Internal Audit/Securities Compliance
Resume:
Daniel J. Lynch
Chicago, IL 60640
QUALIFICATIONS
Accomplished Internal Audit and Regulatory Compliance Professional with sixteen years of enterprise risk management experience, including financial, operational and regulatory internal audits covering a wide range of industries (financial services, manufacturing/distribution, and retail) as well as Sarbanes-Oxley Compliance. An imaginative problem solver with exceptional organizational skills who approaches projects with enthusiasm and vision.
PROFESSIONAL EXPERIENCE
Jefferson Wells International, Internal Audit Professional Consultant, November 2004 – September 2007
Conducted the following tasks: COSO-based enterprise financial risk assessments, financial reporting and operational audits, internal audit co-sourcing and outsourcing, regulatory compliance and Sarbanes-Oxley compliance. Analyzed data for evidence of deficiencies in controls, fraud or lack of compliance with laws, regulations and management policies or procedures. Prepared clear and concise status reports for client meetings which provided appropriate documentation of work performed and identified audit issues observed. Developed and maintained effective relationships with clients, executives, regulatory agencies, consultants and staff.
Internal Auditor – Client: Calyon Financial (Global Futures Brokerage)
• Evaluated the adequacy and effectiveness of the internal control structure over financial reporting and operations in accordance with regulatory agencies and governing bodies.
• Recommended risk management procedures to address weaknesses in the operational accounting system.
• Analyzed and processed bank reconciliations.
• Analyzed aged account receivables to monitor progress on reducing past due balances.
Sarbanes-Oxley Auditor - Client: Richardson Electronics Ltd (Global Manufacturing and Distribution)
• Created narratives which evaluated the risks and documented the internal controls in place for the client's Revenue Cycle.
• Conducted testing of the client's internal controls in the Payroll and Procurement Cycles.
• Recommended improvements to standard operational procedures (SOPs).
Internal Auditor - Client: Wickes Furniture Company Inc.
• Evaluated the adequacy and effectiveness of the internal controls of retail store operations via onsite audits.
• Increased profitability by identifying deficiencies and recommending solutions for the internal controls in the areas of gift certificates, employee sales, free deliveries and stock dispositions.
Internal Auditor - Client: Northern Trust
• Effectively planned and completed assigned internal audit work to meet the timeframes of the annual audit schedule.
• Worked directly with various levels of bank personnel to obtain information and communicate about the technical aspects of the work being audited.
• Prioritized and managed multiple small and/or medium sized projects to completion.
• Re-tested prior audit findings to determine if they have been resolved.
• Initial engagement of two months extended to four months based on performance.
Investment Company Regulatory Compliance Officer - Client: Harris Investment Management
• Daily review of all transaction reports to ensure they effectively tested for compliance with the appropriate guideline.
• Acted as a liaison between Compliance and Information Technology groups to ensure the execution and integrity of projects requested.
• Developed processes for testing guidelines that could not be implemented within Charles River.
Internal Auditor - Client: HSBC
• Evaluated branch locations’ compliance with corporate record-keeping documentation requirements.
• Documented deficiencies and provided corrective training to managers at applicable locations.
Sarbanes-Oxley Auditor - Client: ING – Des Moines, IA office
• Managed compliance with Sarbanes-Oxley requirements utilizing internal and external resources.
• Conducted walkthroughs and performed testing of internal controls on Annuity Commission sub-processes.
• Reduced several Key Controls to Secondary Controls, reducing testing time and audit hours.
Financial Consultant - Client: Allstate Investments LLC
• Cleared exceptions against forecasted figures for limited partnership suspense items.
• Monthly and quarterly balancing of limited partnerships accounts on GAAP & Statutory basis.
• Implemented various automated spreadsheet applications to improve reconciliation workpaper efficiency.
• Assisted with month and quarter-end closing and variance analysis of GAAP consolidated financial statements.
Chicago Stock Exchange (CHX), Senior Compliance Auditor, September 1999 – November 2004
Accepted Senior Auditor position at the CHX to train the audit team on departmental procedures, SEC regulations, and industry standards. Completed audit schedule within tight time frames during a Departmental move and after staffing level was reduced 50%. Took on additional responsibilities while maintaining current workload during the leave of absence of my manager.
• Conducted training sessions for audit staff and reviewed their workpapers.
• Monitored the ongoing financial/operational condition of registered broker/dealer affiliates of hedge funds, day trading operations, and market-marker and specialist firms.
• Authored extensive revisions to the Department’s audit program to include new areas of focus such as Anti-Money Laundering and Patriot Act regulations.
• Conducted informal conferences and interviews with members and prospective members concerning securities industry rules and regulations.
Chicago Board Options Exchange (CBOE), Financial Compliance Auditor, March 1997 – September 1999
Hired to add experience to the Department during a period of rapid growth. Areas of specialized training included Clearance and Continuous Net Settlement of investment transactions, Profit and Loss analysis of member firms, and Options and Equities margin calculations.
• Served as Lead Coordinator for on-site audits of members’ financial records.
• Monitored trends and deviations in financial/operational condition of options trading firms.
• Reviewed and analyzed option strategies in firm/customer accounts during on site examination.
• Performed OCC Risk-based and cross-margin haircut analysis
• Participated in joint audits with the NFA and NYSE
• Wrote reports on findings, presented cases and recommended disciplinary action to Senior Management.
FINRA (formerly NASD Regulation), Securities Industry Compliance Auditor, September 1994 - March 1997
Originally hired as an Auditor Trainee and promoted to Compliance Auditor after demonstrating a strong understanding of the securities market. Challenged with learning the SEC Rules regarding Net Capital and Customer Reserve Formulas and the requirements regarding Advertising, Registration, Sales Practice and maintenance of Books and Records.
• Conducted on-site audits of broker/dealers’ financial statements, internal controls, retail sales practices and operating procedures to determine compliance with SEC, FINRA (formerly NASD) and MSRB rules and regulations.
• Performed trend analysis on monthly financial statements submitted by NASDAQ members.
• Reviewed underwritings of municipal and corporate bonds, Direct Participation Programs, Collateralized Mortgage Obligations, Reg D, 144A, and Section 4(2) offerings and trading of such securities in the secondary market for compliance with Insider Trading and Sales Practice regulations.
• Provided answers to member broker/dealers and the general public on questions related to the securities industry
EDUCATION
Northern Illinois University, Bachelor of Science, Finance (12 hours of accounting), 1991
PROFESSIONAL DEVELOPMENT
Certified Internal Auditor Candidate (75% complete)
NASD Examiner Training Program and Workshop, Rockville, MD (1995)
SEC Complex Financial/Operational Issues Workshop, Ft. Lauderdale, FL (1999)
Operational Auditing Workshop, Jefferson Wells University, 2005
COSO-Based Internal Controls Workshop, Jefferson Wells University, 2005
MEMBERSHIPS
Institute of Internal Auditors, 2007
Golden Key International Honour Society, 1989
Contact this candidate