Role Overview for SVP, Head of Internal Audit with a Global Bank – Chicago, IL
JRG Partners is proud to partner with a prestigious, Tier-1 global banking institution in their search for a Senior Vice President (SVP), Head of Internal Audit. This is a paramount leadership position based in the vibrant financial hub of Chicago, IL. The successful candidate will assume ultimate responsibility for the bank’s entire internal audit function across its North American operations, providing independent, objective assurance and consulting activities designed to add value and improve the organization’s operations.
This executive role reports directly to the Audit Committee of the Board of Directors, with an administrative line to the regional CEO, ensuring the highest degree of independence and objectivity. As the Head of Internal Audit, you will be more than a compliance officer; you will be a strategic partner and a trusted advisor to the Board and senior executive management. You will be instrumental in shaping the bank’s risk management and governance landscape, providing critical insights that protect the bank’s assets, reputation, and sustainability. Your leadership will ensure that the internal audit function is a proactive, forward-looking department that anticipates risk and provides practical solutions.
We are seeking a visionary leader with an impeccable track record in financial services audit, profound regulatory knowledge, and the executive presence to command respect and influence change at the highest levels. This individual will be responsible for building upon a strong foundation, leading a large and diverse team of audit professionals, and driving the evolution of the audit function through the adoption of data analytics, technology, and innovative audit methodologies. This is a unique opportunity to make a significant impact on a leading global financial services firm and to steer its control environment toward best-in-class standards.
Key Responsibilities of SVP, Head of Internal Audit with a Global Bank – Chicago, IL
Strategic Audit Leadership & Planning
Develop, implement, and maintain a comprehensive, risk-based annual internal audit plan that aligns with the bank’s strategic objectives and the evolving risk landscape. This involves continuous monitoring of business activities, industry trends, and regulatory changes to ensure audit coverage is both relevant and robust. You will present this plan to the Audit Committee for review and approval, articulating the rationale behind the scope and focus areas.
Departmental Management & Development
Provide dynamic leadership and direction to a multi-layered team of internal audit professionals. This includes hiring, training, mentoring, and evaluating staff to build a high-performing, engaged, and skilled department. You will foster a culture of integrity, professional skepticism, and continuous improvement, ensuring the team has the resources and expertise to execute their duties effectively. You will also be responsible for managing the department’s budget and resource allocation.
Audit Execution & Quality Assurance
Oversee the end-to-end execution of all audits within the plan, ensuring they are conducted in accordance with the highest professional standards, such as those outlined in the International Professional Practices Framework (IPPF). You will ensure that audit work is thorough, well-documented, and that conclusions are supported by sufficient evidence. Implement and maintain a rigorous quality assurance and improvement program to ensure the function’s effectiveness and compliance with internal and external standards.
Reporting & Communication
Serve as the primary author and presenter of audit findings to the Audit Committee, the Board of Directors, and executive management. Your reports must be clear, concise, and impactful, effectively communicating complex issues, root causes, potential impacts, and actionable recommendations. You will be responsible for tracking the status of management’s remediation plans and validating their completion.
Stakeholder & Regulator Relationship Management
Cultivate and maintain strong, collaborative relationships with senior executive management, business line leaders, and other control functions (e.g., Risk Management, Compliance). Act as the principal liaison with external auditors and regulatory bodies, including the Federal Reserve, OCC, and FDIC. You will manage regulatory examinations of the internal audit function and ensure timely and effective responses to any inquiries or findings.
Risk Assessment & Advisory
Lead the annual and ongoing enterprise-wide risk assessment process to inform the audit plan. Provide proactive, value-added advice and consultation to management on risk, control, and governance matters. This includes participating in key governance committees and providing insights on major business initiatives, system implementations, and new products to ensure risks are considered and controls are designed effectively from the outset.
Continuous Improvement & Innovation
Champion the modernization of the audit function by integrating data analytics, automation, and other emerging technologies into the audit process. Stay at the forefront of developments in the internal audit profession, banking regulations, and risk management practices to continuously enhance the department’s methodologies, efficiency, and overall value proposition to the organization.
Requirements for the SVP, Head of Internal Audit with a Global Bank – Chicago, IL
Education & Professional Certification
A Bachelor’s degree in Accounting, Finance, Business Administration, or a related field is required. An MBA or other relevant advanced degree is strongly preferred. The candidate must hold a professional certification such as Certified Public Accountant (CPA) or Certified Internal Auditor (CIA). Additional certifications like Certified Information Systems Auditor (CISA), Certified Anti-Money Laundering Specialist (CAMS), or Financial Risk Manager (FRM) are highly desirable.
Executive Experience
A minimum of 15-20 years of progressive experience in internal audit, public accounting, or risk management within the financial services sector. At least 10 of these years must have been in a senior leadership capacity, managing large, geographically dispersed teams. Experience in a global, systemically important financial institution (G-SIFI) is essential. Previous experience as a Chief Audit Executive or Deputy Chief Audit Executive is strongly preferred.
Technical Expertise & Regulatory Knowledge
Deep and extensive knowledge of banking operations, products, and services, including capital markets, treasury, commercial lending, and wealth management. The candidate must possess subject matter expertise in U.S. banking laws and regulations, including the Bank Holding Company Act, Dodd-Frank Act, Sarbanes-Oxley Act (SOX), Basel III/IV accords, and BSA/AML requirements. Proven experience interacting with U.S. banking regulators is a must.
Leadership & Management Skills
Exceptional leadership capabilities with a proven ability to inspire, motivate, and develop a team of professionals. Must demonstrate strong strategic thinking, sound business judgment, and the ability to make critical decisions under pressure. Possesses outstanding project management and organizational skills, with the ability to manage multiple complex projects simultaneously.
Communication & Interpersonal Skills
Impeccable executive presence with superior written and verbal communication skills. The ability to articulate complex audit and risk concepts to a variety of audiences, from technical staff to Board members, is critical. Must be a skilled negotiator and influencer, capable of building consensus and driving change across a complex organization. A high degree of integrity, ethics, and professional skepticism is non-negotiable.
Benefits & Perks Offered
Our client offers a highly competitive and comprehensive executive compensation and benefits package, designed to attract and retain top-tier talent. This includes:
- An executive-level base salary commensurate with experience.
- A significant annual performance-based bonus.
- A long-term incentive plan (e.g., restricted stock units, performance shares).
- Comprehensive health, dental, vision, and life insurance for you and your dependents.
- A robust 401(k) retirement plan with a generous company match.
- Generous paid time off (PTO), including vacation, sick leave, and company holidays.
- Executive wellness programs and resources.
- Support for continuous professional development and certifications.
- A comprehensive relocation assistance package for qualified candidates.
- The opportunity to work in a dynamic, collaborative, and globally-connected environment.
How to Apply
If you are a visionary and strategic audit leader who meets these qualifications and is ready to take on a challenging and rewarding role at a leading global bank, we encourage you to apply. JRG Partners is the exclusive recruitment partner for this confidential search. To express your interest, please submit your resume and a cover letter detailing your suitability for the position through our secure application portal.
JRG Partners is a leader in executive search for the financial services industry. We are committed to connecting exceptional talent with extraordinary opportunities. To learn more about our expertise in this area, please visit our Accounting & Finance practice area page. All applications will be treated with the strictest confidence. We thank all applicants for their interest; however, only those selected for an interview will be contacted.
