Director – Risk and Legal

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EMEA Internal Audit Office (EIAO), as the Bank’s third Line of Defence, and in accordance with the Global Institute of Internal Auditors (IIA) International Standards (IIA Standards), provides independent assurance to the Board and Executive Management on the quality and effectiveness of governance, risk management and internal controls to monitor manage and mitigate key risks to achieving the Bank’s objectives.

NUMBER OF DIRECT REPORTS

3

MAIN PURPOSE OF THE ROLE 

The main purpose of the role is to provide leadership and oversight for EMEA Enterprise Risks and GM Traded Risk portfolio. This includes responsibility for design of audit planning and corresponding audit execution for all relevant audit components related to enterprise wide risks in EMEA (including market, model and prudential risks) and GM traded risk (including key trading P&L drivers, market risk, traded credit risk, model risk and valuation risks).

The person will be required to develop and manage relationships, working closely with local and global audit colleagues and regional and global business stakeholders.

In particular, the holder will be required to play a significant role in developing, implementing and embedding a robust relevant audit approach for the region, as well as contributing to key strategic initiatives, both locally and globally. In addition, they will be required to play a key role to establish the Traded Risk Centre of Excellence (CoE) globally, providing analytical, technical and quantitative support across traded risks for Global Markets audits.

They will also be responsible for maintaining the audit universe for their assigned auditable entities and the related risk assessment, delivering effective continuous monitoring, and establishing and maintaining strategy and approach papers.

Note: 70% of the role capacity is allocated to cover EMEA risks vs 30% to support the global GM traded risk.

KEY RESPONSIBILITIES

People:

• EIA Directors are responsible for the line management of staff allocated to them. These teams will be made up of Senior Audit Managers, Audit Managers, Senior Auditors or Auditors.
• High performing teams are expected in EIA and therefore the EIA Director must support performance and talent management.
• The EIA Director will be required to influence and negotiate with counterparts across EIA and globally to execute audit assurance.
• As a Director, high leadership standards are expected across the wider global function and bank and the role holders will be required to act as role-models and support other EMEA-wide initiatives.
• EIA Directors will also be required to support non-‘BAU’ strategic initiatives e.g. 5 P’s.
• EIA Directors are expected to play a lead role in team meetings and be proactive in identifying issues in the department and managing them.

  Planning:

• EIA Directors will support Heads of Audit in managing their sections of the risk universe and the related risk assessment. This includes producing the annual audit plan and maintaining appropriate documentary evidence that the plan is risk based and provides the appropriate coverage.
• Are expected to utilise their subject matter expertise, knowledge of the business, continuous monitoring intelligence and wider industry knowledge to complete the risk assessments applied to the universe.
• Will be responsible for the development of strategy and approach papers for entities and risks within their team’s portfolio.
• They are expected to improve risk coverage (within their specialist areas in particular, but not limited to this) on a global basis e.g. support thematic coverage globally.

  Product:

• EIA Directors are responsible for the delivery of audit engagements assigned to them.
• Ability to lead a portfolio of Audit Engagements, which must demonstrate appropriate coverage of the key risks and meet all QA standards.
• Provide high quality impactful audit opinions based on the scope of work within their portion which is value adding for stakeholders (Board/ Audit Committee/ Executive Management and their Businesses)
• Deliver continuous monitoring assignments for agreed entities, supporting their Head of Audit.
• Issue Management must be maintained to the highest standards.
• The role holders will contribute to the department meeting the required Quality standards and are expected to lead and champion audit methodology implementation.

  Position:

• The EIA Director position will be a contributing representative for the Department on a global basis.
• Attend Bank forums when the Head of Audit is unable to attend or when delegated within their team’s portfolio.
• Lead relationships with key business staff and auditees within their team’s portfolio.

  Professional Practices:

• Take ownership of or support strategic developments within EIA and assist IAD globally on this agenda.
• Work closely within the Head of Audit Finance, Legal, Risk and Compliance and EIA SLT to ensure that the departmental vision and objectives, outlined under the ‘5 P’s’ Programme are being achieved.

WORK EXPERIENCE

Essential:

• Significant experience of working in Enterprise, Market, Model and Traded risks, including leading and managing audit teams and establishing audit strategies.
• Experience working in leading financial services firms
   

SKILLS AND EXPERIENCE

Functional / Technical Competencies:

Essential

• Excellent subject matter expertise within Enterprise, Market, Model and Traded risks activities, processes, products, technology and controls is required.
• The person should have a good understanding of key governance, strategy, risk and management processes. 
• Higher education or equivalent industry experience within Audit.
• The person should understand regulatory requirements and minimum standards as they apply to MUFG’s key activities with a particular focus on Enterprise, Market, Model and Traded risks-related requirements.
• Strong acumen regarding auditing methods and industry practices. A strong understanding of finance and risk management within banking.
• An excellent communicator, the role-holder will be required to have appropriate gravitas, presence and business acumen to interact easily with senior management.
• Global perspective, demonstrating inclusiveness through an appreciation of different perspectives and diversity.
• A passion for leading people and being driven to be part of a high performing team is a must.

Education / Qualifications:

Preferred:

• Bachelor’s degree and relevant professional accountancy &/or qualifications, e.g. CIA, ACA, CFA are preferred. Alternatively candidates with exceptional experience may be considered if they have no relevant educational qualifications.

PERSONAL REQUIREMENTS

• Excellent communication skills
• Results driven, with a strong sense of accountability
• A proactive, motivated approach.
• The ability to operate with urgency and prioritise work accordingly
• Strong decision making skills, the ability to demonstrate sound judgement
• A structured and logical approach to work
• Strong problem solving skills
• A creative and innovative approach to work
• Excellent interpersonal skills
• The ability to manage large workloads and tight deadlines
• Excellent attention to detail and accuracy
• A calm approach, with the ability to perform well in a pressurised environment
• Strong numerical skills
• Excellent Microsoft Office skills
• A confident approach, with the ability to provide clear direction to your team
• Excellent managerial experience
• The ability to manage a high performing team
• A strategic approach, with the ability to motivate your team
• The ability to articulate and implement the vision/strategy for Enterprise, Market, Model and Traded risks Audit

PERFORMANCE AND DUTIES

The role holder will be assessed in accordance with their employing entity’s performance framework and process with relevant input obtained from the dual hatting entity as relevant.

As duties and responsibilities change, the job description will be reviewed and emended in consultation with the role holder. The role holder will carry out other duties as are within the scope, spirit and purpose of the role as requested by their line manager or Department Head.

MANAGING CONFLICTS OF INTEREST

• The role holder will have responsibilities for both MUFG Bank and MUFG Securities EMEA plc.
• The role holder will be required to perform their duties and responsibilities on an entity neutral basis, without favour.
• The role holder is required to follow regulatory requirements applicable to ensure each business is appropriately supported and to maintain the legal entity integrity of each of MUFG Bank and MUS.
• Working terms are dictated by functional mandates, the terms of the Dual-Hat Arrangement Agreement in place between MUFG Bank and MUFG Securities EMEA plc and any other relevant agreements entered into between MUFG Bank and MUFG Securities EMEA plc.
• The role holder will have responsibility for identifying and resolving where there may be a difference or conflict in needs between MUFG Bank and MUFG Securities EMEA plc, escalating to their manager where required.

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.