Assistant Vice President, Multi-Franchise Auditor, Internal Audit Department

Sumitomo Mitsui Banking Corporation

  • Singapore
  • Permanent
  • Full-time
  • 2 months ago
The Internal Audit Department at SMBC is responsible for examining the overall the internal control system, governance, risk management frameworks, operations, and compliance with laws and regulations are effective and efficient. The Internal Audit Department, Asia Pacific Division (IADAP), based in Singapore, is responsible for auditing SMBC units and activities in the Asia Pacific region.Due to an expanded mandate to cover additional group companies and entities acquired under the Multi-Franchise Strategy - owned either directly by Sumitomo Mitsui Banking Corporation (SMBC) or by its parent holding company, Sumitomo Mitsui Financial Group (SMFG), IADAP requires more staff to maintain risk oversight and align 3rd line activities across SMFG/ SMBC diverse operations in banking, multi-financing, securities, asset management etc, that reflect the group's broad strategic interests and operational footprint.As a member of Internal Audit Department, Asia Pacific (IADAP), your role is to support IADAP Management for effective oversight of internal audit activities and risk management for the group companies of SMFG/SMBC covered by IADAP. You will collaborate with internal audit counterparts and senior leadership to review and monitor the internal audit teams of group companies, ensuring they operate within SMFG/SMBC's framework, methodologies, and quality standards. Your responsibilities also include supporting risk-based supervision, enhancing audit collaboration across entities, and promoting knowledge sharing to enhance control, compliance, and risk management throughout the organization.Key Responsibilities
  • Act as a central point of contact for group companies on audit-related matters, coordinate pre-consultations / approvals by IADAP for appointment of internal audit key personnel, updates to audit charters, policies, audit methodologies, and ensuring timely reporting and escalation of significant issues to senior management.
  • Reviews risk assessment and annual audit plans of group companies to verify alignment with the SMFG/SMBC risk and audit standards. Ensure high-risk areas across the group receive timely and adequate audit attention, particularly in response to regulatory or business environment changes.
  • Oversee quality assurance activities for local audit functions, including guidance on development and implementation of corrective action plans for external quality assurance findings where necessary.
  • Provide guidance and training to group company auditors on the SMBC's audit methodology, risk assessment processes. Provide advisory and direct oversight for group companies without an internal audit function.
  • Maybe require to conduct or participate in joint audits for controlled and non-controlled entities as per IADAP framework requirements, explore opportunity for collaboration among internal audit teams across entities. Promote knowledge sharing, consistent understanding and application of audit best practices across entities.
  • Contribute to the development of strategic initiatives for internal audit within the group, supporting innovation in audit processes and technology adoption.
  • Engage and coordinate in IADAP periodic meetings with local audit management, local senior management. Audit Committees. Maintain up-to-date knowledge of regulatory requirements impacting the bank and non-bank group companies.
  • Monitor regulatory compliance reports and track remediation of issues identified by external or regulatory audits.
  • Prepare and present regular audit oversight reports to senior management / stakeholders, summarizing audit coverage, key findings, and issues across group companies.
Requirements
  • CPA certified or equivalent of an internationally recognized accounting body. Certification in internal auditing (e.g., CIA) preferred.
  • Minimum of 8 years of experience in internal audit is required, ideally within financial institutions. Candidates should have expertise in consumer and retail banking, as well as governance and risk management audits, specifically in areas of expertise such as retail banking, multi-financing, securities, and asset management.
  • Strong knowledge of audit standards, governance, risk management, and regulatory requirements.
  • Excellent communication, analytical, and problem-solving skills.
  • Excellent interpersonal and stakeholder management skills
  • Meticulous, disciplined and self-motivated individual with the passion to pursue excellence
Willingness to travel within the Asia region for audits and supervisory activities.

Sumitomo Mitsui Banking Corporation