Executive Manager Wholesale Credit Audit

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The Commonwealth Bank of Australia (Bank) is Australia's leading provider of integrated financial services. They are committed to continuously improving governance practices and ensuring that they are aligned with business, stakeholders and customers’ needs. Group Audit and Assurance (GA&A) are the internal audit function for the Group. Their primary purpose is to provide independent and objective assurance of the effectiveness of the Groups risk management, controls and governance processes. 

Evolving customer expectations, competitive threats and pace of change require GA&A to support the business with new insights and risk coverage that puts customers first and to continue to provide insightful assurance to the Board. As digital technology disrupts and transforms entire industries and ways of working, GA&A is committed to keeping pace and continually reimagining themselves with the latest global best technology and innovation.

Over the last three years GA&A has increasingly embedded digital assurance into audit activities, injecting Artificial Intelligence (AI) into routine control testing and using digital tools to improve the overall experience for employees. 

By reducing administrative overhead, GA&A have increased their teams capacity for high value judgement-based activities and expanded their support to include sharing knowledge and tools that create better risk coverage across the Bank for all Three Lines of Assurance. With global-best digital tools that harness the power of data, analytics and AI, GA&A are delivering smarter, faster and safer outcomes to address current and emerging risks and provide better assurance outcomes for our customers and community. GA&A was recognised as an ABA100 winner for both Risk Management and Business Innovation in The Australian Business Awards 2023.

See yourself in our team

The Wholesale Credit Risk Audit team is a newly established team within the GA&A, focusing on Credit Risks within Business Banking and Institutional Banking & Markets.

Do work that matters

As a Credit Risk Executive Manager for Wholesale Credit Risk, your SME team and you will provide objective assurance on credit risk management including segment portfolio management and work closely together with the business audit teams to ensure adequate coverage is provided.

The teams add value through:

• In accordance with the Annual Audit plan, executing audits and serving as key experts and advisors to Business Banking and Investment Banking & Markets audit teams regarding wholesale (non-retail) credit risk management, commercial real estate underwriting, deal review and performance monitoring, and fraud risk controls.
• Performing continuous monitoring to capture key and emerging risks to ensure the Audit Plan remains dynamic and relevant.
• Validating closure of audit and regulatory wholesale credit issues in compliance with CBA’s issue validation policies.
• Providing objective assurance on risk management to key customers (e.g. Group Executives and their leadership teams) to secure the financial wellbeing of the Bank’s customers.

Your Responsibilities:

• Drive high performance by taking accountability and leading audit team members to achieve GA&A strategic targets and goals.
• Provide subject matter expertise and strategic direction for auditing wholesale lending and other credit related areas in Business Banking and Investment Banking and Markets.
• Build and deliver a dynamic risk-based Annual Audit Plan for wholesale credit risk, including coverage of the internal ratings-based approach, and support the broader GA&A Plan.
• Oversee effective and efficient planning and delivery of audits. This includes understanding the linkages between credit risk and model risk management frameworks, process, controls, credit decisions and maintenance associated with wholesale lending. Deliverables include Planning, Fieldwork, Reporting, through to audit closure including administration of key audit stage-gates in the audit electronic workflow system.
• Solve, complex, undefined problems by applying specialized expertise that impacts the audit approach.
• Provide critical support for remediation initiatives, leveraging expertise.
• Mentor and develop others, enhancing technical expertise and influence within the team.
• Drive appropriate use of analytics and AI, to achieve audit efficiency and deeper insights (i.e. the use of analytics on lead-in reviews, and KRI monitoring to drive audit scope and targeted audit testing).
• Influence the audit approach to address emerging risks and develop audit hypotheses on existing processes and emerging risks. 
• Adhere to audit methodology and QA Program, including timely and effective delivery of Quality Assurance file reviews and ensure any feedback is quickly and effectively addressed.
• Create and develop independent, objective, and high impact relationships within GA&A, the bank and externally to enable effective knowledge sharing and collaboration and buy-in to strategic initiatives.

We’re interested in hearing from people who have:

• Extensive knowledge and experience in wholesale credit risk management, credit operations, wholesale credit review/ audit in a major financial institution, consulting company or regulatory agency, including credit risk assurance and decisioning processes (Judgement).
• Knowledge of, and experience in, internal audit, risk management (desirable)
• International Line1 and Line 2 credit approval experience will be a plus.
• Strong communication (written and verbal) and senior stakeholder engagement with the ability to present and influence senior management
• Excellent project management and organizational skills to deliver across multiple competing and time-bound priorities

Is this your next challenge, apply Now!

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