Assistant Vice President, Manager Operations and Transaction banking Audit

MUFG Americas; London; On-site; GBP 60,000 - 100,000; Full time

Job description

Assistant Vice President, Manager Operations and Transaction banking Audit

Pay Competitive

Location London/England

Employment type Full-Time

Job Description

Req#: 10060290-WD

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 7th largest financial group in the world. Across the globe, we’re 160,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

MUFG (Mitsubishi UFJ Financial Group) is one of the world's leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with around 2,300 offices in over 50 countries including the Americas, Europe, the Middle East and Africa, Asia and Oceania, and East Asia. The group has over 150,000 employees, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

As one of the largest financial groups globally with a vision to be the world's most trusted, we want to attract, nurture and retain the most talented individuals in the market. The size and range of MUFG's global business creates opportunities for our employees to stretch themselves and reap the rewards. Behaving with integrity and responsibility, underpinned by a desire to build a culture which is fair, transparent, and honest, drives everything that we do. We aim to be the financial partner of choice for our clients, whatever their requirements, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

NUMBER OF DIRECT REPORTS

0

MAIN PURPOSE OF THE ROLE

EMEA Internal Audit Office (EIAO), as the Bank’s third Line of Defence, and in accordance with the Global Institute of Internal Auditors (IIA) International Standards (IIA Standards), provides independent assurance to the Board and Executive Management on the quality and effectiveness of governance, risk management and internal controls to monitor manage and mitigate key risks to achieving the Bank’s objectives.

KEY RESPONSIBILITIES

The main purpose of the role is to provide execution and delivery of audit engagements for the Operations & Transaction Banking (including Trade Finance) portfolio. This includes working within audit teams on the scoping, planning and delivery, and reporting of audit engagements, occasionally acting as audit lead. Delivery and execution of all audit engagements must adhere to audit methodology and standards and include formal sign-offs of key documents and processes within an audit file.
The role-holder will be responsible for execution and delivery of audit planning, execution, and reporting for all Operations & Transaction Banking audits under the oversight of the Director for Operations and Transaction Banking Audit. The portfolio covers the Operations functions that support both the Corporate, Investment and Transaction Banking business and the Global Markets Securities business. The portfolio also covers the Transaction Banking (including Trade Finance) business.
The role-holder will be tasked with supporting the Director, Operations & Transaction Banking Audit, to provide appropriate, adequate, and high quality assurance over the portfolio audits.
The role-holder will be required to develop and manage relationships, working closely with other EIA Audit Managers and the broader team and business stakeholders. The role-holder will be required to operate effectively within the wider internal audit team, to work on the efficient scoping, planning, fieldwork, and delivery of assigned audit engagements (including integrated audits) to ensure the appropriate key risks and related key controls are covered adequately and effectively, and to follow-up on issues raised through to their closure.
Key responsibilities:
In this role, the successful candidate will be responsible for:

1. People:
   • EIA AVPs will be required to influence and negotiate with counterparts across EIA, and with business stakeholders, to execute audit assurance.
   • EIA AVPs will be required to supervise more junior team members, encouraging, supporting, and coaching them where necessary.
   • As a AVP, the role holder will be required to act as role-model to more junior team members and support function-wide initiatives.
   • EIA AVPs are occasionally expected to play a supervisory and audit lead role in audit engagement and audit team meetings. They are always expected to be proactive in identifying and sharing issues openly in the department and proposing solutions for managing them.
2. Planning:
   • EIA AVPs will support Directors in managing their sections of the risk universe and risk assessment by helping monitoring and maintaining areas of the audit universe and internal audit risk assessment. Help and contribute to ensure that risk assessments are kept up to date and accurate, including highlighting key risk and issues. Assist the Director to deliver continuous monitoring to underpin areas of audit activity and focus.
   • EIA AVPs will also develop and utilise their subject matter expertise, knowledge of the business, and wider industry knowledge to influence the audit plan and the risk assessments applied to the portfolio considering all applicable risks (including enterprise risk and operational/non-financial risks) for the audit universe.
   • Will help and contribute to establish and maintain strategy and approach papers for entities and risks within the portfolio, as directed.
   • EIA AVPs help and contribute to opportunities to improve and support thematic risk coverage (within their specialist and portfolio areas).
3. Product:
   • EIA AVPs are responsible to ensure timely and efficient delivery and execution of their allocated audit work and occasionally end-to-end audit engagements within timelines and budgets, always against agreed project and reporting milestones.
   • Able to manage personal delivery across a portfolio of audit engagements, demonstrating appropriate coverage of key portfolio risks.
   • Ensure high quality standard of work in line with Methodology and QA standards.
   • Champion the implementation of methodology best practice through audit engagements, leading by example.
   • Display and develop strong appreciation of risk management and internal control in banking.
   • Deliver audit findings which are insightful, factually based, impactful and robust, and require minimal rewrite by the Director, Internal Audit, including proposed recommendations and management actions.
   • When acting as audit lead, responsible for agreeing draft Management Action Plan for reports and checking for robustness of actions and proposed timelines, prior to approval by the Director, Internal Audit, and take ownership of the follow-up and validation of audit issues raised through to closure.
   • Contribute to execution of continuous monitoring assignments, supporting Director, Internal Audit.
   • Ensure audit reporting and MI is accurate and complete (e.g. Monthly Control Reports, Audit Committee reporting etc.).
4. Position:
   • EIA AVPs will contribute as a representative for the Department when performing portfolio responsibilities.
   • EIA AVPs may be required to attend Bank forums within the portfolio when requested.
   • EIA AVPs will maintain constructive relationships with stakeholders so that audit planning and delivery are achieved smoothly, helpfully, and professionally.
5. Professional Practices:
   • EIA AVPS will work collaboratively with all Internal Audit colleagues regionally and globally to ensure that the quality of work produced globally continues to advance. On occasions, be required to work on Global Thematic Audits.
   • Work closely with the portfolio Director to ensure departmental and portfolio level objectives are achieved.
   • Travel across EMEA may be required (up to 10%).

