Internal Audit Manager - Prudential, Credit Risk & Finance

Currently partnering a leading Financial Services business to recruit a Internal Audit Manager.

As Internal Audit Manager you will be covering credit risk, prudential, and finance audits, responsible for designing, planning, and leading a variety of targeted reviews to assess the control environment, identify risks, and recommend improvements.

Here are examples of the specific reviews you are likely to deliver:

Credit Risk Audits

• Credit Approval & Underwriting Reviews
  • Evaluate the adequacy and effectiveness of controls over credit assessment, approvals, and limits for various product lines.
  • Assess adherence to credit policy and regulatory requirements.

• Impairment and Provisioning Review
  • Assess controls related to expected credit loss calculation, provisioning accuracy, and compliance with IFRS 9 or equivalent frameworks.

Prudential Risk (Regulatory) Audits

• ICAAP and ILAAP Reviews
  • Test the governance, methodology, and reporting processes for the Internal Capital Adequacy Assessment Process (ICAAP) and Internal Liquidity Adequacy Assessment Process (ILAAP).
  • Evaluate scenario planning, stress testing, and senior management oversight of capital and liquidity.

• Regulatory Reporting Assurance
  • Review the preparation and submission processes for key prudential returns (e.g., COREP, FINREP), checking for data integrity, reconciliations, and regulatory compliance.

• Risk Appetite and Policy Framework
  • Assess alignment of risk appetite statements, board risk frameworks, and underlying controls with regulatory and business requirements.

Finance Audits

• Financial Controls and Reporting
  • Examine accuracy and integrity of financial reporting, including closing processes, reconciliations, and management information.
  • Focus on key risk areas: revenue recognition, cost allocation, and general ledger controls.

Thematic and Cross-Functional Reviews

• Model Risk Reviews
  • Evaluate governance and validation of credit risk, capital, and pricing models.

• Change and Transformation Initiatives
  • Review key finance or regulatory change projects, assessing risk identification, governance, and delivery assurance.

Experience Required:

• Ideally you will be working in a Top 10 practice delivering external audits across regulated clients with knowledge across FCA regulations, or you cudl be working in Internal Audit currently working with financial services already.
• Knowledge and experience of financial audits is required with treasury and prudential riskknowledge advantagious
• A good understanding of the key principles around International Financial Reporting Standards (IFRS 9) and Expected Credit Losses (ECL)
• Relationship management and influencing skills with the ability to balance assertiveness with need to build and maintain internal relationships