Business / Operational Audit, VP
Are you a talented professional looking for a challenging and fulfilling opportunity auditing capital markets? We are looking for a versatile and talented business professional interested in progressing their knowledge, skillset, and career through challenging stretch assignments in Corporate Audit. At State Street, our people are our most valuable — and valued — resource. We know that smart, skilled, productive employees are essential to our company’s continued success. As a leading provider of financial services, with operations in 29 countries and more than 30,000 employees worldwide, we work hard to provide an environment where every employee feels engaged, valued, and well equipped to reach their full potential.
State Street’s Corporate Audit Department carefully recruits staff with a combination of backgrounds, including prior audit experience in internal and external audit practices, information technology and/ or specialized areas such as regulatory compliance, securities trading and operations. As a member of State Street Corporation’s Audit Division you will be part of a team where collaboration is encouraged, excellence is rewarded, and diversity is valued. We offer flexible schedules, continuous training, global exposure and multiple opportunities for personal and professional growth.
We are responsible for providing independent, objective assurance and advisory services designed to add value and improve the overall control environment of State Street Corporation and its subsidiaries. Our auditors interact and communicate regularly with executive management and have tremendous insight into all parts of the company’s daily operations.
Global Markets Audit Team
This role is on the Global Markets Audit Team leadership team and is responsible for fully owning and overseeing audit coverage of business process and technology related risks and controls for an assigned business line. The team provides assurance and advisory services to the firm’s Foreign Exchange, Securities Finance, Transition and Currency Management, Broker Dealer, Repo Desk, Electronic Exchanges and other capital markets business lines.
The job is an opportunity to gain deeper global capital markets and knowledge, including related regulatory compliance. Working as part of a collaborative global team, the candidate will have dedicated ownership of their area and contribute to Corporate Audit’s dynamic plan development process, lead and support execution of strategic audit projects and support staff development.
In addition to audit execution, our audit team acts as:
- Independent advisors — advising management on risks related to strategic initiatives, process and systemic changes
- Subject matter specialists and controls experts — sharing knowledge and experience in key risk areas
- Efficiency specialists — identifying inefficiencies in risk management and control design
- Problem-solving partners — looking ahead to help management envision future risks and opportunities.
- This role is responsible for leading internal audit engagements that assess business risk and related application technology in global Capital Markets business activities. A key focus is engagement with business and aligned IT management on strategic implementations and change initiatives. An ideal candidate will have a proven record of audit execution in accordance with IIA standards and industry best practices and hands on experience with trading, application and technology audits. Knowledge of financial industry and specifically capital markets, as well as, related global regulatory expectations is a plus.
- Maintain deep subject matter knowledge related to capital markets activities/ industry, regulatory, and technology risks and efficiently and effectively apply applicable new developments in audit projects
- Provide strategic and tactical leadership over risk assessments, develop audit universe and prepare the annual risk focused audit plan for the assigned Capital Markets business line(s)
- Recommend adjustments to the overall audit plan based on continuous monitoring activities, audit plan progress, and changes in business area risk profiles
- Schedule, oversee and deliver audit assurance and advisory services, including resource management, planning assignments, and providing overall direction to the audit team
- Draft, review, finalize and communicate audit deliverables, including issue matrices, memos and audit reports to senior and executive management
- Develop and maintain influential relationships with senior and executive management through continuous monitoring activities, regular client relationship meetings, participation in working groups and committees of significant business and technology initiatives, and ad-hoc controls advisory activities
- Evidence strong team leadership skills which include creating an environment of trust, soliciting diverse views from team members and supervising, coaching and developing staff through timely meaningful feedback and on the job mentoring through the project lifecycle, including participating in the talent management, staff evaluation, and new hire processes.
- Lead internal investigations and due diligence assessments, follow-up on regulatory findings, and other divisional activities, as needed
- Participate in system and business process development projects with strategic corporate significance and provide input on operational and technological risk issues
- Strengthen internal control disciplines within the corporation by influencing relevant policies, promoting education/ understanding of control concepts
- Continually challenge the department's organization, processes and services to ensure that they remain at or above peer/ industry standards
- Support Corporate Audit change initiatives and department strategy
- Invest in your development by expanding, maintaining and applying current knowledge of audit industry best practices, regulatory expectations, and subject matter (ex. Foreign exchange, securities lending and other capital markets and broader State Street activities)
- Display a high degree of professionalism and leadership. Be able to manage complexity, multi-task and work independently in non-routine situations
Skills and Qualifications:
- A bachelor’s degree in a relevant field such as Accounting, Finance, Information Systems,
- Computer Science and/or Business Administration
- 9+ years of experience with assessment and testing of business and application controls and/ or IT general controls, ideally covering trading platforms or algorithmic trading systems. Including 2+ years leading and supervising audit engagements. Experience in either public accounting or financial services internal audit preferred
- CISA, CPA, CIA or other applicable certification preferred
- Strong analytical and project management skills, ability to prioritize and multi-task in a fast
- paced environment
- Effective communication skills (both written and verbal) and interpersonal skills as well as interest in developing as a leader within Corporate Audit
- A working knowledge of Capital Markets with a preference for foreign exchange, securities lending, or operations and/ or prior experience with relevant regulatory guidance is a plus (ex. MiFID II, Dodd-Frank, MAR, Volker, EMIR, etc.)
- Proven ability to research, interpret and apply regulatory requirements
- While majority of the time you will work from your primary locations, some domestic and international travel may be required to a variety of locations where State Street operates