Internal Audit - Sanctions & Compliance 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:

IAD staff member that will focus on audit testing. 

Responsibilities:

Include but not limited to:

 

Plan and complete the scheduled audit under direction of the auditor-in-charge (AIC): 

• Execute audit-planning tasks
• Review the audit entity risk assessment
• Perform audits by executing approved audit programs and questionnaires
• Validate audit findings and recommendations
• Prepare and edit summary of audit findings and recommendations
• Complete audit workpapers to document work completed
• Communicate audit findings to the auditee
• Summarize issues in the audit issues database

Evaluate corrective action 

• Evaluate management action plans to ensure that they adequately address the audit issue raised
• Follow-up with the responsible business and compliance managers and their teams to ensure control issues are effectively resolved
• Finalize issue closure and perform any additional validation tasks
• Assist if needed in the execution of other audits (AML, business, operations, technology) that may have sanctions, AML or regulatory compliance related risks

Update the audit strategy and program

• In certain cases, conduct continuous monitoring for applicable areas
• Collect and analyze information from regulators, H.O. and Bank
• Recommend changes to the risk assessment, audit plan and/or audit programs
• Revise, as instructed, the audit work programs timely
• Implements audit enhancements resulting from the quality assurance improvement program

Other

• Recommend improvements for departmental performance
• Attend the training for related topics
• Develops and applies baseline knowledge of applicable banking laws, regulations and guidelines
• Optimizing the use of the audit workflow tool, when available
• Support the AML Team or other IAD teams as needed

Qualifications:

• Bachelor’s degree is required; Master’s degree is preferred
• 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 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 sufficiency of analytical procedures and documentation to support audit standards and bank regulatory expectation

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.