Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Dec. 31, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com.
Internal Audit Services at CIT is looking for an experienced and dynamic audit professional to join their Regulatory Corporate Compliance team as a Vice President at our New York, NY or Livingston, NJ location. The successful candidate will be responsible for leading and performing internal audit engagements covering Compliance areas, primarily in BSA/AML and Sanctions, but could also include the consumer regulations area. The individual would have a highly visible and significant role in leading the engagements including evaluating internal controls, reviewing, performing and documenting audit test work, communicating audit issues to management and identifying and recommending opportunities for a more effective and efficient audit processes.
The VP's principal duties and responsibilities include:
• Leads the annual Enterprise-wide BSA/AML and Sanctions Audit. Organizes and effectively plans for large audits (including defining the scope and designing effective audit test steps), ensuring all audit work is performed in accordance with department and IIA standards, and meets regulatory expectations. Potentially participates in other audits within Corporate Compliance.
• Demonstrates proficient knowledge of BSA/AML and Sanctions and associated risks and related impacts to the organization.
• Delivers quality audit work within required completion timeframes of each audit.
• Participates in the annual risk assessment process.
• Ability to build strong working relationships with clients and Regulators to promote the value of IAS.
• Offer effective solutions to problems, including process improvements.
• Provide clearly defined business rules and suggested courses of action to develop new analytics.
• Performance management responsibilities for assigned direct reports, providing professional development guidance.
• Commitment to professional development through continuing education. Pursing a relevant certification is highly encouraged.
• Prior work experience auditing BSA/AML and Sanctions Programs in a Holding Company / Bank institution and / or experience working in the regulatory compliance function with a BHC / Bank institution
• Knowledge of Holding Company /Bank regulations (e.g. Federal Reserve, State, etc.) and the risks and adequate controls.
• Strong analytical skills - asks good questions and probes multiple resources for answer
• Strong verbal and written communication skills and interpersonal skills
• Strong Project Management skills - Is aware of team member status when in-charging and effectively re-aligns resources as needed
• Highly reliable and dependable - successfully manages/initiates projects including seeing a large number of task through to completion
• Ability to ensure Management Action plans are viable and address the root cause of any issues identified
• Demonstrates appropriate and effective business writings, e.g., audit reports and memos
• Strong PC skills (Excel and Word)
• Approximately 10% travel may be required
Education & Certification:
• Undergraduate Degree in Accounting, Finance or related discipline
• 8-10+ years audit experience, preferably in the Financial Services sector with Compliance / Regulatory experience
• Professional certification of CAMS. Other certifications such as CIA, CPA and/or CFE is a plus