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Financial Services Internal Audit Senior Associate

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As a Regulatory Compliance Risk Senior Associate, you will get the opportunity to grow and contribute to our banking clients' business needs by providing in-depth technical knowledge on emerging regulations and help organizations leverage efficiencies within the Risk, Regulatory Compliance & Controls Practice – all with the resources, environment, and support to help you excel. You’ll collaborate with teams to provide comprehensive compliance optimization strategies, to help clients remediate regulatory gaps, streamline operations and limit risk exposure.

From day one, you’ll be empowered by the greater Risk team to help clients make strategic decisions that will help them achieve their vision and help you achieve more, confidently.

Your day-to-day may include:

Participate in the creation and tracking of proposals, engagement work plans, timelines, budgets, project management, resource allocations, statements of work, thought leadership contents, and other business development activities as appropriate
Research, analyze, and understand current marketplace issues and emerging risk and regulatory requirements and guidance
Conduct engagement activities including transactional testing, policy, and procedure review, meet preparation, walkthroughs, etc.
Develop and execute work plans in alignment with project objectives, client expectations, and defined timelines
Facilitate client meetings, performing data analysis and document review, and articulating findings in a written report.
Complete workpapers and final deliverables including but not limited to gap assessments, test scripts, planning memos, evaluation memos, preliminary and final report
Manage and minimize engagement risk by proactively identifying issues and recommended courses of remediation
Maintain active communication with clients to manage expectations, ensure satisfaction, and become a trusted business partner
Other duties as assigned
Conduct testing activities for Consent Order Validation, Issue Management, and independent monitoring engagements, responsible for execution of testing to validate client’s issues identified and meet requirements set forth by regulators.

You have the following technical skills and qualifications:

Bachelor’s degree in Accounting, Economics, Finance, Information Technology, Risk Management, or related field
Minimum 2 years of related work experience working in compliance, risk management or internal audit departments at commercial/retail banks or other financial institutions, or in a similar consulting practice
Proven technical ability handling compliance issues, CRCM certification preferred and/or former commissioned bank examiner with the FDIC, FRB, OCC, or CFPB preferred
Compliance risk management, audit, or risk management, background highly preferred
Knowledge of consumer protection principles, compliance management systems, compliance risk management, consumer protection laws in the banking industry (UDAP/UDAPP, TILA, ECOA, RESPA, Flood Insurance, HMDA, FDCPA, FCRA, UDAAP, TISA, EFTA, EFAA, SCRA, MLA, Privacy, etc.)
Understanding of banking regulatory and risk hot topics focus areas, and concepts such as Fair Lending, Unfair or Deceptive Acts or Practices, Truth in Lending, Truth in Savings, Fraud Prevention, Third Party Risk Management, Regulatory Change Management, Enterprise Risk Management, Credit Risk, and Capital and Liquidity Management, etc.
Knowledge and understanding of consumer financial products, including transaction accounts, savings deposits, time deposits, prepaid cards, mortgages, home equity loans/lines of credit, credit cards, auto loans, student loans, personal loans/lines of credit, and overdraft services
Experience with operational processes, systems, and controls relating to the development, marketing, origination, servicing, and termination of consumer financial products at banks and financial institutions of various types and sizes
Practical work experience involving compliance testing/monitoring, compliance audits, compliance training, controls testing and data analytics at banks and financial institutions of various types and sizes
Familiarity with CFPB, FDIC, FRB, OCC, and NCUA compliance examination procedures
Understanding of the risk-based approach and methodologies used across the different stages of an internal audit including Risk Assessment, Scoping, Audit Work Program Development, Design Assessment, Operating Effectiveness Testing, Root Cause Analysis, Reporting and Issue Validation
Strong oral communication, written communication, organizational, technical, and analytical skills
Excellent teamwork and collaboration skills
Can travel as needed
Consistent with the firm’s hybrid work model, this position will require in-person attendance at least two days per week, either at a GT office or client site.

The base salary range for this position in Manhattan Office only is between $103,700 and $155,500.

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What You Should Know About Financial Services Internal Audit Senior Associate, Grant Thornton

Join our dynamic team as a Financial Services Internal Audit Senior Associate in Dallas, Texas! At our firm, we're all about empowering our employees and making a real impact in the banking industry. In this role, you'll bring your expertise to help our banking clients navigate the intricate landscape of regulatory compliance and risk management. You'll dive deep into analyzing current marketplace issues and develop comprehensive compliance optimization strategies that not only address regulatory gaps but also enhance operational efficiencies. Throughout your day-to-day activities, you'll have the chance to collaborate with a passionate team, crafting proposals, managing projects, and facilitating client meetings—all while gaining invaluable insights into banking regulations and compliance risk management. With at least 2 years of experience in the compliance or internal audit sector, you will take ownership of testing activities for Consent Order Validation and establish yourself as a trusted advisor to our clients. Your familiarity with regulatory frameworks and consumer protection laws will be pivotal in helping clients make sound strategic decisions. You thrive in an environment that encourages teamwork and innovation, with ample support to grow your career. So if you’re excited about merging your passion for finance with your skills in risk management and compliance, we’d love to hear from you. You won’t just be filling a role; you’ll be creating opportunities for yourself and our clients. Come join us on this journey!

Frequently Asked Questions (FAQs) for Financial Services Internal Audit Senior Associate Role at Grant Thornton

What are the main responsibilities of a Financial Services Internal Audit Senior Associate at our firm?

As a Financial Services Internal Audit Senior Associate, your primary responsibilities include conducting thorough compliance audits, managing client expectations, and streamlining operational processes to improve efficiency. You’ll develop and implement work plans, facilitate client meetings, and produce comprehensive reports detailing your findings and recommendations. Your role will also involve analyzing emerging regulations and delivering effective compliance strategies, making a significant impact on our banking clients' operations.