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IAG is a worldwide function with 200+ team members and offices across nine countries within American Express. We are committed to growing our audit staff significantly as we continue to expand and enhance the Internal Audit Group. Our assurance and risk professionals have diverse backgrounds including internal controls, consumer compliance, technology, operational risk, financial accounting, data analytics, and banking operations.
Most IAG team members hold at least one professional certification. Our audit teams align to key risk areas and business units to ensure IAG can provide comprehensive and risk-based audit coverage. In addition, IAG has a Professional Practices group responsible for managing audit operations, quality, and standards; regulatory relations; reporting; training and professional development; and key internal capabilities and technologies.
How will you make an impact in this role? Develop/update the Internal Audit coverage strategy to effectively assess the Company's Liquidity Risk Management (LRM) function (and supporting Second Line functions). Create and deliver an annual audit plan for LRM (First and Second Lines) using an integrated auditing approach that considers financial, operational, compliance, and technology risks, among others.
Set direction and provide oversight during the planning, execution, and reporting phases of all audit engagements in the LRM audit portfolio, including special advisory reviews; and ensure ongoing monitoring activities are effective in capturing existing, upcoming, and emerging risks. Lead global audits for LRM, including internal liquidity stress testing (ILST), cashflow forecasting, intraday liquidity risk management, collateral management, contingency funding planning, liquidity risk reporting, liquidity risk limits calibration/monitoring (including LCR, etc). Remain current on the regulatory rules addressing LRM, including (but not limited to) Regulations YY and WW, and changes within the industry that may impact audit coverage/audit plan.
Effectively challenge the First- and Second-line Treasury and Risk Management teams to ensure that the key governance, risk management and internal control processes are adequately designed and operating effectively over time. Includes providing constructive risk-based advice and feedback on opportunities for process improvement; and demonstrating strong judgement and sound decision making. Provide all relevant liquidity risk information for incorporation into the Chief Audit Executive's annual letter to the Board and support Internal Audit's interactions with regulatory examiners to present views on LRM.
Validate management's corrective actions to address audit findings and regulatory gaps. This involves reviewing applicable regulatory requirements, assessing/confirming compliance gaps, and evaluating management's remediation activities to confirm that the regulatory requirements are effectively and sustainably addressed. Develop effective stakeholder relationships and have a strong understanding of the Company's business model, its products, services, and organizational units.
Identify and calibrate the primary sources of risk and design effective audit test plan to assess the control environment. Lead meetings with internal and external stakeholders. Manage a team of audit professionals to execute audit engagements, ongoing monitoring activities and validation of audit and regulatory findings in conformance with professional and department standards and within budgets and deadlines.
Ensure team meets all required skills and competencies to audit according to regulatory expectations. Effectively coach, mentor, and develop less experienced colleagues and co-sourced resources in geographically diverse locations across all aspects of their role, the audit and analytic lifecycle, audit methodology, best practices, and banking concepts and products (including associated risks and controls). Drive business and risk insights through the oversight and growth of audit analytics.
Develop ideas and implement data analytics for the liquidity risk management audit portfolio in support of the department's NextGen initiative. Minimum Qualifications Bachelor's degree in accounting, economics, or finance. 7+ years of relevant work experience with a significant portion in one of the following: (1) 1st LoD Treasury (Liquidity/Capital), (2) 2nd LoD Risk Oversight or (3) Internal Audit at a major financial institution in the U.S.
(i.e., Category I, II or III banking institution under the Tailoring Rules). Subject matter expertise of US liquidity risk regulatory requirements including the Enhanced Prudential Standards (Regulation YY), Reg WW (Liquidity Risk Management Standards), FR 2052a Reporting Instructions, and Recovery and Resolution Planning [165(d)]. Experience of liquidity risk management including, but not limited to internal liquidity stress testing, cashflow forecasting, intraday liquidity risk management, collateral management, contingency funding planning, liquidity risk limits calibration/monitoring (including LCR), FR 2052a reporting, etc.
Skillsets include a strong understanding of: of a bank's Balance Sheet including the portfolio of high-quality liquid assets, loans, deposits, on and off-Balance Sheet commitments, and derivatives, and how these products react during periods of stress. key liquidity risks and how they react during periods of stress. liquidity stress testing to assess the potential impact of stress scenarios to a firm's cash flows, liquidity position, and solvency.
liquidity event management processes for managing liquidity during identified periods of stress along with the processes, roles, responsibilities, and triggers for enacting the contingency funding plan. Identification of sources and uses of funding, understanding a firm's funding patterns, and shifts between pledging of collateral. Experience validating internal controls and deep understanding of risk assessment concepts to assess and challenge the existing controls framework supporting the management of liquidity risks Knowledge and experience in the application of control theory and professional auditing practices including the audit lifecycle.
Strong people skills, with evidence of working collaboratively across an organization, and an ability to coach and mentor junior colleagues and co-sourced resources effectively. Proven ability to lead team members in a way that encourages, develops, and delivers results. Proven ability to work independently, within a team and across teams in a challenging environment to drive business results.
Effective project management skills, the ability to manage competing priorities and employ creative thinking to lead and manage multiple projects. Strong written and verbal communication skills that deliver quality, actionable and impactful feedback to management on potential control issues and solutions to close gaps. Experience with data analytic tools, data visualization, key risk indicators (KRIs), key performance indicators (KPIs), and scorecards/dashboards.
Ability to break-down a complex problem into components, solve them using data analysis, process knowledge and risk/control knowledge, and communicate data analysis, issues and control recommendations with transparency and integrity Preferred Qualifications CFA, CPA, CIA, CRMA certifications preferred. Background in information systems, data analytics or information technology a plus. Experience interacting with U.S.
regulatory examiners is desired but not required. Salary Range: $130,000.00 to $205,000.00 annually + bonus + equity (if applicable) + benefits The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we'll consider your location, experience, and other job-related factors.
We back our colleagues and their loved ones with benefits and programs that support their holistic well-being. That means we prioritize their physical, financial, and mental health through each stage of life. Benefits include: Competitive base salaries Bonus incentives 6% Company Match on retirement savings plan Free financial coaching and financial well-being support Comprehensive medical, dental, vision, life insurance, and disability benefits Flexible working model with hybrid, onsite or virtual arrangements depending on role and business need 20+ weeks paid parental leave for all parents, regardless of gender, offered for pregnancy, adoption or surrogacy Free access to global on-site wellness centers staffed with nurses and doctors (depending on location) Free and confidential counseling support through our Healthy Minds program Career development and training opportunities For a full list of Team Amex benefits, visit our Colleague Benefits Site.
American Express is an equal opportunity employer and makes employment decisions without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status, disability status, age, or any other status protected by law. We back our colleagues with the support they need to thrive, professionally and personally. That's why we have Amex Flex, our enterprise working model that provides greater flexibility to colleagues while ensuring we preserve the important aspects of our unique in-person culture.
Depending on role and business needs, colleagues will either work onsite, in a hybrid model (combination of in-office and virtual days) or fully virtually. US Job Seekers/Employees - Click here to view the "Know Your Rights" poster and the Pay Transparency Policy Statement. If the links do not work, please copy and paste the following URLs in a new browser window: https://www.dol.gov/agencies/ofccp/posters to access the three posters.
Employment eligibility to work with American Express in the U.S. is required as the company will not pursue visa sponsorship for these positions.
