Internal Audit Executive Jobs (NOW HIRING)

WHAT IS THE OPPORTUNITY?

Reporting directly to the CNB Chief Auditor, the Deputy Chief Audit Executive, for CNB will assist in the oversight of a comprehensive program of internal audit activities and provide independent and objective evaluation of the adequacy and effectiveness of risk management practices, internal control and corporate governance processes for CNB.

This role will support the CNB Chief Auditor, CNB Audit Committee and Chair with effective planning, reporting and issue remediation and also support the RBC US Intermediate Holding Company (IHC) on control matters of importance relating to CNB. They will provide independent and objective evaluation of the adequacy and effectiveness of internal controls, risk management practices, corporate governance processes, and fraud prevention and detection for the platform. In addition, the Deputy Chief Auditor will be accountable for ensuring continuous improvement focused on audit practices and deployment of digital tools as applicable.

The Deputy Chief Audit Executive has the responsibility for developing the risk ratings for the banking and operations auditable entities and developing a detailed audit and execution plan for the portfolio. This leader will promote effective internal control awareness in the respective business lines through positive and collaborative relations with business executives, regular reporting on the business control environment, and structured interactions with key business leaders and President of the banking platform to discuss critical audit outputs, risks assessment, status of issue remediation, provide and solicit feedback.

As it relates to the CNB Credit Risk Review (CRR) team, works with the Head of CNB CRR to provide the CNB Risk Committee with an objective and timely assessment of the overall quality and trends within the CNB credit portfolio; monitors compliance with applicable US laws and regulations; assesses the adequacy of internal credit risk policies and procedures.

WHAT WILL YOU DO?

