Director, Internal Audit (PL)

The Internal Audit Department (IAD) of The Charles Schwab Corporation provides independent and objective assessments to figure out whether all significant risks are identified and appropriately reported by management and risk functions to the Board and Executive Management, to evaluate whether risks are adequately controlled, and to challenge Executive Management to improve the efficiency of governance processes, risk management, and internal controls.

The Corporate enterprise team is seeking an Internal Audit Director. The Corporate team is responsible for execution of audits over the firm’s corporate and risk management functions. Corporate audits cover areas such as finance, treasury, and accounting. Risk Management audits cover areas such as credit, liquidity and interest rate risk management. The team also performs testing to confirm remediation of audit issues and regulatory issues.

Reporting to the Managing Director of the Corporate enterprise team, the Internal Audit Director will have responsibility for the independent and objective assurance activity designed to improve the organization’s operations and compliance with key regulations by evaluating and improving the efficiency of risk management, control, and governance processes. This position is also responsible for working with auditing resources provided by an external co-sourcing provider. The Director will have administrative responsibilities for direct reports, work on department wide initiatives, and run the larger and/or more complex audits. 

What you’ll do: 

• Risk Assessment: Supervisory role for the annual risk assessment process - play key role in the annual Risk Assessment through all stages. Provide quarterly risk assessment and audit universe updates to IAD management. Review and challenge audit universe updates after the completion of each audit.
•  Audit Execution:
  • Supervisor role in the execution of internal audit assignments with emphasis on capital, liquidity risk, interest rate risk, and balance sheet management (including hedging strategies) for the enterprise.
  • Expected to lead all aspects of a portfolio of multiple audits including scheduling, planning, review and challenge of testing approach and testing conducted; review, challenge, and sign-off on audit deliverables; support of the audit team in meetings with key partners; and main point of contact with the assigned business unit leaders. Additionally, oversight of audit timelines, budget, resourcing, and adherence to internal audit methodology requirements.
• Issues Identification: Oversight of issues identification, including review and challenge of draft issue observations including the issue identified, compensating controls, ratings, and the appropriateness of management action plans prior to finalizing the reports. 
• Issue Management and Validation: Oversight for completion and validation status (including SLA adherence) for issues in audit portfolio. Review and challenge completed issue validation testing results. 
• Business and Project Monitoring: Act as the primary point of contact for senior stakeholders across Treasury and Finance Risk Management for liquidity risk, interest rate risk, and capital adequacy.  Oversight for business and project monitoring program execution to identify emerging risks. Participate or lead business and project monitoring meetings including key driver of the agenda/talking points. Provide updates for Monthly IAD Leadership Risk Monitoring meetings.
• Coaching: Provide support, mentoring, and feedback to the audit team throughout the audit. Introduce key contributions to the formal performance evaluation process; as well as providing key contributions in the recruiting, onboarding, and ongoing support to new team members. 
• Regulatory: Oversight for the completion and validation status (including SLA adherence) for regulatory matters received by the firm. This includes Review and challenge regulatory matter validation work; evaluate the appropriateness of management’s draft responses to regulatory matters; perform retrospective reviews for adverse events (as required); Participate in regulatory meetings (i.e., exam, business monitoring, IAD monitoring); and provide responses to regulatory questions during exams. 
• Administration/Training: Completion of firm-wide and departmental administration and training requirements. 
• Other initiatives or special projects: Voluntary participation in departmental strategic initiativees.

• 12+ years of experience specific to treasury and financial internal audit within the Financial Services industry. Experience including Banking, Broker Dealer and Asset Management a plus.
• Strong understanding of prudential requirements and expected practices for liquidity, interest rate risk and interrelationships with capital. Includes understanding of model risk along with relevant interagency guidance. 
• Clear understanding of regulatory expectations and interagency guidance in the execution of audit work, issue validation, regulatory matter validation, and the response to regulatory inquiries.
• Demonstrated experience leading audits and their associated team members, amongst a complex operational and regulatory environment.
• Ability to lead a project team and cultivate a strong working relationship with the internal business areas and risk, external co-sourcing provider, regulators, and other business stakeholders.  Proven ability to influence across a highly matrixed environment including IT teams, business partners and peer audit teams.
• Strong understanding of risks and internal controls and the ability to evaluate and determine adequacy and efficiency of controls.
• Stays current on internal audit standards, regulatory expectations, industry practices and  imparts this knowledge to the team and the auditees.
• Excellent analytical skills, including the ability to anticipate issues and to design appropriate solutions.
• Strong verbal and written communication skills with a demonstrated ability to articulate effectively and authoritatively.
• Uses relationships and insights to successfully influence others. Builds authentic and positive relationships to create alignment and support.
• CFA, FRM, CPA, CIA, or CISA strongly preferred. 
• Bachelor’s degree required.
• Ability to travel 15-20%