The Auditing Association as an Employer
The special thing about the Auditing Association’s work is that it is extremely important for almost anyone who has deposited money at private banks. Thus, as an auditing institution for the private banking sector we contribute significantly to the stability of the deposit protection system and not only protect the interests of deposit protection and the participating banks, but as a result of our actions, we indirectly protect the interests of every consumer by also helping to protect his/her deposits via the stability of his/her bank.
Managing risks, maintaining the values in everyone’s interest
Our employees enjoy carrying out their work, particularly because the versatile duties involved in risk management for deposit protection demand a huge amount of responsibility and, at the same time, constantly reveal the sense behind the often demanding activities. They contribute to stability as a result of their auditing and overseeing activities of banks and thus help maintain the interests of all parties. The member institutions include, among others, national, European as well as numerous international banks.
A versatile spectrum of tasks
A whole range of interesting fields of activities are among our tasks as risk manager of deposit protection. This varies within the Group from deposit protection audits at the member institutions or the banks assigned to the private banking sector’s statutory deposit protection to assessments and ratings of the current financial conditions, quality control and annual audits, IT audits, data protection and security assessments to services within the framework of insolvency and resolution procedures in the banking sector.
In order to perform this broad range of tasks, the Auditing Association has a 100-percent-stake in four organisations, respectively. Additional versatile development prospects within the Association are open to our employees as a result of this special organisation.
Employees with the career objective of becoming a tax consultant or chartered accountant are moreover required, amongst other things, to have the necessary work experience in the overall banking system via annual audits at the PBK Prüfungs- und Beratungsgesellschaft and are supported by the Association to achieve that important career move. Furthermore, we promote further professional qualifications such as vocational training as a Certified Information Systems Auditor (CISA) or as a Chartered Financial Analyst (CFA).
Exciting tasks with a lot of responsibility
Our currently around 160 employees deal with the matter of banks and their associated companies on a daily basis. Our main task is to carry out deposit protection audits as an essential tool of the risk management of private deposit. Here, we are geared to the individual bank risk structure and deal, for example, with the business model, risk management and the recoverability of assets.
When determining a potential risk as a result of our audits, our employees offer recommendations and advice to the institutions concerned, support the latter in restructuring measures and can also impose conditions in the event of serious claims at approximately 170 member institutions.
Insight into a bank’s complete life cycle
The banking sector has been subjected to a major transformation process over the last few years – amended market and regulatory framework conditions, challenges due to the digitalisation of the banking sector or the continued globalisation of the financial markets regularly require the member institutions’ business model to be called into question. Moreover, newly-established companies, acquisitions and changes in bank ownership are characterising the banking sector. Our employees therefore work well within their spectrum of tasks - besides the assessment of risk management, also the assessment of changing and partly innovative and forward-looking business models.
However, in the case of a claim if the deposit protection mechanisms need to be drawn on, the Auditing Association and its associated companies are involved. Thus, the Association’s employees must implement the depositor compensation scheme and render services relating to the subsequent insolvency and resolution procedures. As a result of the support of the insolvency administrator, employees gain a deep insight into the resolution of a bank.
Why you should decide on the Auditing Association as your employerAs an employee at the Auditing Association or at one of its associated companies you will be carrying out an important job in directly contributing to the stability and security of Germany’s and Europe’s financial centre.Our associated companies provide you with a versatile range of tasks with interesting opportunities for development.We’ll support you in preparing for exams and other vocational qualifications.Very few other employers will be able to offer you such an extensive insight into a bank’s business models and processes.
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