Job Description
This role provides the Internal Audit organization with strategic direction in the establishment of risk-based auditing and reporting methodologies, organization design, and effective positioning of the function to ensure provision of independent assurance which is consistent and aligned with Citigroup and Citibank business objectives, and for a sub set of a product line/function entity ensures the timely delivery of high quality, value added assurance and audit reports which meet the requirements of the Boards of Citigroup and Citibank, their affiliates and of Citi’s respective regulators, globally. This role will support the regional Product Control team in delivering Global audits and some local audits focused on the function key activities:
PnL substantiation and estimate
Balance sheet proofing
Independent price verification and Fair value adjustments
Front to back reconciliations
Intercompany reporting
Regulatory reporting
Key Responsibilities
Contributes to strategic direction of Citi’s Internal Audit (IA) function in the establishment of risk based auditing and branch examinations, which include reporting methodologies, organizational design and effective positioning of the function to ensure provision of independent assurance. This is to be consistent and aligned with Citigroup and Citibank business objectives
Uses excellent communication, leadership and strong management skills to influence a wide range of internal audiences including respective product, function, or regional executive management partners and external audiences including regulators and external auditors. Frequently engages in both internal and external negotiations which will have a major impact on the function, and possibly on the organization as a whole
Directs audit activities supporting a sub set of a product line, function, or legal entity at the global or regional level, in accordance with IA standards, Citi policies, and local regulations. Responsible for providing valued and timely independent assurance on the design and operating effectiveness of a sub set of a product, function, or legal entity at a global or regional level
Responsible for the delivery of high quality, value-added multiple concurrent audits on time and to specification
Takes responsibility for the delivery of audit reports and (where appropriate) branch examinations, that are complete, insightful, timely, error free and concise
Ensures timely delivery of high-quality comprehensive regulatory and internal audit issue validation, and where determined appropriate issue validation on other remediation actions, including issues arising from the external auditors, consultants and other parties
Leads the delivery of high impact reports of IA's contributions to executive management, regulators, and Citigroup and Citibank boards' sub-committees, developing trend analyses and thematic reporting
Leads multiple teams of professionals
Identifies recruitment needs. Recruits staff, develops talent, builds effective teams, and manages a budget. Identifies internal talent and fills key positions, attracts talent with required expertise to meet the risk profile of the business, builds deep bench strength and develops appropriate succession plans
Possesses a broad and comprehensive understanding of multiple disciplines (Audit, Risk, Compliance, and Training) and of different Audit standards, policies and local regulations; applies a broad and comprehensive understanding of high risk areas including Consumer or Investment Banking, corporate functions, technology management; project/program management; or supplier management
Delivers learning and development programs and is a recognized leader in training and developing others
Develops approaches to promote knowledge sharing and promulgate management best practices across Internal Audit and both Citibank and Citigroup
Delivers cost effective and efficient management of audit teams and audit engagements
Ensures IA meets/exceeds the requirements and expectations of Citibank’s and Citigroup's regulators
Works closely and collegially within IA and with line management and control functions to ensure efficient and effective provision of independent audit assurance
Collaborates across businesses and functions to improve the identification, quantification, measurement, management, reporting and controls in governance, risk management and internal control environments
Takes responsibility and accountability of audit's coverage and reporting on common high risks areas such KYC, AML, Fraud, Technology, Sanctions, and Consent Orders and other enforcement action compliance
Actively supports and drives the Internal Audit Transformation Program and IA’s and management’s efforts for Citi to have a “Strong” internal audit function and for Citi to have “Strong” control functions
Fully supports and endorses the Quality Assurance function of Internal Audit and promptly accepts and remediates deficiencies found by QA
Ensures the adoption of the appropriate portions of the Citigroup and Citibank Audit Committee Charters and the Internal Audit Charter for applicable legal entities
Proactively advances integrated auditing concepts. Leverages Internal Audit's Centres of Excellence to improve audit processes and coverage
Qualifications
BA/BS or equivalent
Related certifications (CPA, ACA, CFA, CIA, CISA or similar) are a plus
Advanced level experience in a related role with extensive experience in business, functional and people management, with proven abilities in taking responsibility for executing concurrently on a portfolio of high quality deliverables according to strict timetables
Senior level experience in a related role with experience in business, functional and people management, with proven abilities in taking responsibility for executing concurrently on a portfolio of high quality deliverables to stakeholders according to strict timetables
Specific subject matter expertise regarding technology application control disciplines and a solid business understanding of cross-business products and how they generate PnL and risk
Strong understanding of Product control processes and some work experience in the area (on the audit or business side)
Expertise on Valuation of financial instruments and key controls associated with the Independent price verification and fair value adjustments process
Keep abreast of the markets and how that impact the PnL of the businesses
Experience managing teams and supporting personal development of team members
Leads efficient audits by managing budget vs actuals
Effective coordination skills to deliver cross-region audits
Demonstrated experience in managing teams and managing integrated internal audit and assurance delivery within a matrix reporting environment
A self-aware, self-confident individual who has well developed listening skills, and a strong ability to engage a group of accomplished business unit heads by providing proactive advice on a variety of audit matters while carefully balancing the independent requirements of the IA function
Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views
This individual must be an articulate and effective communicator, both orally and in writing, with an energetic, charismatic and approachable style
Strong interpersonal skills for interfacing with all levels of internal and external audit and senior management
Strong leadership skills with a proven track record in managing teams and making a positive impact on the organization
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