JOB SUMMARY

The Audit Director – Rates and FXO Trading supports execution of the Bank’s strategy for the audit coverage of both the Rates and FXO Trading businesses within the Markets business.

In the Markets business, we help our clients access key markets and manage their risk across asset classes including foreign exchange, interest rates and the trading of debt securities and commodities. We also provide securities services such as custody and clearing, where we help clients efficiently administer their investments in multiple markets. In addition, our Global Research team provide widely-read client views on global and local economic and market trends.

At Standard Chartered, we share a universal goal of maximising shareholder returns within a risk-controlled perimeter. For Markets to play our part, we must continuously increase our intensity in all of our client and risk businesses, whilst sustainably delivering value add to clients and shareholders in an effective and efficient manner. We achieve our goal by establishing ourselves as:

• A business with > 20% ROTE
• The leading emerging markets fixed income and currencies, financing and securities services franchise
• A leader in advisory, trading and asset servicing.

We are focused on five key strategic priorities: (1) products, (2) clients, (3) geographies, (4) digital transformation and regulatory compliance, and (5) people.

Group Internal Audit

GIA represents the third line of defence and provides independent assurance of the effectiveness of management’s control of business activities (the first line) and of the control processes maintained by the Risk Framework Owners and Policy Owners (the second line). GIA works with the Group's other control functions, such as Finance, Risk and Compliance, but does not place unqualified reliance on their work.  GIA is an independent function whose primary role is to help the Board and Executive Management to protect the assets, reputation and sustainability of the Group. 

As defined in the Audit Charter, all staff in GIA must exhibit the highest level of professional objectivity in gathering, evaluating and communicating information about the activity or process being examined. They must make a balanced assessment of all the relevant circumstances and not be unduly influenced by their own interests or by others in forming judgments. GIA will adhere to the Definition of Internal Auditing, the Core Principles for the Professional Practice of Internal Auditing, Code of Ethics and the Standards for the Professional Practice of Internal Auditing that are published by the IIA. It is expected that all members of GIA strive to operate as role models for the Group’s valued behaviours. GIA methodology has defined “Habits of a Human Auditor” which are aligned to the Group’s valued behaviours and communicated across the function. 

In addition to the responsibilities defined in the Audit Charter to protect the assets, reputation and sustainability of the group.  The role will lead on the delivery of the GIA Strategy for the portfolio referred to above – focusing on:

•    Customer experience
•    Effective Group change
•    Identifying Group efficiencies and avoiding disruption from audit

In addition to the responsibilities defined in the Audit Charter to protect the assets, reputation and sustainability of the group, the Audit Director: 

•    Leads through example, build the appropriate culture and values, develop valued, engaged and motivated teams, grow our people, strengthen inclusivity, team engagement, wellbeing and psychological safety.
•    Helps grow the Bank, harnessing a strategic mindset and the ability to navigate complex situations and ambiguity
•    Contributes to the broader GIA strategy and to key deliverable as required
•    Be a champion in managing change as Bank and GIA evolves with time
•    Be an advocate of strategy and align and embed it in audit delivery 
•    Manages audit delivery by taking responsibility for high-quality audits, providing insights and impactful commentary on the management of risks and is responsible, where serving as Team Manager, for the finalisation of audit issues and the audit report.
•    Role models the valued behaviours and develop an environment in which positive behaviours are celebrated and poor culture is challenged.
•    Oversees work carried out by the team is executed in an efficient and effective manner, within the given budget and timelines, and in line with GIA methodology standards.
•    Identifies the risks and impact of issues during issue writing, agreeing these issues with management and obtaining quality management action plans to mitigate the risks raised.
•    Leads continuous monitoring of assigned countries / portfolio areas, and to build and maintain engagement with stakeholders. 

•    Is responsible for the implementation and support of department-wide exercises such as annual audit planning, risk assessment and training.
•    Supports GIA audit teams by providing product / country knowledge and expertise for their audits relating to the individual’s area of responsibility.
•    Attends and represents GIA at formal committees and Group meetings, providing meaningful challenge and data-driven insights, as required, e.g., Governance Committees and Country Non-Financial Risk Committees; and
•    Serves as the GIA portfolio / country subject matter expert – proactively engage with peers and stakeholders to maintain, build and share knowledge.  
•    Validates all audit issue action plans agreed during audit fieldwork should be tracked through to completion in accordance with methodology requirements.

RESPONSIBILITIES

Strategy 

Support the Senior Audit Director where required: 
•    Contribute to the GIA risk assessment and design the subsequent risk-based audit plan for the assigned portfolio of Rates and FXO Trading.
•    Audits in the GIA audit plan should address the key risks identified in the detailed risk assessment and in the audit planning process and meet relevant regulatory requirements and expectations that are required to be covered by GIA.
•    Periodically assess whether the audit plan remains relevant throughout the year as the risk profile of the business and entity changes.  Propose changes as appropriate; and
•    Ensure that audit team operates in line with the Audit Charter during engagements, remains independent from management and free from interference.

