GENERAL SUMMARYThe VP, Sr. Manager, Professional Practices Audit reports directly to the SVP, Chief Audit Executive. Internal Audit Professional Practices is responsible for: managing professional practices; coordinating work planning activities; expanding and supporting the use of technology and data analytics; monitoring and reporting the implementation of the work plan; administering the Audit system; and coordinating training and professional development activities.
DIRECT REPORTS1-2 Direct Reports
ESSENTIAL FUNCTIONS- Responsible for the implementation and development of leading practices, strategy, and methodology. This includes proposing improvements and integrating audit professional practices. Participating in Bank wide meetings and working groups to support initiatives. Providing or assisting in methodology / audit platform training. Producing sophisticated reporting on audit issues and KPIs to senior management and committees.
- Management of professional practices:
- Serves as a thought leader on the evolving role of internal audit and keeps abreast of innovations, developments, and best practices in internal auditing to facilitate continuous learning and improvements in the Internal Audit Section. Includes research and draft standard operating procedures and guidance to ensure compliance with the IIA International Standards for the Professional Practice of Internal Auditing coordinating, documenting, and communicating changes in policies, procedures, guidance, methodologies, and approaches, etc.
- Administers and monitors the Internal Audit Section's Quality Assurance and Improvement Program (QAIP) - making sure the Section performs its work in accordance with IIA International Standards for the Professional Practice of Internal Auditing and best practice - planning and coordinating independent internal and external quality assurance reviews - advising the CAE on actions to further improve the management and conduct of internal audit services - assisting in editing and the quality assurance review of internal audit outputs, as needed, to ensure consistent conformance with QAIP requirements and good practices.
- Coordinates the External Quality Assurance reviews.
- Coordination of work planning activities:
- Optimize the efficiency and effectiveness of audit processes. Advise and support the CAE and the Internal Audit Management Team in scaling up assurance and advisory services in line with the evolving risk profile of the organization and expectations of stakeholders with an emphasis on rapid risk identification and mitigation and reducing any assurance gap.
- Develop and maintain the audit universe - proposing strategies and methodologies for risk-based audit work planning - coordinating audit work planning activities - documenting, communicating, and ensuring broad acceptance of the work plan - ongoing and dynamic enterprise risk monitoring and proposing reprioritization of internal audit services - maintaining and updating the audit work plan as appropriate.
- Serve as focal point and primary administrator of the audit management software. This includes leading every effort such as user requirement definition, acquisition, configuration, and liaison with the IT, IS and vendors, training and supporting end-users.
Partner with Internal Audit Management Team to identify opportunities to utilize data analytics and automation in methodology and reporting processes.
Expand and support the use of technology and data analytics in risk-based work planning and engagement-level planning, execution, and reporting.
- Monitor and report the implementation of work plan:
- Monitor progress of assurance and advisory engagements.
- Prepare report on the implementation of the internal audit work plan - coordinating/drafting the Internal Audit Section's input to Executive Board, and the Audit Committee.
- Management Information/ Performance Measurement: develop and generate exception-based management reporting, and KPIs against key department targets - plans, projects, assignments.
- Prepare summary issue reports on common and cross cutting issues identified by assurance, advisory and investigation activities - preparing advisory communications on issues of significance and results of audit activities.
- Manage the issuance and disclosure of internal audit reports - coordinating managements responses and any questions from management, Risk Advisory Committee, BOD, external auditors, and regulators.
- Prepare Audit Committee materials.
- Regulatory Liaison: coordinate and communicate the department's activities with key regulators including preparation/delivery of material required for examinations.
- Training and professional development program:
- Administer and monitor the IA Departments training and professional development program.
- Coordinate the identification of skill gaps in relations to the IIA competency framework competencies.
- Develop a comprehensive training plan medium/long-term training plan based on training needs identified by staff and their managers - monitoring and reporting on implementation of training plan.
- Partner with bank management on more complex assignments to implement enterprise-wide activities by having a high-level of understanding of the business strategies; being very knowledgeable of the organization, operations, policies, and procedures, including the organizational hierarchy and Representing Audit on more complex and/or critical bank committees, projects, or tasks forums.
- Carry out other tasks as may be assigned by the CAE.
QUALIFICATIONSEducation:
- Advanced university degree (Master's degree or equivalent) preferably in business administration, finance, accounting or a related field. (A first level university degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced university degree.)
- Certification as a Certified International Auditor (CIA), Certified Public Accountant (CPA), Chartered Accountant (CA), Certified Information Systems Auditor (CISA) or equivalent is desirable.
Experience:
- At least 3-5 years of professional practices experience and/or 7+ years of experience in conducting /managing audit or control functions will be considered.
- Extensive knowledge and experience in developing risk-based audit methodologies, risk assessments, annual planning, risk and control, quality assurance practices.
- Proven track record in project management and coordination / integration efforts across multiple audit groups.
Skills:
- Excellent communication - presentation and writing ability: communications, trainings, proposals, methodologies, and policies.
- Solid knowledge of the audit and banking /financial industry and its associated risks.
OTHER DETAILS$180K - $185K / year
Pay determined based on job-related knowledge, skills, experience, and location.
This position may be eligible for a discretionary bonus.
Cathay Bank offers its
full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).
