Audit Supervisor or Audit Manager
Company: Disability Solutions
Location: New York
Posted on: May 3, 2024
Job Description:
Job Description:At Bank of America, we are guided by a common
purpose to help make financial lives better through the power of
every connection. Responsible Growth is how we run our company and
how we deliver for our clients, teammates, communities and
shareholders every day.One of the keys to driving Responsible
Growth is being a great place to work for our teammates around the
world. We're devoted to being a diverse and inclusive workplace for
everyone. We hire individuals with a broad range of backgrounds and
experiences and invest heavily in our teammates and their families
by offering competitive benefits to support their physical,
emotional, and financial well-being.Bank of America believes both
in the importance of working together and offering flexibility to
our employees. We use a multi-faceted approach for flexibility,
depending on the various roles in our organization.Working at Bank
of America will give you a great career with opportunities to
learn, grow and make an impact, along with the power to make a
difference. Join us!Job Description:This job is responsible for
overseeing assigned areas of audit work acting as an
Auditor-in-Charge (AIC), and executing on the audit strategy for
Lines of Business (LOBs). Key responsibilities include driving
risk-based auditing by defining scope and test procedures to
evaluate the control environment in conformance with audit
policies, assessing issues for business impact and recommending
severity ratings, drafting audit reports, and managing business
partner relationships. Job expectations include fostering an
inclusive work environment, and mentoring team members.The team's
coverage is global and covers Counterparty Credit Risk. The
individual will be responsible for coordinating, scoping and
leading team reviews (incl. large, cross-functional audits) to
provide timely and complete assurance over the end-to-end
Counterparty Credit Risk framework. Independently executes assigned
audit activities and supervise audit team for the project
engagement as well as engage in multiple projects simultaneously.
Utilizes sound, seasoned analytical skills and possesses product,
business, and technical expertise to execute assigned
responsibilities. Exercises judgment and critical thinking to
influence business partners. Identifies control trends in assigned
business areas as well as impact to the business and the Bank
overall by applying deep and broad business
acumen.Responsibilities:
- Executes audit strategy for the sound application of risk-based
auditing by defining audit scope and audit programs, and drafting
audit reports leveraging automation and innovative methods in a
timely and high quality manner
- Acts as Auditor-in-Charge (AIC) by overseeing audit testing and
ensuring it is executed in a timely manner and conforms with
quality standards, audit policies, and procedures
- Assesses impacts to business processes, controls, and
strategies to provide recommendations on severity ratings and
escalate broad themes or trends accordingly based on existing
business knowledge
- Exercises intellectual curiosity and judgment to effectively
influence and challenge management to improve the control
environment and drive continuous improvements on audit
- Oversees a team of associates and provides day-to-day mentoring
and guidance and fosters an inclusive work environment
- Maintains business partner relationships, primarily with line
management, to develop business knowledge
- Exercises sound knowledge of product, business, and technical
expertise to effectively challenge management to improve the
control environmentBusiness Acumen:To be successful in this job,
the individual would have the following background:
- Minimum 5 years of Global Markets experience, preferably
covering third line of defense - Audit Counterparty Credit Risk
(CCR) or second line of defense - Counterparty Credit Risk
Management (CCRM) function in an investment bank, a consultancy
firm, or as a regulator.
- Deep knowledge of CCRM concepts such as PE, PFE, EPE, stressed
EPE, MDD. Familiarity with CCR models for calculating these
metrics.
- Good product knowledge in all asset classes (IR, FX, Credit,
Equities, Fixed Income) and covering a wide range of derivative
products.
- Thorough understanding of ISG (SR 11-10) and Basel regulations
on CCR. An understanding of regulations covering market risk would
also be desirable.
- Desire to be detail oriented of the regulations by
understanding the spirit of the rules.
- Excellent written and oral communication skills, ability to
converse with management on all levels.
- Ability to work in a very detailed manner as well as to look
broadly across a population and develop connections and themes
identifying risk and concerns.
- Strong analytical skills. Ability to analyze large amounts of
data and turn it into usable information.
- Ability to successfully communicate to influence management and
lead change in both strategic and tactical initiatives.
- Ability to plan, execute and evaluate audit test plans within a
risk-based audit methodology. Strong project management skills,
proven organizational, coordination and action tracking
skills.
- Self-starter, desire to learn able to teach others, positive
attitude, exhibits flexibility.
- Bachelors degree and/or Advanced degree with relevant
experience.
- Dedication to fostering an inclusive culture and value diverse
perspectives.Skills:
- Analytical Thinking
- Audit Planning
- Internal Audit Review
- Issue Management
- Risk Management
- Business Acumen
- Coaching
- Project Management
- Relationship Building
- Written Communications
- Attention to Detail
- Automation
- Critical Thinking
- Technical DocumentationDesired Skills:
- Audit or risk control risk/controls background in financial
services
- Intermediate Analytical / Automation Skills (Alteryx, Python,
SQL, SAS, Advanced Excel and Access)
- Advanced degree
- CPA preferredThis role can be filled as an Audit Supervisor or
Audit Manager based on skills and experience.Minimum Education
Requirement: Masters Degree in relevant fieldShift:1st shift
(United States of America)Hours Per Week: 40
Keywords: Disability Solutions, East Orange , Audit Supervisor or Audit Manager, Accounting, Auditing , New York, New Jersey
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