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 Internal Audit Bank/AML Enterprise team is seeking a Senior Specialist. This team is responsible for execution of audits over the firm's Banking Enterprises and the Corporate-wide Bank Secrecy Act (BSA) / Anti-Money Laundering (AML) and Office of Foreign Asset Control (OFAC) functions. This position will support the team's BSA/AML/OFAC audit responsibilities. BSA/AML/OFAC audits cover areas such as the compliance program, risk assessment, customer identification program (CIP), customer due diligence (CDD)/ enhanced due diligence (EDD), transaction monitoring and suspicious activities reporting (SAR), and OFAC compliance. This team also performs testing to confirm remediation of audit and regulatory issues. The team also shares responsibility for regulatory agency interactions, Board and Executive Management reporting, and general relationship management.
Reporting to a Managing Director in the Internal Audit Bank/AML Enterprise team, the Senior Specialist will have responsibility for assisting in the independent and objective assurance activities 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.What you'll do:
What you have
- Audit Execution: Participate in the planning and execution of internal audit assignments, ensuring work is performed in accordance with IIA standards and IAD policies and procedures. Responsibilities will include: scheduling and participation in audit meetings; participation in scoping discussions; drafting of audit deliverables; design and execution of testing; and completion of work papers. Additionally, assist in the tracking of team operations including audit status, issue status, and budgets.
- Issues Identification: Based on the results of audit testing, identify and draft audit observations for review by the Internal Audit Manager/Senior Manager (and above levels) and subsequent debriefing with key business partners (typically VP-level and below).
- Issue Management and Validation: Conduct validation testing of the audit issue action plans completed by the business.
- Risk Assessment: Under the direct supervision of IAD Management, participate in the annual Risk Assessment process, including scheduling and participation in meetings with partners, and the scoring and documentation of risk ratings.
- Coaching: Provide support, mentoring, and/or feedback to audit team members throughout the audit. Provide assistance with onboarding and ongoing support to new team members.
- Administration/Training: Completion of firm-wide and departmental administration and training requirements.
- Other Initiatives/Special Projects: As needed, assist with special projects related to business operational improvement or internal team needs.
- 3 - 5 years of financial services-related audit experience focused on AML related audit activities with growing responsibility. Bank and/or Trust experience specific to internal audit and/or similar Big 4 Accounting or regulatory experience a plus.
- Demonstrated experience performing internal audits amongst a complex operational and regulatory environment, a plus.
- Ability to work as a member of a project team and cultivate a strong working relationship with external co-sourcing providers and internal lines of businesses.
- Certified Anti-Money Laundering Specialist (CAMS) certification or other relevant certifications will be considered.
- Understanding of risks and internal controls and the ability to evaluate and figure out adequacy and efficiency of controls.
- Strong knowledge of BSA/AML/OFAC regulatory requirements a plus..
- Stays current on industry and regulatory issues and standard methodologies; 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 shown ability to articulate effectively and authoritatively.
- Bachelor's degree required.
- Opportunities for occasional travel.