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Internal Audit Manager - Asset Management

Information About This Job

Job Title: Internal Audit Manager - Asset Management
Location: London
Industry:
Contact Name: Ben Kinley
Contact Email: bkinley@lawsonchase.com
Job Published: 27 days ago

Job Description

Our client is a global investment management firm seeking to hire into its internal audit department.

 

About The Department

Internal Audit, based in Denver and London, is responsible for the internal audit of the firm worldwide.  The department has a headcount of ten, including the Global Head of Internal Audit (located in Denver), and the Global Deputy Head of Internal Audit (located in London).  The Global Head reports to the Chairman of the Audit Committee and administratively to the General Counsel.

 

Overview of the Role

Group Internal Audit’s primary objective is to provide an independent assurance service to the Board, Audit Committee and Executive Management on the adequacy and effectiveness of our group’s governance, risk management and internal control processes, including:

  • The framework for, and effectiveness of, risk management.

  • Whether significant risks are appropriately being identified, reported, managed and controlled to an acceptable level as determined by the Board.

  • Whether financial and operational controls are appropriate and are consistently applied.

  • The effectiveness of internal controls for the safeguarding of assets and for protecting shareholder value.

  • The reliability and integrity of significant financial, managerial and operating information.

  • The establishment and review of risk appetite by the Executive Management and the Board and embedding it within the organisation.

  • The risk and control culture of the organisation.

  • The adequacy of processes to ensure compliance with applicable laws and regulations and standards, policies, procedures and contracts, including the risk of poor customer outcomes.

 

Key Responsibilities

  • Plan and manage audit assignments to evaluate the effectiveness of the controls in operation in the business and information systems and, where appropriate, to make recommendations for their improvement. This includes providing an opinion on the quality of the risk management processes.

  • Provide advice on the implementation of agreed actions.

  • Contribute to an increased awareness in the business of the management of risk and the importance of sound business controls.

  • Develop, train and coach other members of the Group Internal Audit team in the skills required to perform successful audit assignments.

  • Contribute to the development of the internal audit methodology and working practices operated by the department.

  • Contribute to the creation and maintenance of the audit universe.

  • Continuously develop own technical, commercial and personal skills.

  • Promote a positive image of Internal Audit within the business through the quality and perceived the added value of your work.

 

Key Tasks

Audit Planning

This involves identifying the scope of the work for an audit, the objectives to be met, the timescales for completing the audit and the extent of audit testing that will be required. This stage of the audit will result in the production of an agreed ‘Terms of Reference’ or Audit Notification Letter.

 

Audit Fieldwork

This involves the documentation of systems and processes leading to the identification of key controls; undertaking and evaluating the results of audit testing; identifying weaknesses in controls and offering recommendations to management for their improvement.

 

Exit/Closing Meeting

On completion of the fieldwork, an exit/closing meeting will be held with auditee Management to discuss the results of the audit and obtain agreement with them to the actions proposed.

 

Audit Reporting

Following the exit/closing meeting a draft audit report containing findings, conclusions and proposed remediation/corrective actions will be submitted to auditee Management to enable them to confirm their action plans, with timescales for completion, and who will be responsible for completing the actions. Following Internal Audit’s assessment of whether the proposed Management remediation/corrective action plans adequately address the related risks, a final audit report will be issued which incorporates the agreed Management action plans.

 

Monitoring of Outcomes

Contribute to the monitoring of the agreed remediation action plans to ensure that they are on track for successful and timely completion. In some instances, this may involve a short follow-up audit of the area.

Other Functions

Assume additional duties as assigned from time to time by the Global and Deputy Heads of Internal Audit.

Supervisory Responsibilities

  • You will be responsible for the direct supervision of any junior staff working on an audit engagement for which you are responsible.  This will involve allocating work, review of work and coach on the appropriate audit fieldwork audit steps required throughout the engagement.

  • You will also be responsible for providing feedback to the Global and Deputy Heads of Internal Audit on the performance of the staff members that you will directly supervise on the audit engagements for which you are responsible.

Technical Skills and Qualifications

  • Minimum educated to degree level or equivalent

  • Relevant professional qualification e.g. Certified Public Accountant (CPA), Chartered Accountant, Certified Internal Auditor (CIA), Charted Financial Analyst (CFA), etc.

  • Previous experience in a similar audit role within the Financial Services Industry, preferably within Investment Management

  • Experience in auditing Front Office desks (Fund Managers / Dealers or Traders) is preferable but not essential

  • Experience in using Computer Assisted Audit techniques will be a distinct advantage

  • Big 4 experience is desirable but not essential

  • Four years post qualification experience required, some of which should ideally have been in an Asset Management environment.

Ref: | Published: 21th Sep 2017