Audit Delivery
•    Contribute to the development of the overall GIA Audit Plan through Risk Assessment and Top-Down approach based on the inherent risks and knowledge of the risk profiles.
•    Oversee the development, implementation and execution of the agreed audit plan across Markets portfolio. Facilitate collaboration with the GIA team to achieve a holistic approach to the assessment of risks and development of audit plan / strategy.
•    Ensure audit activities in Rates and FXO portfolio are sufficient to meet the requirements of group and local regulators.
•    To act as Team Manager, as necessary, on assigned audit work involving Markets. This will entail managing the Team Leader and Team Members working on the audit to deliver the Audit Planning Memo, Process Risks Controls Matrix, agree issues and action plans with management and submission of draft report to the Senior Audit Director for review.
•    Provide clear guidance, detailed review and supervision of the audit team’s work so that audit deliverables meet quality standards and timelines in line with the GIA methodology.
•    Provide guidance on business and audit technical knowledge and management skills to team leaders and team members to enable them to effectively deliver their assigned audit work. 
•    Provide technical input and challenge on audit work being undertaken within the scope of assigned product or country area of responsibility. This will include working with the audit team to produce outputs of high quality which address the areas of greatest risk.
•    Support adherence to the GIA methodology in all areas of the audit engagement, as well as raising awareness and understanding of the methodology.
•    Demonstrate sound knowledge of both business and technical areas and expert knowledge in the audit process, including the GIA system, so that audit work is carried out to a high standard that meets all methodology and GIA system requirements.

•    Take the lead in presenting the draft report in the GIA report review process (to the tollgate or report approver); and
•    Monitor the implementation and delivery of the agreed issues and action plans for the audits assigned, understanding the key risks arising, provide advice on resolution of issues to auditees and action plan owners and escalate audit findings that remain unresolved.

Business
•    Effectively manage the cost of assigned audits within the allocated budget for audit engagements, and
•    Identify and implement opportunities for cost savings and optimal productivity of assigned audit engagements.    

People & Talent
•    Build a collaborative and inclusive culture that creates psychological safety, treating people with courtesy, respect and promotes wellbeing.
•    Develop and manage audit talent by guiding the audit team’s development & career growth - Build the right skills, capacity and specialism in the right teams and locations.
•    Deliver a robust succession plan.
•    Empower the team to innovate and make decisions to meet business needs; recognise staff that innovate or go the extra mile.
•    Contribute to building a high performing function through frequent check-ins and coaching evidenced by use of Feedback mechanisms.
•    Influence change within the department by highlighting potential enhancements.
•    Identify and successfully complete key internal training for self-development; proactively seek an external lens to support delivery of meaningful audit work.

Risk Management
•    Update the assigned Continuous Risk Assessment on a regular basis to identify changes in risk profiles and document these in a timely manner, proposing changes to the assigned audit plan, as appropriate.
•    Promote early identification and escalation of risks, issues, trends and developments to relevant stakeholders. Be prepared to raise issues/concerns outside the normal audit process.
•    Attend meetings relevant to assigned country / product area (e.g., Management Groups and Committees) provide insights and meaningful challenge, ensuring risks are appropriately identified, discussed and timely remediation plans are put in place.
•    Adopt a proactive approach to risk assessment through stakeholder engagement and monitoring of the external environment to improve audit planning; and
•    Review MI and reports regularly to keep up to date with key trends within the business and audit deliverables.  

Governance
•    Manage the relevant Product or Country stakeholders, as appropriate, and establish good working relationships to help the businesses improve the control environment and keep updated with changes in the business impacting their risk profile.
•    Propose changes to audit plans, so the audit plan remains relevant.
•    Lead by example on how to communicate audit-related matters and resolve any conflict between auditors and auditees during an audit.  Use networks and relationships to build engagement and achieve results.
•    Escalate delays in the execution of audit work, both to auditee management and GIA management, role model this behaviour to Team Engagement Leaders and members.
•    Be able to clearly explain issues identified along with the risks and root causes to GIA and business management, using language designed to be understood by non-experts.

Regulatory & Business Conduct
•    Display exemplary conduct and live by the Group’s Values and Code of Conduct. 
•    Take responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
•    Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
•    Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association (or equivalent).
•    Support GIA and lead the Audit Team to achieve the outcomes set out in the Bank’s Conduct Principles.

Key Stakeholders
•    Designated business stakeholders typically related to assigned portfolios i.e. Rates and FXO.
•    External stakeholders such as lead regulator (PRA, FCA), given the significant global policy and regulatory activity in the Markets space.  Also maintained the networking with peers in the relevant Markets area.
•    GIA Executive Team, GIA Group and Country Leadership teams.

Other Responsibilities
•    Embed Here for good and Group’s brand and values in GIA; 
•    Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures

Our Ideal Candidate

•    15+ years of core audit experience, particularly in Traded, Governance, Operational Risk and Financial Crime Compliance.   
•    Prior experience and knowledge of the Markets Trading products is preferable.
•    Professional audit certification preferred
•    Knowledge across a range of risk types (e.g. credit risk, traded risk, operational risk).

•    Strong and impactful communicator, both within reports and verbally, with ability to clearly articulate controls to be tested and risks identified to both internal and business stakeholders
•    Confident and courageous to raise and escalate ideas or concerns in a professional and timely manner;
•    Proactive, self-directed and able to work with minimum supervision;
•    Exercise professional judgment, objectivity and discretion
•    Ability to build relationships, working within a global team.

Role Specific Technical Competencies

•    Audit Planning
•    Audit Fieldwork
•    Audit Report Writing
•    Continuous Monitoring
•    Internal Audit
•    Manage Risk
•    Methodology & Systems
•    Planning, Coordination & Scheduling
•    Risk Assessment
•    Stakeholder Engagement
•    Data Analytics

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

Recruitment Assessments

Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

Visit our careers website www.sc.com/careers