICA Diploma or equivalent, ACAMs, CISI).
• The ability to clearly communicate to Management both verbally and in writing.
• The role holder needs to have some operational knowledge in some aspects of the Bank to enable them to identify control weaknesses and advice on best practice/ process improvements. A clear understanding of the risk and internal control environment relevant to the business being audited.
• Attention to detail. The confirmation of factual accuracy and a clear understanding of how the facts should be interpreted is essential.
• Proactiveness and resilience, successful track records of completed in a timely manner projects and initiatives.
• Be able to advise the business on possible control solutions.
• Previous internal audit experience is desirable to demonstrate a track record in effective internal audit.

Challenges

• The broad range of business areas subject to internal audit.
• Tight timelines for the delivery of internal audit assignments, and managing conflicting priorities.
• Challenge from IAD Management and  Business Management and the ability to successfully articulate issues identified.
• The need to manage different groups of IAD staff assigned to each audit assignment.

Competencies

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

• Hybrid and flexible working 
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance 
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services  
• Access a wide range of learning and development opportunities and career progression opportunities 
• Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!