Chief Audit Executive and Head of Audit, Germany and Austria (Director)

Are you looking for a career move that will put you at the heart of a global financial institution?  Then bring your skills and experience to Citi’s Internal Audit team.

By joining Citi you will become part of a global organisation whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Our people make all the difference in our success.

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Citi Internal Audit is a dynamic global function of over 2,500 professionals located across more than 60 countries, covering Citi's global businesses and service to clients and customers through its network in over 100 countries. Through a culture of continuous improvement, Citi IA is focused on maintaining its position as a best-in-class IA function and is committed to investing in people, learning and development, innovation, and methodology programs. The Internal Audit mission is to provide independent, objective, reliable, valued and timely assurance to the Board, senior management and regulators of Citigroup and Citibank (and its subsidiaries), over the effectiveness of culture, ethical conduct, governance, risk management, and controls that mitigate current and evolving risks and to enhance the control environment. Citi operates in over 100 countries and provides consumers, corporations, governments, and institutions with a broad range of financial services and products. Citi strives to create the best outcomes for clients and customers with financial ingenuity that leads to solutions that are simple, creative, and responsive.

Team/Role Overview

The Chief Audit Executive / Head of Audit for the Citigroup Global Markets Europe AG legal entity (CGME) leads Citi’s Internal Audit's (IA) risk-based audit approach for the legal vehicle, responsible for directing and developing a team of five.  Reporting to the Europe Chief Auditor and part of the IA Banking, International & Client (BIC) audit area, this is a senior level management position which is also responsible for the German and Austria Franchise to provide timely, complete, high quality and forward-looking assurance over the governance, risk management and internal control environment framework.

The role will proactively manage IA's relationships with key stakeholders including the Supervisory and Management Board of Directors, senior key stakeholders, regulators, and Internal Audit colleagues.  Work closely with Product and Function IA management in ensuring Citi IA is the leading IA function in the financial services industry.

This role is a ‘Controlled Function’ role as defined by the Central Bank of Ireland (CBI) Reform Act 2010 and Principal Regulations 2011 and amended Regulations 2014 & 2015. 

Critical thinking and executive presentation skills will be important requirements of the role as themes related to risks and issues across the franchise will be identified and presented to key stakeholders, such as senior management, the Audit Committee, regulators and external audit functions.  The incumbent requires a wider ranging, yet detailed knowledge of technology processes, as well as a strong understanding of the fundamental risks associated with a large bank.  The role will entail considerable co-ordination and development of resources to meet the requirements and will therefore also require strong people management and communication skills.

Responsibilities:

• Audit Plan:  Responsible for the coordination and delivery of high-quality, value-add multiple concurrent risk-based audit plans on time and to specification together with the assurance for the legal vehicles in Germany (CGME & CBNAF) and Austria.  Ensuring that the delivery of audit reports are complete, insightful, timely, error free and concise.  Confirms timely delivery of high-quality comprehensive regulatory and internal audit issue validation and where determined appropriate issue validation on other remediation actions.

• Report to the Management and the Supervisory Board on assurance delivered and provide insights.  Responsible for all IA Head of Audit Governance and Oversight requirements related to Germany and Austria, working with the Europe Chief Auditor to maximise the efficiency and effectiveness of IA resources.

• Taking into account emerging and established risks; industry best practises and external frameworks; legal entity and country-level regulatory requirements and an end-to-end view of the risks and controls that cross business functions, ensuring that the IA activity in Germany and Austria is sufficient and relevant to delivering timely assurance

• Stakeholder Engagement: Proactively engage with senior leadership and teams across the Franchise and wider Citi to provide credible challenge and positively influence Citi’s culture, ethical conduct, governance, risk management and control frameworks.

• Develop and maintain strong working relationships with teams both within the Franchise and the IA Banking, International & Client (BIC) team, as well as across IA Product and Functions teams globally.  Leverage the feedback achieved from this to continually improve the definition and risk assessment of the audit universe as well as identify new and optimized ways of auditing the environment to maximize the insight achieved. 

• Advises relevant management and supervisory boards and governance committees of updates on Citi’s IA strategy and other developments; presenting and gaining buy-in to forward looking risk based audit plans, reporting on key IA activities including key risk issues and their management and/or resolution; and providing timely assurance on culture, ethical conduct and governance, risk management and control matters.

• Regulatory Relationship Management: Supports and contributes to managing IA’s regulatory relationships in Germany and Austria resulting in constructive two-way dialogue, trust in the IA function and general reliance being placed on the assurance delivered; appropriately assessing risk when business decisions are made and understanding the significant conducts risks specific to their product or function and individual role in relation to the regulations. 

• Coordinate with external parties to support Citi’s responses for regulatory compliance, validation of regulatory issues and ensuring timelines are met and regulatory intent is addressed. 

• IA Team:  Attract, motivate and develop a highly effective, diverse, talented and trusted team.  Work with other IA Senior Leaders to maximize the efficiency and effectiveness of IA resources, taking into consideration the experience and location of the team, as well as leveraging different audit approaches and best practice.  Identify and develop talent, providing long-term career opportunities both within IA and across other parts of Citi. 

Experience & Qualifications:

• Suitable Internal Audit experience, preferably including the German and/or European market and regulatory environment.  International experience is preferred within highly respected, diversified and complex institutions

• Knowledge of MaRisk and a high degree of familiarity with the financial sector regulations.  Should have a good level of experience of liability issues, the use of different legal vehicles, standard documentation and other legal risks

• Proficient in Risk and Control analysis and audit concepts, governance, the design and operation of risk management and control frameworks in leading international organisations

• Demonstrable product knowledge with a broad experience of the management of regulatory requirements and associated regulatory interaction

• Ability to quickly comprehend the full risk implications of complex issues, escalate to the appropriate level and provide advice and pragmatic commercial solutions

• Strong leadership skills including a track record of identifying and developing world class talent

• Experience in leading and in influencing direct teams together with resources that sit within the other IA products and function areas

• Executive presence and expert in building and maintaining strong open relationships with senior stakeholders, effective negotiation skills, strong communication, presentation and relationship management skills being able to exert influence and providing credible challenge in a constructive manner

• Outstanding performer, open minded, resilient, agile, energetic, self-starter, articulate and empathetic whilst being confident to deliver opinions to bring about positive outcomes

• Bachelor’s degree/University degree; Master’s degree preferred; Holder of a relevant professional qualification e.g. CA, CPA, ACA, CFA, CISA or CIA

What we can offer you

You will work in a large, and leading-edge global audit organization in a challenging business environment, and have the opportunity to work with stakeholders across the Europe Cluster to provide input into key strategic initiatives.

Sounds like Citi has everything you need? Then apply to discover the true extent of your capabilities.

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