Investment Banking Audit Intern

LMA Recruitment ★ A Sunday Times 100 Best Small Company
Wembley City of London, England, HA0 North West London, North West London, United Kingdom
Competitive Salary
Feb 22, 2021
Feb 23, 2021
Job Role
Contract Type
Full Time
Level of qualification
CIMA, Not qualified, Newly qualified, Qualified

Firm: Multinational leading Investment Bank based in the City of London. The role will be covering & rotating across Asset Management, Wholesale Banking & the Securities arm. This will be a paid internship, and is a retained project in partnership with LMA Recruitment.

Duration: 12 Months.

Overall purpose of the job

Working under the direction of UKAO Team members, the main purpose of this role is to assist and support the internal audit activities conducted by UKAO Audit Team.

Principal responsibilities

1. Internal Audit Engagements

a. To assist in conducting audit assignments, under the supervision of UKAO team members, in accordance with the UKAO Audit Policies and Procedures.

b. To record/document the assigned work timely, clearly and appropriately.

c. To produce, or assist in the production of high quality working papers / documents during the audit assignment led by UKAO Team members.

d. To ensure that minutes of any meetings during the audit assignments are documented on a timely and appropriate basis, as and when requested by UKAO team members.

e. To assist the UKAO team in the update and closure of audit data base (eGRC) throughout the course of the audit assignment, ensuring that audits are closed on eGRC on a timely, clear and appropriate basis.

f. To assist in the preparation of the audit weekly status update documents / reports to the business and such that they are distributed on a timely and accurate basis.

2. Issue Tracking and Validation

a. To assist in the follow up and closure of the audit issues identified for the business to address.

b. To assist in the preparation and distribution of audit issue tracking reports on a timely basis and appropriate basis.

c. Assist in the closure of audit issues on the eGRC database on a timely, clear and appropriate basis.

3. Continuous Monitoring

a. Where requested, attend the continuous monitoring meetings with UKAO team members and documenting the meeting minutes on a timely and accurate basis.

b. Coordinate the tasks (such gathering documents and information, organising folders, arranging meetings, checking agenda's etc.) associated with continuous monitoring.

c. Assisting the UKAO team in updating the outcomes from continuous monitoring meetings with the business and updating the risk assessments.

4. Audit Committee duties

a. To attend the Audit Committee meetings upon request / approval from the Head of UKAO and assist in the documentation of meeting minutes.

b. To assist the UKAO team in the co-ordination / completion of tasks included in the preparation of the quarterly audit committees (e.g. preparing audit committee papers, performing quality checks, gathering documents, information etc.)

5. Budget and Time Management

a. To ensure that clear and regular audit communication is maintained with the UKAO team members with regards to the timely completion of tasks/deliverables, ensuring that any expected delays are raised and escalated timely and appropriately.

b. Maintain and record a timesheet (detailing work done and time charged), ensuring that it is complete by the end of each week for reporting and resource management purposes.

6. Stakeholder Management in line with responsibilities and activities outlined in this job description

a. Assist the UKAO team in their engagement with Stakeholders within the business during the course of any audit activities described above.

Regulatory responsibilities

The following regulatory conduct rules apply to all roles in the Bank and you are required to act in accordance with these standards in respect of your role:

Rule 1: to act with integrity.

Rule 2: to act with due skill, care and diligence.

Rule 3: to be open and co-operative with the FCA, PRA and any other regulator.

Rule 4: to pay due regard to the interests of customers and treat them fairly.

Rule 5: to observe proper standards of market conduct.

Qualifications, skills and competencies

Energy, drive and enthusiasm are prerequisites and key to be successful and valuable in this role, however, please see below, further details of some key requirements.


a. University graduate with a Bachelors degree (Note: a degree in Economics, Business, Finance, Mathematics, or Management would be desirable but not essential).

b. Strong academic record / convincing demonstration of academic ability.

c. A basic understanding of, or an interest in, Financial Services is desirable (Note: the business types that UKAO services includes Asset Management, Wholesale Banking and Securities Lending).

d. Proficient in the use of key software such as Microsoft Word, Excel, PowerPoint etc.

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