Audit Consultant - Audit Plan and updates the Risk Assessment Database - 27489
Job Type: Contract
Positions to fill: 1
Start Date: Oct 17, 2022
Job End Date: Jan 31, 2024
Pay Rate: Hourly: Negotiable
Job ID: 123422
Location: Toronto
Audit Consultant
Location Address: Hybrid - 1-2 days per week in office– 44 King Street W – 16th floor
Contract Duration: 16 months
- Business group: GBM Audit - The Audit Department is the 3rd Line of Defense and plays a key role in the internal control system of the Bank. Its mandate is to provide independent and objective assurance over the design and effectiveness of internal controls to mitigate risks and to provide advisory services designed to improve the Bank's operations.
- Project: The incumbent will be working directly with the Director, Audit - GBM and will participate to plan, execute and report of audits to provide independent, objective risk assessment of the effectiveness of Global Banking and Markets (GBM) within the overall Regulatory Compliance Management and Operational Risk Management Framework.
The Manager will work with the Director, Audit to assess the design and operational effectiveness of internal controls, adherence to regulatory requirements and Bank policies. The incumbent may act as an Officer-in-Charge (OIC) on smaller audit engagements and will be responsible for planning, execution, and reporting of assigned audits in accordance with department standards. In addition, the Manager will support the team in determining the overall audit plan and strategy over the coverage.
Responsibilities:
o Executes audit engagements as per the Audit Plan and updates the Risk Assessment Database as required
o Develops and execute audit programs for adequate and consistent approach
o Plans and executes test of controls activities using a risk-based approach within the scope of audit to drive conclusions
o Identifies control weaknesses including underlying root cause analysis and impact assessment. Assess the adequacy and appropriateness of management action plans to address findings
o Writes high quality audit reports within established timelines
o Documents and track Audit findings in the Audit Issues Tracking Database
o Communicates with stakeholders including appropriate handling of conflicts and issue resolution.
o Coordinates work performed on behalf of the external auditors as assigned.
o Develops tactical strategies for increasing the use of data analytics to drive effective annual planning / risk assessment, and engagement / project execution.
• Works independently within the mandate of the Department, approved annual audit plan and with periodic consultation from the Director and Senior Manager.
• Escalates issues impacting deadlines, risk, and material error.
• Identifies changes to the scope/extent of the audit based on initial research/audit findings and seeks input from the Director and Senior Manager.
Must Have Skills:
• 5+ years’ experience in Internal Audit, Capital Markets, 1st & 2nd Line Testing, Regulatory body or related consulting experience
• 5+ years of experience - Intermediate user of Excel to analyze large transaction data for independent testing and validation
Nice-To-Have Skills:
- Internal or external audit background. Accounting designations / technical / professional qualifications (CPA, CFA, CIM etc.) will be an asset.
- Knowledge of audit processes and methodologies
- Working knowledge of Capital Markets Products, Regulations including Compliance framework, structure, programs, and systems
Location Address: Hybrid - 1-2 days per week in office– 44 King Street W – 16th floor
Contract Duration: 16 months
- Business group: GBM Audit - The Audit Department is the 3rd Line of Defense and plays a key role in the internal control system of the Bank. Its mandate is to provide independent and objective assurance over the design and effectiveness of internal controls to mitigate risks and to provide advisory services designed to improve the Bank's operations.
- Project: The incumbent will be working directly with the Director, Audit - GBM and will participate to plan, execute and report of audits to provide independent, objective risk assessment of the effectiveness of Global Banking and Markets (GBM) within the overall Regulatory Compliance Management and Operational Risk Management Framework.
The Manager will work with the Director, Audit to assess the design and operational effectiveness of internal controls, adherence to regulatory requirements and Bank policies. The incumbent may act as an Officer-in-Charge (OIC) on smaller audit engagements and will be responsible for planning, execution, and reporting of assigned audits in accordance with department standards. In addition, the Manager will support the team in determining the overall audit plan and strategy over the coverage.
Responsibilities:
o Executes audit engagements as per the Audit Plan and updates the Risk Assessment Database as required
o Develops and execute audit programs for adequate and consistent approach
o Plans and executes test of controls activities using a risk-based approach within the scope of audit to drive conclusions
o Identifies control weaknesses including underlying root cause analysis and impact assessment. Assess the adequacy and appropriateness of management action plans to address findings
o Writes high quality audit reports within established timelines
o Documents and track Audit findings in the Audit Issues Tracking Database
o Communicates with stakeholders including appropriate handling of conflicts and issue resolution.
o Coordinates work performed on behalf of the external auditors as assigned.
o Develops tactical strategies for increasing the use of data analytics to drive effective annual planning / risk assessment, and engagement / project execution.
• Works independently within the mandate of the Department, approved annual audit plan and with periodic consultation from the Director and Senior Manager.
• Escalates issues impacting deadlines, risk, and material error.
• Identifies changes to the scope/extent of the audit based on initial research/audit findings and seeks input from the Director and Senior Manager.
Must Have Skills:
• 5+ years’ experience in Internal Audit, Capital Markets, 1st & 2nd Line Testing, Regulatory body or related consulting experience
• 5+ years of experience - Intermediate user of Excel to analyze large transaction data for independent testing and validation
Nice-To-Have Skills:
- Internal or external audit background. Accounting designations / technical / professional qualifications (CPA, CFA, CIM etc.) will be an asset.
- Knowledge of audit processes and methodologies
- Working knowledge of Capital Markets Products, Regulations including Compliance framework, structure, programs, and systems
