Head Of Internal Audit

Key responsibilities:

1. Manage the Internal Audit (IA) function and coordinate with other departments within the Branch. Be able to:

• Establish policies and procedures for audit activity that meets the

requirements of Global Internal Audit Charter & Policy and other applicable

guidelines of Head Office;

• Establish detailed procedures of internal audit outsourcing arrangements to

cover processes of vendor selection, audit work review, contingency planning

and oversight function;

• Execute a comprehensive risk-based audit program for the evaluation of the

management controls and risk assessments for auditable entity;

• Review completed work papers for a sufficient sample of individual audit

projects performed by outsourcing audit firms and related work papers/

reports performed by in-house internal auditors to ensure overall quality of the

work and reasonableness of conclusion resulting from the audit tests

performed;

• Implement comprehensive internal quality assurance program to conform to

the Global Internal Audit Standards;

• Ensure that appropriate review/follow-up action is taken regarding any internal

control/financial reporting concerns identified in the Regulators’ examinations,

Head Office and external/internal audits;

• Promote proactive engagement with IA Division to enhance audit quality;

• Submit monthly IA activities report and updates to IA Division;

• Report to IA Division in relation to on-site and off-site review/examination

requested by regulatory authorities and external auditors;

• Present and discuss internal audit reports, among others, to IA Division in it’s

regular meeting.

2. Provide assessment and recommendations on the effectiveness of the Branch’s

internal control, risk management and governance process– areas in which

supervisory authorities have a keen interest. Be able to:

• Keep abreast of all aspects of the AML/CFT/OFAC Compliance Program and

applicable regulatory compliance;

• Ensure risk and control is taken into account for major changes of business,

regulations, and the risk management mechanism in the Branch;

• Perform special assignments, investigations and projects as requested by

Branch Management or IA Division.

3. Provide consulting services to the Branch Management on the assessment or

development of internal controls and maintain effective communication with

supervisory authorities. Be able to:

• Establish and develop effective working relationship with Management of

business units who have risk assessment responsibility;

• Liaise with regulatory and supervisory authorities and external auditors in

relation to internal audit function and the results of audits;

• Report to senior management at adequate intervals on audit issues including

planned audit assignments, risk advisory projects and other ad-hoc activities

as requested;

• Represent the IA function in attending all major committees of the Branch and

provide opinions from risk management and internal control point of view;

• Provide comments, upon request, on policies and procedures prepared by

other departments.

4. Apply due care and skills in reasonably prudent way and at competent professional

standards. Be able to:

• Understand changes in laws and regulations pertaining to the business of the

Branch;

• Provide cross training and/or arrange external courses or seminars for audit

staff to broaden their audit skills and understand the Branch’s business;

• Conduct annual performance appraisals of audit staff;

• Prepare annual budget of the IA function.

Qualification Requirements:

• Bachelor’s degree with a major in Accounting, Auditing, Business, Finance and Management. Master’s degree is a plus;

• Extensive audit (internal and/or external) and/or compliance experiences, minimum 8-10 years with at least 3 years as head/team leader level in banking industry (preferable at a foreign-based bank);

• Fluent in English. Chinese is preferred;

• Candidate with active CAMS is preferred. Plus, one or more audit-specific professional certification(s), such as CIA, CPA, CFSA, CISA or CFE.