What's Happening?
The Institute of Internal Auditors (IIA) is seeking an experienced Director, Standards & Professional Guidance – Financial Services. This role is crucial for leading the development of timely and relevant
professional guidance, thought leadership, and practical resources specifically for the global internal audit profession within the financial services sector. The Director will serve as a key subject matter expert focusing on banking, insurance, asset management, capital markets, financial services regulation, and risk management. Responsibilities include collaborating with global volunteer committees, subject matter experts, and regulators to develop and maintain guidance aligned with the International Professional Practices Framework (IPPF). The position also involves identifying emerging industry issues and strengthening the relevance and impact of the IIA's professional resources. The role requires a blend of in-office collaboration and remote work, with approximately 10% travel for business meetings and stakeholder engagement.
Why It's Important?
This position is critical for maintaining and advancing the standards of internal auditing within the U.S. financial services industry, which is a cornerstone of the national economy. By developing robust professional guidance, the IIA helps ensure that internal auditors are equipped to address complex financial risks, regulatory compliance, and governance challenges. This directly impacts the stability and integrity of U.S. financial institutions, from banks and insurance companies to asset management firms. The focus on emerging issues like fintech, digital assets, and artificial intelligence in internal audit practices is particularly significant, as these areas present new and evolving risks that could affect financial markets and consumer protection. The role's emphasis on collaboration with regulators and industry experts also ensures that U.S. internal audit practices remain aligned with global best practices and regulatory expectations, fostering a more secure and transparent financial environment.
What's Next?
The IIA will proceed with the hiring process to fill the Director, Standards & Professional Guidance – Financial Services position. Once appointed, the new Director will immediately begin leading projects to develop and update professional guidance, thought leadership, and practical tools for internal auditors. This will involve extensive collaboration with volunteer committees, technical writers, and global subject matter experts. The Director will also be responsible for monitoring regulatory and supervisory developments in the financial services sector to ensure that the IIA's guidance remains current and relevant. Furthermore, the individual will represent the IIA at conferences and professional forums, engaging with financial institutions, regulators, and industry associations to advance the profession and address emerging risks. The ongoing work of this role will continuously shape the professional practices and standards for internal auditors in the U.S. financial services industry.
Beyond the Headlines
The establishment of this specialized director role underscores the increasing complexity and interconnectedness of the global financial services landscape. As financial technologies evolve and regulatory environments become more stringent, the demand for highly specialized internal audit expertise grows. This position highlights the proactive approach required to address systemic risks and ensure financial stability, not just within individual institutions but across the broader U.S. and international financial systems. The emphasis on translating complex regulatory and technical topics into practical guidance speaks to the critical need for clear communication and actionable insights in a field often characterized by intricate jargon. Moreover, the collaborative nature of the role, involving global experts and regulators, reflects the understanding that financial risks transcend national borders, necessitating a unified and adaptable approach to internal auditing.
