Nicolas DIMITROFF

Audit Director, Head of Asia Internal Audit: Oct 2017 to Mar 2023

Audit director in charge and/or worked with the different portfolio/functional audit teams to provide audit assurance over the key risks & controls and regulatory requirements relevant to Asia, and manage the regional Asia audit team.

The business had a footprint across 11 locations in Asia. During this period, delivered as audit director in charge over 35 audits, and managed over 100 regulatory asks/submissions and over 100 legal entities boards’ updates. The Asia audit team grew from 8 to 12 team members.

▪ As part of regional responsibilities, conducted compliance (including anti-money laundering and data privacy), regulatory and governance audit reviews. Alongside the regional role, delivered business audit reviews covering global markets, capital markets, principal investment, and asset management businesses. Also accountable for the global audit coverage of Equities brokerage.
▪ Performed or supervised risk assessments and continuous monitoring to formulate the audit plan.
▪ In coordination with the portfolio/functional audit teams, recruited, developed, and managed the Asia audit team.
▪ Built and maintained relationships with senior stakeholders across multiple locations.
▪ Ensured the quality and integrity of responses to regulatory requests and legal entities boards’ updates in Asia.
▪ Explained to regulators the audit approach and coverage during various routine regulatory inspections in Asia.
▪ Appointed as audit senior manager in charge for Singapore regulated legal entities to comply with the MAS
Guidelines on Individual Accountability and Conduct.
▪ Engaged with the central audit methodology, innovation and operations teams to enhance the issue follow-up
approach, methodology to audit projects, and operational processes for legal entities' board’s audit updates and to answer regulatory requests.


Audit Director, APAC Macquarie Asset Management and Macquarie Capital: Apr 2023 to Aug 2023

Audit director in charge to execute/oversee audits, manage senior stakeholders, update the audit plan through continuous monitoring, develop/manage teams, and manage regulatory requests or legal entities’ board’s audit updates related to Macquarie Asset Management and Macquarie Capital businesses in APAC.

Role
▪ Regional Portfolio Director – Risk Management Audit: conducted or oversaw audits for Market Risk, Credit Risk, Operational Risk, New Business Approval Process and Liquidity Risk in Asia excluding Japan.
▪ Global Model Risk Audit Lead: led the global audit coverage of Risk Models Management (Internal Models Method, Value at Risk, Internal Ratings-based approach) and Model Validation functions.

Responsibilities
▪ Led or oversaw regional or global functional audits of Risk and Treasury. Additionally, was responsible for AeJ
coverage of Risk matters in Front to Back trading audits.
▪ Key role in leading the audit coverage to maintain compliance with the waivers granted by the UKPRA & JFSA for
using Risk Models to calculate capital needs.
▪ Recruited, managed, trained, and coached team members. Built the specialized AeJ Audit Risk team.
▪ Developed and maintained constructive relationships with senior stakeholders.
▪ Risk assessed annually and monitored quarterly the Risk and Treasury functions to define the audit plan.
▪ Promoted to Executive Director in April 2014.

▪ Conducted regional and global audits on Risk Management functions and regulatory risk projects. Also supported
the integrated coverage of Risk Management in business audits.
▪ Performed assurance reviews over risk models’ controls to verify compliance with regulations for capital calculation
waiver applications submitted to financial regulators in Japan and the United Kingdom. This included regulatory interaction to explain the audit coverage. Reviewed areas included model development and maintenance, model validation, data integrity, backtesting, and stress testing. Capital calculation waivers were successfully granted.
▪ Supervised, trained and coached junior staff members and external contractors on assignments.

▪ Led and executed front-to-back Global Markets audits e.g. Equity Finance, Flow and Structured Credit.
▪ Areas covered include Front Office supervision, trade booking, confirmation and processing, market and credit risk
management, collateral management, P/L production, and independent price verification.
▪ Responsiblefortheadequacyofrisk-basedplanningandqualityoffieldworkexecution.Draftedandagreedtheaudit
reports with stakeholders. Verified risk mitigation by following up on the implementation of recommendations.
▪ Promoted to Vice President in April 2010.

▪ Audited different businesses and functions such as Fixed Income operations function, Anti-Money Laundering, E- Commerce activities, Front Office and Product Control of the Financing and Securities Management business, Equity Derivatives Front Office. Agreed issues with stakeholders.

▪ Conducted statutory audits including annual reviews of the internal control framework, with a main focus on Global Markets activities. The main clients were composed of Investment Banks and Asset Managers.
▪ As a Senior Auditor, led audits and managed junior auditors to ensure the successful completion of the assignments and training of junior team members.
▪ Completed a 6-months project to migrate financial positions from a legacy to a new system at a major bank.