Head of Internal Audit, Senior Vice President, UK

at  State Street

The Head of Audit, Senior Vice President UK reports directly to the General Auditor of State Street and is responsible for providing leadership in establishing, directing, and executing the strategy for Audit’s operations in the UK. As the executive audit leader UK, key responsibilities of the role includes hiring, retaining and developing a professional team with the composite skill set appropriate for the size and risk profile of State Street’s business and overseeing the execution of audit work in alignment with industry standards, regulatory requirements and the Corporate Audit Methodology and quality standards.
As an SMF-5 designated role, the position oversees and executes responsibilities in accordance with UK regulatory requirements, the FCA/PRA Statement of Responsibilities and the associated Management Responsibilities Map for each entity. This role is also responsible for representing Corporate Audit at key board-delegated management committees, including; The UK Country Committee, UK Risk Committees, UK Technology and Operations Committee and UK Conduct and Compliance Committee.
The Head of Audit, UK provides independent and objective assessments of the design and operating effectiveness of State Street’s system of internal controls. The assessments include controls over regulatory reporting, compliance with laws, regulations and corporate policies, and the effective management of risks faced in executing the strategic and tactical operating plans. As a key member of the both the UK executive team and Corporate Audit Executive team, responsibilities include developing and maintaining strong partnerships to provide guidance/consultation in the development of strategies to improve performance, drive continuous improvement in processes, raising the bar of risk excellence for the firm and developing leaders of leaders as part of succession for Corporate Audit as well as the company.

Other Key Responsibilities Include:

• Establish and maintain collaborative partnerships with management to provide proactive risk advice in line with independence requirements
• Evaluate and recommend improvements to the design and operating effectiveness of State Street’s global risk management, control and governance processes.
• Collaborate with the Corporate Audit leadership team responsible for the business aligned audits in the planning and execution, as applicable, to the audits of the UK business lines in accordance with the Standards for the Professional Practice of Internal Auditing promulgated by the Institute of Internal Auditors and expectations of local regulators.
• Develop required internal audit strategies and plans that address and evolve with the applicable risk facing activities within the legal entities and business areas.
• Build and maintain effective relationships with the regulators at the UK’s Financial Conduct Authority and Prudential Regulation Authority.
• Develop and maintain the requisite knowledge of key laws and regulations, current trends and technical issues impacting the professional practice of internal audit across the region.
• Modify program activities to meet the evolving legal and regulatory changes for the UK and drive continuous improvement through the development and implementation of new techniques, methods and practices to improve audit effectiveness and efficiency.
• Provide leadership, oversight and reporting of the global audit plan with respect to the UK legal entity and jurisdictional requirements.
• Monitor and report on previously identified control issues to ensure they are properly addressed by management, verify the effectiveness of corrective actions taken, and reports the status of outstanding issues that may be past due with respect to correction.
• Report on annual audit plan progress, results of audits performed and status on open and overdue audit issues to the various Boards, management and governance committees within the UK Region.
• Manage a professional team of approximately 40 staff located in the United Kingdom and Poland.
• Lead the development and implantation of Corporate Audit strategic priorities as assigned by the Chief Auditor.
• Develop, attract, engage and retain industry-leading talent. Allocate resources to promote efficiency and effectiveness to achieve the program of high quality audit coverage and timely completion of the annual audit plan.
• Ensure that all audit staff have development plans that keep them current with local laws, regulations and market practices.

Qualifications:

• Minimum of 20 years of related experience including time spent managing in an executive capacity
• Minimum of 10 years as a lead UK auditor in Financial Services, GSIB experience preferred
• Demonstrated experience evaluating operational business functions for a multi-jurisdictional financial services company
• Demonstrated examples of operating with integrity, independence and objectivity while managing a large internal audit program
• Proven strength in building and leading strong teams
• A minimum of Bachelor’s degree in Law, Finance, or Business Administration, or in a related field, or equivalent experience
• Post-graduate education, with a master’s degree in business administration preferred
• Related business experience in accounting, economics, legal, for example
• Expert knowledge of audit principles and strategies and demonstrated impact of continuous improvement
• Highly organized with extensive analytical, problem-solving and negotiation skills
• Proven interpersonal and communication skills (executive presence, gravitas and influencing skills) at both the executive and board level

State Street’s Speak Up Lin

• Establish and maintain collaborative partnerships with management to provide proactive risk advice in line with independence requirements
• Evaluate and recommend improvements to the design and operating effectiveness of State Street’s global risk management, control and governance processes.
• Collaborate with the Corporate Audit leadership team responsible for the business aligned audits in the planning and execution, as applicable, to the audits of the UK business lines in accordance with the Standards for the Professional Practice of Internal Auditing promulgated by the Institute of Internal Auditors and expectations of local regulators.
• Develop required internal audit strategies and plans that address and evolve with the applicable risk facing activities within the legal entities and business areas.
• Build and maintain effective relationships with the regulators at the UK’s Financial Conduct Authority and Prudential Regulation Authority.
• Develop and maintain the requisite knowledge of key laws and regulations, current trends and technical issues impacting the professional practice of internal audit across the region.
• Modify program activities to meet the evolving legal and regulatory changes for the UK and drive continuous improvement through the development and implementation of new techniques, methods and practices to improve audit effectiveness and efficiency.
• Provide leadership, oversight and reporting of the global audit plan with respect to the UK legal entity and jurisdictional requirements.
• Monitor and report on previously identified control issues to ensure they are properly addressed by management, verify the effectiveness of corrective actions taken, and reports the status of outstanding issues that may be past due with respect to correction.
• Report on annual audit plan progress, results of audits performed and status on open and overdue audit issues to the various Boards, management and governance committees within the UK Region.
• Manage a professional team of approximately 40 staff located in the United Kingdom and Poland.
• Lead the development and implantation of Corporate Audit strategic priorities as assigned by the Chief Auditor.
• Develop, attract, engage and retain industry-leading talent. Allocate resources to promote efficiency and effectiveness to achieve the program of high quality audit coverage and timely completion of the annual audit plan.
• Ensure that all audit staff have development plans that keep them current with local laws, regulations and market practices