Stakeholder Engagement – Erin Morrow and Tony Akin, Citi

23 Pages·2016·0.89 MB·English

Internal Audit
Stakeholder Engagement
Erin Morrow – Chief Auditor - Citi’s Global Consumer Bank
Tony Akin – Audit Director – NA Cards
Agenda
Topic Pages
Agenda 2
Foundation – Why Stakeholder Management is Key 3-6
Emotional Intelligence (EI) & Audit Phase Applicability 7-12
The Trusted Auditor and Trust Equation 13-16
Listening Challenge and Critical Audit Conversations 17-21
Q & A and Discussion 22
Thank You! 23
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Foundation – Why Stakeholder Management is Key
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Stakeholder Engagement – Delivering Our Mission
Our Vision: Citi Internal Audit – expert, independent and trusted control enhancing assurance
Our mission is to provide independent, objective, reliable, valued and timely assurance to the Boards
of Directors of Citigroup and Citibank, the Audit Committees, senior management and regulators over
the effectiveness of culture, ethical conduct, governance, risk management, and controls that mitigate
current and evolving risks and in so doing enhance the control environment across Citigroup and
Citibank.
The three key principles/values that drive our mission and underpin everything we do are:
Purpose: One global team, with one goal: provide independent assurance to our stakeholders
Impact: Act as change agents; provide independent insight that produces control enhancing
outcomes
People: Foster an inclusive, ethical, diverse and collaborative environment which attracts, retains
and inspires people to be the best they can be.
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Core Principles
…for the Professional Practice of Internal Auditing
• Demonstrates integrity.
• Demonstrates competence and due professional care.
• Is objective and free from undue influence (independent).
• Aligns with the strategies, objectives, and risks of the organization.
• Is appropriately positioned and adequately resourced.
• Demonstrates quality and continuous improvement.
• Communicates effectively.
• Provides risk-based assurance.
• Is insightful, proactive, and future-focused.
• Promotes organizational improvement
“Citi Internal Audit – expert, independent and trusted control enhancing assurance”
Responding To A Challenging Day-to-Day Reality…
Ever Present
Conflicting Demands
of a Professional
Source: © ARETAI CONSULTINGLIMITED
“Citi Internal Audit – expert, independent and trusted control enhancing assurance”
Emotional Intelligence (EI) & Audit Phase Applicability
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Emotional Intelligence (EQ) in Stakeholder Engagement
What is
EQ and
How does
fit in?
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EI?
Emotional intelligence (EI) or emotional quotient (EQ) is the
capability of individuals to recognize their own, and other
people's emotions, to discriminate between different feelings
and label them appropriately, to use emotional information to
guide thinking and behavior, and to manage and/or adjust
emotions to adapt environments or achieve one's goal(s).
Source:WikipediaColeman, Andrew (2008). A Dictionary of Psychology (3 ed.). Oxford University Press. ISBN9780199534067
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Competencies of EQ
Self-Awareness Self-Management
- Self- Confidence - Trustworthiness and integrity
-Realistic Self- Assessment - Comfort with ambiguity
- Self-depreciation sense of humor - Openness to change
EI/EQ
Social Awareness Relationship Management
-Empathy: building and retaining -Effectiveness in leading change
talent cross –culture sensitivity,
persuasiveness
service to client and customer
- Expertise in building and leading
teams
Source: © Daniel Goleman
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