Summary

The Lead Auditor conducts audit assignments from planning to reporting. This includes an assessment of the audited activity, the performance of tests, analysis and controls and the issuance of recommendations. He/she is responsible for the consistency and comprehensiveness of the audit deliverables and, under the supervision of a Local Head of Audit, a Regional Supervisor or an Audit Manager, for drafting the debriefing presentation to management and the final report. He/she usually leads a team of several auditors. He/she may also perform himself/herself some controls.

He/she generally, but not exclusively, supervises audit assignments that have a focus on model risks. He/she provides support to other IGE Managers for assignments where model risks expert knowledge and competencies are needed. He/she monitors the proper implementation of recommended corrective actions addressing these risks.

Key Responsibilities

II – Conduct of assignment

The Lead Auditor conducts audit assignments from planning to reporting. This includes the following responsibilities:

-To assess the risks of the audited activities and to validate the related control environment for its design and operating effectiveness

-To review and challenge the processes and controls in view of their respective purpose and mandates as well as the related risks, relying on fact based and documented audit works

-To verify the audited unit’s compliance with internal policies and procedures and the applicable laws and regulations

-To monitor the fieldwork carried out by the team and to adjust the fields of audit to the risks identified,

-To maintain close communication with the Audit Manager / Head of Local Audit/ Regional Supervisor on audit progress following the pre-set timeframe

-To notify immediately the Audit Manager / Regional Supervisor / Head of Local Audit of any major control weaknesses (reputational, regulatory, compliance, etc.) identified during the audit review and comply with any escalation policy in the bank

-To manage and organize interviews, debriefing meetings of conclusions with Management impacted by the audit

-To follow up, review and finalize with Management on response to the draft audit report and prepare for the final audit report publication

-To ensure that audit deliverables are in adherence to the IGE/IGL Methodologies as per the Audit Charter

III – Management of a team during an assignment

-Define objectives and perform end of assignment assessment for the team allocated during an assignment
-Prepare assignment planning and allocate work streams by team member and manage projects/tasks/staff and budget resources efficiently
-Ensure collaborative and productive relationship within the team and a good coordination throughout the International Network and with auditees

Salary Range: $120,000 - $180,000

Essential

• Bachelor’s or Master’s degree in data science, mathematics or statistics
• 4 to 8 years of experience in audit
• Model Auditing experience

Description cont. 

-Contribute to the continuous improvement of the team, for instance by training team members on international sanctions regulation, or on new topics upon request from Audit Manager / Regional Supervisor / Head of Local Audit

III – IGE Continuous Improvement Program / Transversal topics

The Lead Auditor contributes to the continuous improvement of IGE methodologies and processes. As part of his/her responsibilities, he/she can be requested to:

-Contribute to the on-going development of IGE’s knowledge and expertise on model risks, including regulations and guidelines (regulatory watch), auditing standards and best practices; attend industry or CA group events to keep abreast of relevant developments in capital markets and market risk management

-Proactively monitor the evolution of relevant strategies, projects, policies and procedures, changes in organisation, process and/or systems implemented in the CA group and in CACIB to manage and mitigate model risks

-Nurture and disseminate model risks understanding and relevant knowledge among auditors within IGE; post contents into SynerGIA; contribute to the definition of their training programs and, if need be, deliver training sessions.

-Contribute to the creation or update of methodologies and audit processes/guides

-Build and share knowledge (e.g. through contributing to SynerGIA, delivering training or taking part in various Methods and Support workstreams or assignments)

Description cont.

-Update Auditable Items scorecards in liaison with the relevant Audit Manager

-Share any relevant information with the IGE Knowledge communities’ leaders and relevant Audit Partners

-Manage resources and budget of the assignment to achieve the objectives of the audit plan

-Contribute to the preparation of the audit plan, in coordination with the Audit Manager in charge

The Lead Auditor is regularly trained on banking and regulatory matters and must have a sufficient knowledge of the audited area he/she is responsible for. He/she must complete all the mandatory trainings within the defined timelines.

Management and Reporting

Direct reporting line to Local Audit Supervisor
During an assignment, the Lead Auditor also reports to the Audit Manager/ Regional Supervisor or Head of Local Audit in charge of the assignment

Key Internal contacts

Auditees, other control functions
IGL’s Model Team

Key External contacts

Experts on Model risks


Role specific requirements

Lead Auditors must comply with the CACIB Audit Charter, in particular the five fundamental ethical principles (integrity, objectivity, confidentiality, expertise, and transparency) and all other locally applicable regulations.

Before or after an assignment, Lead Auditors shall have no direct operational responsibility or authority over any of the activities under review. 

Essential

·Organization, efficiency, meeting deadlines

·Project management (work organization, time planning, feedback, etc.)

·Verbal and written communication

·Interpersonal skills

·Autonomy and Leadership

·Self-confidence, ability to defend own findings and conclusions, ability to cope with stress

·Accuracy and reliability

·Analytical skills

·Fluent in English

·Knowledge of the principles, practices and techniques of auditing

·Knowledge of the principles, practices and techniques of models

·Demonstrated ability to gather, analyse facts, and prepare and present concise reports

·Knowledge of organization and activities of the Bank,

·Ability to lead a group or work as part of a group to accomplish shared goals

Desirable

·Certification (CFA, FRM, Data Science, CIA)

·Relationship management

·Capacity to cooperate

·Ability to work across disciplines and cultures

·Basic French

·Any specific skills knowledge in using core IT systems of the Bank (understanding of the data production, analysis of the results)