Advice needed

I am audit manager (no experience in bank client). I got an offer from Citi for internal audit manager role for their CCAR division in DFW area. Pay wise They are giving 35% hike. Now i am confused should as i have no prior exp bank industry should it be good idea to join and will there be good exit opportunity ?

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35% is great bump. Go for it. It will you years to catch up

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I think places are hurting bad for internal audit

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Not sure how things are at Citi. I do know IA in banking gets paid more. Specially in IT

I switched from manufacturing to FS a few years ago. You’ll be able to pick it up if you’re intent on learning. Not sure your industry background and what you’ve worked on, but probably the only thing that’ll be totally foreign is credit loss. Other things you may have seen (e.g, leases, hedging, etc.) or seen things similar to them (e.g., loan accounting is largely just the opposite of debt accounting). Obviously simplifying a little bit but point is you can learn.

Also a bank like Citi is so big, very few people are going to have fast balls in all the things the bank does, so they’re not going to find it anywhere.

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This is very helpful. I know there is always learning process and I am open for that.

My comment was more like, will I not starting from zero. This atleast give me some relief.

I'm really curious about this. I'm in NYC and see these internal audit financial services jobs posted often, but they always seem to require highly specialized skill sets

During interview they were aware that I don’t have that industry exp, but they were fine. Now that reason of concerns, since now not sure what is I am going into ?

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I took a role as VP in mortgage industry. I don’t have any financial services experience. So it’s not only in internal audit, regular accounting too.

CCAR is pretty technical but not a lot of auditors have experience in it. If you like it, people typically transition to the 2nd line enterprise risk teams

I don’t think it’s hard to learn but you’re going to read/learn a lot especially without the bank experience. You’ll likely cover capital planning, enterprise risk, regulatory reporting and model risk governance.

One important piece is the workload. Normally industry is way better, but is it the same case for banks?

I was told workload is not heavy meaning not too many long hour. It will be normal working hour except when there is some reporting to be done. I am not sure if I can rely on them to tell, however if someone who is working there or worked can chip in to inform

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