Director, Internal Audit

Your opportunity

We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.

As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.

Our Opportunity

The Internal Audit Department (IAD) of The Charles Schwab Corporation (CSC) provides independent and objective assessments to determine whether all significant risks are identified and appropriately reported by management and risk functions to the Board and Executive Management, to evaluate whether risks are adequately controlled, and to challenge Executive Management to improve the effectiveness of governance processes, risk management, and internal controls.

The Anti-Money Laundering (AML) enterprise team is seeking an Internal Audit Director primarily responsible for managing a portfolio of BSA/AML/OFAC audits, including audit projects, issue management and validation, retrospective reviews related to adverse events, and support for regulatory activities. This role will also support audits related to Fraud, Conduct, and Trade Surveillance.

Reporting to the Managing Director of the Bank & Trust and AML enterprise teams, the Internal Audit Director will have responsibility for the independent and objective assurance activity designed to improve the organization’s operations and compliance with key regulations by evaluating and improving the effectiveness of risk management, control, and governance processes. This position will focus on AML-related risks and other financial crimes related risks throughout CSC. This position is also responsible for working with audit resources provided by an external co-sourcing provider.

What You’ll Do

• Audit Execution: Oversee a portfolio of internal audits, ensuring work is performed in accordance with IIA standards and IAD policies and procedures.
• Review and challenge testing approach and testing conducted.
• Review, challenge, and sign-off on audit deliverables.
• Support the audit team in meetings with key stakeholders.
• Serve as main point of contact with the assigned business unit leaders.
• Provide oversight of audit timelines, budget, resourcing, and milestones.
• Issues Identification: Delivery of issue observations including the consideration of compensating controls, issue rating, and the appropriateness of management action plans.
• Issue Management and Validation: Manage the oversight, validation, and status reporting of audit findings.
• Business Monitoring: Develop and maintain business relationships with AML leadership to enable real-time insight into emerging risks.
• Risk Assessment: Play a supervisory role for the annual risk assessment process through all stages.
• Provide quarterly risk assessment and audit universe updates to IAD management.
• Review and challenge audit universe updates after the completion of each audit.
• People Management: Provide support, coaching, mentoring and feedback to the AML audit team.
• Serve as key driver of recruiting, onboarding, and formal performance reporting and reviews for direct reports.
• Work with direct reports on a training plan that is aligned to each member’s career and development objectives.
• Complete administrative responsibilities for direct reports (i.e., approval of timesheets) and ensure direct reports are adhering to company policy and requirements.
• Regulatory: Play a key role in regulatory relations and provide support for regulatory examinations.
• Provide oversight for completion and validation status (including SLA adherence) for Matters Requiring Attention (MRAs).
• Review and challenge MRA validation work;
• Evaluate the appropriateness of management’s draft responses to MRAs;
• Perform retrospective reviews for each MRA assigned;
• Participate in regulatory meetings (i.e., examinations, regulatory continuous monitoring, IAD business monitoring); and
• Provide responses to regulatory questions and requests for information in support of regulatory examinations and regulatory continuous monitoring activities.
• Administration/Training: Complete firm-wide and departmental administration and training requirements.
• Other initiatives or special projects: As needed, assist with special projects related to business process improvement or department strategic initiatives.
  

What you have

• 10 years of AML audit experience with increasing responsibility. Financial services and/or Big 4 Accounting experience a plus.
• 5 years of people management experience.
• CAMS and CIA strongly preferred. Other relevant certifications will be considered.
• Advanced understanding of internal controls and the ability to evaluate and determine the adequacy and effectiveness of controls considering regulatory and business risks.
• Advanced understanding of financial services, regulatory compliance, business acumen, and audit disciplines.
• Excellent analytical skills, including the ability to anticipate issues and to design appropriate solutions.
• Ability to act as a technical resource for the group over respective audit areas.
• Excellent verbal and written communication skills with a demonstrated ability to articulate effectively and professionally, adopting the appropriate method of communication to suit the environment.
• Ability to manage a portfolio of audits concurrently in an efficient and effective manner with little or no supervision.
• Ability to obtain management agreement and resolution on audit observations, problems, and issues that may arise, or the ability to handle crises independently both swiftly and effectively.
• Proven ability to influence and partner across the organization.
• Experience working with internal and external stakeholders including co-source auditors, regulators, and firm-wide business partners.
• Bachelor’s degree required.
• Ability for occasional travel.
• Base Compensation: $145,400- $242,000. Your compensation may be different. Talk with your Talent Advisor to learn more. In addition to the salary range, this role is also eligible for bonus or other incentive opportunities.
  
  

What’s in it for you

At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.

We offer a competitive benefits package that takes care of the whole you – both today and in the future:

• 401(k) with company match and Employee stock purchase plan
• Paid time for vacation, volunteering, and 28-day sabbatical after every 5 years of service for eligible positions
• Paid parental leave and family building benefits
• Tuition reimbursement
• Health, dental, and vision insurance