WORK EXPERIENCE

Essential:
• Experience working in Operations, and/or Transaction Banking, and/or Trade Finance internal audit, including supervising and possibly managing audit teams.
• Experience working in leading financial services firms and/or banking/trading institutions.
Preferred:
• Experience of working in a similar sized audit function for a major corporate/investment bank.
• Experience of transaction banking and trade finance audit.
• Experience of auditing key processes run by Operations functions in a corporate or investment bank.
• Experience working on change initiatives in an audit or advisory capacity.
• Experience of auditing or advising on business strategy or strategic processes.
• Knowledge of how to use data analytics to drive continuous risk monitoring and perform audits.
• Understanding of and experience in providing assurance over compliance with the regulatory requirements relating to corporate & investment banking.
• Experience gained in the relevant first or second line of defence business or risk functions.

• A calm approach, with the ability to perform well in a pressurized environment.
• Strong numerical skills.
• Excellent Microsoft Office skills.
• Excellent managerial experience.
• Appropriately applies professional scepticism.
• Able to navigate complexity.
• Ability and desire to motivate and energize self and others.
• Willing and able to invest in building relationships and deliver results.
• Enthusiasm to implement and embed an audit approach for Operations & Transaction Banking.
• Expected to be resilient and determined, to see assignments through to completion and issues resolved effectively.
• Strives for excellence.

SKILLS AND EXPERIENCE

Functional / Technical Competencies:
Essential:
• Excellent subject matter expertise within Operations and/or Transaction Banking (including Trade Finance) activities, processes, products, technology and controls is required.
• The person should have a strong understanding of key governance, strategy, risk and management processes, internal control, and internal audit within the banking sector.
• Higher education or equivalent industry experience within Audit.
• A good understanding of regulatory requirements and minimum standards as they apply to MUFG’s key activities with a particular focus on Operations & Transaction Banking (including Trade Finance) related requirements.
• Good acumen regarding auditing methodology and industry practices. A strong understanding of financial and non-financial risk management within banking.
• A good knowledge of expected internal control frameworks to support key business activities such as significant business process change, regulatory change, introduction of new products and services, outsourcing decisions and / or acquisitions/divestments.
Preferred:
• Some good subject matter expertise in Operations and Operations control, Transaction Banking business lines and relevant product level processes, risks, and controls.

Education / Qualifications:
Preferred:
• Strong university degree.
• Industry qualification e.g. ACA, ACCA.
• Additional relevant industry qualifications e.g. CIA, ACT, CF, ICA.
• Project Management qualification.
Bachelor’s degree and relevant professional qualifications are preferred. Alternatively candidates with exceptional experience and professional qualifications may be considered if they have no relevant educational qualifications.

PERSONAL REQUIREMENTS

• Excellent communication skills.
• Results driven, with a strong sense of accountability.
• A proactive, motivated approach.
• The ability to operate with urgency and prioritize work accordingly.
• Strong decision making skills, the ability to demonstrate sound judgement.
• A structured and logical approach to work.
• Strong problem solving skills.
• A creative and innovative approach to work.
• Excellent interpersonal skills.
• The ability to manage large workloads and tight deadlines.
• Excellent attention to detail and accuracy.

PERFORMANCE AND DUTIES

The role holder will be assessed in accordance with their employing entity’s performance framework and process with relevant input obtained from the dual hatting entity as relevant. As duties and responsibilities change, the job description will be reviewed and emended in consultation with the role holder. The role holder will carry out other duties as are within the scope, spirit and purpose of the role as requested.

MANAGING CONFLICTS OF INTEREST

The role holder will have responsibilities for both MUFG Bank and MUFG Securities EMEA plc.
• The role holder will be required to perform their duties and responsibilities on an entity neutral basis, without favour.
• The role holder is required to follow regulatory requirements applicable to ensure each business is appropriately supported and to maintain the legal entity integrity of each of MUFG Bank and MUS.
• Working terms are dictated by functional mandates, the terms of the Dual-Hat Arrangement Agreement in place between MUFG Bank and MUFG Securities EMEA plc and any other relevant agreements entered into between MUFG Bank and MUFG Securities EMEA plc.
• The role holder will have responsibility for identifying and resolving where there may be a difference or conflict in needs between MUFG Bank and MUFG Securities EMEA plc, escalating to their manager where required.

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.