Continuous Assurance Consultant / Project Contractor -London

Day Rate to £750- Long Term contract

The Continuous Assurance program administers a regimen of end-to-end tests on core processes in order to identify Root Causes impacting the effectiveness and sustainability of the control environment thereby providing a high degree of assurance to Risk Owners and C Suite Stakeholders alike, that controls receive rigorous oversight.

The role is responsible for supporting the Continuous Assurance (CA) program in order to meet the expectations of regulators and compliance stakeholders by providing continuous testing of core first line processes.

 

Business

  • Support the Continuous Assurance Manager in implementing and administering an industry-standard program.
  • When required, meet with the regulators/Monitor(s) and meet deadlines set by specific inquiries.
  • Ensure that key changes (to laws, rules, regulations, and Group Policy) are well understood.

Processes

  • Responsible for executing testing of core processes in order to provide assurance to risk control owners and regulators that the control environment is operating at a satisfactory level of effectiveness.
  • Perform duties of ‘Senior Reviewer’ or ‘Reviewer’ (designated as such by the Manager) as mentioned in the Methodology and at the direction of the  Manager.
  • Evaluate the effectiveness of the program in mitigating residual risk footprint through an assessment of first-line controls.
  • For risk events assessed, determine whether deficiencies exist in risk event outcomes, application/design of controls, quality of personnel, and management of the process.
  • In the event that deficiencies are identified in risk events reviewed or if identifies a rework perform a root cause analysis with corrective actions recommended
  • Monitor completion of corrective actions assigned to risk events and escalate control deficiencies identified.
  • Assist in maintaining and updating policies, procedures, and program infrastructure.
  • Assist in driving best practices and administering training to the team.
  • Proactively manage time and prioritize tasks to meet testing goals and regulatory requests.
  • Provide data, documentation, and/or walkthroughs requested by Stakeholders.

Governance  

  • Propose control improvements, enhancements and/or highlight opportunities for increased efficiency, where appropriate.
  • Assist in drafting of reporting.
  • Track significant Transaction Monitoring and/or Investigations related concerns arising from metrics, Assurance activities, audit reviews and regulatory inspections.
  • Deliver ‘effective governance’; challenge fellow executives effectively, and work with any local regulators in an open and cooperative manner.
  • Awareness and understanding of the regulatory framework in which the firm operates, and the regulatory requirements and expectations relevant to the role.

Key Stakeholders

  • Support the close interaction between 1st line stakeholders 
  • Support the close interaction between Operational Risk and business.
  • Support the close interaction between Continuous Assurance and Thematic Assurance.  

 

COMPETENCIES:

  • Demonstrates an understanding of the key products or services provided by the business/function, and the processes and controls that underpin them
  • Is able to articulate the core components of the Continuous Assurance Methodology and their application within the business.Analytical skills. Can do a root cause analysis - review, assess, digest and interpret effectively. Is able to demonstrate an ability to articulate sound and objective judgment to support Assurance assessments
  • Shows understanding of the differing roles & responsibilities of Assurance and 2nd line, and can articulate these to partners/stakeholders

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