Director, Internal Audit (PL)

Your opportunity

We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location(s).

At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.

The Internal Audit Department (IAD) of The Charles Schwab Corporation provides independent and objective assessments to figure out whether all significant risks are identified and appropriately reported by management and risk functions to the Board and Executive Management, to evaluate whether risks are adequately controlled, and to challenge Executive Management to improve the efficiency of governance processes, risk management, and internal controls.

The Corporate Enterprise Team is seeking an Internal Audit Director. The Corporate Enterprise Team is responsible for execution of audits over the firm’s supporting enterprises including Marketing, Strategy and Administration, Corporate Affairs, Finance, Human Resources, First Line Risk Management, Corporate Risk Management and Legal Services The team also performs testing to confirm remediation of audit issues and regulatory issues.

Reporting to the Managing Director of the Corporate Enterprise Team, the Internal Audit Director will have responsibility for the independent and objective assurance activity designed to improve the organization’s operations and compliance with key regulations by evaluating and improving the efficiency of risk management, control, and governance processes. This position is also responsible for working with auditing resources provided by an external co-sourcing provider.

This individual will have administrative responsibilities for direct reports. 

What you’ll do:

• Audit Execution:
• Supervisor role in the execution of internal audit assignments for the enterprise.
• Expected to lead all aspects of a portfolio of multiple audits including: review and challenge of testing approach and testing conducted; review, challenge, and sign-off on audit deliverables; support of the audit team in meetings with key partners; and main point of contact with the assigned business unit leaders. Additionally, oversight of audit timelines, budget, resourcing, and achievements.
• Issues Identification: Oversight of issues identification, including: review and challenge of draft issue observations including the issue identified, compensating controls, ratings, and the appropriateness of management action plans prior to finalizing the reports.
• Issue Management and Validation: Oversight for completion and validation status (including SLA adherence) for issues in audit portfolio. Review and challenge completed issue validation testing results.
• Business and Project Monitoring: Oversight for business and project monitoring program execution to identify emerging risks. Participate or lead business and project monitoring meetings including key driver of the agenda/talking points. Provide updates for Monthly IAD Risk Monitoring meetings.
• Risk Assessment: Supervisory role for the annual risk assessment process - play key role in the annual Risk Assessment through all stages. Provide quarterly risk assessment and audit universe updates to IAD management. Review and challenge audit universe updates after the completion of each audit.
• Coaching: Provide support, mentoring, and feedback to the audit team throughout the audit. Key contributor to the formal performance evaluation process. Key contributor in the recruiting, onboarding, and ongoing buddy support to new team members.
• Regulatory: Oversight for completion and validation status (including SLA adherence) for MRAs received by the firm. This includes Review and challenge MRA validation work; evaluate the appropriateness of management’s draft responses to MRAs; perform retrospective reviews for adverse events (as required); Participate in regulatory meetings (i.e., exam, business monitoring, IAD monitoring); and provide responses to regulatory questions during exams.
• Administration/Training: Completion of firm-wide and departmental administration and training requirements.
• Other initiatives or special projects: Voluntary participation in departmental strategic initiatives.

What you have

Required:

• 12+ years of experience specific to internal audit and/or similar Big 4 Accounting or regulatory experience.
• 5-8 years of external audit and financial reporting experience preferred, ideally related to Banking, Broker Dealer or Asset Management firms.
• 5+ years of direct people management
• Demonstrated experience leading audits and their associated team members, amongst a complex operational and regulatory environment
• Ability to lead a project team and cultivate a strong working relationship with external co-sourcing provider, regulators, and internal lines of businesses.
• Strong understanding of prudential regulatory requirements.
• Clear understanding of regulatory expectations in the execution of audit work, issue validation, MRA validation, and the response to regulatory inquiries.
• Strong understanding of risks and internal controls and the ability to evaluate and determine adequacy and efficiency of controls.
• Stays current on industry and regulatory issues and standard methodologies; imparts this knowledge to the team and the auditees.
• Excellent analytical skills, including the ability to anticipate issues and to design appropriate solutions.
• Strong verbal and written communication skills with a demonstrated ability to articulate effectively and authoritatively.
• Uses relationships and insights to successfully influence others. Builds authentic and positive relationships to create alignment and support.
• Bachelor’s degree required.

Preferred:

• CPA, CIA, or CISA strongly preferred. Other relevant certifications will be considered (e.g. CFA, CFE).
• Financial Services experience including Banking, Broker Dealer and Asset Management a plus.