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Audit Director

2 months ago


London, Greater London, United Kingdom Northern Trust Corp. Full time
About the Role

Northern Trust Corp. is seeking a highly skilled and experienced Audit Director to join our Capital Markets, Risk Management and Compliance team in London.

The successful candidate will report to the Capital Markets, Risk Management and Compliance Managing Director and will play a strategic role in the design and execution of the audit universe and related risk-based audit coverage strategy for the Audit Services department.

Key Responsibilities
  • Oversee and manage all audit activities within assigned areas of responsibility.
  • Establish an effective risk-based audit program.
  • Ensure support provided by other audit teams is coordinated and properly covers the associated higher risk areas.
  • Responsible for the audit team's adherence to the Corporation's/Department's Policies and Standards and ensures work is performed within established timeframes.
  • Maintain familiarization and technical expertise with the assigned business unit(s) including organizational structure, personnel, activities and products, new product development, financial performance and risk and problem areas.
  • Responsible for staying current on regulatory rules and changes within the industry.
  • Responsible for the issuance of audit reports for responsible areas to ensure clear, concise, and timely communication of risks and audit issues to Senior and Executive Management.
  • Perform peer reviews of other Audit Team's reports when necessary.
  • Ensure that audit scopes are appropriate and cover key risks as defined by Department Policies and Standards.
  • Participate in senior-level committees and client meetings, along with presenting to the Corporation's Audit and Business Risk Committees as well as the local/regional Audit Committee, Oversight Committee, Legal Entity Boards and Risk Committees.
  • Communicate with regulators, external auditors, and various risk management committees within the Corporation as part of ongoing continuous monitoring which assists in managing the Audit Plan.
  • Interact and partner with Senior and Executive Management to understand the risks within the business, business changes and other significant events that could significantly affect the business and/or the audit plan.
  • Manage and perform special projects as assigned.
  • Participate in meetings with business unit to discuss audit results.
  • Communicate with partners at all levels, developing and presenting recommendations on operations and controls for the business unit.
  • During audit engagements, assign work to auditors, set priorities and monitor activity.
  • Conduct the performance management process for direct reports.
  • Oversee the performance management process and ensure that Audit Managers are identifying training and development needs for their respective audit teams.
  • Assess and determine staffing needs to propose to senior management, makes employment recommendations, handles salary administration, and ensures resources are available to accomplish priorities.
  • Participate in recruiting process for all Northern Trust audit teams.
Requirements
  • Knowledge of auditing in the financial services industry with strong experience of auditing risk culture, operational risk, and compliance risk.
  • Knowledge of the business unit/function that he/she is managing.
  • Strong report writing and workpaper documentation skills.
  • Management, leadership and organizational skills are required to develop periodic goals and to manage and motivate team members towards the goals set.