Challenge

The business required significant upsizing of its global IA function to reflect the global growth of its business. There were gaps emerging from specific coverage lines from Global Markets to Treasury & Finance, Asset Management. The client required mirroring of these expanding operations across various jurisdictions. Teams were stretched with often VP or Director level auditors covering multiple business lines, but not able to manage and understand risks effectively as they were spread too thin. Another challenge was ensuring cultural fit was appropriate for the team, which is front facing and relationship driven.

Solution

Deep dive headhunting across competitor institutions with larger more established Internal Audit functions enabled us to bring IA specialists with direct business coverage experience of interest to the team.

Outcome

The additional hires contributed to a best-in-class IA function with dedicated product specialists in all areas of the franchise. The function now also far better reflects the size of the front office businesses.