IAD-Risk Operations Audit Associate - Bank of China Limited, New York Branch

Introduction:

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview:

The incumbent is responsible for supporting audit execution of the Bank’s retail and commercial business activities, risk management programs and management functions. Banking activities include but are not limited to retail banking, commercial lending, trade finance, correspondent banking, treasury and related risk management including market, credit, enterprise, corporate compliance, liquidity, operational etc. with a peer link to BSA/AML/OFAC compliance.

Responsibilities:

Include but not limited to:

Plan and conduct scheduled audit

• Execute audit coverage strategy of business activities, management functions, and attendant risks
• Contribute to US-wide audit risk assessments for business activities and management functions
• Design and ensure implementation of testing of controls of business activities and management functions
• Execute assigned audit programs and review auditor work papers
• Contribute to delivery of audit reports and Internal Audit feedback that is complete, insightful, and timely

Evaluate corrective action

• Evaluate management action plans to ensure they adequately address the audit issue raised
• Direct and/or perform issue tracking and risk-based validation issues
• Coordinate with key stakeholders to identify emerging issues

Update the audit strategy and program

• Conduct continuous monitoring for responsible area
• Collect and analyze information in designated areas from regulators, Head Office and the branches
• Recommend changes to the risk assessment, audit plan and/or audit programs
• Revise, as instructed, the audit work programs timely

Attend training and enhance knowledge

• Recommend improvements for departmental performance
• Attend the training for banking and management topics
• Develop and apply baseline knowledge of applicable banking laws, regulations and guidelines, including risk management guidelines
• Optimize the use of the audit workflow or data analytic tool, when available

Qualifications:

• Bachelor’s degree in Business, Finance, Accounting or related areas is required; Master’s degree is preferred
• Minimum 2 years of work experience in risk management, retail or commercial banking in a large, complex financial institution and/or with big 4 accounting/consulting firms preferably in internal and/or external audit is required
• Computer literate; school or work experience in designing diagnostics to identify anomalous activity
• Ability to effectively present information and respond to questions from managers
• Strong self-management and administrative skills with track record of executing multiple deliverables
• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations
• Ability to write reports, business correspondence, procedures, and manuals
• Experience as a bank examiner, auditor, risk or compliance professional in a regulated environment
• Experience in ensuring documentary sufficiency of analytical procedures to support audit standards and bank regulatory expectations

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

:USD $42,000.00 - USD $90,000.00 /Yr.