• Provides independent assurance to key stakeholders on the effectiveness and adequacy of risk management practices, governance processes and the system of internal controls across CNB through core assurance work and continuous risk monitoring.
• Develops and maintains a dynamic and flexible internal audit function that considers the changing environment and emerging risks. Implements adequate audit coverage of activities, allowing the issuance of overall opinions on risk management practices, governance processes, and the system of internal controls to CNB senior management and to the CNB Audit Committee for their review and discussion.
• Leads/manages a team of internal audit professionals for selected CNB audit teams (to be determined as appropriate based on candidate experience). Accountable to ensure there are sufficient resources with appropriate level of subject matter expertise to develop and execute annual audit plan. Manages large, highly complex or strategic projects (thematic audits) that impact CNB and RBC USA as required.
• Ensure the Global Internal Audit Standards’ principles of Ethics and Professionalism are embedded in the Internal Audit culture and function.
• Ensure the internal audit function remains objective and free of all conditions that threaten that objectivity.
• Support the CNB CAE in managing the Internal Audit Function by: Ensuring that audit standards satisfy industry and best practices for efficient and effective audits. Using a risk-based audit approach in determining the nature, extent and frequency of audit engagements included in the CNB audit plan. Ensuring the audit plan utilizes a risk-based cycle approach aligned with the RBC/CNB Risk Pyramid, CNB and RBC (as applicable) Coverage Strategies and is adjusted as required to address changes in CNB activities/risk profile, emerging risks, external environment changes or to conduct special reviews of significant events based on risk and financial importance as well as considers the input of the CNB Audit Committee and CNB senior management. Ensuring the internal audit function collectively possesses or obtains the required knowledge, skills and competencies to fulfill the internal audit mandate, and communicating any resource risks as applicable.
• Audit activities include the application of accounting standards and the evaluation of Internal Controls over Financial Reporting for Disclosure Control purposes.
• Utilizes effective data analytics, automated testing and continuous monitoring processes. Initiates improvements by challenging management and overseeing the development of appropriate management action plans to address identified control deficiencies and other corrective actions to effectively address the issues and root cause. Recommends restricting business activity, if warranted.
• Communicates trends in risk and control issues to key stakeholders and provides advice to the CNB CAE, CNB Senior Management on results of ongoing reviews of business and corporate support activities at CNB and RBC.
• In conjunction with senior IA leadership, effectively manage and monitor all aspects of audit work on an ongoing basis, including any audit work that is outsourced.
• Provides independent and objective assessment of the adequacy and effectiveness of (i) risk management practices and processes, (ii) systems of internal control and (iii) corporate governance processes for all responsible areas of CNB.
• Stays abreast of current developments, including industry and regulatory matters; responsible for compliance of internal audit’s policies, procedures, and processes with applicable regulatory and industry guidance and maintenance to reflect changes to internal and external risk factors, emerging risks, and improvements in industry practices.
• Encourages a management culture of open dialogue on processes, internal controls and potential issues.
• Demonstrates value-added services by: Participating in significant change management initiatives through the evaluation of business and control processes. Providing proactive, constructive, and timely expertise on mitigating business risks. Recommends changes in processes and policies to gain efficiencies where appropriate. Competently providing assurance on the effectiveness of risk management practices, internal control and corporate governance processes through regular audits, thematic reviews and continuous monitoring. Ensuring shareholders’ auditors and regulators to achieve maximum value from our audit work. Participating in Quarterly Assurance Reviews. Participating as an active, non-voting member in critical governance committees within the organization. Providing periodic reporting on changes in audit practices as well as results of benchmarking activities.
• Responsible for successful and timely remediation of assigned risk issues that pertain to Internal Audit to meet effective risk management expectations across CNB: Demonstrates understanding of the full spectrum of regulatory actions, including examinations and other supervisory engagement and processes. Oversees, establishes and leads the execution of effective action plans to satisfactorily resolve outstanding regulatory and risk management issues that pertain to Internal Audit. Oversees the completion of all assigned remediation tasks on time and meet or exceed expected quality levels. Responsible for timely escalation to appropriate parties when tasks or milestones are moving off schedule and identify solutions to remediate.
• Collaborates with partners in remediation activities where needed.
• Manages interactions and relationships with appropriate regulatory bodies and/or examiners, as applicable.
• Oversees all reports by setting clear expectations and objectives targets for all and holding them accountable to the outcomes they produce.
• Seeks inputs from the CAE of RBC, CAE of RBC US, and Senior Management, including Management Committees for CNB, on strategic direction or priorities, provides them with timely and transparent updates on relevant outcomes, risks and issues, and follows appropriate resolution or escalation paths if a misalignment arises.
• As the US manager to the Senior Director, CNB Credit Risk Review: Provides leadership and day-to-day direction, as needed, to the team for every aspect of their work, provides input into decisions related to annual goal setting, performance evaluations and year-end compensation, as well as hiring, succession and termination in partnership with the CNB CAE. Accountable for the inclusion of employee in appropriate management routines.
• Talent Management: Drive a strong focus on talent management to ensure key successors are in place for all critical positions; providing candid leadership coaching, mentoring; and assess and build team capabilities to enhance audit and technical expertise and leadership as well as enable trusted advisor relationships (ie business centric, forward thinking, insightful driven). In addition, invest in the growth of talent across IA.

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications*

• Bachelor's Degree or equivalent
• 15 or more years’ experience in auditing or accounting
• 7 years in a management role.

Additional Qualifications

• The ability to set clear and challenging goals while committing CNB to improved performance, tenacious and accountable in driving results.
• Comfortable with ambiguity and uncertainty; ability to adapt nimbly/lead others through complex situations.
• A proactive thinker who seeks data and input from others to foresee possible threats or unintended circumstances from decisions.
• A leader who is viewed by others as having a high degree of integrity and forethought in their approach to making decisions; the ability to act in a transparent and consistent manner.
• Knowledge of Generally Accepted Auditing Standards
• Knowledge of Accounting and Finance Principles and Practices
• Knowledge of a variety of reporting procedures, regulations and law
• Planning and Time Management
• Effective Communication and Human Relations skills
• Critical Thinking and Analysis
• Tenacity and Ethics
• Technology Proficient (excel, word, Visio, ability to learn new software)