Head of Internal Audit

At OakNorth were on a mission to empower the UKs most ambitious businesses. Since 2015 weve lent over $21 billion across the UK and US helped create more than 58000 new homes and 36000 new jobs and supported hundreds of thousands of personal savers all while fuelling the UK economy.

We are seeking an independentHead of Internal Auditto lead the Banks Internal Audit function and act as the primary owner of thethird line of defence. The roleis responsible forproviding independent assurance to the BoardandandAudit Committeeregardingthe effectiveness of the Banks governance risk management and internal control additionthe role supportsleadershipofthe Assurance Centre of Excellenceto deliver the combines assurance planwhichintegrates the work ofourrisk and compliance assurance activity and theactivity of theInternal Audit team.

The Head of Internal Audit will develop and deliver theAudit Risk Assessment and Internal Audit plan oversee the execution of risk-based auditsand advisory workacross the organisation. The role will help toensure compliance with relevant regulatory frameworks includingPRA/ FCAexpectationsandFederal Reserve andNYDFSexpectations for our NY Rep Office

Given thebank is a cloudnativefintechthe Head of Audit needs tohave a good understanding of data and technologyrequiredfor a digital firstinternational addition to this the Head of Audit shouldhave a good understanding ofthe emergingrisks around AI models agenticprocessesand technology platforms. The othercriticalarea for the Bank iscredit and the successful individualshould understandthe credit cycle and risks arising fromSME lending.

Key Responsibilities

Internal Audit Leadership
Lead and manage OakNorths the Banks Internal Audit function as the third line of defence providing independent assurance to senior management and the Board internationally. This covers OakNorth Bank ONGPL and ONs US holdings. .
Maintain a strong understanding of the key current and emerging risks affecting the Bank including credit operational technology regulatory conduct and AI-related risks.
Have a continuous improvement mindset and lead the team to continuously assess and improve their approach and methodologies. This includes a focus on efficient use of tooling data and AI.
Provide independent oversight of the effectiveness of risk management governance processes and internal controls across the organisation.
Ensure the Internal Audit function maintains sufficient expertise to assess technology data and AI-related risks across the Bank.
Build strong relationships with senior stakeholders while maintaining independence and objectivity.
Work closely with the CRO and second line teams Assurance CoE in the execution of the combined assurance plan.Audit Planning & Execution Define the Audit Universe and Own the development and delivery of the Internal Audit annual plan ensuring it is risk-based and aligned with regulatory expectations.
Lead the audit planning process including scoping logistics staffing and audit programme definition.
Coordinate the timely execution of audits utilising internal resources as well as co-sourced or third-party providers where appropriate.
Ensure adequate audit coverage of all risk types with a focus on credit prudential regulatory technology platforms AI models data governance cyber security and model risk management frameworks.
Oversee audits across the Bank to ensure appropriate coverage of key risk areas and regulatory requirements.
Ensure audit activities demonstrate the firms compliance with SYSC 6.2 US requirements for Internal Audit in Financial Services (e.g. OCC Comptroller Handbook for Internal Audit) and other applicable regulatory frameworks Global Internal Audit Standards and the Financial Services Internal Audit Code.Reporting & Recommendations Present written audit results to senior management and the Audit Committee demonstrating an independent and objective view in a clear succinct and comprehensive manner.
Provide practical and meaningful recommendations to address control weaknesses and improve risk management practices.
Track audit findings and ensure timely remediation of identified issues.Governance & Regulatory Engagement Lead the execution of legal entity governance audits and regulatory compliance audits across the Bank.
Maintain strong engagement with the Audit Committee regulators and senior leadership ensuring transparency and effective communication.
Ensure the Internal Audit function operates in line with PRA F and FCA and for the US operations Federal Reserve and NYDFS expectations relevant professional standards and evolving regulatory guidance on AI governance and technology risk.Co-sourced Audit Management Manage relationships with co-sourced or outsourced internal audit providers ensuring the quality of output and service meets regulatory expectations.
Oversee the effective use of external audit specialists particularly in areas such as technology cyber security and AI auditing.
Ensure budgets for co-sourced or outsourced services are appropriately managed.

Experience & Skills

Significant experience in internal audit within banking or financial services ideally at a senior leadership level.
Strong understanding of UK banking regulation PRA/FCA expectations and SYSC requirements. Some knowledge of US regulations and/or the expectations of the Federal Reserve and NYDFS would be useful.
Experience delivering risk-based audit programmes across credit operational technology and regulatory risk areas.
Familiarity with AI governance model risk management data governance and technology risk frameworks.
Experience managing co-sourced or outsourced audit relationships.
Strong analytical and problem-solving capabilities with the ability to assess complex risk environments.Attributes High level of integrity independence and professional judgment.
Strong communication skills with the ability to present clearly to senior management and Board-level committees.
Strategic thinker with the ability to identify emerging risks and adapt audit coverage accordingly.
Collaborative leadership style with the ability to influence senior stakeholders while maintaining audit independence.
Tech forward approach with ability to leverage analytics and AI to improve the audit process.We may use artificial intelligence (AI) tools to support parts of the hiring process such as reviewing applications analyzing resumes or assessing responses and identifying potential inconsistencies or verification signals in application materials based on available information. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed please contact us.

Required Experience:

Director

Employment Type : Full-Time
Experience: years
Vacancy: 1