Internal Audit Manager, Broker Dealer

    • Westlake, TX

Your Opportunity 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 Broker-Dealer/Asset Management enterprise team is seeking an Internal Audit Manager. The Broker-Dealer/Asset Management team provides internal audit coverage of the business process activities and compliance functions for Schwab's registered domestic and international broker-dealers and registered retail and institutional investment advisors. The team's scope includes audit execution and oversight for Schwab's: (i) client-facing activities supporting retail investors and independent investment advisors on Schwab's platform and their clients; (ii) client product solutions and market expertise; (iii) portfolio advisory services and research; (iv) asset management functions; (v) corporate client services, including stock plan services, retirement plan services, and compliance and employee trade monitoring solutions; and (vi) middle and back office operational functions.

Reporting to a Managing Director of the Broker-Dealer/Asset Management enterprise team, the Internal Audit Manager 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.

What you're good at

  • Audit Execution:
    • Direct and supervise the design and execution of internal audits, ensuring work is performed in accordance with IIA standards and IAD policies and procedures.
    • Participate in an audit team may include internal or co-sourced internal audit professionals.
    • Lead meetings with partners
    • Ensure coordination with integrated and data analytic audit teams
    • Prepare and/or reviewing work papers to ensure clear identification of risks and issues, validating appropriateness of fieldwork testing, and sign-off on audit deliverables.
    • Handle and advance changes in audit timelines, budget, resourcing, and achievements.
    • Assess the quality of management's Risk & Control Self-Assessments; and support the assessment of the operational risk management program that handles the RCSA program.
  • Issues Identification: Review draft issue observations, vet issues with key partners, identify compensating controls, and evaluate the appropriateness of the management action plan prior to finalizing the audit report.
  • Issue Management and Validation: Monitor and review issue validation testing to ensure comprehensive testing and adherence to SLAs.
  • Business and Project Monitoring: Participate in the department's business and project monitoring program execution to identify emerging risks.
  • Risk Assessment: Participate in the annual Risk Assessment process, including the scoring and documentation of risk ratings. Review audit universe updates after the completion of each audit.
  • Coaching: Provide support, mentoring, and feedback to the audit team throughout the audit. Provide assistance with onboarding and ongoing support to new team members.
  • Regulatory: Conduct validation testing on the action plans completed by management to address MRAs. As needed, provide responses to IAD management related to regulatory questions during exams.
  • Administration/Training: Completion of firm-wide and departmental administration and training requirements.
  • Other Initiatives/Special Projects: As needed, assist with special projects related to business operational improvement or department strategic initiatives.

What you have
  • 5-7+ years of financial services-related audit experience with growing responsibility. Broker Dealer/Asset Management experience and/or Big 4 Accounting experience a plus.
  • Demonstrated experience leading internal 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.
  • CPA, CIA, CFE, or CISA strongly preferred. Other applicable financial services and/or risk management certifications considered.
  • Clear understanding of risks and internal controls and the ability to evaluate and figure out 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 shown ability to articulate effectively and authoritatively.
  • Uses relationships and insights to successfully influence others. Builds authentic and trusted relationships to create alignment and support.
  • Bachelor's degree required.
  • Ability to travel 15-20%

At Schwab, “Own Your Tomorrow” embodies everything they do.

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