David Hong

· Assisted in planning phase of the Operational Management Quality Assurance audit, Regulatory Reporting audit, Enterprise Risk Management audit, and Vendor Risk Management audit by creating the Risk & Controls Matrix (RCM) using the audit scope identified in the Statement of Work, prior year RCM, and Bank’s updated Policy and Procedures.

· Performed design and operating effectiveness testing on controls such as policy and procedures, annual QA test plan review, monthly new account QA Checklist review, and bank-wide user access for the Operational Management Quality Assurance audit.

· Performed design and operating effectiveness testing on controls such as transaction testing, variance analysis, policy & procedures review, and manual adjustment for the Regulatory Report audit.

· Performed design and operating effectiveness testing on controls such as annual existing vendor due diligence review and vendor access review for the Vendor Risk Management audit.

· Performed design and operating effectiveness testing on controls such as risk limits monitoring and reporting governance for the Enterprise Risk Management audit.

· Documented observations and findings, discussing with auditee to ensure transparency and timely reporting.

· Performed supervisory review on workpaper created by other subcontractors.

Completed 3 branch audits by reviewing cash handling, self-audit logs, new and dormant accounts, ATM security, overdraft policies, closed accounts, safe deposit boxes, signage, and wire call back procedures.

· Performed Data Center Monitoring Alarm control effectiveness testing to verify that triggered alarms were investigated, logged, and reviewed by Management.

· Performed Hold-up Alarm Monitoring and Reset control effectiveness testing to verify triggered hold-up alarms were responded timely, law enforcements were notified, and the hold-up alarms were reset timely.

· Performed design effectiveness assessment and operating effectiveness testing for the Threat Detection and Analysis audit to review the capabilities and detection mechanisms of the systems used in the threat monitoring.

· Assisted in the planning phase of the Record Management audit by outlining the objectives of the audit, such as assessing compliance with records management policies and evaluating the efficiency and effectiveness of records handling processes.

· Led walkthroughs to evaluate Record Management process and verify adherence to actual procedures.

· Performed control design assessment to determine if Payroll Tax controls and Records Management controls are appropriately structured, comprehensive, and capable of mitigating risks.

· Developed and executed detailed testing procedures for Payroll Tax and Records Management controls, reviewing documentation to confirm compliance with control procedures.

· Evaluated evidence checklist to determine whether actions taken by Management satisfied the success criteria laid out by the milestones for the newly implemented Laws, Rules & Regulations (LRR) Risk Management framework.

· Developed and executed test steps to validate the success criteria laid out within the milestones.

· Documented the validation results in a Horizontal Assurance Report to support the closure of the milestones.

· Developed and maintained respected relationships between Compliance Assurance and Business Oversight Compliance and Key Stakeholder.

· Led a team of Associates and performed supervisory workpaper review on a day-to-day basis.

· Developed annual Internal Audit Risk Assessment for a foreign bank client using both quantitative and qualitative risk factors to identify concerns and potential risk areas to be considered for inclusion in its annual audit plan. Utilized risk matrices, scenario analysis, and risk heat maps to identify and prioritize key risks.

· Assisted the clients’ Issue Assurance team with issue remediation and Federal Reserve Board consent order reviews and collaborated with stakeholders to develop and implement actionable solutions to address identified gaps and verify that the proposed remedies are adequate and that they are being implemented in a timely manner.

· Assisted clients with compliance and business process audits which include identifying and analyzing business processes, key risks, and critical controls; performing walkthroughs; determining audit scope; evaluating control design adequacy; and developing audit procedures which provide sufficient guidance for testing control performance effectiveness.

· Assisted with FR Y-14A (annual) and FR Y-14Q (quarterly) testing which involves validating regulatory data for capital planning and stress testing (CCAR) mandated by the Federal Reserve. It included testing data accuracy for balance sheets, losses, and risk-weighted assets, ensuring compliance with instructions.

· Developed process flow charts to help visualize what is going on and thereby identify risks and mitigating controls on a high-level perspective. Processes such as Trading, REPO, Portfolio Cash Management, Pricing and Valuation, Payroll, Cash Management, Accounts Payables, Accounts Receivables, and Financial Reporting.

· Assisted Audit Leads in reporting and wrap-up phases of audits which include drafting audit reports and appropriate disposition of issues.

Conducted annual Sarbanes Oxley walkthroughs of flow charts and risk and control matrices with process owners for five processes to verify changes to existing processes and controls.

· Created process flow charts and identified risks and mitigating controls for Business Unit audits and Sarbanes Oxley compliance reviews.

· Prepared and executed testing steps to verify that the controls are designed and operating effectively.

· Identified deficiencies and underlying root causes and provided recommendations to mitigate the deficiencies.

· Presented findings and recommendations to senior management, outlining potential benefits and return on investment.

· Conducted conference calls, interviews, and meetings with the appropriate parties at the Licensee and Verisk Business Unit to gain understandings of business products and processes and to discuss the audit scope.

· Prepared and executed audit program/procedure to ensure Licensee complies with the terms of the Agreement and Verisk Business Unit Management has a strong control environment and control activities to identify and mitigate operational and financial risks.

· Drafted audit report to communicate audit procedures, findings, and remediation plan/recommendation to Management.

· Used IA data tool to pull financial data to perform data analysis for 15 Continuous Control Monitoring routines such as investigating duplicate journal entries, journal entries entered and approved by the same individual, verifying reimbursement payments greater than $15k were properly documented and approved, verifying journal entry approval workflow configuration changes were properly authorized, and verifying new departments added and/or modifications to existing departments and ensuring the proper approvals were obtained.

· Performed operational audits, internal audit reviews, and Sarbanes Oxley compliance audits for various industries including financial services, healthcare, media/entertainment, and manufacturing.

· Performed research on Regulation O and R to ensure all aspects of the compliance requirements covered by the test plans.

· Executed test plans for Regulation O and R trainings, Trust and Fiduciary Exemption, Sweep Accounts/Money Market Mutual Fund Exemption, and Identification of Insiders and associated extension of credits.

· Demonstrated an understanding of the client’s business strategy and objectives, and the controls and policies in place to implement and measure results.

· Assisted clients in identifying areas of business risk, potential technical problems, and opportunities to improve the efficiency and profitability of the overall business processes.

· Worked closely with process owners to identify, analyze, and improve existing business processes to assure that critical business objectives were met.

· Assisted clients with efforts to comply with corporate governance and risk management requirements specific to Sarbanes-Oxley 404 Regulations.

· Conducted interviews with business process owners to gain understanding of the processes, to discuss exceptions and to find facts for the remediation action plan.

· Created Risks and Controls Matrix for the identification and analysis of relevant risks and for determination of which controls address the risks sufficiently and precisely enough to mitigate them.

· Prepared and executed audit program to evaluate controls identified to mitigate risk to ensure that controls are operating effectively.

· Assisted clients in remediating control and process gaps.

• Oversaw fund accounting processes for diverse investment products, ensuring accuracy and compliance.

· Performed accounting functions such as month-end and quarter-end closing for various mutual funds.

· Calculated and verified the Net Asset Value (NAV) based on the daily activities.

· Verified the daily bank statements and determined cash availability of portfolios for short-term investment purposes.

· Recorded and verified daily capital stock activity received from Transfer Agent to ensure accurate update of the Fund’s capital position.

• Collaborated with auditors to verify compliance and enhance financial accuracy.